The document discusses key aspects of the Goods and Services Tax (GST) implemented in India in 2017. It notes that France was the first country to implement a GST in 1954. It outlines the objectives of GST as consolidating indirect taxes and creating tax efficiencies. The document also describes the tax structure under GST, including CGST, SGST and IGST; registration requirements for businesses; and return filing process. It highlights some challenges of the dual GST model, including taxpayers having to pay both CGST and SGST for intra-state supplies.

1. A Presentation by
Manoj Verma

2.  Currently, there are 160 countries in the world that have
implement VAT/GST.
 France is the first country in the world, which has
implemented GST In 1954.
 Only Canada has dual GST model(Just like India).
 GST, was launched on the midnight of 30 June 2017 by the
Prime Minister of India Narendra Modi.
 The Government of India has introduced Constitution
(122nd Amendment) Bill on 19th December, 2014 the Lok
Sabha has passed the bill on 6th .
 GST Bill Passed in Rajya Sabha on 3rd August 2016 (03-08-
2016).

3.  GST stands for “Goods and Services Tax”.
 GST is proposed to be a comprehensive indirect tax levy on
manufacture, sale and consumption of goods as well as
services at the national level.
 Main objective- consolidates all indirect tax levies into a
single tax.
 Overcoming the limitations of existing indirect tax structure,
and creating efficiencies in tax administration.
 GST is with the lower rates for some items also a highest for
some luxury items.
 GST is glorified the system of taxation by a economy will take
upward swing.

4.  Transparent Tax system.
 Uniform tax system across INDIA.
 Reduce tax evasion.
 Export will be more competitive.
 invoicing/ accounting will be simple.
 Zero rating (export) will be more comprehensive and
easier.
 Big central excise tariff will go.
 GST proposed rate is below R.N.R i.e ( 20% to 22%)
impact on manufacturing sector.
 Adverse effect on unorganized small manufacturer.
 Cost of production reduced.

5. 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.

6. Tax Structure
Direct Tax
Income Tax Wealth Tax
Indirect Tax =
GST (Except
customs)
Intra- state
CGST (Central) SGST (State)
Inter State
IGST (Central)

8.  India is a federal country where both the Centre
and the States have been assigned the powers to
levy and collect taxes.
 The GST to be levied by the Centre on intra-State
supply of goods and/or services is Central GST
(CGST) and that by the States is State GST (SGST).
 On inter-state supply of goods and services,
Integrated GST (IGST) will be collected by Centre.
IGST will also apply on imports.

9. •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

10. •Milk Kajal, Egg, Educations Services, Health Services
•Lassi Children’s Drawing & Colouring Books, Unpacked
Foodgrains, Unbranded Atta Unpacked Paneer
Unbranded Maida Gur, Besan, Unbranded Natural
Honey, Prasad Fresh Vegetables, Palmyra Jaggery
•Salt, Phool Bhari Jhadoo.
0%
•SugarPacked Paneer Tea Coal Edible Oils Raisin
•Domestic LPG Roasted Coffee Beans Kerosene
Skimmed Milk Powder Cashew Nuts Footwear (<
Rs.500) Milk Food for Babies Apparels (< Rs.1000)
•Fabric, Coir Mats, Matting & Floor Covering Spices
Agarbatti Coal Mishti/ Mithai (Indian Sweets)
•Life-saving drugs Coffee .
5%

11. •Butter Computers Ghee Processed food AlmondsMobiles
•Fruit Juice Preparations of Vegetables, Fruits, Nuts or
other parts of Plants including Pickle Murabba, Chutney,
Jam, Jelly, Packed Coconut Water Umbrella.
12%
•Hair Oil Capital goods Toothpaste Industrial
Intermediaries
•Soap Ice-cream Pasta Toiletries
•Corn Flakes Computers
•Soups Printers
18%
•Small cars (+1% or 3% cess) High-end motorcycles (+15%
cess)
•Consumer durables such as AC and fridge.
•Luxury & sin items like BMWs, cigarettes and aerated
drinks (+15% cess)
28%

12.  Every business carrying out a taxable supply of
goods or services under GST regime.
 The turnover exceeds the threshold limit of Rs. 20
lakh / 10 Lakh as applicable will be required to
register as a normal taxable person.

14.  Under the GST law, a normal taxpayer will be
required to furnish three returns monthly and one
annual return.
 Form GSTR-1 by the 10th of the subsequent
month.
 Form GSTR-2 by 15th of the subsequent month.
 Form GSTR-3 by the 20th of the subsequent month.

16.  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.