Which comprehensive indirect tax reform subsumed multiple central and state levies, creating a unified national market across India upon its implementation in 2017?

💡 Solution & Explanation

Goods and Services Tax, introduced through the One Hundred and First Constitutional Amendment Act, 2016, subsumed various indirect taxes like central excise, service tax, state value added tax, and octroi. Value added tax was a state-level tax that preceded the unified structure. Central excise applied only at the manufacturing stage before downstream retail levies. Goods and Services Tax established a destination-based taxation model, eliminating the cascading effect of taxes across state borders.