SlideShare a Scribd company logo
By: Suryansh Dhawan
Cleared CFA Level I (June, 2017)
Sem III, MBA-FA 2016-18
1International College of Financial Planning
From ‘What & How’ to ‘What Now & What Next’
MBA in Financial Analysis
Part 2 of 5
GST v/s Old Tax Structure Report Coverage
Journey So Far
Brief Introduction
Impact On Indian Economy
2International College of Financial Planning
01
02
04
04
Impact on Different Industries
05
03
MBA in Financial Analysis
GST v/s Old Tax Structure Report Coverage
Journey So Far
Brief Introduction
Impact On Indian Economy
7International College of Financial Planning
01
02
04
04
Impact on Different Industries
05
03
MBA in Financial Analysis
International College of Financial Planning 8
2000
•In 2000, the Vajpayee Govt. started discussion on GST by setting up an empowered committee
headed by Asim Dasgupta ( Finance Minister, Govt. of West Bengal).
2002-04
•The Kelkar Task Force on the implementation of Fiscal Responsibility and Budget
Management(FRBM) Act,2003 and suggested an introduction of comprehensive tax i.e. GST .
2006
•A proposal to introduce a national level GST by April1,2010 was first mooted in the Budget
Speech for the financial year 2006-07 .
2007
•May 2007- Empowered Committee of State Ministers, on this request , started working on GST
roadmap and Nov. 2007- The Joint Working Group, submitted its report to the Committee .
2008
• April,2008- Committee finalized the view over GST and submitted report titled " A
Model and Roadmap for Goods and Service Tax in India".
2009
• Nov.2009- First Discussion Paper on GST Released By Empowered Committee.
MBA in Financial Analysis
Journey So Far (1/3)
2014
•The parliamentary elections were held in 2014 and with the dissolution of the 15th Lok Sabha, the GST
Bill - approved by the standing committee for reintroduction - lapsed.
2015
•In February 2015, Jaitley set another deadline of April 1, 2016 to implement GST. In May 2015, the Lok
Sabha passed the Constitution Amendment Bill paving way for GST.
2016
• After the Ruling and Opposition parties held back GST over several issues including those of having a capping
taxation rate and according constitutional status to the GST. Finally in August 2016, the two sides agree to pass
the Amendment Bill.
International College of Financial Planning 9
2010
• Feb 2010-Mentioned in the speech of the then Finance Minister Pranab Mukharjee-GST
to be introduced in April 2011.
2011
• March 2011- The Constitution 115th amendment bill introduced in Lok Sabha for levy of
GST on all goods or services except for the specified goods.
2013
• Aug 2013- Standing Committee submitted its report on GST and Nov 2013- EC rejected
Govt's proposal to include petroleum products.
MBA in Financial Analysis
Journey So Far (2/3)
International College of Financial Planning 610MBA in Financial Analysis
•On 1st July, 2017, GST was launched by Honorable Prime Minister Shri Narendra Modi and
Honorable President Pranab Mukharjee at a special session at 12 midnight.2017
Journey So Far (3/3)
GST v/s Old Tax Structure Report Coverage
Journey So Far
Brief Introduction
Impact On Indian Economy
11International College of Financial Planning
01
02
04
04
Impact on Different Industries
05
03
MBA in Financial Analysis
shared in subsequent parts

More Related Content

Similar to Goods & Service Tax_Journey So Far (Part 2 of 5)

Govt budget 2015
Govt budget 2015 Govt budget 2015
Journey of the implementation of gst in india
Journey of the implementation of gst in indiaJourney of the implementation of gst in india
Journey of the implementation of gst in india
Abhi Roy
 
India Tax Insights (October-December 2014)
India Tax Insights (October-December 2014)India Tax Insights (October-December 2014)
India Tax Insights (October-December 2014)
elithomas202
 
Research report on gst
Research report on gstResearch report on gst
Research report on gst
tara kumari
 
Research report on gst
Research report on gstResearch report on gst
Research report on gst
manish kumar
 
#GST Made Easy for Freshers# By SN Panigrahi
#GST Made Easy for Freshers# By SN Panigrahi#GST Made Easy for Freshers# By SN Panigrahi
#GST Made Easy for Freshers# By SN Panigrahi
SN Panigrahi, PMP
 
0101170091 cc 6.1 ch
0101170091 cc 6.1 ch0101170091 cc 6.1 ch
0101170091 cc 6.1 ch
ShreyOjha
 
PUBLIC FINANCE.pptx
PUBLIC FINANCE.pptxPUBLIC FINANCE.pptx
PUBLIC FINANCE.pptx
VINNYMARIApubad
 
GST AND ITS IMPACT ON GDP.pptx
GST AND ITS IMPACT ON GDP.pptxGST AND ITS IMPACT ON GDP.pptx
GST AND ITS IMPACT ON GDP.pptx
yashjain990094
 
Preparation and Presentation of budget.pptx
Preparation and Presentation of budget.pptxPreparation and Presentation of budget.pptx
Preparation and Presentation of budget.pptx
letbestrong
 
Manish tripathi-gst-27 august2016
Manish tripathi-gst-27 august2016Manish tripathi-gst-27 august2016
Manish tripathi-gst-27 august2016
A P
 
CSE Prelims 2012 GS Indian Economics Lecture 10
CSE Prelims 2012 GS Indian Economics Lecture 10CSE Prelims 2012 GS Indian Economics Lecture 10
CSE Prelims 2012 GS Indian Economics Lecture 10
Dr. Subir Maitra
 
Presentation 4.pptx
Presentation 4.pptxPresentation 4.pptx
Presentation 4.pptx
Bhim41
 
UNION BUDGET 2013-14
UNION BUDGET 2013-14UNION BUDGET 2013-14
UNION BUDGET 2013-14
AaTrA Ali
 
gst ppt.pptx
gst ppt.pptxgst ppt.pptx
gst ppt.pptx
vidyasagarsharma0001
 
Union budget of india ppt by Rajneesh Chaturvedi
Union budget of india ppt by Rajneesh ChaturvediUnion budget of india ppt by Rajneesh Chaturvedi
Union budget of india ppt by Rajneesh Chaturvedi
Rajneesh Chaturvedi
 
MPA 609-Seminar Question # 3 ; Robius Bagoka
MPA 609-Seminar Question # 3 ; Robius BagokaMPA 609-Seminar Question # 3 ; Robius Bagoka
MPA 609-Seminar Question # 3 ; Robius Bagoka
Robius Bagoka
 
GST - An Overview
GST  -  An Overview GST  -  An Overview
GST - An Overview
Chella Pandian
 
Final report
Final reportFinal report
Final report
NIKHIL KAUL
 
PLANNING IN INDIA.pptx
PLANNING IN INDIA.pptxPLANNING IN INDIA.pptx
PLANNING IN INDIA.pptx
DrShivaManoj
 

Similar to Goods & Service Tax_Journey So Far (Part 2 of 5) (20)

Govt budget 2015
Govt budget 2015 Govt budget 2015
Govt budget 2015
 
Journey of the implementation of gst in india
Journey of the implementation of gst in indiaJourney of the implementation of gst in india
Journey of the implementation of gst in india
 
India Tax Insights (October-December 2014)
India Tax Insights (October-December 2014)India Tax Insights (October-December 2014)
India Tax Insights (October-December 2014)
 
Research report on gst
Research report on gstResearch report on gst
Research report on gst
 
Research report on gst
Research report on gstResearch report on gst
Research report on gst
 
#GST Made Easy for Freshers# By SN Panigrahi
#GST Made Easy for Freshers# By SN Panigrahi#GST Made Easy for Freshers# By SN Panigrahi
#GST Made Easy for Freshers# By SN Panigrahi
 
0101170091 cc 6.1 ch
0101170091 cc 6.1 ch0101170091 cc 6.1 ch
0101170091 cc 6.1 ch
 
PUBLIC FINANCE.pptx
PUBLIC FINANCE.pptxPUBLIC FINANCE.pptx
PUBLIC FINANCE.pptx
 
GST AND ITS IMPACT ON GDP.pptx
GST AND ITS IMPACT ON GDP.pptxGST AND ITS IMPACT ON GDP.pptx
GST AND ITS IMPACT ON GDP.pptx
 
Preparation and Presentation of budget.pptx
Preparation and Presentation of budget.pptxPreparation and Presentation of budget.pptx
Preparation and Presentation of budget.pptx
 
Manish tripathi-gst-27 august2016
Manish tripathi-gst-27 august2016Manish tripathi-gst-27 august2016
Manish tripathi-gst-27 august2016
 
CSE Prelims 2012 GS Indian Economics Lecture 10
CSE Prelims 2012 GS Indian Economics Lecture 10CSE Prelims 2012 GS Indian Economics Lecture 10
CSE Prelims 2012 GS Indian Economics Lecture 10
 
Presentation 4.pptx
Presentation 4.pptxPresentation 4.pptx
Presentation 4.pptx
 
UNION BUDGET 2013-14
UNION BUDGET 2013-14UNION BUDGET 2013-14
UNION BUDGET 2013-14
 
gst ppt.pptx
gst ppt.pptxgst ppt.pptx
gst ppt.pptx
 
Union budget of india ppt by Rajneesh Chaturvedi
Union budget of india ppt by Rajneesh ChaturvediUnion budget of india ppt by Rajneesh Chaturvedi
Union budget of india ppt by Rajneesh Chaturvedi
 
MPA 609-Seminar Question # 3 ; Robius Bagoka
MPA 609-Seminar Question # 3 ; Robius BagokaMPA 609-Seminar Question # 3 ; Robius Bagoka
MPA 609-Seminar Question # 3 ; Robius Bagoka
 
GST - An Overview
GST  -  An Overview GST  -  An Overview
GST - An Overview
 
Final report
Final reportFinal report
Final report
 
PLANNING IN INDIA.pptx
PLANNING IN INDIA.pptxPLANNING IN INDIA.pptx
PLANNING IN INDIA.pptx
 

More from Suryansh Dhawan

Ola Cab: Its Fleets and Financials
Ola Cab: Its Fleets and FinancialsOla Cab: Its Fleets and Financials
Ola Cab: Its Fleets and Financials
Suryansh Dhawan
 
Goods & Services Tax_Impact on Different Industries Part 5 of 5)
Goods & Services Tax_Impact on Different Industries Part 5 of 5)Goods & Services Tax_Impact on Different Industries Part 5 of 5)
Goods & Services Tax_Impact on Different Industries Part 5 of 5)
Suryansh Dhawan
 
Goods & Services Tax_GST v/s Old Tax Structure (Part 3 of 5)
Goods & Services Tax_GST v/s Old Tax Structure (Part 3 of 5)Goods & Services Tax_GST v/s Old Tax Structure (Part 3 of 5)
Goods & Services Tax_GST v/s Old Tax Structure (Part 3 of 5)
Suryansh Dhawan
 
Design practice
Design practiceDesign practice
Design practice
Suryansh Dhawan
 
Fixed income
Fixed income Fixed income
Fixed income
Suryansh Dhawan
 
Real estate - An Investment Vehicle
Real estate - An Investment VehicleReal estate - An Investment Vehicle
Real estate - An Investment Vehicle
Suryansh Dhawan
 
Blume venture fund
Blume venture fundBlume venture fund
Blume venture fund
Suryansh Dhawan
 

More from Suryansh Dhawan (7)

Ola Cab: Its Fleets and Financials
Ola Cab: Its Fleets and FinancialsOla Cab: Its Fleets and Financials
Ola Cab: Its Fleets and Financials
 
Goods & Services Tax_Impact on Different Industries Part 5 of 5)
Goods & Services Tax_Impact on Different Industries Part 5 of 5)Goods & Services Tax_Impact on Different Industries Part 5 of 5)
Goods & Services Tax_Impact on Different Industries Part 5 of 5)
 
Goods & Services Tax_GST v/s Old Tax Structure (Part 3 of 5)
Goods & Services Tax_GST v/s Old Tax Structure (Part 3 of 5)Goods & Services Tax_GST v/s Old Tax Structure (Part 3 of 5)
Goods & Services Tax_GST v/s Old Tax Structure (Part 3 of 5)
 
Design practice
Design practiceDesign practice
Design practice
 
Fixed income
Fixed income Fixed income
Fixed income
 
Real estate - An Investment Vehicle
Real estate - An Investment VehicleReal estate - An Investment Vehicle
Real estate - An Investment Vehicle
 
Blume venture fund
Blume venture fundBlume venture fund
Blume venture fund
 

Recently uploaded

Tdasx: In-Depth Analysis of Cryptocurrency Giveaway Scams and Security Strate...
Tdasx: In-Depth Analysis of Cryptocurrency Giveaway Scams and Security Strate...Tdasx: In-Depth Analysis of Cryptocurrency Giveaway Scams and Security Strate...
Tdasx: In-Depth Analysis of Cryptocurrency Giveaway Scams and Security Strate...
nimaruinazawa258
 
1:1制作加拿大麦吉尔大学毕业证硕士学历证书原版一模一样
1:1制作加拿大麦吉尔大学毕业证硕士学历证书原版一模一样1:1制作加拿大麦吉尔大学毕业证硕士学历证书原版一模一样
1:1制作加拿大麦吉尔大学毕业证硕士学历证书原版一模一样
qntjwn68
 
一比一原版(IC毕业证)帝国理工大学毕业证如何办理
一比一原版(IC毕业证)帝国理工大学毕业证如何办理一比一原版(IC毕业证)帝国理工大学毕业证如何办理
一比一原版(IC毕业证)帝国理工大学毕业证如何办理
conose1
 
5 Tips for Creating Standard Financial Reports
5 Tips for Creating Standard Financial Reports5 Tips for Creating Standard Financial Reports
5 Tips for Creating Standard Financial Reports
EasyReports
 
Who Is the Largest Producer of Soybean in India Now.pdf
Who Is the Largest Producer of Soybean in India Now.pdfWho Is the Largest Producer of Soybean in India Now.pdf
Who Is the Largest Producer of Soybean in India Now.pdf
Price Vision
 
一比一原版(GWU,GW毕业证)加利福尼亚大学|尔湾分校毕业证如何办理
一比一原版(GWU,GW毕业证)加利福尼亚大学|尔湾分校毕业证如何办理一比一原版(GWU,GW毕业证)加利福尼亚大学|尔湾分校毕业证如何办理
一比一原版(GWU,GW毕业证)加利福尼亚大学|尔湾分校毕业证如何办理
obyzuk
 
Does teamwork really matter? Looking beyond the job posting to understand lab...
Does teamwork really matter? Looking beyond the job posting to understand lab...Does teamwork really matter? Looking beyond the job posting to understand lab...
Does teamwork really matter? Looking beyond the job posting to understand lab...
Labour Market Information Council | Conseil de l’information sur le marché du travail
 
Seminar: Gender Board Diversity through Ownership Networks
Seminar: Gender Board Diversity through Ownership NetworksSeminar: Gender Board Diversity through Ownership Networks
Seminar: Gender Board Diversity through Ownership Networks
GRAPE
 
What's a worker’s market? Job quality and labour market tightness
What's a worker’s market? Job quality and labour market tightnessWhat's a worker’s market? Job quality and labour market tightness
What's a worker’s market? Job quality and labour market tightness
Labour Market Information Council | Conseil de l’information sur le marché du travail
 
Tdasx: Unveiling the Trillion-Dollar Potential of Bitcoin DeFi
Tdasx: Unveiling the Trillion-Dollar Potential of Bitcoin DeFiTdasx: Unveiling the Trillion-Dollar Potential of Bitcoin DeFi
Tdasx: Unveiling the Trillion-Dollar Potential of Bitcoin DeFi
nimaruinazawa258
 
Using Online job postings and survey data to understand labour market trends
Using Online job postings and survey data to understand labour market trendsUsing Online job postings and survey data to understand labour market trends
Using Online job postings and survey data to understand labour market trends
Labour Market Information Council | Conseil de l’information sur le marché du travail
 
Independent Study - College of Wooster Research (2023-2024) FDI, Culture, Glo...
Independent Study - College of Wooster Research (2023-2024) FDI, Culture, Glo...Independent Study - College of Wooster Research (2023-2024) FDI, Culture, Glo...
Independent Study - College of Wooster Research (2023-2024) FDI, Culture, Glo...
AntoniaOwensDetwiler
 
falcon-invoice-discounting-a-strategic-approach-to-optimize-investments
falcon-invoice-discounting-a-strategic-approach-to-optimize-investmentsfalcon-invoice-discounting-a-strategic-approach-to-optimize-investments
falcon-invoice-discounting-a-strategic-approach-to-optimize-investments
Falcon Invoice Discounting
 
Detailed power point presentation on compound interest and how it is calculated
Detailed power point presentation on compound interest  and how it is calculatedDetailed power point presentation on compound interest  and how it is calculated
Detailed power point presentation on compound interest and how it is calculated
KishanChaudhary23
 
Solution Manual For Financial Accounting, 8th Canadian Edition 2024, by Libby...
Solution Manual For Financial Accounting, 8th Canadian Edition 2024, by Libby...Solution Manual For Financial Accounting, 8th Canadian Edition 2024, by Libby...
Solution Manual For Financial Accounting, 8th Canadian Edition 2024, by Libby...
Donc Test
 
1. Elemental Economics - Introduction to mining.pdf
1. Elemental Economics - Introduction to mining.pdf1. Elemental Economics - Introduction to mining.pdf
1. Elemental Economics - Introduction to mining.pdf
Neal Brewster
 
Bridging the gap: Online job postings, survey data and the assessment of job ...
Bridging the gap: Online job postings, survey data and the assessment of job ...Bridging the gap: Online job postings, survey data and the assessment of job ...
Bridging the gap: Online job postings, survey data and the assessment of job ...
Labour Market Information Council | Conseil de l’information sur le marché du travail
 
How Does CRISIL Evaluate Lenders in India for Credit Ratings
How Does CRISIL Evaluate Lenders in India for Credit RatingsHow Does CRISIL Evaluate Lenders in India for Credit Ratings
How Does CRISIL Evaluate Lenders in India for Credit Ratings
Shaheen Kumar
 
一比一原版美国新罕布什尔大学(unh)毕业证学历认证真实可查
一比一原版美国新罕布什尔大学(unh)毕业证学历认证真实可查一比一原版美国新罕布什尔大学(unh)毕业证学历认证真实可查
一比一原版美国新罕布什尔大学(unh)毕业证学历认证真实可查
taqyea
 
快速制作美国迈阿密大学牛津分校毕业证文凭证书英文原版一模一样
快速制作美国迈阿密大学牛津分校毕业证文凭证书英文原版一模一样快速制作美国迈阿密大学牛津分校毕业证文凭证书英文原版一模一样
快速制作美国迈阿密大学牛津分校毕业证文凭证书英文原版一模一样
rlo9fxi
 

Recently uploaded (20)

Tdasx: In-Depth Analysis of Cryptocurrency Giveaway Scams and Security Strate...
Tdasx: In-Depth Analysis of Cryptocurrency Giveaway Scams and Security Strate...Tdasx: In-Depth Analysis of Cryptocurrency Giveaway Scams and Security Strate...
Tdasx: In-Depth Analysis of Cryptocurrency Giveaway Scams and Security Strate...
 
1:1制作加拿大麦吉尔大学毕业证硕士学历证书原版一模一样
1:1制作加拿大麦吉尔大学毕业证硕士学历证书原版一模一样1:1制作加拿大麦吉尔大学毕业证硕士学历证书原版一模一样
1:1制作加拿大麦吉尔大学毕业证硕士学历证书原版一模一样
 
一比一原版(IC毕业证)帝国理工大学毕业证如何办理
一比一原版(IC毕业证)帝国理工大学毕业证如何办理一比一原版(IC毕业证)帝国理工大学毕业证如何办理
一比一原版(IC毕业证)帝国理工大学毕业证如何办理
 
5 Tips for Creating Standard Financial Reports
5 Tips for Creating Standard Financial Reports5 Tips for Creating Standard Financial Reports
5 Tips for Creating Standard Financial Reports
 
Who Is the Largest Producer of Soybean in India Now.pdf
Who Is the Largest Producer of Soybean in India Now.pdfWho Is the Largest Producer of Soybean in India Now.pdf
Who Is the Largest Producer of Soybean in India Now.pdf
 
一比一原版(GWU,GW毕业证)加利福尼亚大学|尔湾分校毕业证如何办理
一比一原版(GWU,GW毕业证)加利福尼亚大学|尔湾分校毕业证如何办理一比一原版(GWU,GW毕业证)加利福尼亚大学|尔湾分校毕业证如何办理
一比一原版(GWU,GW毕业证)加利福尼亚大学|尔湾分校毕业证如何办理
 
Does teamwork really matter? Looking beyond the job posting to understand lab...
Does teamwork really matter? Looking beyond the job posting to understand lab...Does teamwork really matter? Looking beyond the job posting to understand lab...
Does teamwork really matter? Looking beyond the job posting to understand lab...
 
Seminar: Gender Board Diversity through Ownership Networks
Seminar: Gender Board Diversity through Ownership NetworksSeminar: Gender Board Diversity through Ownership Networks
Seminar: Gender Board Diversity through Ownership Networks
 
What's a worker’s market? Job quality and labour market tightness
What's a worker’s market? Job quality and labour market tightnessWhat's a worker’s market? Job quality and labour market tightness
What's a worker’s market? Job quality and labour market tightness
 
Tdasx: Unveiling the Trillion-Dollar Potential of Bitcoin DeFi
Tdasx: Unveiling the Trillion-Dollar Potential of Bitcoin DeFiTdasx: Unveiling the Trillion-Dollar Potential of Bitcoin DeFi
Tdasx: Unveiling the Trillion-Dollar Potential of Bitcoin DeFi
 
Using Online job postings and survey data to understand labour market trends
Using Online job postings and survey data to understand labour market trendsUsing Online job postings and survey data to understand labour market trends
Using Online job postings and survey data to understand labour market trends
 
Independent Study - College of Wooster Research (2023-2024) FDI, Culture, Glo...
Independent Study - College of Wooster Research (2023-2024) FDI, Culture, Glo...Independent Study - College of Wooster Research (2023-2024) FDI, Culture, Glo...
Independent Study - College of Wooster Research (2023-2024) FDI, Culture, Glo...
 
falcon-invoice-discounting-a-strategic-approach-to-optimize-investments
falcon-invoice-discounting-a-strategic-approach-to-optimize-investmentsfalcon-invoice-discounting-a-strategic-approach-to-optimize-investments
falcon-invoice-discounting-a-strategic-approach-to-optimize-investments
 
Detailed power point presentation on compound interest and how it is calculated
Detailed power point presentation on compound interest  and how it is calculatedDetailed power point presentation on compound interest  and how it is calculated
Detailed power point presentation on compound interest and how it is calculated
 
Solution Manual For Financial Accounting, 8th Canadian Edition 2024, by Libby...
Solution Manual For Financial Accounting, 8th Canadian Edition 2024, by Libby...Solution Manual For Financial Accounting, 8th Canadian Edition 2024, by Libby...
Solution Manual For Financial Accounting, 8th Canadian Edition 2024, by Libby...
 
1. Elemental Economics - Introduction to mining.pdf
1. Elemental Economics - Introduction to mining.pdf1. Elemental Economics - Introduction to mining.pdf
1. Elemental Economics - Introduction to mining.pdf
 
Bridging the gap: Online job postings, survey data and the assessment of job ...
Bridging the gap: Online job postings, survey data and the assessment of job ...Bridging the gap: Online job postings, survey data and the assessment of job ...
Bridging the gap: Online job postings, survey data and the assessment of job ...
 
How Does CRISIL Evaluate Lenders in India for Credit Ratings
How Does CRISIL Evaluate Lenders in India for Credit RatingsHow Does CRISIL Evaluate Lenders in India for Credit Ratings
How Does CRISIL Evaluate Lenders in India for Credit Ratings
 
一比一原版美国新罕布什尔大学(unh)毕业证学历认证真实可查
一比一原版美国新罕布什尔大学(unh)毕业证学历认证真实可查一比一原版美国新罕布什尔大学(unh)毕业证学历认证真实可查
一比一原版美国新罕布什尔大学(unh)毕业证学历认证真实可查
 
快速制作美国迈阿密大学牛津分校毕业证文凭证书英文原版一模一样
快速制作美国迈阿密大学牛津分校毕业证文凭证书英文原版一模一样快速制作美国迈阿密大学牛津分校毕业证文凭证书英文原版一模一样
快速制作美国迈阿密大学牛津分校毕业证文凭证书英文原版一模一样
 

Goods & Service Tax_Journey So Far (Part 2 of 5)

  • 1. By: Suryansh Dhawan Cleared CFA Level I (June, 2017) Sem III, MBA-FA 2016-18 1International College of Financial Planning From ‘What & How’ to ‘What Now & What Next’ MBA in Financial Analysis Part 2 of 5
  • 2. GST v/s Old Tax Structure Report Coverage Journey So Far Brief Introduction Impact On Indian Economy 2International College of Financial Planning 01 02 04 04 Impact on Different Industries 05 03 MBA in Financial Analysis
  • 3. GST v/s Old Tax Structure Report Coverage Journey So Far Brief Introduction Impact On Indian Economy 7International College of Financial Planning 01 02 04 04 Impact on Different Industries 05 03 MBA in Financial Analysis
  • 4. International College of Financial Planning 8 2000 •In 2000, the Vajpayee Govt. started discussion on GST by setting up an empowered committee headed by Asim Dasgupta ( Finance Minister, Govt. of West Bengal). 2002-04 •The Kelkar Task Force on the implementation of Fiscal Responsibility and Budget Management(FRBM) Act,2003 and suggested an introduction of comprehensive tax i.e. GST . 2006 •A proposal to introduce a national level GST by April1,2010 was first mooted in the Budget Speech for the financial year 2006-07 . 2007 •May 2007- Empowered Committee of State Ministers, on this request , started working on GST roadmap and Nov. 2007- The Joint Working Group, submitted its report to the Committee . 2008 • April,2008- Committee finalized the view over GST and submitted report titled " A Model and Roadmap for Goods and Service Tax in India". 2009 • Nov.2009- First Discussion Paper on GST Released By Empowered Committee. MBA in Financial Analysis Journey So Far (1/3)
  • 5. 2014 •The parliamentary elections were held in 2014 and with the dissolution of the 15th Lok Sabha, the GST Bill - approved by the standing committee for reintroduction - lapsed. 2015 •In February 2015, Jaitley set another deadline of April 1, 2016 to implement GST. In May 2015, the Lok Sabha passed the Constitution Amendment Bill paving way for GST. 2016 • After the Ruling and Opposition parties held back GST over several issues including those of having a capping taxation rate and according constitutional status to the GST. Finally in August 2016, the two sides agree to pass the Amendment Bill. International College of Financial Planning 9 2010 • Feb 2010-Mentioned in the speech of the then Finance Minister Pranab Mukharjee-GST to be introduced in April 2011. 2011 • March 2011- The Constitution 115th amendment bill introduced in Lok Sabha for levy of GST on all goods or services except for the specified goods. 2013 • Aug 2013- Standing Committee submitted its report on GST and Nov 2013- EC rejected Govt's proposal to include petroleum products. MBA in Financial Analysis Journey So Far (2/3)
  • 6. International College of Financial Planning 610MBA in Financial Analysis •On 1st July, 2017, GST was launched by Honorable Prime Minister Shri Narendra Modi and Honorable President Pranab Mukharjee at a special session at 12 midnight.2017 Journey So Far (3/3)
  • 7. GST v/s Old Tax Structure Report Coverage Journey So Far Brief Introduction Impact On Indian Economy 11International College of Financial Planning 01 02 04 04 Impact on Different Industries 05 03 MBA in Financial Analysis shared in subsequent parts