Objectives & Agenda :
Goods and Services Tax (GST) is an Indirect Tax levied in India introduced in July 2017 which was one of the most important reforms in the Indian Economy. Before levying any tax, taxable events needs to be ascertained. Under GST, taxable event arises on "supply of goods or services or both". In this webinar, we shall analyse and understand the provisions related to definition of supply.
OBJECTIVE
With the fast growth of Indian trade across borders, the Government regulations have also become stringent in order to prevent illegal import or export of goods. It is crucial for the importers and exporters to abide by these regulations. In this webinar we will be learning about the powers of the Central Government to notify goods , the responsibilities of persons acquiring notified goods or selling specified goods and precautionary steps to be taken in order to be satisfied with the identity of the purchaser.
This Power Point presentation is the latest in the series of GST related slides uploaded by me earlier. This Specifically discusses the Concept of CGST, SGST and IGST. Examples and illustrations have been given to help in understanding.
Ms. Suchitra Kumari has assisted me in editing these slides
OBJECTIVE
Goods and Services Tax (GST) is an Indirect Tax levied in India introduced in July, 2017 which was one of the most important reforms in the Indian Economy. Timely refund mechanism is essential in tax administration, as it facilitates trade through the release of blocked funds for working capital, expansion and modernisation of existing business. In this webinar, we shall be learning the procedural aspects of refund under GST law.
Objectives & Agenda :
Goods and Services Tax (GST) is an Indirect Tax levied in India introduced in July 2017 which was one of the most important reforms in the Indian Economy. Before levying any tax, taxable events needs to be ascertained. Under GST, taxable event arises on "supply of goods or services or both". In this webinar, we shall analyse and understand the provisions related to definition of supply.
OBJECTIVE
With the fast growth of Indian trade across borders, the Government regulations have also become stringent in order to prevent illegal import or export of goods. It is crucial for the importers and exporters to abide by these regulations. In this webinar we will be learning about the powers of the Central Government to notify goods , the responsibilities of persons acquiring notified goods or selling specified goods and precautionary steps to be taken in order to be satisfied with the identity of the purchaser.
This Power Point presentation is the latest in the series of GST related slides uploaded by me earlier. This Specifically discusses the Concept of CGST, SGST and IGST. Examples and illustrations have been given to help in understanding.
Ms. Suchitra Kumari has assisted me in editing these slides
OBJECTIVE
Goods and Services Tax (GST) is an Indirect Tax levied in India introduced in July, 2017 which was one of the most important reforms in the Indian Economy. Timely refund mechanism is essential in tax administration, as it facilitates trade through the release of blocked funds for working capital, expansion and modernisation of existing business. In this webinar, we shall be learning the procedural aspects of refund under GST law.
OBJECTIVE
Goods and Services Tax (GST) is an Indirect Tax levied in India introduced in July, 2017 which was one of the most important reforms in the Indian Economy. Unlike erstwhile indirect tax regime, GST promises seamless credit on goods and services across the entire supply chain with some exceptions. In this webinar, we shall understand and analyse the provisions related to Input Tax Credit under the GST law
OBJECTIVE
Import of all kinds of goods and on the export of goods on certain situations attracts customs duty. The Customs Act,1962 contains provisions which govern the levy of customs duty. In this webinar, we shall understand the types customs duty levied and the duty drawback allowed under the customs law.
Covers the provisions relating to Supply (Time of Supply, Place of Supply and Value of Supply rules), Reverse Charge Mechanism, Composition Scheme and HSN/ SAC Code classification guidelines
Under Fundamental Concepts of Income Tax Presentation, Important Definitions under Income Tax Act, Residential Status of the assesses & its tax incidence is covered.
OBJECTIVE
The place of supply in GST determines the taxable jurisdiction where the tax should reach and ascertains whether the supply is inter-state supply or intra-state supply. This webinar shall deal with the place of supply with regards to various types of goods and services. It shall also throw some light on the valuation criteria in certain cases.
Goods and Services Tax - Input Tax Credit Eligibility
Basic Provisions. How can a taxpayer claim ITC what are the conditions and restrictions for claiming ITC under GST.
OBJECTIVE
Goods and Services Tax (GST) is an Indirect Tax levied in India introduced in July, 2017 which was one of the most important reforms in the Indian Economy. Unlike erstwhile indirect tax regime, GST promises seamless credit on goods and services across the entire supply chain with some exceptions. In this webinar, we shall understand and analyse the provisions related to Input Tax Credit under the GST law
OBJECTIVE
Import of all kinds of goods and on the export of goods on certain situations attracts customs duty. The Customs Act,1962 contains provisions which govern the levy of customs duty. In this webinar, we shall understand the types customs duty levied and the duty drawback allowed under the customs law.
Covers the provisions relating to Supply (Time of Supply, Place of Supply and Value of Supply rules), Reverse Charge Mechanism, Composition Scheme and HSN/ SAC Code classification guidelines
Under Fundamental Concepts of Income Tax Presentation, Important Definitions under Income Tax Act, Residential Status of the assesses & its tax incidence is covered.
OBJECTIVE
The place of supply in GST determines the taxable jurisdiction where the tax should reach and ascertains whether the supply is inter-state supply or intra-state supply. This webinar shall deal with the place of supply with regards to various types of goods and services. It shall also throw some light on the valuation criteria in certain cases.
Goods and Services Tax - Input Tax Credit Eligibility
Basic Provisions. How can a taxpayer claim ITC what are the conditions and restrictions for claiming ITC under GST.
GST TRAINING ON VARIOUS CONCEPTS OF GSTGST Law India
This presentation enumerates the constitutional aspect of GST with amendments, GST levy on goods and services in inter-state and intra-state supply, what is supply, types of supply, the supply of goods or services, persons liable to pay tax under GST, taxable and distinct persons under GST and reverse charge mechanism under GST.
PPT on GST _ Goods & Service tax by top gst expertsCA Milin Shah
https://www.topgstexperts.com/ppt-on-gst_-prepared-presented-by-top-gst-experts/
Top GST Experts have taken a Small Seminar on GST on 9th April at Mumbai_ Please find the PPT attached herewith for your handy reference.
Composition Scheme Registration Invoicing Returns Payment of Tax under GST.GST Law India
The following presentation focuses on Composition Scheme under GST, how Registration under composition scheme is to be done, invoicing, filing of returns and how is to be paid under this scheme.
GST TRAINING ON VARIOUS CONCEPTS OF GST-2GST Law India
This presentation enumerates about Composition Scheme under GST, registration under GST and composition scheme, invoicing, filing of returns through various forms and payment of tax under GST.
The following Presentation enumerates the various provisions w.r.t. ITC, how it can be used,eligibilty and conditions for claiming ITC along with various case studies and illustrations. further, it elaborates the concept of input service distributor.
Refunds under GST & Impact of GST Audit on Statutory/ Tax AuditsGST Law India
The following presentation enumerates how to claim refund under GST and also auditing mechanism such as auditing by a chartered accountant, taxing authorities and special audit under GST. The presentation also details out the treatment of zero rated supplies and deemed export.
Preliminary findings _OECD field visits to ten regions in the TSI EU mining r...OECDregions
Preliminary findings from OECD field visits for the project: Enhancing EU Mining Regional Ecosystems to Support the Green Transition and Secure Mineral Raw Materials Supply.
Jennifer Schaus and Associates hosts a complimentary webinar series on The FAR in 2024. Join the webinars on Wednesdays and Fridays at noon, eastern.
Recordings are on YouTube and the company website.
https://www.youtube.com/@jenniferschaus/videos
Monitoring Health for the SDGs - Global Health Statistics 2024 - WHOChristina Parmionova
The 2024 World Health Statistics edition reviews more than 50 health-related indicators from the Sustainable Development Goals and WHO’s Thirteenth General Programme of Work. It also highlights the findings from the Global health estimates 2021, notably the impact of the COVID-19 pandemic on life expectancy and healthy life expectancy.
Presentation by Jared Jageler, David Adler, Noelia Duchovny, and Evan Herrnstadt, analysts in CBO’s Microeconomic Studies and Health Analysis Divisions, at the Association of Environmental and Resource Economists Summer Conference.
Jennifer Schaus and Associates hosts a complimentary webinar series on The FAR in 2024. Join the webinars on Wednesdays and Fridays at noon, eastern.
Recordings are on YouTube and the company website.
https://www.youtube.com/@jenniferschaus/videos
Jennifer Schaus and Associates hosts a complimentary webinar series on The FAR in 2024. Join the webinars on Wednesdays and Fridays at noon, eastern.
Recordings are on YouTube and the company website.
https://www.youtube.com/@jenniferschaus/videos
Donate to charity during this holiday seasonSERUDS INDIA
For people who have money and are philanthropic, there are infinite opportunities to gift a needy person or child a Merry Christmas. Even if you are living on a shoestring budget, you will be surprised at how much you can do.
Donate Us
https://serudsindia.org/how-to-donate-to-charity-during-this-holiday-season/
#charityforchildren, #donateforchildren, #donateclothesforchildren, #donatebooksforchildren, #donatetoysforchildren, #sponsorforchildren, #sponsorclothesforchildren, #sponsorbooksforchildren, #sponsortoysforchildren, #seruds, #kurnool
ZGB - The Role of Generative AI in Government transformation.pdfSaeed Al Dhaheri
This keynote was presented during the the 7th edition of the UAE Hackathon 2024. It highlights the role of AI and Generative AI in addressing government transformation to achieve zero government bureaucracy
2. OUT OF 193 COUNTRIES:
COUNTRIES WITH
NATIONAL VAT / GST
160
COUNTRIES WITHOUT
NATIONAL VAT / GST
33
3. TYPES OF TAXATION
• ORIGIN-BASED
(TAX ACCRUES TO THE
STATE WHERE THE
SUPPLY ORIGINATES)
• DESTINATION-
BASED
(TAX ACCURES TO THE
STATE WHERE THE
SUPPLY IS CONSUMED)
4. PURPOSE OF IGST ACT
•TO MAINTAIN
INTEGRITY OF
INPUT CREDIT
CHAIN.
•TO TAX IMPORT
OF SERVICES.
5. SECTION 5 OF IGST ACT
LEVY OF TAX NOT
EXCEEDING 40% ON
SUPPLY OF ALL GOODS
AND / OR SERVICES
MADE IN THE COURSE
OF INTER-STATE TRADE
OR COMMERCE
INTER-STATE INCLUDES -
• IMPORT OF SERVICES
AND
• EXPORT OF SERVICES
6. ARE ALL GOODS COVERED BY IGST?
NO. ALCOHOL FOR
HUMAN CONSUMPTION IS
BEYOND SCOPE OF IGST IN
VIEW OF ARTICLE 366(12A) OF
CONSTITUTION OF INDIA. “goods and service tax”
means any tax on supply of
goods, or services or both
except taxes in the supply
of the alcoholic liquor for
human consumption
7. WHAT ABOUT PETROLEUM PRODUCTS?
- PETROLEUM CRUDE
- PETROL
- DIESEL
- NATURAL GAS
- AVIATION TURBINE
FUEL
8. WHAT ABOUT ELECTRICITY?
SALE OF ELECTRICITY
IS STILL FIGURING IN
LIST-II (STATE LIST)
UNDER THE
C0NSTITUTION OF
INDIA AND WILL
THEREFORE
CONTINUE TO BE
TAXED BY THE STATES
9. COMBINATION OF GOODS / SERVICES
COMPOSITE SUPPLY:
SUPPLY CONSISTING OF TWO
OR MORE TAXABLE SUPPLIES
OF GOODS OR SERVICES OR
BOTH, OR ANY COMBINTION
THEREOF, WHICH ARE
NATURALLY BUNDLED AND
SUPPLIED IN CONJUNCTION
WITH EACH OTHER IN THE
ORDINARY COURSE OF
BUSINESS, ONE OF WHICH IS
A PRINCIPAL SUPPLY.
10. COMBINATION OF GOODS / SERVICES
MIXED SUPPLY:
TWO OR MORE
INDIVIDUAL SUPPLIES OF
GOODS OR SERVICES, OR
ANY COMBINATION
THEREOF, MADE IN
CONJUNCTION WITH EACH
OTHER FOR A SINGLE
PRICE, OTHER THAN A
COMPOSITE SUPPLY.
11. SECTION 7 OF CGST ACT
(1) Supply includes—
(a) all forms of supply of
goods and/or services
such as sale, transfer,
barter, exchange, license,
rental, lease or disposal
made or agreed to be
made for a
consideration by a
person in the course or
furtherance of business.
12. SUPPLY INCLUDES-
(b) importation of
services, for a
consideration
whether or not in
the course or
furtherance of
business, and
(c) a supply
specified in
Schedule I, made
or agreed to be
made without a
consideration.
13. SCHEDULE-I:
1. Permanent transfer / disposal of business assets where
input tax credit has been availed on such assets.
2. Supply of goods or services between related persons, or
between distinct persons as specified in Section 25, when
made in the course or furtherance of business.
3. Supply of goods by agent to principal and principal to agent
4. Import of services by a taxable person from a related
person or any of his other establishment outside India, in the
course or furtherance of business.
14. Section 2(17) of CGST Act:
Business includes
any trade,
commerce,
manufacture,
profession, vocation,
adventure or wager
or any similar
activity, whether or
not it is for a
pecuniary benefit.
15. BUSINESS INCLUDES…
• ANY ACTIVITY, WHETHER OR NOT THERE IS VOLUME,
FREQUENCY, CONTINUITY OR REGULARITY OF SUCH
TRANSACTION.
• PROVISION BY A CLUB, ASSOCIATION, SOCIETY, OR ANY
SUCH BODY OF THE FACILITIES OR BENEFITS TO ITS
MEMBERS.
• SERVICES SUPPLIED BY A PERSON AS A HOLDER OF AN
OFFICE WHICH HAS BEEN ACCEPTED BY HIM IN THE
COURSE OR FURTHERANCE OF HIS TRADE, PROFESSION OR
VOCATION.
• SERVICES PROVIDED BY A RACE CLUB BY WAY OF
TOTALISATOR OR A LICENCE TO BOOK MAKER IN SUCH
CLUB.
16. Section 7 of IGST Act:
Inter-state supply
means a supply
where the location
of the supplier and
the place of supply
are not within the
same State or Union
Territory.
17. INTER-STATE SUPPLY INCLUDES
• IMPORT / EXPORT OF
GOODS / SERVICES.
• SUPPLIES TO SEZ DEVELOPER
/ UNIT, FROM A PERSON
OUTSIDE SEZ, EVEN WITHIN
THE SAME STATE.
• SUPPLIES FROM SEZ
DEVELOPER / UNIT, TO A
PERSON OUTSIDE SEZ, EVEN
WITHIN THE SAME STATE.
• SUPPLIES MADE TO AN
INTERNATIONAL TOURIST.
18. ELECTRONIC CREDIT LEDGER
• IGST will be used for paying
IGST, then CGST and finally
SGST.
• CGST will be used for paying
CGST and then IGST.
• SGST will be used for paying
SGST and then IGST
CGST AND SGST CANNOT BE
USED FOR PAYING EACH
OTHER
19. ORDER OF PAYMENT
• First, self-assessed tax and
other dues related to
returns of previous tax
periods
• Next, self-assessed tax and
other dues related to the
return of the current tax
period
• Then, any other amount
payable under the Act or
rules including those
determined under Sections
66 and 67 of the CGST Act
(adjudicating process).
20. Section 16: zero-rated supplies
“zero rated supply” means any
of the following taxable supply
of goods and/or services,
namely –
• (a) export of goods and/or
services; or
• (b) supply of goods and/or
services to a SEZ developer or
an SEZ unit.
21. Zero-rated supplies (contd…)
Subject to provisions of
sub-section (5) of section
17 of the CGST Act, 2016,
credit of input tax may be
availed for making zero-
rated supplies,
notwithstanding that such
supply may be an exempt
supply.
22. Section 2(6) of IGST Act:
“export of services” means the
supply of any service when:
(a) the supplier of service is located
in India,
(b) the recipient of service is located
outside India,
(c) the place of supply of service is
outside India,
(d) the payment for such service has
been received by the supplier of
service in convertible foreign
exchange, and
(e) the supplier of service and
recipient of service are not
merely establishments of a
distinct person in accordance
with explanation 1 of section 5;
23. ZERO-RATED SUPPLY: Two options
• SUPPLY UNDER BOND
WITHOUT PAYMENT OF
IGST AND CLAIM
REFUND OF
UNUTILIZED INPUT TAX
CREDIT ; OR
• SUPPLY ON PAYMENT
OF IGST AND CLAIM
REFUND OF IGST PAID
ON GOODS AND
SERVICES PAID ON
SUCH OUTWARD
SUPPLY.
24. ADVANCE RULING
Sections 95 to 106
of CGST Act:
•Advance Ruling
(AAR, AAAR - There
is an appeal
provision; earlier no
statutory appeal)
25. ADVANCE RULING ON WHAT?
(a) classification of any goods or services or both;
(b) applicability of a notification issued under the provisions of this
Act;
(c) determination of time and value of supply of goods or services or
both;
(d) admissibility of input tax credit of tax paid or deemed to have
been paid;
(e) determination of the liability to pay tax on any goods or services
or both;
(f) whether applicant is required to be registered;
(g) whether any particular thing done by the applicant with respect
to any goods or services or both amounts to or results in a supply
of goods or services or both, within the meaning of that term.
26. ADVANCE RULING IS BINDING:
(a) on the applicant who had
sought it in respect of any
matter referred to in sub-
section (2) of section 97
for advance ruling;
(b) on the concerned officer
or the jurisdictional
officer in respect of the
applicant.
27. Section 19: Wrong payments
• If a person wrongly
pays IGST instead of
CGST/SGST, he will be
allowed refund subject
to conditions to be
prescribed.
• If a person wrongly
pays CGST / SGST
instead of IGST, no
interest liability is
fastened to him.
28. Section 15: refund to international tourist
The IGT paid by
a tourist leaving
India shall be
refunded the tax
paid on such
goods taken by
him out of India,
subject to
conditions
prescribed.
29. SECTION 15 OF IGST ACT:
TOURIST MEANS A
PERSON NOT
NORMALLY RESIDENT
IN INDIA, WHO ENTERS
INDIA FOR A STAY OF
NOT MORE THAN SIX
MONTHS FOR
LEGITIMATE NON-
IMMIGRANT
PURPOSES.