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Which of the following tax has been abolished by the GST?
1. Service Tax
2. Income Tax
3. Corporation Tax
4. Wealth Tax

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Correct Answer - Option 1 : Service Tax

The correct answer is Service Tax.

Goods and Service Tax (GST) has abolished the following taxes:  

  1. Central Excise duty
  2. Duties of Excise
  3. Additional Duties of Excise 
  4. Additional Duties of Excise
  5. Additional Duties of Customs 
  6. Special Additional Duty of Customs 
  7. Service Tax
  8. Central Surcharges

  • GST is a value-added tax levied on most goods and services sold for domestic consumption.
  • In India, GST Bill was first introduced in 2014 as The Constitution (122nd Amendment) Bill.

  • Wealth Tax, according to the Wealth Tax Act, 1957, is a form of direct tax levied on an individual's personal properties.
  • Income tax is a direct tax that is paid to the government on the income of persons or corporations that are expected to pay taxes.
  • Corporation tax is a direct tax levied on the net profits or profit made by corporations from their businesses.

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