Which of the following taxes has been replaced by Goods and Services Tax (GST)?
1. Additional Duty of Customs
2. State VAT
3. Central Excise Duty

The Goods and Services Tax (GST), implemented on 1st July 2017, is a comprehensive indirect tax that subsumed a wide range of central and state-level taxes to create a unified national market.

The following taxes were replaced by GST:

1. Additional Duty of Customs (CVD and SAD) – Subsumed under IGST component of GST.

2. State Value Added Tax (VAT) – Replaced by SGST, except on alcohol and petroleum.

3. Central Excise Duty – Subsumed for all goods except petroleum products and tobacco.

GST is a dual tax system – both the Centre (CGST) and States (SGST) levy tax on the same transaction.

IGST is levied on inter-state transactions and imports.

GST replaced 17 different taxes and 23 cesses.

GST is levied at multiple rates: 0%, 5%, 12%, 18%, and 28%.

Key bodies: GST Council, chaired by the Union Finance Minister, decides tax rates and policies.

Constitutional basis: 101st Constitutional Amendment Act, 2016.