Features - types -importance of goods and Service tax Parvathys Arts and Science College

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2. K.HARIPRASATH Assistant professor
N.HARIHARAN I BCOM CS
A.HARIHARAN I BCOM CS
Parvathy’s arts and science college din Digul,
GST IN INDIAN ECONOMY
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3. PRESENTACTION content:
 Introduction gst
 GST starting
 Important in gst in India
 Types of GST
 GST abreactions
 Benefit of GST
 Drawback of GST
 Commodity and GST rated
 Need of gst
 Conclusion
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4. INTRODUCTION of Gst:
 One of the biggest taxaction reform
in india the gst is all set to intergrate
state economic and boost overall
growth.
 GST will create a single unifird indian
market to make a economy strangers
 The recent 2019 in 38th GST counsil
decisions.
 collection gst 0% , 5% , 12% , 18%
, 28%
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5. GST starting:
 The GST goods and service tax was
launched at mid night on 1 July 2017 .The
president of India and the government of
India, The launch of marked by a historic
midnight 12.00 AM 30 June, 1 July session
of both the house of parliament convinced
at the central hall of the parliament.
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6. TYPES OF GST:
GST
CGST
UGS
T
IGST
SGS
T
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7. GST FULLFORMS:
 CGST- Central Goods and Service Tax
 SGST- State Goods and Service Tax
 IGST- Integrated Goods and Service Tax
 UGST- Union territory Goods and Service Tax
Interrelated GST :
Summation of CGST& SGST
Two state involved
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8. CGST:
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CGST is levied on intrastate supplies of both
goods and service by the central government is
governed by the CGST act SGST governed by
the state government , will also be lived on the
same intrastate supply.
SGST;
SGST means one of the three categories
under goods and service tax CGST, IGST &
SGST with a concepts of one tax one nation.
SGST falls understate goods and service tax
act 2016

9. IGST:
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 IGST falls under integrated goods and
service tax act 2016. IGST is charged when
movement of goods and service from and
state to another .
UGST:
UTGST it also charged at the same rates
that of CGST , but amongst UTGST or SGST
only one at a time shall be lived together
with CGST in each case.

10. IMPACT GST STARTUP IN INDIA :
Why india?
Rich
cultural
heritage
Less
waiting
time
World
class
quality
Low cost
Personal
services
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11. BENEFITS OF GST:
 Transapernt tax system
Uniform tax system Across
India
Reduce tax Evasion
Export will be more
competitive
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12. DRABACKS OF CURRENT SYAEM:
 Confusion and mistrust
 Complex and lacking in stability
 Hidden tax on export
 No state tax on imports
 High transition costs
 Narrow base
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13. COMMONDITY ANDGST RATES:
CATAGARYS GST %
Indian sweets 0%
Milk, fruits, vegetables, sugar , mustard oil, 0%
News print , Indian sweets 0%
Diamond and precious stones 0.25%
Gold , silver 3%
Branded, atta, mida gram flour 5%
Railway fright 5%
Small old used motors and vehicles 12%
Packged food , tomatosause 12%
Ayurcdic medic ions 12%
Mobile phone , readymade garment 12%13

14. Footwear above Rest 500 18%
Hair oil, tooth paste, soap, chemicals, shampoo 18%
Log stove electronic toys 18%
Cement, wall putty, paints 18%
TV ,ac , washing machines 28%
Small car , pert Roland dice driven 28%
Heavy bike ,Private jests 31%
Ac restraint , airline economy class 5%
Hotel rooms Rs2500-7000 5%
Movie ticket above Rest 100 28%
Lotteries, five star hotels 28%
Cake , ice-creams , pasta 12%
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15. Need for gst today:
 In Indian economy the service
sector contribution over 55.
 Separate taxation of goods and
service neither viable or describe
 Value added manufacture and sale of
goods require inputs of both- gst
vice versa which is often not
sepearable
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17. GUSS WHO AM I:
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DATE OF BIRTH : 18 AUGUST 1959
STUDYS : Bachelor of economics
LACHMI RAMASWAMY COLLEGE
THIRUCHIRA PALLI, 1980
MASTER DEGERRS: MPhil from Jawaharlal
Nehru university Delhi 1984.
PARENTS: SAVATHRI , NARAYANA
SEETHA RAMAN.
AWARDS : 2019 POWER FUL WOMAN THE
WORLD,
NATIONAL CSR AWARDS.

18. N. NIRMALASEETHARAMAN
FINANCIALMINISTER
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19. Conclusion:
 The role of industry helps improve
economy development , overcome
the agricultural and industrial
developments
 Industrialisation is the period of
social and economic change that
transform human group form an
again society into industrial line.
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