I. Introduction. Introduction of Goods & Service Tax (GST) in India required an amendment in the Constitution to bring concurrent powers to both the Central & State Government so that both the Government could make law & impose GST on transaction of supply of Goods and Services. For this, The Constitutional (One Hundred and Twenty Second Amendment) Bill, 2014 introducing GST received the assent of the President on 8th September, 2016 and the same has been notified as the Constitution (101st Amendment) Act, 2016. The Draft Model GST Law was placed on Public portal by Government of India on 14th June, 2016 inviting various comments and suggestions and once again Government placed Revised Model GST Law on 25th November, 2016 with the clear intention of implementing GST by April, 2017 which is applicable to whole of India including Jammu & Kashmir. VI. Conclusion The Country is eagerly waiting for roll-out of GST but this is a mammoth task before the government that is to be achieved within the target date of April, 2017. Task towards implementation of GST will take our country into a new tax regime and shall also result in generating more employment opportunities and also help all the business sectors to grow.

1. Revised Model GST Law Dated 25-11-2016 .
Came into force on the date as may be notified.

2. A. Present Tax Structure
B. GST Law on Public Portal
C. Intra State & Inter State Supply
D. Levy & Collection of CGST/SGST/IGST
E. Input Tax Credit Overview
F. Utilization of ITC for Payment

3. •Currently, India has a Dual System of Taxation on Goods
& Services.
•Tax on activity of manufacture & provision of service is
levied & collected by Union Government.
•Tax on sale of goods is levied & collected by State
Government.
•Means- Multiplicity of taxes :
•Be at Central Level.
•Be at State Level.

4. •Excise Duty including Additional Excise Duty.
•CVD & SAD under Custom Duty (excluding BCD).
•Service Tax.
•Surcharges & Cesses.

5. •Value Added Tax. (VAT)
•Central Sales Tax. (CST)
•Entertainment Tax unless levied by local bodies.
•Luxury Tax.
•Entry Tax.
•Taxes on lottery , betting & gambling.
•State Cesses & Surcharges

6. •The Draft Model GST Law was 1st time placed on public
portal by Government on 14th June, 2016.
•The Government once again placed Revised Model GST Law
on 25th November, 2016.
•With the clear intention to implement GST by 1st April,2017.
•Applicable – whole of India.
•Date – to be notified.

7. GST is defined in Article 366 of the Constitution (101st
Amendment) Act, 2016:
•Goods & Service Tax means tax on supply of:
•Goods, or
•Services, or
•Both.
•Except taxes on the supply of the alcoholic liquor for human
consumption.

8. GST would be leviable on Two types of Supply
Intra-State Supply
CGST & SGST
Inter-State Supply
IGST
•CGST – Central Goods & Service Tax.
•SGST – State Goods & Service Tax.
•IGST- Integrated Goods & Service Tax.

9. Inter State Supply Includes-
•Supply from one state to another state.
•Import of Goods/Services in India.
•Export of goods/Services outside India.
•Supply of Goods/Services to Special Economic Zone developer
or Unit.

10. Normal Levy on Intra State Supply- [Section 8]
•The provisions of levy & collection on Intra State Supply are
contained in Chapter III of Central/State Goods & Service Tax Act,
2016.
•CGST/ SGST shall be levied on Intra State Supply.
•CGST will be levied & collected by Central Government.
•SGST will be levied & Collected by State Government.
•At the rate as may be notified by CG/SG but not exceeding 14%
CGST & 14% SGST.

11. Levy under Reverse Charge on Intra State Supply-
[Section 8(3)]
•The CG/ SG shall specify the categories of supply of
Goods / Services fall under Reverse Charge.
•Reverse charge is only a mode of collection.
• which will describe the supplies where the receiver will
be liable to pay GST (wholly or partially) to CG/SG

12. Composition Levy on Intra State Supply- (Section 9)
•A registered taxable person:
 whose aggregate turnover in a financial year does not
exceed fifty lakh rupees
may pay tax under composition scheme
At the rate as may be prescribed.
Which should not be less than:
•2.5% in case of Manufacturer
&
•1% in other cases.

13. Composition Levy (Section 9)
•Composition Scheme not available for:
 Person who is making supply of services;
Person who is making inter state supply;
•Taxable person opting composing scheme shall neither collect
any tax from the recipient on supplies made by him nor shall be
entitled for ITC.

14. Normal Levy on Inter State Supply- [Section 5]
•The provisions of levy & collection on Inter State Supply are
contained in Chapter III of Integrated Goods & Service Tax Act,
2016.
•IGST shall be levied on Inter State Supply.
•At the rate as may be notified by CG but not exceeding 28%.
•IGST will be levied & collected by Central Government which will
be apportioned between Central & State Government.

15. •Levy under Reverse Charge on Inter State Supply- [Section 5(3)]
The CG/ SG shall specify the categories of supply of Goods /
Services
On which the tax shall be levied & collected under Reverse
Charge.
•Composition Levy - Not Available on inter State Supply.

16. •On Account of the provisions of ITC, GST is a Value Added
Tax as Govt. will collect tax on each stage of supply after
allowing the Credits for the Inputs & Input Services.
•Input tax means tax paid on any inward supply of Goods or
Services
•It also includes tax paid under Reverse Charge
•It does not include tax charged under Composition Scheme.

17. •Every registered taxable person is eligible to take credit of input
tax.
•Charged on any supply of goods/ services
•Which is used or intended to be used in the course or
furtherance of his business
•The amount so charged shall be credited to electronic credit
ledger of such person.

18. •Registered taxable person is entitled to get ITC if-
Having possession of taxpaying docs such as invoice &
debit note & others.
Has received or deemed to received the goods and/or
services.
Tax charged for such supply has been actually paid .
Has furnished return as per sec.34.
•If goods received in lots/installments- on receipt of last
installment.

19. I T C
CGST I GSTSGST
CGS
T
IGST SGST IGST IGST
CGS
T
SGST

20. Multiplicity of Double taxation is going away after
implementing the GST:
•If Excise charged by a manufacturer to a VAT dealer,
Credit is not available in the hand of VAT dealer.
•Similarly, VAT charged by VAT dealer, Credit is not
available in the hand of Manufacturer & Service Provider.
•CST Credit not available.
•Entry Tax Credit not available.

21. •If a VAT registered dealer is having offices in 29 States.
He should have follow 29 States which will go away in
GST.
•So, the Country is waiting of GST but this is a
mammoth task before the government that is to be
achieved within the target date of April, 2017

22. Thank you
GST- Good Night, Sweet Dreams & Take Care.