This document provides an overview of the Goods and Services Tax (GST) implemented in India. It discusses the history of GST in India, what GST is, the tax structure it replaces, benefits of GST such as a uniform indirect tax system across India and reduced tax evasion, and challenges to implementing GST such as disputes over tax sharing between central and state governments. The key points are that GST is a comprehensive indirect tax on goods and services that collects tax on value added at each stage of supply, replacing multiple existing indirect taxes, with the aim of creating a uniform market in India.

1. GST
(GOODS & SERVICE TAX)
B I G G E S T T A X R E F O R M E C O N O M Y S I N C E
I N D E P E N D E N C E … .
P R E S E N T E D B Y : - U N D E R G U I D E A N C E O F : -
S O M A S E V I J A Y D I L I P P R O F . K O P T E
M A M

2. HISTORY
Feb 2006 introduced concept GST & announce the date of
implementation in 2010.
Jan 2007 1st GST studied by ASSOCHAM realized by Dr.
Shome
Feb 2007 F.M Announce introduction of GST from 1st April
2010 in Budget.
The govt. came with 1st discussion paper on GST in Nov
2009
Introduced 115 constitution ammendment GST in year 2011.
Finally Cabinet has passed GST bill in 2016.

3. WHAT IS GST?
GST is a comprehensive value added ax in goods
& services.
It collected on value added at each stage on sale
or purchase in supply change.
No differentiation in goods & services as GST is
levied at each stage of supply change.
All stages of production & distribution taxes pass
through final consumer.
All sector are pass with very few
exemption/exception.

4. GST IS TAX ON GOODS & SERVICES WITH VALUE
ADDITION IN EACH STAGE AT NATIONAL LEVEL
GST WILL INCLUDE MANY STATE & CENTRAL LEVEL
DIRECT TAX
IT OVERCOME DRAWBACK PRESENT TAX

5. TAX STRUCTURE IN INDIA
DIRECT TAX:-
Income tax, Corporate tax &
Wealth Tax
 INDIRECT TAX:-
Excise Duty, Custom Duty, Service
Duty, Octrai Tax, Vat.

6. SHORT COMING IN CURRENT TAX SYSTEM
Tax Cascading
Complexity
Taxation on Manufacturing Level
Exclusion of service
Corruption

7. MODEL OF GST
GST
State GST
GST to be levied
by the centre
GST to be levied
by the State
Dual GST
GST to be levied
by the centre &
the States
Concurrently

8. TAXES PROPOSED TO BE SUBSUMED IN GST
CENTRAL TAXES:-
 Excise Duty
 Additional Excise Duty
 Excise duty under medicinal & toilet
preparation Act.
 Service Tax
 Surcharge
 CENVAT

9. • STATE TAXES:-
VALUE ADDED TAX(VAT).
ENTERTAINMENT TAX LEVIED BY STATES.
LUXURY TAX.
TAX ON LOTTERY, BETTING & GAMBLING.
ENTRY TAX OTHER THAN FOR LOCAL BODIES (OCTROI).

10. WHY DOES INDIA NEED GST?
GST is being introduced majorly due to 2 reason
1. The current indirect tax structure is full of uncertainties due to multiple rates.
2. Due to multiple rates there are multiple forms
GST Tax complexity in the prevailing tax regime.

11. PRODUCT EXCLUDED FROM GST
Petroleum Product
Alcohol
Tobacco Product

12. BENEFIT OF GST
Transparent Tax system
Uniform Tax system Across India
Reduce Tax Evasion
Export will be more competitive

13. HURDLES IN IMPLEMENTATION
Dispute between centre & Tax over tax
sharing.
Highly sophisticated IT infrastructure
required.
Issue of taxing e-commerce is to be
appropriately addressed & integrated.
Political Imbalance.

14. THANK YOU
HAVE A NICE DAY
AHEAD