The value added tax adopted by many States replaced

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(c) Sales Tax — As a taxation concept, VAT replaced Sales Tax. Value Added Tax (VAT) is an indirect value added tax which was introduced into Indian taxation system on 1st April 2005. A Value Added Tax (VAT) is a consumption tax levied on a commodity whenever it adds value at any point in the supply chain, from production to sale. The amount of VAT that the consumer pays is based on the cost of the product, minus any previously taxable costs of products used in the product. The Goods and Services Tax (GST), which has replaced the Central and State indirect taxes such as VAT, excise duty and service tax was implemented from 1st July, 2017.

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(A) Custom Duty

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(B) Excise Duty

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(D) Service Tax

The value added tax adopted by many States replaced

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