The concept of taxable event was ratified by the SC four decades ago. Analysts should not confuse GST (VAT) with sales tax
In an earlier article about a year back, I had written about some misconceptions regarding VAT & GST. Now I am writing more on the subject. (a) The White Paper on VAT issued by the Empowered Committee of State Finance Ministers on November 16, 1999, has stated that the GST has subsumed several central taxes, including Additional Customs Duty, commonly known as countervailing duty (CVD). This is clearly wrong.
Countervailing duty has not been subsumed. CVD is not an independent tax but is levied only as equal to Central Excise Duty at that time.
Source- Business Standard.