BasicSt

1. GST
Goods and Services Tax
An overview
Presented by :
Vishal Jain
MBA 1st Semester
Sid : 45936

2. What is GST?
GST stands for “Goods and Services Tax”, and is a
comprehensive indirect tax levy on manufacture, sale
and consumption of goods as well as services at the
national level.
The main benefit of the GST is to facilitate a uniform tax levied on goods
and services across the country.
Seamless Input Tax Credit is the defining feature of GST

3. HISTORY
Feb, 2006 :First time introduced concept of GST and
announced the date of its implementation in 2010.
Jan, 2007 : First GST study by ASSOCHAM released
by Dr. Shome
Feb. 2007 : F. M. Announced introduction of GST
from 1st April 2010 in budget
The Government came out with a first Discussion
paper on GST in nov. 2009.
Introduced the 115th Constitution Amedment (GST)
Bill in the year 2011.

4. Current scenario – Indirect
Taxes
 Coverage
 Current Tax Structure
 Taxes
 Point of Levy
 Model of GST
 Authorities
 Returns

5. Coverage
Trader
Manufacturer
Service Provider

6. Taxes
Direct Tax Indirect Tax

7. Taxes - Indirect Tax
Central Taxes State Taxes
Central Excise Duty - On Manufactured Goods
Value Added tax or VAT - on sale of goods
within the state
Duties of Excise - Medicinal and Toilet
Preparations
Central Sales Tax or CST - on sale of
goods in interstate
Additional Excise Duty - Goods of Special
Importance
Luxury Tax
Additional Duties of Excise - Textile and Textile
Products
Entry Tax
Additional Duties of Customs - CVD on
Imports
Entertainment Tax
Special Additional Duty of Customs - SAD Taxes on lottery, betting and gambling
Service Tax Purchase Tax
All Cess - Swach Bharath, Krishi Kalyan etc Taxes on advertisements

8. Point of Levy
For Goods Manufacturers
at the time of removal of goods
For Importers
at the time of importation of goods
For Traders
at the time of sale of goods
For Service Providers
at the time of provision of service

9. MODEL OF GST
GST Structure
State GST
GST to be levied
by the State
Dual GST
GST to be levied by
the Centre and the
States concurrently
Centre GST
GST to be levied
by the
Centre

10. Authorities
CBEC - Central Board of Excise and Customs
Commercial Taxes Department

11. Returns
Central Excise Returns
Service Tax Returns
VAT Returns

12. Structure of GST
A dual GST is proposed where both Central and State
Government will administer GST
CGST
Central GST
SGST
State GST
IGST
Integrated GST
Will be levied by the Centre on Intra State Supply of
Goods/Service (Revenue from CGST will go to Centre)
Will be levied by the State on Intra State Supply of
Goods/Service (Revenue from SGST will go the State )
Will be levied by the Centre on inter State Supply of
Goods/Service (Revenue from ISGST will go to the State
where the goods are consumed)

13. Central Taxes
Additional Duties
of Excise
Additional Duties
of Customs
Central Excise
Duty
Special
Additional Duty
of Customs
Service Tax
Additional
Excise Duty
Duties of
Excise
All Cess
CGST

14. State Taxes
Value Added tax
or VAT
Taxes on lottery,
betting and
gambling
Luxury Tax
Entry Tax
Entertainment
Tax
Taxes on
advertisements
Purchase
Tax
SGST

15. Central Sales Tax
Central Sales Tax
or CST - on sale
of goods in
interstate
IGST

16. Commodities not covered by GST
Alcohol for human consumption
Petroleum Products
Electricity

17. WHAT WILL BE GST RATE ?
As per the decisions made by all will of GST
Council on November 3, 2016, The tax rates
would be at 4 slabs of 5%, 12%, 18% and 28%.
Luxury and demerit goods will be taxed at 28%
plus cess.

18. SWOT ANALYSIS
Strenght
 high profitability and revenue
 skilled workforce
 high growth rate
 barriers of market entry
 reduced labor costs
Weakness
 high investments in research and development
 future productivity

19.  venture capital
 growing economy
 growing demand
 new markets
 global markets
 new products and services
Threats
 financial capacity
 cash flow
 increasing rates of interest
 technological problems
 increasing costs
 price changes
Opportunities