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Which of the following tax is not included in Goods and Services Tax (GST)?
1. Excise Duty
2. Custom Duty
3. Value Added Tax
4. Service Tax

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Correct Answer - Option 2 : Custom Duty

The correct answer is Custom Duty.

  • Custom Duty tax is not included in Goods and Services Tax (GST).
  • Customs duty refers to the tax imposed on goods when they are transported across international borders.
    • In simple terms, it is the tax that is levied on the import and export of goods.
  • The government uses this duty to raise its revenues, safeguard domestic industries, and regulate the movement of goods.
    • Customs duty is a form of indirect tax which is imposed at the time of both import and export of goods and services.
    • The tax which is imposed on the import of goods and services are is known as Import duty and for export of goods and services are known as Export duty.
  • Hence, option 2 is correct. 

  • Goods and services are divided into five different tax slabs for collection of tax - 0%, 5%, 12%, 18% and 28%.
    • However, petroleum products, alcoholic drinks, and electricity are not taxed under GST and instead are taxed separately by the individual state governments, as per the previous tax system. 
  • Excise Duty :
    • Excise duty is a form of tax imposed on goods for their production, licensing and sale.
    • Today, excise duty applies only to petroleum and liquor.
    • Excise duty was levied on manufactured goods and levied at the time of removal of goods, while GST is levied on the supply of goods and services.
  • Value Added Tax :
    • Value-added tax (VAT) is a type of indirect tax levied on goods and services for value-added at every point of production or distribution cycle, starting from raw materials and going all the way to the final retail purchase.
    • Because the consumer bears the entire tax, VAT is also a consumption tax.
  • Service Tax :
    • Service tax is a tax levied by the government on service providers on certain service transactions but is actually borne by the customers.
    • It is categorized under Indirect Tax and came into existence under the Finance Act, 1994.
    • This tax is not applicable in the state of Jammu & Kashmir.

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