Gujarat replaced VAT with the Goods and Services Tax (GST) on July 1, 2017. The GST is a comprehensive indirect tax levied on goods and services consumed in India. It is a destination-based tax, which means that the tax is levied at the place where the goods or services are consumed, not at the place where they are produced. The GST is a single tax that subsumes several indirect taxes, including VAT, excise duty, service tax, and Central Sales Tax. The GST is expected to simplify the tax system and reduce the cost of doing business in India.
The Central Sales Tax (CST) is a tax levied on the sale of goods from one state to another. The CST is a destination-based tax, which means that the tax is levied at the place where the goods are consumed, not at the place where they are produced. The CST is a shared tax, which means that the proceeds of the tax are shared between the central government and the state governments.
The Income Tax is a tax levied on the income of individuals and businesses. The Income Tax is a progressive tax, which means that the tax rate increases as the income increases. The Income Tax is a direct tax, which means that the tax is levied on the person who earns the income.
The correct answer is Goods and Services Tax (GST).