GST is an indirect tax that will be applied uniformly across India to replace existing multiple taxes levied on goods and services. It is proposed to be a single tax on the supply of goods and services, thus eliminating tax on tax. The tax will be levied at the final point of consumption based on the value-added at each stage of production and distribution. Key taxes to be subsumed include central excise duty, services tax, state VAT, and other local body taxes. While it aims to simplify and harmonize the indirect tax system, some states have not ratified the GST bill yet due to concerns around implementation challenges and revenue losses.
This ppt was presented for a district level inter college paper presentation competition conducted by Sri Krishna College of Engineering and Technology. The event was conducted within three days of the announcement of the IMPLEMENTATION OF GST by THE GOVERNMENT OF INDIA.The topic is "Effect of GST on Various Sectors". The team comprises of myself, Mr.Ajay, Mr. Akhil Naga Surya, Mr.Prasanna. We won the first prize in the competition. We presented under the topic, "Effect of GST on Paint & Cement Sectors of Indian Economy".
This is a brief ppt about gst it's impact advantages and also include a hypothetical numerical example. This ppt has bullets points only so you need to read about those points.
How Gst & Demonetisation Affects Your Personal WealthManish Hingar
Highlights from the Seminar:
*How GST & Demonetization affect your Asset Classes like
Real Estate, Equity, Debt, & Gold.
*Investment approach in current geopolitical scenario
This ppt was presented for a district level inter college paper presentation competition conducted by Sri Krishna College of Engineering and Technology. The event was conducted within three days of the announcement of the IMPLEMENTATION OF GST by THE GOVERNMENT OF INDIA.The topic is "Effect of GST on Various Sectors". The team comprises of myself, Mr.Ajay, Mr. Akhil Naga Surya, Mr.Prasanna. We won the first prize in the competition. We presented under the topic, "Effect of GST on Paint & Cement Sectors of Indian Economy".
This is a brief ppt about gst it's impact advantages and also include a hypothetical numerical example. This ppt has bullets points only so you need to read about those points.
How Gst & Demonetisation Affects Your Personal WealthManish Hingar
Highlights from the Seminar:
*How GST & Demonetization affect your Asset Classes like
Real Estate, Equity, Debt, & Gold.
*Investment approach in current geopolitical scenario
A study on GST and the areas of its impact in banking & financial servicesSwapna RBS
A brief study on GST, sectoral impacts, winners and losers of GST, rates of GST, Taxes subsumed by GST, areas of impact in banking and financial services, advantages of GST, challenges of GSt
Goods and services tax in nutshell ,possibility and problemsPrashant Arsul
It is a destination based tax on consumption of goods and services
It is levied at all stages right from manufacture up to final consumption with credit of taxes paid at previous stages available as setoff.
only value addition will be taxed and burden of tax is to be borne by the final consumer
Precautions in GST for Construction / Project Sectorsandesh mundra
Points of precautions are compiled after comparing expected GST provisions and current taxation conflicts. Attempt is made to touch all the conflicting grounds that exists in present scenario and there expected impact and effect in awaiting GST regime. Emphasis is given on Construction and Real estate sector. Issue and concerns are highlighted in order to handle these issues with caution.
This presentation wiill make people understand about the basics of GST such as the merits,demerits, how will it impact the economy and many such things
SYNERGY Global VAT/GST update – Overview of recent changes & what’s on the ho...Alex Baulf
Slides from Thomson Reuters' SYNERGY conference London, 2013 session with Grant Thornton discussing recent topical VAT/GST reform from around the globe. Topics discussed include the China VAT reform, the US Marketplace Fairness Act, GST in India, and the EU VAT changes in 2015.
The upcoming indirect tax structure of India. Would be eliminating most of the indirect taxes prevailing in India. There we will be disussing all about GST. What & why of GST in a brief. An Initiative by CA Connect India & team
A study on GST and the areas of its impact in banking & financial servicesSwapna RBS
A brief study on GST, sectoral impacts, winners and losers of GST, rates of GST, Taxes subsumed by GST, areas of impact in banking and financial services, advantages of GST, challenges of GSt
Goods and services tax in nutshell ,possibility and problemsPrashant Arsul
It is a destination based tax on consumption of goods and services
It is levied at all stages right from manufacture up to final consumption with credit of taxes paid at previous stages available as setoff.
only value addition will be taxed and burden of tax is to be borne by the final consumer
Precautions in GST for Construction / Project Sectorsandesh mundra
Points of precautions are compiled after comparing expected GST provisions and current taxation conflicts. Attempt is made to touch all the conflicting grounds that exists in present scenario and there expected impact and effect in awaiting GST regime. Emphasis is given on Construction and Real estate sector. Issue and concerns are highlighted in order to handle these issues with caution.
This presentation wiill make people understand about the basics of GST such as the merits,demerits, how will it impact the economy and many such things
SYNERGY Global VAT/GST update – Overview of recent changes & what’s on the ho...Alex Baulf
Slides from Thomson Reuters' SYNERGY conference London, 2013 session with Grant Thornton discussing recent topical VAT/GST reform from around the globe. Topics discussed include the China VAT reform, the US Marketplace Fairness Act, GST in India, and the EU VAT changes in 2015.
The upcoming indirect tax structure of India. Would be eliminating most of the indirect taxes prevailing in India. There we will be disussing all about GST. What & why of GST in a brief. An Initiative by CA Connect India & team
INDIRECT TAX REVENUE - AN ASSESSMENT OF CENTAL V/S STATE GOVERNMENT IAEME Publication
Tax collection in India is primarily done under the category of direct and indirect sources of tax by three tier system that is, the central government, the state government and the local government. However, the concentrate of present study is on the assessment of indirect tax revenues by central and state government. In addition to this certain statistical tools are also applied in order to present a livelier picture of tax collection by central government and state government through indirect sources.
GST is regarded as the major reform in the field of Indian Indirect Taxation. This presentation will help in understanding the likely framework of GST, its impact and some challenges in its implementation.
Message/ whatsapp your ID on the details provided in the presentation if you want to get the Excel sheet "lets calculate" which shows the impact on tax and price of goods/services.
Basic Concept and Impact Presentation on GST by RAMAKapil Bansal
India is fast moving towards one of the most critical tax reforms i.e. the Goods and Services Tax (GST). In fact, as widely acclaimed GST is not just a reform in tax structure rather it is a paradigm shift in the way business is conducted in India. Attached herewith is a brief thoughtful presentation, prepared by the team RAMA, aimed to assist in understanding the basics of GST and its wide impact on businesses. Will be delighted to have your feedback on the subject (please do share as appropriate).
about gst in india. all about one nation,one tax,what are he tax rates . hoew it is different from previous tax. why it is better,what are its benefits and disadvantages . what will be its impact in indian economy
specially for class 11 eco project i made this and good marks
helps in understanding gst
VARIOUS FORMS OF INCOME TAX ,BASIC KNOWLEDGE OF GST PPT WHICH REQUIRED FOR A STUDENT TO UNDERSTAND DIRECT AND INDIRECT TAXATION. STUDENTS STUDYING B.COM AND M.COM WILL BE BENEFITED . FOR PRACTITIONERS ALSO WILL BENEFIT.
Basic Features, Opportunities and Benefits of GST Implementation in IndiaArul Edison
The Goods and Services tax (GST) is an indirect tax. It is levied at every stage of the production and distribution of products. It is actually changes on the final consumption of the products. It includes excise duty, custom duty; Services tax and Value add tax (VAT). The GST is a VAT to be implemented in India. The decision on which is not yet declared by Government and the framing of rules are under process. Several countries implemented this tax system followed by France, the first country introduced GST. Goods and service tax is a new story of VAT which gives a widespread setoff for input tax credit and subsuming many indirect taxes from state and national level. Presently around 140 countries have adopted the GST pattern, including India. The GST would be beneficial for the consumers as it reduces the final burden of taxation. Therefore, the researchers have discussed the possible salient features, opportunities and benefits of GST implemented.
Power point presentation for GST:-
GST is a tax on goods and services. GST is an Indirect Tax which has replaced many Indirect Taxes in India. The Goods and Service Tax Act was passed in the Parliament on 29th March 2017. The Act came into effect on 1st July 2017
GST stands for Goods and Services Tax, India.
It is a comprehensive tax levied by the government on the supply of goods and services. It is also an indirect tax, replacing other central and state levied indirect taxes. GST has brought the whole India under one tax regime, saving time and resulting in a low tax burden.
Traditionally India’s tax regime relied heavily on indirect taxes. Revenue from indirect taxes was the major source of tax revenue till tax reforms were undertaken during nineties. The major argument put forth for heavy reliance on indirect taxes was that the India’s majority of population was poor and thus widening base of direct taxes had inherent limitations. But the Indian system of indirect taxation is characterized by cascading, distorting tax on production of goods and services which leads to hampering productivity and slower economic growth. There are endless taxes in present system few levied by Centre and rest levied by state, to remove this multiplicity of taxes and reducing the burden of the tax payer a simple tax is required and that is Goods and Service Tax (GST). This paper throws an insight into the Goods and Service Tax concept, advantages, disadvantages and international scenario
VARIOUS FORMS OF INCOME TAX ,BASIC KNOWLEDGE OF GST PPT WHICH REQUIRED FOR A STUDENT TO UNDERSTAND DIRECT AND INDIRECT TAXATION.
STUDENTS STUDYING B.COM AND M.COM WILL BE BENEFITED .
2. WHAT IS GST?
It is an indirect tax for the whole nation.
GST is the single tax on the supply of goods
and service right from the manufacturer to
the consumer.
The final consumer will thus bear only the
GST charged by the last dealer in the supply
chain.
3. WHICH OTHER TAXES AT THE CENTRAL AND
STATE LEVEL ARE BEING INCLUDED IN GST?
At CENTRAL level.
Central Excise Duty.
Additional Excise Duty.
Service Tax.
Additional custom Duty
commonly known as
Countervailing Duty.
Additional duties on
customs.
At STATE level.
Includes state value
added tax.
Entertainment Tax.
Octroi.
Purchase Tax.
Luxury Tax.
Taxes on lottery.
4. RATIFICATION
States and union territories of India
that have ratified the Goods and
Services Tax Bill.
Assam (12 August)
Bihar (16 August)[
Jharkhand (17 August)
Himachal Pradesh (22 August)
Chhattisgarh (22 August)
Gujarat (23 August)
Madhya Pradesh (24 August)
Delhi (24 August)
Nagaland (26 August)
Maharashtra (29 August)]
Haryana (29 August)
Telangana (30 August)
Sikkim (30 August)
Mizoram (30 August)
Goa (31 August)
Odisha (1 September)
Puducherry (2 September)
Rajasthan (2 September)
Andhra Pradesh (8 September)
Arunachal Pradesh (8 September)
Meghalaya (9 September)
Punjab (12 September)
Tripura (26 September)
Did not ratify:
Jammu and Kashmir
Karnataka
Kerala
Manipur
Tamil Nadu
Uttar Pradesh
Uttarakhand
West Bengal
5. OBJECTIVES OF GST
The main objective of GST would be to eliminate the
DOUBLY TAXATION i.e. cascading effects of taxes
on production and distribution cost of goods and
services.
The exclusion of cascading effects i.e. tax on tax till
the level of final consumers will significantly improve
the competitiveness of the original goods and
services in market.
Introduction of GST to replace the existing multiple
tax structures of centre and state taxes is not only
desirable but imperative.
G ST, being a destination-based consumption tax
based on VAT principle.
7. RATES OF GST
AUSTRALIA - 10%
FRANCE - 19.6%
CANADA - 5%
GERMANY - 19%
JAPAN - 5%
SINGAPORE - 7%
NEW ZEALAND - 15%
There would be two rate structure– a lower rate fir
necessary items and items of basic importance &
a standard rate for goods in general. A special rate
for precious metals
8. ADVANTAGES AND BENEFITS
Advantages of GST Bill
*Introduction of a GST is very much essential in the emerging environment of the Indian
economy.
There is no doubt that in production and distribution of goods, services are increasingly
used or consumed and vice versa. Separate taxes for goods and services, which is the
present taxation system, requires division of transaction values into value of goods and
services for taxation, leading to greater complications, administration, including co
mpliances costs. In the GST system, when all the taxes are integrated, it would make
possible the taxation burden to be split equitably between manufacturing and services.
GST will be levied only at the final destination of consumption based on VAT principle
and not at various points (from manufacturing to retail outlets). This will help in
removing economic distortions and bring about development of a common national
market.
It will also help to build a transparent and corruption-free tax administration. Presently, a
tax is levied on when a finished product moves out from a factory, which is paid by the
manufacturer, and it is again levied at the retail outlet when sold.
Benefits of GST Bill
*According to experts, by implementing the GST, India will gain $15 billion a year. This is
because, it will promote more exports, create more employment opportunities and boost