GST is an indirect tax levied on the supply of goods and services in India. It replaced multiple existing indirect taxes levied by the central and state governments. GST aims to integrate state economies and boost tax revenues. It introduces input tax credit which eliminates cascading of taxes and benefits both businesses and consumers. While GST faced initial challenges during implementation, it has since boosted tax collection and helped build a more transparent, less corrupt tax system in India. Overall, GST has proven to be a boon for the Indian economy by increasing tax revenues and facilitating the ease of doing business across state borders.

1. GST in India
By
Dr.P.MAHESWARI

2. What is a TAX
• Tax is nothing but money that people have to
pay to the Government, Which is used to
provide public services.

3. Types of Taxes

4. Why Taxes
• Raising Revenue
• Encouraging Domestic Industries
• Stimulating Investment
• Reducing Income inequalities
• Development of Backward Region
• Ensuring price stability

5. Types of Indirect Taxes

6. Indirect Tax before 2017

7. Indirect Tax After 2017

8. What is GST
• Indirect Tax
• Tax on Goods or Tax on Services or Tax on
both Goods and Services.
• Destination based Consumption Tax
• Tax on Value Addition
• Tax levied by both central and state
Government concurrently and simultaneously.

9. Why we are switching over to GST

10. Worldwide GST
• France was the first country to introduce GST
in 1954.

11. What is GST Council
• GST Council is the governing body of GST
having 33 members.
• It is chaired by Union Finance Minister.
• GST council is an apex member committee to
modify, reconcile the GST tax system in India.

12. The term SUPPLY in GST
• All the taxable events are subsume under one
single taxable event that is called SUPPLY
• Most of the taxable events are put under one
basket that is SUPPLY
• It may include Manufacture of Goods
• It may include Delivery of Goods
• It may include Service

13. Components of GST

14. Dual GST System in India

15. Slab Rate

16. No GST

17. What is Cascading effect?

18. TAX on TAX

19. Existing system Vs GST

20. Input Tax Credit

21. Example of ITC

22. What are the advantages of GST

23. Impact of GST
• positive impact includes
• Pool the resources of the states together and increasing
availability of resources.
• Initiatives like make in India will take a boost with such
agglomeration of resources.
• Better tax governance will likely to increase revenue collection
by state. In long term is would also reduce black money.

24. Reduce Black Money

25. • GST is expected to build a more transparent
and corruption-free tax system in India.
• It is easy to start a business in the post-GST
regime and tax regulations are easier than
before.
• Composition mechanism is there to reduce
the tax burden from small businesses and
startups.

26. • Input credit (ITC) mechanism ensures an
uninterrupted flow of cash for businesses and
reduced price of goods/services for the end
consumers.
• The merging of all the indirect taxes makes it
easier to process the tax payment for the
government as well as for the taxpayers.
• Tax harmonization
• More simplified movement of goods and/or
services between states and within the country.

27. Is GST a BOON
• The implementation of GST paved the way for
getting more revenue for centre and state
governments, because of better tax
governance.
• In the financial year of 2017-18 tax revenue
under GST was Rs. 7.41 lakh crores.
• Next year it increased considerably. In the
financial year of 2018-19 the tax revenue
under GST rose to Rs. 11.77 lakh crores.

28. • The amount released to state and union
territories also increasd substantially because
of GST.
• In the financial year of 2017-18 amount
released to state and union territories was Rs.
48,178 crores.
• Where as in the financial year it increased to
Rs. 81,177 crore.

29. So as a conclusion, we can
definitely say the Goods and
Service Tax briefly called
GST is a boon to our Indian
economy.