GST (goods and service tax) is a proposed bill that will replace India's current taxation system with a single tax across the entire country, removing multiple taxes. It will include CGST (central GST), SGST (state GST), and IGST (inter-state GST). The GST is expected to boost India's economy by reducing the tax burden on consumers, increasing manufacturing in India, and providing other benefits like easing business costs and stimulating the GDP. For the GST bill to be cleared, it requires ratification by at least 15 states and must pass in the Rajya Sabha and Lok Sabha before receiving presidential consent.

1. GST (goods and service tax )
• GST is the proposed bill for changing
taxation system in india.It is a policy
which will allow single tax in whole
country freeing india of multiple
taxation system.
• The GST include several forms :
• CGST(central gst)
• SGST (state GST )
• IGST (inter GST )

2. Benefits of gst
• It will overall reduce the burden on consumer
and will boost economy.
• Arun jaitely has predicted rise in GDP by 2-3 %annually
.
• It will end all other cascading effect of tax on tax will
give big to consumers from manufact. Sector .
• It will increase manufacturing ease in India and will
boost public provident fund .
• Many europeans and american countries have already
implented the GST bill since 2000, and we all can see
that how they are developing .

3. Path for clearance
• Rajya sabha has already passed the
constitutional amendment bill.
• Ratification of atleast 15 states is required for
clearance of GST bill .
• After that the bill needs to be cleared on lok
sabha . GST council needs to be formed along
with new taxation laws and regulation .
• And finally president consent is must .

4. How will it work
• In simple term i can say that overall taxation
process will be simple.Any one shall have
information regarding GST .
• The government will have larger tax base
and taxation process will be simple . Five
year compensation period will be setup for
state government to get compensation .
• Central goverment will form GST council
which will look into matters regarding it .

5. One India
one tax

6. Immediate effect
• The service sector may get costlier . Eating
outside may be costlier and expensive . This
due to rise in service tax from 14% to 18%.
• Intially economy will slump . States will have
tough time to maintain revenue .
• union budget shall loose its importance .

7. HOPEFOR BEST
JAY HIND

8. VERY MUCH
Thankyou