This PPT describes GST of India

2. GST- An Overview
Get ready with GST
Whether you are in consumer goods, logistics,
automotive, manufacturing, pharmaceutical, or
any other industry – your business will have a
unique journey for GST implementation.

3. Goods and Services Tax
Goods and Services Tax - the upcoming
revolutionary tax reform will bring unparalleled
changes across all industries. As a market leader
in enterprise applications - SAP is ready to
empower businesses with customized industry
specific solutions ensuring a smooth GST
implementation.

4. ady
GST is not just about legal compliance, it
is also an opportunity for Indian
businesses to reduce costs and improve
profitability. Learn how Prism helps you to
get ready for the GST change, and benefit
most from this reform.

5. Ensure Zero Disruption
Tax Migration of business processes and
IT systems is a complex journey because
of the risk of business disruption and
efficiency loss. Read further to find out
about SAP–s solutions to minimize this
risk.

6. GST Threshold
The Goods and Services Tax
Council, has struck political
consensus on the GST threshold
limit.
Finance Minister Arun Jaitley
addressing the media after the meet
said the threshold limit has been set
at Rs 20 lakh. For North-Eastern
and other small states, the limit is
Rs 10 Lakh.

7. Dual GST Model
While a single, unified GST would
have been be a preferred option, in
keeping with our federal structure a
concurrent dual GST model has been
envisaged, with a Central Goods and
Services Tax (CGST) and States
Goods and Services Tax (SGST)
being levied, in parallel, on the taxable
value of every transaction through the
supply chain.

8. Componets of GST
Central GST (CGST) – to be administered
by the Centre
State GST (SGST) – to be administered by
the State Governments
Inter-State GST (iGST) - to be levied on
inter-State trade and administered and
collected by the Centre. The proceeds
would be transferred accordingly.

9. Input credit system
Full input credit system would
operate in parallel for the Central
GST and the State GST.
Taxes paid against the Central GST
shall be allowed to be taken as input
tax credit (ITC) for the Central GST
and could be utilized only against the
payment of Central GST.
The same principle will be applicable
for the State GST

10. GSTIN Number Format
Each taxpayer would be allotted a
PAN-linked taxpayer identification
number with a total of 13/15 digits.
This would bring the GST PAN-linked
system in line with the prevailing
PAN-based system for Income tax,
facilitating data exchange and
taxpayment

11. CGST Taxes to be Subsumed
Taxes to be Subsumed
The taxes proposed to be subsumed in
Central GST are:
1 Central Excise Duty
2 Additional Excise Duties
3 The Excise Duty levied under the
Medicinal and Toiletries
Preparation Act
4 Service Tax
5 Additional Customs Duty (CVD)
6 Special Additional Duty of
Customs - 4% (SAD)
7 Surcharges, and
8 Cesses.

12. SGST Taxes to be Subsumed
Following State taxes and levies
would be, to begin with, subsumed
under GST:
1 VAT / Sales tax
2 Entertainment tax (unless levied by
the local bodies).
3 Luxury tax
4 Taxes on lottery, betting and
gambling.
5 State Cesses and Surcharges
relating to supply of goods and
services.
6 Entry tax not in lieu of Octroi.