Which of the following has amalgamated a large number of central and state taxes and cesses?
Goods and Services Tax
The question asks which tax has amalgamated a large number of central and state taxes and cesses.
The Goods and Services Tax (GST) subsumed many indirect central and state taxes into a single unified tax on the supply of goods and services.
It was implemented in India on 1 July 2017 under the 101st Constitutional Amendment Act.
Central taxes merged into GST include central excise duty, service tax and additional customs duties; state taxes merged include VAT, entry tax, luxury tax and various cesses.
This created the principle of ‘one nation, one tax’, removing the cascading effect of multiple indirect taxes.
Customs duty is a separate tax on imports and was not fully merged; Minimum Alternate Tax and Corporate Tax are direct taxes on company income, so they are wrong.
Hence the correct answer is the Goods and Services Tax.
Goods and Services Tax.
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