Question:
GST stands in place of
GST stands in place of
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GST replaced many indirect taxes, and understanding the tax structure post-GST is essential for both business and taxation compliance.
Updated On: Apr 15, 2025
- Income Tax
- Wealth Tax
- Gift Tax
- Service Tax
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The Correct Option is B
Solution and Explanation
GST (Goods and Services Tax) subsumed various indirect taxes such as Service Tax, VAT, and Central Excise Duty. It replaced certain taxes, including wealth tax, which is no longer levied in India. Other taxes like income tax and gift tax are not subsumed under GST.
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