The document outlines the history and implementation of the Goods and Services Tax (GST) in India, highlighting key dates and legislative milestones from 2004 to 2017. It details the significant changes in the tax structure, the types of GST (CGST, SGST, IGST, UTGST), and provides information on tax slabs and exceptions. Additionally, it includes expert opinions, examples of tax scenarios, and the composition and decisions of the GST Council.

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GOODS AND SERVICES TAX (GST)
Presented By:
Naitik Kasavala

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Part-way of Goods and Service Act - 2017
 Vijay Kelkar committee recommended GST in 2004 during Atal Bhihari Vajpee Government.
 First discussion paper was published in 2009.
 On 7th May, 2015; Lok-Sabha passed it.
On 3rd August, 2015; Rajya-Sabha passed it.
 On 8th September; President of India signed the bill (Pranab Mukherjee).
 Implementation phase started from 1st July, 2017.

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Before 1st July, 2017 : Tax Structure
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.

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What GST changed?
Indirect Tax
Central Tax
Excise Service Tax Custome
State Tax
VAT
Entry Tax,
luxury tax,
Lottery Tax,
etc.

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…Expert Opinion…
Ankur Kulshrestha – CFA, IIM – C, BIMTECH

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Tax Structure Under GST
• Stands for State GST
• Tax collected by State Government
• Applicable on supplies within the state
• Stands for Integrated GST
• Tax collected is shared between Centre and State
• Applicable on interstate and import transactions
• Stands for Union Territory GST
• Tax collected by Union Territory
• Applicable on supplies within the Union Territory
SGST
IGST
UTGST
CGST
• Stands for Central GST
• Tax collected by Central Government
• Applicable on supplies within the state

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Tax absorbed under GST
Indirect Tax
Central Tax
Excise Service Tax Custome
State Tax
VAT
Entry Tax,
luxury tax,
Lottery Tax,
etc.
CGST SGST
IGST – Central State Tax &
Special Additional Duty &
Countervailing Duty

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GST Slab
GST RATE No. of items Items
0% 183 Mostly Agriculture Product
5% 308 Branded cereals, Edible oils, Sugar, Footwears
12% 178 Butter, Pasta, Bicycles, Diabetic foods
18% 517 Vinegar, Marbles, Mobile Phone, Plywood
28% 28 Cements, AC, Tabaco, Perfumes

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Exception to GST
Petroleum Products
1. Petrol
2. Diesel
3. Petroleum Crude
4. Aviation Fuel
5. Natural Gas
 Alcohol for Humans Consumption
 Power Sector

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Regarding Petrol Price
Price/Tax Amount Price/Tax Amount
Base Price 29.7
State Tax 25
Central Tax 33
Total 87.7
Total Tax 58
*365 Days 21,170
*140 Billion
Population
2,963,800 Billion
Base Price 29.7
SGST (28%) 4.158
CGST 4.158
Total 38
Total Tax 8.316
*365 Days 3,035.34
*140 Billion
Population
4,24,947 Billion
Government loss on tax = 2,538,853 Billion

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Saving to the Customer = Rs. 33,750
Comparison of Tax Scenario Under Old Tax System & GST
*Reference - CSC E-Governance Services India Limited
Particular Amount
Manufacturing cost 4,00,000
Excise @12%, Infrastructure @1%
Cess
52,000
VAT @12.5% 56,500
Dealer Invoice Value 5,08,500
Dealer Cost (4,00,000 + 52,000) 4,52,000
Margin 50,000
Sale Price for Dealer 5,02,000
VAT @12.5% 62,750
Final Price for Customers 5,64,750
GST Amount
4,00,000
CGST@9% 36,000
SGST@9% 36,000
4,72,000
4,00,000
50,000
4,50,000
CGST@9% 40,500
SGST@9% 40,500
5,31,000

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GST Return
GST Amount
4,00,000
CGST@9% 36,000
SGST@9% 36,000
4,72,000
4,00,000
50,000
4,50,000
CGST@9% 40,500
SGST@9% 40,500
5,31,000
Dealer paid Rs.36,000 as
GST to each State & Centre
Dealer Received Rs.40,500
As GST, for each State &
Centre
After selling cars,
Depending upon
GST return type;
Dealer need to
file GST of
Additional
Rs.4,500
(40,500 – 36000)

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…Expert Opinion…
Ankur Kulshrestha – CFA, IIM – C, BIMTECH

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…SMART BUSINESSMAN…
Particular Price
Total Cost (Including
Profit Margin)
177.78
VAT@12.5% 22.22
Final Price 200
Particular Price
Total Cost (Including
Profit Margin)
200
CGST@5% 10
SGST@5% 10
Final Price 220
So, VAT’s Rs. 22.22 are added to directly to additional profit

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GST Council
• From Union Minister
1
• From State Minister(GOI)
1
• From each State
28
• From Union Territory
3
Only 3 = Delhi, Jammu and Kashmir, Puducherry
--- This UT has higher population so there are in GST Council
44th meeting of GST
Council held on
12th June,2021
Decision Taken
About GST rate
related Oxygen,
Ventilators & Others
Medical Equipment.
GST Council Chairman – FM Nirmala Sitharaman

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Goods and Service Tax