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Goods and service tax

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Goods and service tax

  1. 1. WELCOME
  2. 2. COURSE INSTRUCTOR- RAVISH VERMA ASST. PROFESSOR MITTAL SCHOOL OF BUSINESS (LPU) GOODS AND SERVICE TAX SECTION-Q1716CA-2
  3. 3. PRESENTED BY- Sr No. Name Roll no. Registration No. 1 ALAKESH SHARMA A10 11712379 2 MINAAL KUMAR A11 11713010 3 PULKIT CHADHA A12 11713999 4 MUKUL A15 11716363 5 BASSEKOU COULIBALY A16 11719135 COURSE INSTRUCTOR- RAVISH VERMA ASST. PROFESSOR MITTAL SCHOOL OF BUSINESS (LPU)
  4. 4. It was launched at midnight on 1st July 2017. It is the biggest reform in indirect tax since 1947. It was introduced as the one hundred and first amendment ACT 2017. GST is governed by the GST council. Its chairman is our finance minister i.e. ARUN JAITLEY. INTRODUCTION-
  5. 5. There are three types of GST CGST,SGST,IGST. Under GST, rates are 0%,5%,12%,18%,28%. Special rate of 0.25% on precious stones and 3% on gold. There is no GST on the sale and purchase of securities.
  6. 6. Improving the competitiveness of the original goods and services. Which helps to improving the GDP rate too. It removes all the indirect taxes and convert into single tax system It helps to reducing the complications in tax administration. Decrease the unhealthy competition among the states. OBJECTIVES-
  7. 7. DATA ANALYSIS
  8. 8. 20% 80% PIE CHART 1 YES NO Qno.1 Have you face any problem in getting GSTIN number?
  9. 9. 35% 65% PIE CHART 2 YES NO Qno.2 Are you facing any problem in filling GSTR-3B return?
  10. 10. 60% 40% PIE CHART 3 YES NO Qno.3 Do you think the govt. has made adequate arrangements while making the interface to file return?
  11. 11. Qno.4 What is the effect on your sales after implementation of GST? POSITIVE, 70%, NEGATIVE, 30%, PIE CHART 4 POSITIVE NEGATIVE
  12. 12. Qno.5 Do you feel necessary to hire a professional accountant to file GST return? 10% 90% PIE CHART 5 YES NO
  13. 13. YES 15% NO 85% PIE CHART 6 Qno.6 Have you got proper understanding about the GST calculation mechanism?
  14. 14. 45% 55% PIE CHART 7 YES NO Qno.7 Are you facing any issue in input tax credit under GST?
  15. 15. 90% 10% PIE CHART 8 YES NO Qno.8 Does GST provide relief to you from the overall tax burden?
  16. 16. YES 35% NO 65% PIE CHART 9 YES NO Qno.9 Is your business ready for GST?
  17. 17. YES 20% NO 80% PIE CHART 10 YES NO Qno.10 Do you think that GST will cover unorganised sector also under taxation system?
  18. 18. All business are affected. Challenges are faced by the businessman. No one will think about not paying the tax. FINDINGS
  19. 19. Training the officials perfectly both central and state about GST. Establishment and upgradation of IT framework. A specific app for GST should be available for the people. An effective coordination between central and state tax administration. Suggestion and recommendations -
  20. 20. Activity of tax theft will go away under GST. Give benefits to both govt. as well as consumers. Reduction of tax theft will leads to increase the revenue of govt. Conclusion-
  21. 21. ONE NATION-ONE TAX SLOGAN-

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