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1
GOODS AND SERVICES TAX (GST)
Simplified By
CSC E-Governance Services India Limited
GST Service Provider (GSP)
2
Existing Indirect Tax Structure
2
Central
Levies
Customs
Duty
Service Tax
Excise Duty
Cess
Central Sales
Tax
Purchase Tax
Entertainment Tax
Entry Tax & Octroi
Luxury Tax
VAT
State
Levies
3
Tax structure under GST
SGST
IGST
• Stands for Central GST
• Tax collected by Central Government
• Applicable on supplies within the state
• Stands for State GST
• Tax collected by State Government
• Applicable on supplies within the state
• Stands for Integrated GST
• Tax collected is shared between Centre and State
• Applicable on interstate and import transactions
UTGST
• Stands for Union Territory GST
• Tax collected by Union Territory
• Applicable on supplies within the Union Territory
CGST
4
Taxes Likely to be subsumed under GST
Excise
Duty
Surcharge
& Cess
ADE
Service
Tax
CGST
Luxury
tax
Purchase
Tax
Surcharge
& Cess
VAT
Entry
Tax
SGST/
UTGST
CST CVD &
SAD
IGST
GST
5
Understanding CGST, SGST, UTGST & IGST
Foreign Territory
State 1
Union territory without legislature
State 2
5
6
Features of Constitution Amendment Act
 Concurrent jurisdiction for levy & collection of GST by the Centre (CGST) and the States
(SGST)
 Centre to levy and collect IGST on supplies in the course of inter-State trade or commerce
including imports
 Compensation for loss of revenue to States for five years
 GST on petroleum crude, high speed diesel, motor spirit (commonly known as petrol),
natural gas & aviation turbine fuel to be levied from a later date on recommendations of
Council
6
7
Taxes Not Likely to be Subsumed under GST
Central Taxes:
• Customs Duty
• Other Customs Duty like anti-dumping
duty, Safeguard duty etc.,
• Export Duty
State Taxes:
• Road & Passenger Tax
• Toll Tax
• Property Tax
• Electricity Duty
• Stamp Duty & Registration Fees
8
Goods Not Covered under GST
5 Petroleum Products
• Petrol
• Diesel
• Petroleum Crude
• Aviation fuel
• Natural Gas
Alcohol for Human Consumption
Power Sector
9
Comparison of Tax scenario under Current & GST regimes
Current Regime
Manufacturing Cost 4,00,000
Excise @ 12%, Infrastructure cess @ 1% 52,000
VAT@12.5% 56,500
Dealer Invoice Value 5,08,500
Dealer Cost (4,00,000+52,000) 4,52,000
Margin 50,000
Sale Price for Dealer 5,02,000
VAT@12.5% 62,750
Price @ which the car is sold to the
customer
5,64,750
CGST@9%
SGST@9%
CGST@9%
SGST@9%
4,00,000
36,000
36,000
4,72,000
4,00,000
50,000
4,50,000
40,500
40,500
GST Regime
5,31,000
Saving to the customer= Rs. 33,750
10
Highlights of ITC
Availability of ITC on ‘ALL Inward Supplies’
 Across the Supply Chain- Manufacturer till it reaches consumer
 Across the States
Furtherance of Business Concept
“Used or intended to be used in the course or furtherance of
Business”
11
ITC Claim
Possession of Tax Invoice / Debit or Credit Note / Supplementary Invoice
issued by a supplier
The said goods/services have been received
The tax charged has been paid to the government by the supplier
Matching of Invoices and Reversal
Returns have been filed
12
Type of Returns
Regular Dealer
Form Type Frequency Due Date Details to be furnished
Form GSTR-1 Monthly 10th of succeeding month Details of outward supplies of taxable goods and/or services effected
Form GSTR-1A Monthly 20th of succeeding month Details of outward supplies as added, corrected or deleted by recipient
Form GSTR-2 Monthly 15th of succeeding month
Details of inward supplies of taxable goods and/or services claiming input tax credit.
Addition (Claims) or modification in Form GSTR-2A to be submitted in Form GSTR-2.
Form GSTR-2A Monthly 11th of succeeding Month
Auto-populated details of inward supplies made available to the recipient on the
basis of Form GSTR-1 furnished by the supplier
Form GSTR-3 Monthly 20th of succeeding month
Monthly return on the basis of finalisation of details of outward supplies and inward
supplies along with the payment of tax amount
Form GSTR-3A -- --
Notice to a registered taxable person who fails to furnish returns under section 27
and section 31
Form GSTR-9 Annually 31st Dec of next fiscal
Annual Return - Furnish the details of ITC availed and GST paid which includes local,
interstate and import/exports.
13
Ratna Steels Portal Super Cars Ltd Portal
Ratna Steels GSTR-1
Ratna Steels
Outward Supplies Register
Super Cars Ltd
Ratna steels R.J. Automobiles
Books of Super Cars Ltd for July’17
Inward Supplies Register Outward Supplies Register
No Qty Amt GST
Tot. 225 2,25,000 40,500
No Qty Amt GST
Tot. 215 2,36,500 42,570
No Qty Amt GST
Tot. 225 2,25,000 40,500
6 100 1,00,000 18,000
6 100 1,00,000 18,000
7 50 50,000 9,000
7 50 50,000 9,000
8 25 25,000 4,500
8 25 25,000 4,500
10 50 50,000 9,000
10 50 50,000 9,000
1 80 88,000 15,840
4 45 49,500 8,910
2 60 66,000 11,880
3 30 33,000 5,940
AUG
10
Super Cars Ltd GSTR-1
1 80 88,000 15,840
4 45 49,500 8,910
2 60 66,000 11,880
3 30 33,000 5,940
AUG
11
6 100 1,00,000 18,000
6 1,00,000 18,000
AUG
15
Ratna Steels GSTR-1A
6 1,00,000 18,000
In.No Amt GST
6 1,00,000 18,000
AUG
16
AUG
21
6 100 1,00,000 18,000
Payment
Payment
AUG
20
FORM GST MIS-1
FORM GST MIS-1
14
Technology is the key
GST is transaction based technology driven compliance
B to B to G data exchange through GSTN
Triangulation of Business records with GSTN

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GST_PPT_CSC_EGOV_June2017.PPT

  • 1. 1 GOODS AND SERVICES TAX (GST) Simplified By CSC E-Governance Services India Limited GST Service Provider (GSP)
  • 2. 2 Existing Indirect Tax Structure 2 Central Levies Customs Duty Service Tax Excise Duty Cess Central Sales Tax Purchase Tax Entertainment Tax Entry Tax & Octroi Luxury Tax VAT State Levies
  • 3. 3 Tax structure under GST SGST IGST • Stands for Central GST • Tax collected by Central Government • Applicable on supplies within the state • Stands for State GST • Tax collected by State Government • Applicable on supplies within the state • Stands for Integrated GST • Tax collected is shared between Centre and State • Applicable on interstate and import transactions UTGST • Stands for Union Territory GST • Tax collected by Union Territory • Applicable on supplies within the Union Territory CGST
  • 4. 4 Taxes Likely to be subsumed under GST Excise Duty Surcharge & Cess ADE Service Tax CGST Luxury tax Purchase Tax Surcharge & Cess VAT Entry Tax SGST/ UTGST CST CVD & SAD IGST GST
  • 5. 5 Understanding CGST, SGST, UTGST & IGST Foreign Territory State 1 Union territory without legislature State 2 5
  • 6. 6 Features of Constitution Amendment Act  Concurrent jurisdiction for levy & collection of GST by the Centre (CGST) and the States (SGST)  Centre to levy and collect IGST on supplies in the course of inter-State trade or commerce including imports  Compensation for loss of revenue to States for five years  GST on petroleum crude, high speed diesel, motor spirit (commonly known as petrol), natural gas & aviation turbine fuel to be levied from a later date on recommendations of Council 6
  • 7. 7 Taxes Not Likely to be Subsumed under GST Central Taxes: • Customs Duty • Other Customs Duty like anti-dumping duty, Safeguard duty etc., • Export Duty State Taxes: • Road & Passenger Tax • Toll Tax • Property Tax • Electricity Duty • Stamp Duty & Registration Fees
  • 8. 8 Goods Not Covered under GST 5 Petroleum Products • Petrol • Diesel • Petroleum Crude • Aviation fuel • Natural Gas Alcohol for Human Consumption Power Sector
  • 9. 9 Comparison of Tax scenario under Current & GST regimes Current Regime Manufacturing Cost 4,00,000 Excise @ 12%, Infrastructure cess @ 1% 52,000 VAT@12.5% 56,500 Dealer Invoice Value 5,08,500 Dealer Cost (4,00,000+52,000) 4,52,000 Margin 50,000 Sale Price for Dealer 5,02,000 VAT@12.5% 62,750 Price @ which the car is sold to the customer 5,64,750 CGST@9% SGST@9% CGST@9% SGST@9% 4,00,000 36,000 36,000 4,72,000 4,00,000 50,000 4,50,000 40,500 40,500 GST Regime 5,31,000 Saving to the customer= Rs. 33,750
  • 10. 10 Highlights of ITC Availability of ITC on ‘ALL Inward Supplies’  Across the Supply Chain- Manufacturer till it reaches consumer  Across the States Furtherance of Business Concept “Used or intended to be used in the course or furtherance of Business”
  • 11. 11 ITC Claim Possession of Tax Invoice / Debit or Credit Note / Supplementary Invoice issued by a supplier The said goods/services have been received The tax charged has been paid to the government by the supplier Matching of Invoices and Reversal Returns have been filed
  • 12. 12 Type of Returns Regular Dealer Form Type Frequency Due Date Details to be furnished Form GSTR-1 Monthly 10th of succeeding month Details of outward supplies of taxable goods and/or services effected Form GSTR-1A Monthly 20th of succeeding month Details of outward supplies as added, corrected or deleted by recipient Form GSTR-2 Monthly 15th of succeeding month Details of inward supplies of taxable goods and/or services claiming input tax credit. Addition (Claims) or modification in Form GSTR-2A to be submitted in Form GSTR-2. Form GSTR-2A Monthly 11th of succeeding Month Auto-populated details of inward supplies made available to the recipient on the basis of Form GSTR-1 furnished by the supplier Form GSTR-3 Monthly 20th of succeeding month Monthly return on the basis of finalisation of details of outward supplies and inward supplies along with the payment of tax amount Form GSTR-3A -- -- Notice to a registered taxable person who fails to furnish returns under section 27 and section 31 Form GSTR-9 Annually 31st Dec of next fiscal Annual Return - Furnish the details of ITC availed and GST paid which includes local, interstate and import/exports.
  • 13. 13 Ratna Steels Portal Super Cars Ltd Portal Ratna Steels GSTR-1 Ratna Steels Outward Supplies Register Super Cars Ltd Ratna steels R.J. Automobiles Books of Super Cars Ltd for July’17 Inward Supplies Register Outward Supplies Register No Qty Amt GST Tot. 225 2,25,000 40,500 No Qty Amt GST Tot. 215 2,36,500 42,570 No Qty Amt GST Tot. 225 2,25,000 40,500 6 100 1,00,000 18,000 6 100 1,00,000 18,000 7 50 50,000 9,000 7 50 50,000 9,000 8 25 25,000 4,500 8 25 25,000 4,500 10 50 50,000 9,000 10 50 50,000 9,000 1 80 88,000 15,840 4 45 49,500 8,910 2 60 66,000 11,880 3 30 33,000 5,940 AUG 10 Super Cars Ltd GSTR-1 1 80 88,000 15,840 4 45 49,500 8,910 2 60 66,000 11,880 3 30 33,000 5,940 AUG 11 6 100 1,00,000 18,000 6 1,00,000 18,000 AUG 15 Ratna Steels GSTR-1A 6 1,00,000 18,000 In.No Amt GST 6 1,00,000 18,000 AUG 16 AUG 21 6 100 1,00,000 18,000 Payment Payment AUG 20 FORM GST MIS-1 FORM GST MIS-1
  • 14. 14 Technology is the key GST is transaction based technology driven compliance B to B to G data exchange through GSTN Triangulation of Business records with GSTN

Editor's Notes

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