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Nisarg Amin
 ‘G’- Goods
 ‘S’- Services
 ‘T’- Tax
 Goods and Services Tax (GST) is a single tax rate
levied on the manufacture, sale and consumption of
goods and services at a national level.
 It was introduced by ‘The Constitution (One
Hundred and First Amendment) Act 2016’.
 In this system, GST is levied only on the
value-added at every stage of production.
 This will ensure that there is no cascading
effect of taxes (tax on tax paid) on inputs
that are used in manufacturing of goods.
 Taxable goods and services are not
distinguished from one another and are
taxed at a single rate in a supply chain till
the goods or services reach the consumer.
• China - 17%
• Indonesia - 10%
• Philippines -10%
• Taiwan (Chinese Taipei) - 05%
• UK -17.5%
• Australia -10%
• France -19.6%
• Germany -16%
• Denmark -25%
No. of Countries : 140
 The GST council has decided a 4-tier
structure of 5%,12%,18% & 28%.
 Luxury items and demerit goods would be
taxed at highest rate while essential goods
would be taxed at lowest rate.
Tax Structure
Direct Tax
Income Tax Wealth Tax
Indirect Tax
Central Tax
Excise Service Tax Custome
State Tax
VAT
Entry Tax, luxury
tax, Lottery Tax,
etc.
Tax Structure
Direct Tax
Income Tax Wealth Tax
Indirect Tax =
GST (Except
customs)
Intra- state
CGST (Central) SGST (State)
Inter State
IGST (Central)
 Progressive Tax:
Increasing rate of tax for increasing value or
volume.
 Regressive Tax:
Decreasing rate of tax for increasing value
or volume.
 Proportional Tax:
Fixed rate of tax for every level of income or
production.
 Tax Cascading (Tax on Tax)
 Complexity
 Taxation at Manufacturing Level
 Exclusion of services
 Tax Evasion
 Corruption
 Introduction of GST to replace the existing
multiple tax structure of centre and state
taxes is not only desirable but imperative in
the emerging economic environment.
 Separate taxation of goods and services
often requires splitting of transaction values
into the value of goods and services for
taxation, which leads to greater
complexities.
 Integration of various taxes into a GST
system would make it possible to give full
credit for input taxes collected.
 GST, being a destination-based
consumption tax based on VAT principle,
would also greatly help in removing
economic distortions and will help in
development of a common national market.
Transaction
Selling
Price
GST
charged
Input tax
credits
GST paid
Forester sells trees to
timber mill
100 10 0 10
Timber mill processes
timber and sells to
furniture manufacturer
200 20 10 20-10=10
The Furniture
manufacturer sells to an
unregistered church
250 25 20 25-20=5
Total GST paid 25
How it would be in a non-GST Regime?
 In a full non-GST system, there is a cascading
burden of ‘tax on tax’, as there are no set-offs
for taxes paid on inputs or on previous
purchase.
Transaction Selling Price Tax
Forester sells trees to timber mill
100.00 10.00
Timber mill processes timber and
sells to furniture manufacturer
200.00 20.00
The Furniture manufacturer sells
to an unregistered church
250.00 25.00
Total Tax paid 55.00
 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 1 April 2010 in budget.
 The Government came out with a first
discussion paper on GST in November,
2009.
 Introduced the 115th constitution
Amendment (GST) Bill in the year 2011.
Goods & services tax (gst)
 Implemented in April-1/ 2005
 It is replacement to complex Sales Tax
 It overcomes a Cascading Effect of Tax
 It applied on “Value Added Portion” in Sales
Price
 A major problem with VAT is the way it taxes
inputs & outputs.
 Inputs are taxed at 4 percent and outputs at
12.5 percent.
 It is not uniform in nature.
 VAT is different for different states.
 Different rates of taxation for different
goods.
Goods & services tax (gst)
Central Taxes
•Central Excise
•Additional duties of
Custom (CVD)
•Service Tax
•Surcharges and all cesses
CGST
State Taxes
•VAT/sales tax
•Entertainment Tax
•Luxury Tax
•Lottery Tax
•Entry Tax
•Purchase Tax
•Stamp Duty
•Goods and passenger Tax
•Tax on vehicle
•Electricity, banking, Real state
SGST
 Petroleum Product
 Alcohol
 Tobacco Product
 Purchase Tax
 Zero Rating For Exports
 Transparent tax system
 Uniform tax system across India
 Reduce tax evasion
 Export will be more competitive
 Dispute between centre and state over tax
sharing.
 Highly sophisticated IT infrastructure
required.
 Issue of taxing financial services and E-
Commerce is to be appropriately addressed
and integrated.
 Political imbalance.
 Services will become expensive.
Ex: Telecom, banking, airline etc.
 Being a new tax, it will take some time for the
people to understand its implications.
 It is easier said than done. There are always
some complications attached.
 It is a consumption based tax, so in case of
services the place where service is provided
needs to be determined.
 If actual benefit is not passed to consumer and
seller increases his profit margin, the prices of
goods can also see a rising trend.
Goods & services tax (gst)

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Goods & services tax (gst)

  • 2.  ‘G’- Goods  ‘S’- Services  ‘T’- Tax  Goods and Services Tax (GST) is a single tax rate levied on the manufacture, sale and consumption of goods and services at a national level.  It was introduced by ‘The Constitution (One Hundred and First Amendment) Act 2016’.
  • 3.  In this system, GST is levied only on the value-added at every stage of production.  This will ensure that there is no cascading effect of taxes (tax on tax paid) on inputs that are used in manufacturing of goods.  Taxable goods and services are not distinguished from one another and are taxed at a single rate in a supply chain till the goods or services reach the consumer.
  • 4. • China - 17% • Indonesia - 10% • Philippines -10% • Taiwan (Chinese Taipei) - 05% • UK -17.5% • Australia -10% • France -19.6% • Germany -16% • Denmark -25% No. of Countries : 140
  • 5.  The GST council has decided a 4-tier structure of 5%,12%,18% & 28%.  Luxury items and demerit goods would be taxed at highest rate while essential goods would be taxed at lowest rate.
  • 6. Tax Structure Direct Tax Income Tax Wealth Tax Indirect Tax Central Tax Excise Service Tax Custome State Tax VAT Entry Tax, luxury tax, Lottery Tax, etc.
  • 7. Tax Structure Direct Tax Income Tax Wealth Tax Indirect Tax = GST (Except customs) Intra- state CGST (Central) SGST (State) Inter State IGST (Central)
  • 8.  Progressive Tax: Increasing rate of tax for increasing value or volume.  Regressive Tax: Decreasing rate of tax for increasing value or volume.  Proportional Tax: Fixed rate of tax for every level of income or production.
  • 9.  Tax Cascading (Tax on Tax)  Complexity  Taxation at Manufacturing Level  Exclusion of services  Tax Evasion  Corruption
  • 10.  Introduction of GST to replace the existing multiple tax structure of centre and state taxes is not only desirable but imperative in the emerging economic environment.  Separate taxation of goods and services often requires splitting of transaction values into the value of goods and services for taxation, which leads to greater complexities.
  • 11.  Integration of various taxes into a GST system would make it possible to give full credit for input taxes collected.  GST, being a destination-based consumption tax based on VAT principle, would also greatly help in removing economic distortions and will help in development of a common national market.
  • 12. Transaction Selling Price GST charged Input tax credits GST paid Forester sells trees to timber mill 100 10 0 10 Timber mill processes timber and sells to furniture manufacturer 200 20 10 20-10=10 The Furniture manufacturer sells to an unregistered church 250 25 20 25-20=5 Total GST paid 25
  • 13. How it would be in a non-GST Regime?  In a full non-GST system, there is a cascading burden of ‘tax on tax’, as there are no set-offs for taxes paid on inputs or on previous purchase.
  • 14. Transaction Selling Price Tax Forester sells trees to timber mill 100.00 10.00 Timber mill processes timber and sells to furniture manufacturer 200.00 20.00 The Furniture manufacturer sells to an unregistered church 250.00 25.00 Total Tax paid 55.00
  • 15.  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 1 April 2010 in budget.  The Government came out with a first discussion paper on GST in November, 2009.  Introduced the 115th constitution Amendment (GST) Bill in the year 2011.
  • 17.  Implemented in April-1/ 2005  It is replacement to complex Sales Tax  It overcomes a Cascading Effect of Tax  It applied on “Value Added Portion” in Sales Price
  • 18.  A major problem with VAT is the way it taxes inputs & outputs.  Inputs are taxed at 4 percent and outputs at 12.5 percent.  It is not uniform in nature.  VAT is different for different states.  Different rates of taxation for different goods.
  • 20. Central Taxes •Central Excise •Additional duties of Custom (CVD) •Service Tax •Surcharges and all cesses CGST
  • 21. State Taxes •VAT/sales tax •Entertainment Tax •Luxury Tax •Lottery Tax •Entry Tax •Purchase Tax •Stamp Duty •Goods and passenger Tax •Tax on vehicle •Electricity, banking, Real state SGST
  • 22.  Petroleum Product  Alcohol  Tobacco Product  Purchase Tax  Zero Rating For Exports
  • 23.  Transparent tax system  Uniform tax system across India  Reduce tax evasion  Export will be more competitive
  • 24.  Dispute between centre and state over tax sharing.  Highly sophisticated IT infrastructure required.  Issue of taxing financial services and E- Commerce is to be appropriately addressed and integrated.  Political imbalance.
  • 25.  Services will become expensive. Ex: Telecom, banking, airline etc.  Being a new tax, it will take some time for the people to understand its implications.  It is easier said than done. There are always some complications attached.
  • 26.  It is a consumption based tax, so in case of services the place where service is provided needs to be determined.  If actual benefit is not passed to consumer and seller increases his profit margin, the prices of goods can also see a rising trend.