Option 1 -> Incorrect, as GST does not include direct taxes like income tax and corporation tax.
Option 2 -> Incorrect, as GST excludes several state taxes like stamp duty and property tax.
Option 3 -> Correct, GST merged multiple central indirect taxes (excise duty, service tax) and state indirect taxes (VAT, entry tax, luxury tax).
Option 4 -> Incorrect, GST deals with indirect taxes, not direct taxes.
Hence, Option 3: Large number of central and state indirect taxes -> GST (Goods and Services Tax) is a comprehensive indirect tax that subsumed around 17 central and state indirect taxes including Central Excise Duty, Service Tax, VAT, Purchase Tax, Entertainment Tax, Luxury Tax, and Entry Tax. It does not include direct taxes (income tax, corporation tax) or certain state levies like stamp duty and property tax. This makes it a unified tax system for goods and services across India.-> correct