The document provides an overview of the Goods and Services Tax (GST) implemented in India. It discusses that GST subsumes multiple indirect taxes into a single tax applied at the national level. GST is composed of Central GST and State GST for intrastate commerce, and Integrated GST for interstate commerce. The document outlines the tax structures before and after GST, registration requirements, tax rates, and exemptions. It also notes some flaws in the GST model related to additional taxes paid by local dealers and service supplies within a state.
GST In India An Overview and Impact.
Types of Taxes Covered in CGST, SGST, IGST
Benefits for Government and Customer
GDP growth rate
Many more to find in PPT
itelligence GST implementation
India is slated to adopt GST from Apr 1, 2017. Hence, businesses need to be technologically-ready
GST is a comprehensive indirect tax levied on Sale, Manufacture and Consumption of Goods and Services at the National level.
GST would apply to all goods other than crude Petroleum, Motor spirit, Diesel, Aviation Turbine fuel and Natural gas.
GST would apply to all services barring a few to be specified
Export and Direct taxes like Income Tax, Corporate Tax, Capital gains tax will not be affected by GST.
Imports will be subject to GST, but exports will be GST-exempt
Where the output is GST exempt, the GST paid on the input will be a cost to the business
GST In India An Overview and Impact.
Types of Taxes Covered in CGST, SGST, IGST
Benefits for Government and Customer
GDP growth rate
Many more to find in PPT
itelligence GST implementation
India is slated to adopt GST from Apr 1, 2017. Hence, businesses need to be technologically-ready
GST is a comprehensive indirect tax levied on Sale, Manufacture and Consumption of Goods and Services at the National level.
GST would apply to all goods other than crude Petroleum, Motor spirit, Diesel, Aviation Turbine fuel and Natural gas.
GST would apply to all services barring a few to be specified
Export and Direct taxes like Income Tax, Corporate Tax, Capital gains tax will not be affected by GST.
Imports will be subject to GST, but exports will be GST-exempt
Where the output is GST exempt, the GST paid on the input will be a cost to the business
This ppt gives an overview of the proposed GST bill in India. This ppt has custom animations which look like overlapped content on slideshare-viewer. It is recommended to download it on your system and then open using powerPoint-viewer.
The debate over the implementation of Goods and Services Tax (GST) has been tiresomely long.
GST is a critical reform in spurring growth in the Indian economy.
When it is introduced, GST is expected to make the tax system simpler and will also help in increased compliance, boost tax revenues, reduce the tax outflow in the hands of the consumers and make exports competitive. The new government will hopefully set forth a roadmap for the implementation of GST soon.
Today’s lesson on GST attempts to simplify this concept for you.
Patent Office in India publishes patent and design registration information on a weekly basis (on Friday each week). This is public notification, enabling the public to take appropriate action if desired. Data published on January 8th, 2016. Data sourced from Indian Patent Office website by InvnTree IP Service Pvt Ltd, a patent services company based in Bangalore
GST in India - Impact Assessment & ImplementationNimish Goel
GST is proposed to be implemented in India from April 1, 2017 and it is important for companies to get an impact assessment done and understand the implications on their margins, cash flows, business processes and tax obligations. International Business Advisors (www.ibadvisors.co) is working with its clients to help transition to this new legislation.
This presentation is on GST (Goods and Services Tax), it is about the new taxation system implemented in India. I have tried to keep all information about GST India.
A ‘flawless’ GST in the context of the federal structure which would optimize efficiency, equity and effectiveness. The ‘flawless’ GST is designed as a consumption type destination VAT based on invoice-credit method.The presentation in a nutshell describes the baseline of it.
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 .
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.
Top 20 GST Interview Questions and Answers in 2023 | Academy Tax4wealthAcademy Tax4wealth
Top 20 GST Interview Questions and Answers in 2023. Goods and Service Tax (GST) is a broad, multi-stage, tax applied at every stage where value is added. GST is the only indirect domestic tax for the entire country. Learn more!
For more info, visit us at:-
https://academy.tax4wealth.com/blog/gst-interview-questions-and-answers
Top 20 GST Interview Questions and Answers in 2023 | Academy Tax4wealthAcademy Tax4wealth
Top 20 GST Interview Questions and Answers in 2023. Goods and Service Tax (GST) is a broad, multi-stage, tax applied at every stage where value is added. GST is the only indirect domestic tax for the entire country. Learn more!
For more information, visit us at:-
https://academy.tax4wealth.com/blog/gst-interview-questions-and-answers
India Orthopedic Devices Market: Unlocking Growth Secrets, Trends and Develop...Kumar Satyam
According to TechSci Research report, “India Orthopedic Devices Market -Industry Size, Share, Trends, Competition Forecast & Opportunities, 2030”, the India Orthopedic Devices Market stood at USD 1,280.54 Million in 2024 and is anticipated to grow with a CAGR of 7.84% in the forecast period, 2026-2030F. The India Orthopedic Devices Market is being driven by several factors. The most prominent ones include an increase in the elderly population, who are more prone to orthopedic conditions such as osteoporosis and arthritis. Moreover, the rise in sports injuries and road accidents are also contributing to the demand for orthopedic devices. Advances in technology and the introduction of innovative implants and prosthetics have further propelled the market growth. Additionally, government initiatives aimed at improving healthcare infrastructure and the increasing prevalence of lifestyle diseases have led to an upward trend in orthopedic surgeries, thereby fueling the market demand for these devices.
Putting the SPARK into Virtual Training.pptxCynthia Clay
This 60-minute webinar, sponsored by Adobe, was delivered for the Training Mag Network. It explored the five elements of SPARK: Storytelling, Purpose, Action, Relationships, and Kudos. Knowing how to tell a well-structured story is key to building long-term memory. Stating a clear purpose that doesn't take away from the discovery learning process is critical. Ensuring that people move from theory to practical application is imperative. Creating strong social learning is the key to commitment and engagement. Validating and affirming participants' comments is the way to create a positive learning environment.
Enterprise Excellence is Inclusive Excellence.pdfKaiNexus
Enterprise excellence and inclusive excellence are closely linked, and real-world challenges have shown that both are essential to the success of any organization. To achieve enterprise excellence, organizations must focus on improving their operations and processes while creating an inclusive environment that engages everyone. In this interactive session, the facilitator will highlight commonly established business practices and how they limit our ability to engage everyone every day. More importantly, though, participants will likely gain increased awareness of what we can do differently to maximize enterprise excellence through deliberate inclusion.
What is Enterprise Excellence?
Enterprise Excellence is a holistic approach that's aimed at achieving world-class performance across all aspects of the organization.
What might I learn?
A way to engage all in creating Inclusive Excellence. Lessons from the US military and their parallels to the story of Harry Potter. How belt systems and CI teams can destroy inclusive practices. How leadership language invites people to the party. There are three things leaders can do to engage everyone every day: maximizing psychological safety to create environments where folks learn, contribute, and challenge the status quo.
Who might benefit? Anyone and everyone leading folks from the shop floor to top floor.
Dr. William Harvey is a seasoned Operations Leader with extensive experience in chemical processing, manufacturing, and operations management. At Michelman, he currently oversees multiple sites, leading teams in strategic planning and coaching/practicing continuous improvement. William is set to start his eighth year of teaching at the University of Cincinnati where he teaches marketing, finance, and management. William holds various certifications in change management, quality, leadership, operational excellence, team building, and DiSC, among others.
Taurus Zodiac Sign_ Personality Traits and Sign Dates.pptxmy Pandit
Explore the world of the Taurus zodiac sign. Learn about their stability, determination, and appreciation for beauty. Discover how Taureans' grounded nature and hardworking mindset define their unique personality.
"𝑩𝑬𝑮𝑼𝑵 𝑾𝑰𝑻𝑯 𝑻𝑱 𝑰𝑺 𝑯𝑨𝑳𝑭 𝑫𝑶𝑵𝑬"
𝐓𝐉 𝐂𝐨𝐦𝐬 (𝐓𝐉 𝐂𝐨𝐦𝐦𝐮𝐧𝐢𝐜𝐚𝐭𝐢𝐨𝐧𝐬) is a professional event agency that includes experts in the event-organizing market in Vietnam, Korea, and ASEAN countries. We provide unlimited types of events from Music concerts, Fan meetings, and Culture festivals to Corporate events, Internal company events, Golf tournaments, MICE events, and Exhibitions.
𝐓𝐉 𝐂𝐨𝐦𝐬 provides unlimited package services including such as Event organizing, Event planning, Event production, Manpower, PR marketing, Design 2D/3D, VIP protocols, Interpreter agency, etc.
Sports events - Golf competitions/billiards competitions/company sports events: dynamic and challenging
⭐ 𝐅𝐞𝐚𝐭𝐮𝐫𝐞𝐝 𝐩𝐫𝐨𝐣𝐞𝐜𝐭𝐬:
➢ 2024 BAEKHYUN [Lonsdaleite] IN HO CHI MINH
➢ SUPER JUNIOR-L.S.S. THE SHOW : Th3ee Guys in HO CHI MINH
➢FreenBecky 1st Fan Meeting in Vietnam
➢CHILDREN ART EXHIBITION 2024: BEYOND BARRIERS
➢ WOW K-Music Festival 2023
➢ Winner [CROSS] Tour in HCM
➢ Super Show 9 in HCM with Super Junior
➢ HCMC - Gyeongsangbuk-do Culture and Tourism Festival
➢ Korean Vietnam Partnership - Fair with LG
➢ Korean President visits Samsung Electronics R&D Center
➢ Vietnam Food Expo with Lotte Wellfood
"𝐄𝐯𝐞𝐫𝐲 𝐞𝐯𝐞𝐧𝐭 𝐢𝐬 𝐚 𝐬𝐭𝐨𝐫𝐲, 𝐚 𝐬𝐩𝐞𝐜𝐢𝐚𝐥 𝐣𝐨𝐮𝐫𝐧𝐞𝐲. 𝐖𝐞 𝐚𝐥𝐰𝐚𝐲𝐬 𝐛𝐞𝐥𝐢𝐞𝐯𝐞 𝐭𝐡𝐚𝐭 𝐬𝐡𝐨𝐫𝐭𝐥𝐲 𝐲𝐨𝐮 𝐰𝐢𝐥𝐥 𝐛𝐞 𝐚 𝐩𝐚𝐫𝐭 𝐨𝐟 𝐨𝐮𝐫 𝐬𝐭𝐨𝐫𝐢𝐞𝐬."
RMD24 | Retail media: hoe zet je dit in als je geen AH of Unilever bent? Heid...BBPMedia1
Grote partijen zijn al een tijdje onderweg met retail media. Ondertussen worden in dit domein ook de kansen zichtbaar voor andere spelers in de markt. Maar met die kansen ontstaan ook vragen: Zelf retail media worden of erop adverteren? In welke fase van de funnel past het en hoe integreer je het in een mediaplan? Wat is nu precies het verschil met marketplaces en Programmatic ads? In dit half uur beslechten we de dilemma's en krijg je antwoorden op wanneer het voor jou tijd is om de volgende stap te zetten.
What are the main advantages of using HR recruiter services.pdfHumanResourceDimensi1
HR recruiter services offer top talents to companies according to their specific needs. They handle all recruitment tasks from job posting to onboarding and help companies concentrate on their business growth. With their expertise and years of experience, they streamline the hiring process and save time and resources for the company.
Explore our most comprehensive guide on lookback analysis at SafePaaS, covering access governance and how it can transform modern ERP audits. Browse now!
What is the TDS Return Filing Due Date for FY 2024-25.pdfseoforlegalpillers
It is crucial for the taxpayers to understand about the TDS Return Filing Due Date, so that they can fulfill your TDS obligations efficiently. Taxpayers can avoid penalties by sticking to the deadlines and by accurate filing of TDS. Timely filing of TDS will make sure about the availability of tax credits. You can also seek the professional guidance of experts like Legal Pillers for timely filing of the TDS Return.
Cracking the Workplace Discipline Code Main.pptxWorkforce Group
Cultivating and maintaining discipline within teams is a critical differentiator for successful organisations.
Forward-thinking leaders and business managers understand the impact that discipline has on organisational success. A disciplined workforce operates with clarity, focus, and a shared understanding of expectations, ultimately driving better results, optimising productivity, and facilitating seamless collaboration.
Although discipline is not a one-size-fits-all approach, it can help create a work environment that encourages personal growth and accountability rather than solely relying on punitive measures.
In this deck, you will learn the significance of workplace discipline for organisational success. You’ll also learn
• Four (4) workplace discipline methods you should consider
• The best and most practical approach to implementing workplace discipline.
• Three (3) key tips to maintain a disciplined workplace.
[Note: This is a partial preview. To download this presentation, visit:
https://www.oeconsulting.com.sg/training-presentations]
Sustainability has become an increasingly critical topic as the world recognizes the need to protect our planet and its resources for future generations. Sustainability means meeting our current needs without compromising the ability of future generations to meet theirs. It involves long-term planning and consideration of the consequences of our actions. The goal is to create strategies that ensure the long-term viability of People, Planet, and Profit.
Leading companies such as Nike, Toyota, and Siemens are prioritizing sustainable innovation in their business models, setting an example for others to follow. In this Sustainability training presentation, you will learn key concepts, principles, and practices of sustainability applicable across industries. This training aims to create awareness and educate employees, senior executives, consultants, and other key stakeholders, including investors, policymakers, and supply chain partners, on the importance and implementation of sustainability.
LEARNING OBJECTIVES
1. Develop a comprehensive understanding of the fundamental principles and concepts that form the foundation of sustainability within corporate environments.
2. Explore the sustainability implementation model, focusing on effective measures and reporting strategies to track and communicate sustainability efforts.
3. Identify and define best practices and critical success factors essential for achieving sustainability goals within organizations.
CONTENTS
1. Introduction and Key Concepts of Sustainability
2. Principles and Practices of Sustainability
3. Measures and Reporting in Sustainability
4. Sustainability Implementation & Best Practices
To download the complete presentation, visit: https://www.oeconsulting.com.sg/training-presentations
2. Contents
Meaning of Tax.
Types of taxes.
Introduction.
History.
Tax Structures.
Implementations.
Model of GST.
GST Chain.
Functioning of GST.
Taxable Person.
Registration Under GST.
Returns.
Rate of Tax.
Exempted Goods.
Flaws of GST Model.
References.
3. TAX
A tax is a fee charged (levied) by a government on
a product, income, or activity. The purpose of
taxation is to finance government expenditure.
Use of tax in financing public goods and services,
such as street lighting, street cleaning
Infrastructure development.
4. Types Of Tax
Direct tax
Directly levied on the individual group or an
organization by the imposing entity.
Examples of direct taxes:
Income tax, corporate tax, wealth tax etc.
5. Indirect Tax
A tax levied on goods and services rather than
on income or profits.
Examples of indirect taxes:-
Excise duty, Customs duty, VAT, Central
sales tax, Entry tax, Octroi tax, Service tax,
etc.
6.
7. What Is GST
GST stands for Goods and Service Tax which is a
comprehensive tax levied on manufacture, sale and
consumption of goods and services at pan-India
level. Implying, GST will subsume host of central
(Excise, Countervailing Duty and Service Tax) and
state taxes (Octroi, VAT, Entry tax and Luxury tax).
GST is touted as the biggest indirect tax reform in
India since independence and is expected to boost
GDP growth by 100 to 150 basis points.
12. Existing Tax structure in India
Tax Structure
Direct Tax
Income Tax Wealth Tax
Indirect Tax
Central Tax
Excise Service Tax Custom
State Tax
VAT
Entry Tax, luxury
tax, Lottery Tax,
etc.
13. Proposed Tax Structure in India
Tax Structure
Direct Tax
Income Tax
Wealth Tax
Indirect Tax =
GST (Except
customs)
Intra- state
CGST
(Central)
SGST
(State)
Inter State
IGST
(Central)
14. State wise Implementation
S.No. State Passed On Government
1 Assam 12th August, 2016
BJP, CM Chief Minister
Sarbananda Sonowal
2 Bihar 16TH August, 2016 RJD-JDU, CM Nitish Kumar
3 Jharkhand 17th August, 2016 BJP, CM Raghubar Das
4 Himachal Pradesh 22nd August, 2016 Congress, CM Virbhadra Singh
5 Chhattisgarh 22nd August, 2016 BJP, CM RAMAN SINGH
6 Gujarat 23rd August, 2016 BJP, CM Vijay Rupani
7 Madhya Pradesh 24th August, 2016 BJP, CM Shivraj Singh Chouhan
8 Delhi 24th August, 2016 AAP, CM Arvind Kejriwal
16. 18 Rajasthan 2th September, 2016 BJP, CM Vasundhara Raje
19 Andhra Pradesh 8th September, 2016
TDP, CM N. Chandrababu
Naidu
20 Arunachal Pradesh 8th September, 2016
Janta Party, CM Prem
Khandu
21 Meghalya 9th September, 2016
Congress, CM Mukul
Sangma
22 Punjab 12th September, 2016
BJP-AKAALI, CM Prakash
Singh Badal
23 Tripura 26th September, 2016 CPI, CM Manik Sarkar
17. Subsuming of Existing Taxes
• Central Excise
• Additional duties of Custom
(CVD)
• Service Tax
• Surcharges and all cesses
CGST
• 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
• CST
IGST
18. Model of GST
SGST and CGST for intrastate transaction : In the GST system,
both Central and State taxes will be collected at the point of sale.
Both components (the Central and State GST) will be charged on
the manufacturing cost. This will benefit individuals as prices are
likely to come down. Lower prices will lead to more consumption,
thereby helping companies.
IGST for Interstate transaction: ‘IGST Model’ will be in place
for taxation of inter State transaction of Goods and Services. The
scope of IGST Model is that center would levy IGST which would
be CGST plus SGST on all inter State transactions of taxable goods
and services with appropriate provision for consignment or stock
transfer of goods and services.
19. GST Set off Chain
Manufacturer
• Input Credit of Goods+ services
• After taking set off of Input credit, pay the Output Liability on value addition
Wholesaler
• Input Credit of Goods+ services from manufacturer
• After taking set off of Input credit, pay the Output Liability on value addition
Retailer
• Input Credit of Goods+ services from wholesaler
• After taking set off of Input credit, pay the Output Liability on value addition
Consumer • Ultimate Output Liability recovered from consumer
20. Functioning of GST
The illustration shown how GST will work.
VAT GST
Base Price 100 100
+ 12% Excise duty 12 NA
+12.5% VAT 14 NA
State GST NA 8
Centre GST NA 12
Total Tax Burden 26 20
Value Of Product to
Consumer
126 120
21. Taxable Person
It will cover all types of person carrying on business activities, i.e.
manufacturer, job-worker, trader, importer, exporter, all types of service
providers, etc.
If a company is having four branches in four different states, all the four
branches will be considered as TP (Taxable person) under each jurisdiction
of SGs.
A dealer must get registered under CGST as it will make him entitle to claim
ITC of CGST thereby attracting buyers under B2B (Business to Business)
transactions.
Importers have to register under both CGST and SGST as well.
22. GST on Export of Goods and
Services
GST on export would be zero rated.
Similar benefits may be given to Special Economic Zones (in
processing zones only).
GST paid by Exporter on the procurement of goods and
services will be refunded.
23. Registration under GST
Each taxpayer would be allotted a PAN linked taxpayer
identification number with a total of 13/15 digits.
This would bring the GST PAN-linked system in line with
the prevailing PAN-based system for Income tax
facilitating data exchange and taxpayer compliance.
The exact design would be worked out in consultation
with the Income-Tax Department.
24. Returns under GST
The taxpayer would need to submit periodical returns to both
the Central GST authority and to the concerned State GST
authorities.
ITC credit can also be verified on the basis of the returns filed
and revenues reconciled against Challan data from banks.
Common standardized return for all taxes (with different
account heads for CGST, SGST, IGST) can come into picture.
25. Rate of Tax
The combined GST rate is being discussed by government.
The rate is expected around 16 per cent.
After the total GST rate is arrived at, the States and the Centre
will decide on the CGST and SGST rates.
Currently, services are taxed at 12 per cent and the combined
charge indirect taxes on most goods are around 20 per cent.
26. Rate of GST in some Countries
Country Tax Rate
Australia 10%
France 19.60%
Canada 5%
Germany 19%
Singapore 7%
New Zealand 15%
27. Exemption of Goods and Services Tax
Alcohol.
Tobacco Products.
Petroleum Products.
28. GST and Information Technology (IT)
Interface
Based on the legal provisions and procedure for GST,
the content of work-flow software such as ACES
(Automated Central Excise & Service Tax) would
require review.
On the IT front, there has been consensus that there
will be a common portal providing three core services
(registration, returns and payments).
29. Flaws of GST Model
Major flaw of this model is , Local Dealers have to pay CGST in
addition to SGST.
In Addition to this, CGST mainly represents the Excise/service tax
and SGST mainly represents the VAT portion but, because of ‘No
differentiation between Goods and Services’ service supply within
the state would attract SGST as GST is levied at each stage in the
supply chain and Assessee have to Pay CGST as well SGST.
The issue which still needs to be resolved are, the revenue sharing
between States and Centre, and a framework for exemption,
thresholds and composition.