New Delhi, Aug 3 (KNN) As the much awaited Goods & Services Tax (GST) is almost a reality now, nine years after the proposal was made, let’s have a look at the taxes that the GST would replace.

Central Taxes to be replaced by GST:

1. Central Excise Duty
2. Service Tax
3. Special Additional Duty of Customs
4. Cesses and surcharges concerned with supply of goods or services
5. Additional Duties of Customs (CVD)
6. Additional Duties of Excise (textile and textile products)
7. Additional Duties of Excise (goods of special importance)
8. Duties of Excise (medicinal and toilet preparations)

State Taxes that the GST will subsume:

1. State VAT
2. Central Sales Tax
3. Purchase Tax
4. Luxury Tax
5. Entry Tax
6. Entertainment Tax (not levied by local bodies)
7. Taxes on advertisements
8. Taxes on lotteries, betting and gambling
9. State cesses and surcharges