Presentation on the Introduction of Goods and Services Tax in India

1. Goods and Services Tax
The Constitution of India
(w.e.f. July 1, 2017)
Hundred and First Amendment Act, 2017

2. To commemorate the historic occasion of GST Launch, a function
was held in the Central Hall of Parliament on the mid-night of
30th June – 1st July, 2017.

7. Goods and Services Tax
The Constitution of India
(w.e.f. July 1, 2017)
Hundred and First Amendment Act, 2017

8. Goods and Services Tax
It was introduced as The Constitution (One Hundred and First Amendment) Act 2017, following the passage of
Constitution 122nd Amendment Bill.
Passage of Bill : 3rd of August, 2016 (Rajya Sabha)
8th of August, 2016 (Lok Sabha - 2nd Amended Bill)
GST Bill brings a new wave of Economic Freedom to the country.
With a Well structured, Technologically advanced and Simplified Indirect Tax Regime.

10. Applicable from 1st of July 2017
GST is backed by the philosophy of 1 Nation 1 Tax 1 Market
Also known as Good and Simple Tax
Tax on Subsequent value addition i.e. Tax on Value only hence -
Value Based Tax
Burden of Tax on the End User (Customer)
Destination Based Tax
Technological Backbone GSTN (GST Network)

11. The crucial piece in India’s development Strategy

12. 1% of our population pays income tax
90% of the workers are in the informal sector
10% know English
48.3% defecate in the Open
23.6% earn less than Rs 80 per day
Over 20 crore Indians will sleep hungry tonight
* World Bank Report in 2012* Swachhta Status Report in 2015*http://www.bbc.com/news/magazine-20500312

13. Financial
Freedom Benefits
To the Business Class
(1 Crore)
For the Rest of our Population
(130 Crore)
Two sides of GST
Courtesy: Jayant ki Class, ABP News India

17. National
Government
State
Governments
Local
Governments
India has a Federal system of Government

18. In a departure from the normal practice, GST will be administered
together by the Centre and States.
Read article at: http://www.taxscan.in/one-nation-one-tax-one-market-need-know-gst/8840/
Replaces Multiple Cascading Taxes levied by the Central and
State Governments

19. GST
Single
Tax
GSTN
HSN
Codes
IGST
SGST
CGST
4 Tax
Slabs
E -Challan
The New Indirect Tax Regime
5%, 12%, 18%, 28%
Unifies our Economy into a seamless National Market

20. CGST
SGST
IGST
INTRASTATE SUPPLY
INTERSTATE SUPPLY
* Division on the basis of Supply of Good or Services
Central GST
State GST
Intermediate
GST
For Supply of Good or Services within the State of
Manufacture
For Supply of Good or Services outside the State of
Manufacture

21. Taxes Subsumed
GST
Service
Tax/CESS
Excise
Duty
Luxury
Tax
CVD+SAD
Octroi
and Entry
Tax
VAT/CST
Comprehensive Taxing System that subsumes all the indirect taxes of State and Central Governments

27. Effects
• No more buy 1 get free @ Dominoes, Pizza Hut, etc.
• Decrease in Prices (very little)
• Ease of Doing Business
• Transparency in the System
• Development of a New India

29. Process to Register (STARTUPS)
Registration is:
• PAN Based only
• State wise separate Registration (one per state)
• Registration is a must within 30 days of starting Business
• Done on GSTN website http://www.gstn.org/

30. GSTN (Technology Backbone for GST in India)
Non Profit, Non Government Organization.
One stop solution for all Indirect Tax Requirements.
Prepare, File, Rectify Returns and make payments of Indirect Tax
Liabilities.
Business will be able to Manage Tax Easily.

31. Public Private Partnership (PPP) Model with Private players owning 51% share in the GSTN, and the rest is
owned by the government.
This vast technological backend was developed by Infosys Limited.

32. Google
Profitbooks.net
cleartax.in
Quora
Youtube
Zee News
DNA
ABP News
NDTV
DD News
GST IN INDIA: A KEY TAX REFORM
International Journal of Research –
Granthaalayah, Vol. 3, No. 12(2015): 133-
141
Monika Sehrawat and Upasana Dhanda
A study on implementation of goods and
services tax (GST) in India: Prospectus and
challenges
International Journal of Applied Research
2017; 3(1): 626-629
Lourdunathan F and Xavier P
“GST ki Master class” by
Government of India
REFERENCES

33. Set of Answers
A. Your question is Political. Sorry, I can’t comment!
B. I’m not the right person to answer. Question it on Quora.
C. How dare you say that! I take offence.
D. Ask your inner self... It would definitely know 
Questions