The document summarizes key aspects of the Goods and Services Tax (GST) introduced in India in 2017 after over a decade of work. It outlines the constitutional amendments and legislation passed between 2006-2017 to introduce GST. It then provides overviews of key GST concepts like CGST, SGST, IGST, UTGST, tax rates and structures, input tax credit, registrations, returns, audits, refunds, penalties and offenses. The introduction of GST subsumed many central and state taxes and aimed to create a uniform national market.

1. Understanding Goods and Services Tax

2. Constitution (122nd Amendment)
Bill (CAB) introduced in Lok Sabha
Constitution (115th
Amendment) Bill introduced
Announcement
to introduce GST
by 2010
2006
2011
2014
2009
2013
Aug
2016
Constitution Amendment
Bill passed
Three committees constituted by EC and GSTN set up
First Discussion Paper (FDP) released by EC
Mar 2017
12 GST Council
Meetings
CGST, SGST,
UTGST, IGST,
Compensation
Cess Bills
recommended

3. The Effort and Work Done
10 Years…
In Making
30 +
Sub-Groups &
Committees
31000 + Industry
Professionals
trained
18000 +
Man Hours of
discussion by
GST Council
14
Empowered
Committee
Meetings
175 +
Officers
Meetings
51000 +
Officers
trained
Constitution
Amendment
and 5 Laws
approved by
collaborative
effort

4. Understanding CGST, SGST, UTGST &
IGST
Foreign Territory
State 1
State 2
Union territory

5. Overview of GST
Goods &
Service
Tax
(GST)
Servic
e Tax
Excise
Duty
VAT Luxury
Tax
Entertain
ment Tax
CST
Octroi
Duty
State
Excise
Duty

6. Concept of Supply
Under GST, the
Concept of Supply
has tremendously
increased the
Scope of Taxable
events.
Sale / Barter /
Exchange /
Transfer /
License / Rental /
Lease / Disposal
of Goods.
Transfer of Title
in Goods /
Rights in
Goods.
Electronic
Commerce
Operator
IT Services–
Designing,
Developme
nt, etc
Constructi
on
Services
Transfer of
Business
Assets
An Act of
Refraining /
Tolerating /
Obligating,
etcLand Lease,
Tenancy, or
Letting out of
Any Building for
Commerce
Treatment
of Goods.
Import of
Goods /
Services.
ForPradeepSinghi& Associates.2017-

7. Registrations
Registration not required upto
turnover upto 20 Lacs & 10
Lacs for Special Category
States(Current Limit
Proposed in Law.)
No threshold Exemption
applicable to following Items,
• Inter-State Taxable Supply
• Casual Taxable Person
• Liability to Pay Under
RCM.
• ECOs
• NRIs
• GST TDS Deductors.
• ISD
• Online Information &
Data Retrieval Services.
• Others, as maybe notified.
• Single Registration
for
IGST/SGST/CGST/UG
ST per state.
• Registration
required in each
state from where
supplies made – No
Centralized
Registration.
• Multiple Business
Verticals in a State –
May opt for
separate registration
for each Business
Vertical.

8. Registrations
Which Documents Required
for Registration?

10. Tax Invoices / Rates
5/6 Tier Rate
Structure Proposed for
• CGST (20%)
• SGST (20%)
• IGST (40%)
• UGST (20%)
0 %
5 %
12 %
28 %
Add.
Levy %
Nil Rate Items
Essential Items
Luxury Items
Addon Tax on Ultra
Lux,Sin & Demerits
Items
Standard Rate
18 % Standard Rate

11. Composition Levy for Turnover < 50 Lacs
(May Increase upto 1 Cr)
WHO CAN
OPT
WHO CANNOT
OPT
RATE OF TAX
CONDITION FOR
ELIGIBILITY

12. A B C D
CGST @ 10%
SGST @ 10%
T
2
T
1
T
3
CGST paid = Rs. 10
SGST paid = Rs. 10
CGST paid = Rs. 10
(Rs. 20 – 10 (Input Tax
Credit)
SGST paid = Rs. 10
(Rs. 20 – 10 (Input Tax
Credit)
CGST paid = Rs. 10
(Rs. 30 – 20 (Input Tax
Credit)
CGST paid = Rs. 10
(Rs. 30 – 20 (Input Tax
Credit)
Input Tax Credits (ITC)
Proposed Features of Input Tax
Credit.
• No overlapping of taxes.
• Reducing Tax on Tax
Effect.
• Only one strong reason,
enabling reduction of
prices inspite of
Proposed Higher Rates of
GST.

13. Taxes Manufactur
er
Trader Service
Provider
Contractors
Excise Duty
VAT
Octroi
CST
SAD
Service Tax
(General)
Luxury Tax
Various Taxes and its Credit aspect.

14. Payment of Taxes
IGST
CGST
SGST
IGST
CGST
SGST
ELECTR
ONIC
CASH
REGISTE
R
ELECTRO
NIC
CREDIT
REGISTER
LIABILITY
AS
AVAILABL
E IN
ELECTRO
NIC
LIABILITY
REGISTER
CAN BE
DISCHARGE
D THROUGH
• Tax
• Interest
• Penalty
• Arrears
• Fees or
any other
amount
payable
under the
act
CGST
IGST
SGST
IGST
LIABLITY TO BE DISCHARGED ON REVERSE CHARGE BASIS WILL BE DISCHARGED
THROUGH CASH REGISTER
UGST
IGST
UGST

15. Filling of Returns
TAXABLE
PERSON
OUTWARD
RECEIPIENT
INWARD
SUPPLIER
GSTR 1
10TH OF
SUCCEEDING
MONTH
GSTR 2
15TH OF
SUCCEEDING
MONTH
AUTOPOPULATED
UNDER PART A OF
GSTR-2A
ANY ALTER, REJECT,
MODIFY, UNDER GSTR – 2
TO BE INTIMATED UNDER
GSTR –1A
MONTHLY RETURN IN GSTR 3 OF TAX BY
20TH OF SUCCEEDING MONTH
ANNUAL RETURN IN GSTR 9 BY 31ST
DECEMBER OF SUCCEEDING
FINANCIAL YEAR
Final Turnover of Input Auto populated
based on GSTR-2
Final Turnover of Output Auto populated
based on GSTR 1
When a company can’t file the GST returns?

16. Refunds
Refund of Tax & Interest
• Application shall be filed before expiry of 2 years.
• Special category persons shall file before expiry of 6 months.
• Refund filed for tax, duty, cenvat credit or interest paid in earlier law shall be disposed
of as per earlier law & if admissible shall be paid in Cash. (Transitional Provision)
Refund of Unutilized ITC
• For exempted exports including zero
rated supplies
• Rate of Tax on inputs is higher than on
output supplies (Inverted Levy)
• No Refund if Duty Drawback claimed.

17. Audits & Records
• Departmental Audit
• Special Audit
Types of Audit
• Maintain books of accounts & other records
for a period of 6 years from the due date of
filing of Annual Return for the year pertaining
to such accounts & records
Records
Turnover based Audit

18. Penalty & Prosecution Provisions
Tax has been paid or short paid or erroneously refunded or ITC
wrongly availed
Reasons other than
fraud,etc (S.73)
By reason of fraud,etc
(S.74)Particulars U/s 73 U/s 74
Maximum Penalty 10% of tax OR
Rs.10,000 WEH
100% of
tax
Period covered 3 yrs. 5 yrs.
Paid before SCN - 15% of tax
After SCN but
within 30 days
- 25% of tax
After Order issued
but within 30 days
10% of tax OR
Rs.10,000 WEH
50% of tax
Amount of Evasion Imprisonment
> Rs. 5 Cr Upto 5 yrs. with Fine
Rs. 2 Cr - 5 Cr Upto 3 yrs. with Fine
Rs. 1 Cr - 2 Cr Upto 1 yr. with Fine

19. TYPES OF OFFENSES
1. Supplies G/S without issue of any invoice
2. Issue of invoice without supply of G/S
3. Collects tax but fails to pay to the credit of Govt.
4. Takes/utilizes ITC point # 2 above.
5. Collects tax in contravention of provisions but fails to pay
to the credit of Govt.
6. Evades tax, wrongly avails ITC or refund
7. Falsifies financial records
8. Prevents officer in discharge of his duties
9. Tampers or destroys any evidence
10. Engages in services which are in contravention
11. Engages in goods liable for confiscation
12. Fails to supply information under this Act
13. Attempts to commit any of the above
> Rs.5Cr.
Cognizable
& Non-
Bailable.
Imprisonment
upto 6 month
with/or Fine.

20. Thank You!