A short summary to know about GST.

1. Introduction to
GOODS & SERVICES TAX
(GST)
Aruna S. Kadam
Asst. Prof. SICES Deg. College

2. What we will Gain
Introduction
Structure of Indian Tax system
Types of Taxes
Role of Government in Tax Collection
 Why GST ???
Benefits/Effects
Dual concept in GST
Effects on Prices and benefits
Registration
Returns
Disadvantage

4. Types of Taxes

5. Why ?

6. Sources of Revenue generation to Govt.

7. NEED TO IMPLEMENT GST

8. BENEFITS OF GST

10. What is GST
‘G’-Goods
‘S’- Services
‘T’- Tax
“Goods and Service tax (GST) is a comprehensive tax levy on manufacture, sale and
consumption of goods and service at a national level.
GST is a tax on goods and services with value addition at each stage having
comprehensive and continuous chain of set-off benefits from the producer’s/service
provider’s point up to the retailer’s level where only the final consumer should bear
the tax”.

12. Route of GST

13. IMPACT ON PRICE OF PRODUCT
Manufacturer to Wholeseller
With out Particulars With
GST Rs GST Rs
5000 Cost of Production 5000
2000 Profit Margin 2000
7000 Manufacturer's Prize 7000
840 Excise Duty @ 12% Nil
7840 Total Value 7000
980 Vat @ 12.5% Nil
250 Octroi Nil
Nil GST @ 18% 1260
9070 Bill Amount 8260
Difference 9070-8260 = 810

14. IMPACT ON HOTEL BILLS

15. IMPACT ON LODGING & BOARDING

16. IMPACT ON HOUSE HOLD DURABLES

17. PETROL & DIESEL

18. Threshold limit

19. Persons liable for Registration

20. Persons not liable for Registration

21. RETURN FILLED UNDER GST

22. Disadvantage of GST

23. Change is definitely never easy. The government
is trying to smoothen the road to GST. It is
important to take a leaf from global economies
that have implemented GST before us, and who
overcame the teething troubles to experience the
advantages of having a unified tax system and
easy input credits.
Conclusion