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INTRODUCTION
• GST is an indirect tax levied on the supply of goods and
services. GST Law has replaced many indirect tax laws that
previously existed in India
• The Goods and Services Tax has revolutionized the Indian
taxation system. The GST Act was passed in the Lok Sabha
on 29th March, 2017, and came into effect from 1st July,
2017.
HISTORY
OF GST
3
COMPONENTS
OF GST
4
CGST
SGST
IGST
ADVANTAGES
OF GST
REMOVE
CASCADING
EFFECT
HIGHER
THRESOLD FOR
REGISTRATION
COMPOSITION
SCHEME FOR
SMALL BUSINES
ONLINE SIMPLE
PRODUCE
UNDER GST
LESSER
COMPLAINES
DEFINED
TREATMENT FOR
E-COMMERCE
INCREASED
EFFICIENCY
LOGISTICS
REGULATING THE
UNORGANIZED
SECTOR
DISADVANTAGES
OF GST
CHANGE IN
BUSINESS
SOFTWARE
GST
COMPLIANCE
INCREASE IN
OPERATING
COST
HIGHER TAX
BURDEN FOR
MANUFACTURING
SMEs
NO CLARITY OF
TAX HOLIDAYS
DISCRUPTION
TO BUSINESS
POLICY CHANGE
DURING THE MID
OF THE YEAR
ONLINE
PROCEDURE

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Goods and service tax (GST)

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