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1. FCA, B.COM, MBA, LLB

2. G- Game Changer Tax
S- Seamless Credit
T- Transparent System;
OR
GST- GREAT & SIMPLE TAX

3.  Introduction, GST Council, CGST & SGST or IGST
 Why GST & Taxes Subsumed Under GST
 HSN Code & Rates of Taxes
 Key Concepts Under GST & Definition Of Taxable Person
 Meaning of Supply U/s 3 instead of Sale
 Definition Of Goods & Services
 Place of Supply U/s 12- to Check Inter/Intra State
 Time of Supply - to decide when GST Taxes becomes payable
 Registration and Composition Scheme
 Returns Under GST and their Dates
 Input Tax Credit & Job Work Treatment
 Impacts On Businesses
 Assessment, Audit and Prosecution & Arrest
 E-Way Bill and Transporting Under GST
Sequence to Study GST For Understanding

4. GST Framework

5. Supply
Important terms in GST
Intra State
/ Inter
State
Taxable
Person
Valuation
U/S 15
Not more
than 14 %

6. CONCEPT Changes Under GST
 Concept of instead of :
EFFECTS- “Supply includes all forms of Goods and
Services such as Sale, Transfer, Barter, Exchange, License, Rental,
Lease and Disposal”-Very Wide.
 Includes Supply of :-
a. Supply of Goods; b. Supply of Services;
c. Supply of Goods & Services.
 Further Even these are covered under Supply :-
1. STOCK TRANSFERS; 2. BRANCH TRANSFERS;
3. FREE SAMPLLES unless for Exports
 Composite Supply- Supply of 2 or more goods & services-
Primary Use Items tax rate to apply & not secondary- Laptop(8%) &
Laptop Bag (12%)- So GST @ 8%.
 Mixed Supply or Bundled Goods - Higher rate out of the two
goods or services will apply- both have independent usage-
Laptop(8%) & Printer (12%)- So GST @ 12%.
“SALE”“SUPPLY”

7. CONCEPT Changes Under GST
 Concept of Central & State GST And
INTEGERATED GST (IGST)
EFFECTS-
1. Taxes move along with Goods & Services;
2. Consuming States benefit more than Manufacturing
States;
3. GST Tax levied at the time of Supply similar to
the removal goods as in Excise presently;
 Concept of Two Parties Done Away With –
Not necessary to have a Buyer & Seller under GST
Liability to pay even on Internal Transfers
s
CA. Sanjiv Nanda, Smarthead Consultants

8. Supply
 includes
 For Consideration (furtherance of business)
-sale, transfer, barter, exchange, license, rental, lease or
disposal
 Whether or not for consideration or furtherance
of business
- Importation of Service
 Supply without consideration
- List as per schedule I
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Supply

9. Supply
 Supply without consideration (Schedule I)
- Permanent transfer / disposal of business assets.
- Temporary application of business assets to a private or
non-business use.
- Services put to a private or non-business use.
- Assets retained after deregistration.
- Supply of goods and / or services by a taxable person to
another taxable or non-taxable person in the course or
furtherance of business
 Provided that supply of goods by a registered taxable
person to a job worker in terms of section 43A shall not be
treated as supply.
CA. Sanjiv Nanda, Smarthead Consultants

10. Supply
Importation
of services
for personal
consumptio
n
Schedule I:
Supplywithout
consideration
Schedule II:
Either services
or goods
Schedule III &
IV: Neither
supply of
services nor
Goods
In course or
furtherance of
business
For
Consideration
CA. Sanjiv Nanda, Smarthead Consultants

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14. CA. Sanjiv Nanda, Smarthead Consultants

15.  This Presentation is only for the Purposes of General
Information and Cannot be taken as an Expert Opinion on
any matters discussed Here-in.
 No Person or Business Entity shall be held responsible for
any losses occurring due to any interpretation done from
this presentation.
 If any certified Opinion or Interpretation is required then
personal interaction should be done after settling the fees
with the expert presenting this information.
 The Presentation is being done based only on the
information presently available in the public domain and
some information is still awaited from GST authorities.
DISCLAIMER ON GST INFO
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16. Thanks For A Patient
CA. Sanjiv Nanda
Smarthead Consultants pvt. LtD.
NDR & Co. , Chartered Accountants
You Tube Channel :- Seek Expert Business Advice
Personal Id :- ca.sanjiv.nanda@gmail.com
Personal id ;- sanjiv.nanda@gmail.com
sanjiv.nanda@smartheadconsulting.com
https://www.youtube.com/channel/UCmmx2GFXeoF-DNtNjwnpYJA
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