What goes and gst come?

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Proprietor
24 Points Joined August 2016

Kindly do correct in following flow for my better understanding of GST.

Current Liabilities                   born by                From 01.04.2017         born by

Direct Taxes                                                         Direct Taxes

Capital Gain Tax                     Central Govt             Capital Gain Tax        Central Govt

Corporate Tax                         Central Govt             Corporate Tax           Central Govt  

Income Tax                             Central Govt             Income Tax             Centra Govt 

Wealth Tax                             Central Govt            Wealth Tax              Central Govt

Indirect Taxes                                                        Indirect Taxes

Central Excise Duty                Central Govt            CGST+SGST             Central & State Govt

Service Tax                             Central Govt           CGST+SGST             Central & State Govt

Value Added Tax                    State Govt               CGST+SGST             Central & State Govt

Other Indirect Tax                                                 Other Indirect Tax

Entetainment Tax                  State Govt                CGST+SGST            Central & State Govt

Entry Tax                             State Govt                IGST                         State Govt

Luxury Tax                           State Govt                CGST+SGST             Central & State Govt

Motor Vehicle Tax                 State Govt                Motor Vehicle Tax       State Govt

Professional Tax                   State Govt                Professional Tax          State Govt

Property Tax                         Local Govt                Property Tax               Local Govt

Stamp Duty                          State Govt                Stamp Duty                State Govt

Direct Expences                                                   Direct Expences

Import Duty                          Central Govt               CGST+SGST             Central & State Govt

Octoi                                   Local Govt                  CGST+SGST            Central & State Govt

Toll Tax                               Central & State Govt    Toll Tax                      Central & State Govt

So,

Following Indirect Taxes are going to replace by ONE INDIA TAX i.e. CGST, IGST & SGST,

Central Excise Duty

Service Tax

Value Added Tax

Following Other Indirect Taxes are going to replace by ONE INDIA TAX i.e. CGST, IGST & SGST, Entetainment Tax

Entry Tax

Luxury Tax

Following Direct Expences are going to replace by ONE INDIA TAX i.e. CGST, IGST & SGST,

Import Duty

Octoi

And,

Following Other Indirect Taxes have not change,

Motor Vehicle Tax

Professional Tax

Property Tax

Stamp Duty

Kindly do correction in above flow, for my better understanding.

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On 30 August 2016 at 10:40 Report
Replies (2)
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Partner
143 Points Joined October 2011

You can understand from igst, cgst and sgst page.

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On 01 October 2016 at 17:32
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gstpitara.org
280 Points Joined September 2016

The GST would replace the following taxes:

(i) taxes currently levied and collected by the Centre:

a. Central Excise duty

b. Excise Duty levied under the Medicinal and Toilet Preparations (Excise Duties) Act 1955,

c.Additional Excise Duties (Goods of Special Importance)

d. Additional Excise Duties (Textiles and Textile Products)

e. Additional Customs Duty (commonly known as Countervailing duties or CVD)

f. Special Additional Duty of Customs (SAD)

g. Service Tax

h. Central Surcharges and Cesses so far as they relate to the supply of goods and services

 

(ii) State taxes that would be subsumed under the GST are:

a. State VAT

b. Central Sales Tax (levied by the Center and collected by the States)

c. Luxury Tax

d. Entry Tax (all forms)

e. Octroi

f. Entertainment and Amusement Tax (except when levied by the local bodies)

g. State Excise Duty (except that levied on liquor)

h. Purchase Tax

i. Taxes on lotteries, betting and gambling

j. State Surcharges and Cesses so far as they relate to the supply of goods and services

 

GST will not subsume:

a. Basic Customs Duty

b. Export Duty 

c. Stamp Duty

d. Central Excise Duty on tobacco and tobacco products

e. Professional Tax

f. Toll Tax

g. Environment Tax

h. Property Tax

i. Tax & duties on Electricity

j. Tax on Liquors & Petroleum products

k. Taxes on Vehicles

Note:- Tobacco and tobacco products would be subject to GST. In addition, the Centre would have the power to levy Central Excise duty on these products.

         - Following commodities will be kept outside the purview of GST:

                  a. Alcohol for human consumption

                  b. Petroleum Products viz. petroleum crude, motor spirit (petrol), high-speed diesel, natural

                      gas and aviation turbine fuel

                       (Petroleum and petroleum products will be subject to GST on a date to be notified by

                        the GST Council.)

                  c. Electricity.

              VAT & Central Excise will continue to be levied in respect of the above commodities.

 

 

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On 11 October 2016 at 14:13


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