The correct answer is D. All of these.
Goods and Services Tax (GST) is an indirect tax levied on the supply of goods and services in India. It is a comprehensive tax that subsumes all central and state indirect taxes, including central excise duty, central sales tax, value-added tax (VAT), service tax, and additional cess.
GST was introduced in India on July 1, 2017. It is a destination-based tax, which means that the tax is levied at the place where the goods or services are consumed. GST is a four-tier tax structure with rates of 5%, 12%, 18%, and 28%.
The introduction of GST has been a major reform in the Indian indirect tax system. It has simplified the tax structure, reduced the cascading effect of taxes, and increased the efficiency of tax collection. GST has also led to a reduction in prices of goods and services.
The following are the taxes that have been subsumed in GST:
- Central excise duty: This is a tax levied on the manufacture of goods.
- Central sales tax: This is a tax levied on the sale of goods.
- VAT: This is a tax levied on the value added at each stage of the supply of goods and services.
- Service tax: This is a tax levied on the supply of services.
- Additional cess: This is a tax levied on certain goods and services, such as luxury goods and petroleum products.
The subsuming of these taxes in GST has made the tax system more efficient and transparent. It has also led to a reduction in the compliance burden on businesses.