A powerpoint presentation on goods and services tax ,its needs , pros and cons and much more in a breif presentation.

1. GOODS AND SERVICES
TAX (GST) IN INDIA
A presentation by
Amit S. Mahar
B.com(hons.)
Vth Semester
INVERTIS UNIVERSITY
,BAREILLY ,UTTAR
PRADESH

2. WHAT IS GST ?
The Goods and Service Tax (GST) will be
a comprehensive nationwide indirect tax
on manufacture, sale and consumption of
goods and services throughout India. The
aim is to have one indirect tax for the
whole nation, which will make India a
unified common market. GST will be levied
and collected at each stage of sale or
purchase of goods or services based on
the input tax credit method and would
make not just manufacturing but also the
inter-state transportation of goods more
efficient.

3. The Goods and Services Tax
(GST), the biggest reform in
India’s indirect tax structure since
the economy began to be opened
up 25 years ago, at last looks set
to become reality. the government
estimates that GST will radically
transform the $2-trillion economy
and help boost GDP by up to 2
percentage points.
Govt. on GST

4. NEED OF GST
 Introduction of a GST to replace the existing multiple tax
structures of Centre and State taxes is not only desirable
but imperative in the emerging economic environment.
 Integration of various taxes into a GST system would
make it possible to give full credit for inputs taxes
collected.
 To minimize the tax evasion which would result into
increased govt. revenue
“Because changes are necessary for
the Growth ”

5. TAXES THAT WILL DIE

6. KEY FEATURES
 It would be a dual GST with the Centre and the States simultaneously
levying it on a common base.
 It would replace the following taxes currently levied and collected by
the Centre:
(a) Central Excise Duty
(b) The Excise Duty levied under the Medicinal and
Toiletries Preparation Act.
(c) Additional Duties of Excise (Goods of Special Importance)
(d) Additional Duties of Excise (Textiles and Textile Products)
(e) Additional Duties of Customs (commonly known as CVD)
(f) Service Tax
(g) Cesses and Surcharges.

7. CONTINUED..
 Credit of Central GST paid on inputs may be used only for
paying CGST on the output and the credit of State GST on
inputs only for paying State GST.
 GST would apply to all goods other than crude petroleum,
motor spirit, diesel, aviation turbine fuel and natural gas.
 Tobacco and tobacco products would be subject to GST. In
addition, the Centre could continue to levy Central Excise duty
and the State to sales tax.
 An integrated GST(IGST) would be levied on inter-State supply
of goods and services.

8. HOW IT WILL WORK
 GST is a single tax on the supply of goods and
services, right from the manufacturer to the
consumer.
 Credits of input taxes paid at each stage will be
available in the subsequent stage of value addition,
which makes GST essentially a tax only on value
addition at each stage.
 The final consumer will thus bear only the GST
charged by the last dealer in the supply chain, with
set-off benefits at all the previous stages.

9. HOW IT WILL WORK
100+30 150 160

10. ADVANTAGES OF GST
 GST is a transparent Tax
 GST can also help to diversification of income sources for
Government.
 Under Goods and Services Tax, the tax burden will be divided
equally between Manufacturing and services.
 multiple taxes like octroi, central sales tax, state sales tax,
entry tax, license fees, turnover tax etc will no longer be
present
 Under Goods and Services Tax, the tax burden will be divided
equally between Manufacturing and services.

11. DRAWBACKS OF GST
 Critics say that GST would impact negatively on the
real estate market. It would add up to 8 percent to
the cost of new homes and reduce demand by
about 12 percent.
 Some Economist says that CGST, SGST and IGST
are nothing but new names for Central
Excise/Service Tax, VAT and CST and hence
GST brings nothing new for which we should cheer.

12. WHO GAINS WHAT

13. LATEST UPDATES

14. GIST