In this you will find a detailed introduction about GST and its conceptual aspects.
1. What is GST.
2. benefit of GST.
3. Importance for different class of people.
4. Registration requiremnets.
5. Supply
6. Place of supply.
7. Value of supply.
8. Time of supply.
9. Returns
The latest tax reform in India is the introduction of GST as a single unified indirect tax. In this presentation we have presented the overview of GST and it's implications as to how it will impact the users in different levels.
Spine Software Systems presents GST Tutorial Series.
In this second chapter of the series, we have covered Enrolment Process in detail.
All the taxable persons are supposed to follow this process to get enrolled in GST.
The process involves:
1. Collect Provisional ID and Password from the Tax Authorities
2. Register your Mobile Number and Email ID on the GST portal
3. Create your Username and Password
4. Register your Digital Signature Certificate
5. Enter your details (Business Details, Promoter/ Partner Details, Authorized Signatory, Principal Place of Business, HSN/ SAC Codes, Bank Accounts)
6. Sign and submit your enrollment.
Note: We have prepared this self-guided tutorial as per the Goods and Services Tax (GST) Act of India.
Salient Features of GST,
GST Model,
Payment of Tax,
Benefit of GST,
Subsuming of Existing Taxes,
Tax Levy under GST,
Input Tax Credit (ITC),
Payment of Taxes
gst 2017 ppt,
goods and service tax,
The latest tax reform in India is the introduction of GST as a single unified indirect tax. In this presentation we have presented the overview of GST and it's implications as to how it will impact the users in different levels.
Spine Software Systems presents GST Tutorial Series.
In this second chapter of the series, we have covered Enrolment Process in detail.
All the taxable persons are supposed to follow this process to get enrolled in GST.
The process involves:
1. Collect Provisional ID and Password from the Tax Authorities
2. Register your Mobile Number and Email ID on the GST portal
3. Create your Username and Password
4. Register your Digital Signature Certificate
5. Enter your details (Business Details, Promoter/ Partner Details, Authorized Signatory, Principal Place of Business, HSN/ SAC Codes, Bank Accounts)
6. Sign and submit your enrollment.
Note: We have prepared this self-guided tutorial as per the Goods and Services Tax (GST) Act of India.
Salient Features of GST,
GST Model,
Payment of Tax,
Benefit of GST,
Subsuming of Existing Taxes,
Tax Levy under GST,
Input Tax Credit (ITC),
Payment of Taxes
gst 2017 ppt,
goods and service tax,
Presentation on Model GST Law by CA. Juhin Ajmera CA Juhin Ajmera
With the ratification of the GST Bill by more than half of the State Legislatures, it is now certain that GST is round the corner with even the Prime Misnister Modi endorsing April 1, 2017 as its go live date. Whether it will go live by then or will need couple of months more is a matter of time and depends on the outcome of the GST council meets. However, it is about time what we start educating ourselves about the Biggest Tax Reform of our times.
In this presentation, I have tried to present the basic idea, framework and advantages of GST regime over the present Indirect Tax Structure.
Optitax's presentation on 'has gst stabilised, yes and no' 3 feb 18Nilesh Mahajan
This presentation includes following topics:
1. Major changes in GST from it’s implementation
2. Budgetary changes under Indirect Taxes
3. Grey areas under GST - Clarity required
4. E-way bill implementation
5. GST compliance - Our request
This Power Point presentation is the latest in the series of GST related slides uploaded by me earlier. This Specifically discusses the Concept of CGST, SGST and IGST. Examples and illustrations have been given to help in understanding.
Ms. Suchitra Kumari has assisted me in editing these slides
Opportunity in GST for Accountant & Chartered AccountantNikhil Malaiyya
In This Presentation we Will discuss Journal Entry require under GST. Also discuss Transition Provision Under GST. Existing Tax Structure & Proposed Tax Structure.
In this you will find a detailed introduction about GST and its conceptual aspects.
1. What is GST.
2. benefit of GST.
3. Importance for different class of people.
4. Registration requiremnets.
5. Supply
6. Place of supply.
7. Value of supply.
8. Time of supply.
9. Returns
Presentation on Model GST Law by CA. Juhin Ajmera CA Juhin Ajmera
With the ratification of the GST Bill by more than half of the State Legislatures, it is now certain that GST is round the corner with even the Prime Misnister Modi endorsing April 1, 2017 as its go live date. Whether it will go live by then or will need couple of months more is a matter of time and depends on the outcome of the GST council meets. However, it is about time what we start educating ourselves about the Biggest Tax Reform of our times.
In this presentation, I have tried to present the basic idea, framework and advantages of GST regime over the present Indirect Tax Structure.
Optitax's presentation on 'has gst stabilised, yes and no' 3 feb 18Nilesh Mahajan
This presentation includes following topics:
1. Major changes in GST from it’s implementation
2. Budgetary changes under Indirect Taxes
3. Grey areas under GST - Clarity required
4. E-way bill implementation
5. GST compliance - Our request
This Power Point presentation is the latest in the series of GST related slides uploaded by me earlier. This Specifically discusses the Concept of CGST, SGST and IGST. Examples and illustrations have been given to help in understanding.
Ms. Suchitra Kumari has assisted me in editing these slides
Opportunity in GST for Accountant & Chartered AccountantNikhil Malaiyya
In This Presentation we Will discuss Journal Entry require under GST. Also discuss Transition Provision Under GST. Existing Tax Structure & Proposed Tax Structure.
In this you will find a detailed introduction about GST and its conceptual aspects.
1. What is GST.
2. benefit of GST.
3. Importance for different class of people.
4. Registration requiremnets.
5. Supply
6. Place of supply.
7. Value of supply.
8. Time of supply.
9. Returns
This edition of GST book extensively covers in-depth analyses of Model CGST/SGST and IGST Act, 2016 and the Draft Business Processes released by the Government of India. This edition comprehensively discusses all the key GST provisions along with impact, preparations required for GST and challenges ahead, providing an insight to the readers for assisting in smooth transition to GST.
This ppt gives an overview of the proposed GST bill in India. This ppt has custom animations which look like overlapped content on slideshare-viewer. It is recommended to download it on your system and then open using powerPoint-viewer.
A brief understanding of proposed provisions of Goods & Service Tax, 2016. It includes Dual Structure of GST, Input Credit of GST, Returns or Payments in GST, TDS/TCS in GST.
Basic Concept and Impact Presentation on GST by RAMAKapil Bansal
India is fast moving towards one of the most critical tax reforms i.e. the Goods and Services Tax (GST). In fact, as widely acclaimed GST is not just a reform in tax structure rather it is a paradigm shift in the way business is conducted in India. Attached herewith is a brief thoughtful presentation, prepared by the team RAMA, aimed to assist in understanding the basics of GST and its wide impact on businesses. Will be delighted to have your feedback on the subject (please do share as appropriate).
Basic Overview of Goods & Service Tax. this report covers various taxable events, exemption, Input Tax Credit, Place of supply, tax invoice, other voucher and penalty and offence. This is for common user for their first hand use.
This is about the understanding of the provisions applicable in GST. This Presentation talks about the complete practical understanding. There is a series of presentation available but for now we are providing our first PPT free of cost.
This is a presentation by Dada Robert in a Your Skill Boost masterclass organised by the Excellence Foundation for South Sudan (EFSS) on Saturday, the 25th and Sunday, the 26th of May 2024.
He discussed the concept of quality improvement, emphasizing its applicability to various aspects of life, including personal, project, and program improvements. He defined quality as doing the right thing at the right time in the right way to achieve the best possible results and discussed the concept of the "gap" between what we know and what we do, and how this gap represents the areas we need to improve. He explained the scientific approach to quality improvement, which involves systematic performance analysis, testing and learning, and implementing change ideas. He also highlighted the importance of client focus and a team approach to quality improvement.
How to Create Map Views in the Odoo 17 ERPCeline George
The map views are useful for providing a geographical representation of data. They allow users to visualize and analyze the data in a more intuitive manner.
The Roman Empire A Historical Colossus.pdfkaushalkr1407
The Roman Empire, a vast and enduring power, stands as one of history's most remarkable civilizations, leaving an indelible imprint on the world. It emerged from the Roman Republic, transitioning into an imperial powerhouse under the leadership of Augustus Caesar in 27 BCE. This transformation marked the beginning of an era defined by unprecedented territorial expansion, architectural marvels, and profound cultural influence.
The empire's roots lie in the city of Rome, founded, according to legend, by Romulus in 753 BCE. Over centuries, Rome evolved from a small settlement to a formidable republic, characterized by a complex political system with elected officials and checks on power. However, internal strife, class conflicts, and military ambitions paved the way for the end of the Republic. Julius Caesar’s dictatorship and subsequent assassination in 44 BCE created a power vacuum, leading to a civil war. Octavian, later Augustus, emerged victorious, heralding the Roman Empire’s birth.
Under Augustus, the empire experienced the Pax Romana, a 200-year period of relative peace and stability. Augustus reformed the military, established efficient administrative systems, and initiated grand construction projects. The empire's borders expanded, encompassing territories from Britain to Egypt and from Spain to the Euphrates. Roman legions, renowned for their discipline and engineering prowess, secured and maintained these vast territories, building roads, fortifications, and cities that facilitated control and integration.
The Roman Empire’s society was hierarchical, with a rigid class system. At the top were the patricians, wealthy elites who held significant political power. Below them were the plebeians, free citizens with limited political influence, and the vast numbers of slaves who formed the backbone of the economy. The family unit was central, governed by the paterfamilias, the male head who held absolute authority.
Culturally, the Romans were eclectic, absorbing and adapting elements from the civilizations they encountered, particularly the Greeks. Roman art, literature, and philosophy reflected this synthesis, creating a rich cultural tapestry. Latin, the Roman language, became the lingua franca of the Western world, influencing numerous modern languages.
Roman architecture and engineering achievements were monumental. They perfected the arch, vault, and dome, constructing enduring structures like the Colosseum, Pantheon, and aqueducts. These engineering marvels not only showcased Roman ingenuity but also served practical purposes, from public entertainment to water supply.
Operation “Blue Star” is the only event in the history of Independent India where the state went into war with its own people. Even after about 40 years it is not clear if it was culmination of states anger over people of the region, a political game of power or start of dictatorial chapter in the democratic setup.
The people of Punjab felt alienated from main stream due to denial of their just demands during a long democratic struggle since independence. As it happen all over the word, it led to militant struggle with great loss of lives of military, police and civilian personnel. Killing of Indira Gandhi and massacre of innocent Sikhs in Delhi and other India cities was also associated with this movement.
How to Make a Field invisible in Odoo 17Celine George
It is possible to hide or invisible some fields in odoo. Commonly using “invisible” attribute in the field definition to invisible the fields. This slide will show how to make a field invisible in odoo 17.
The Indian economy is classified into different sectors to simplify the analysis and understanding of economic activities. For Class 10, it's essential to grasp the sectors of the Indian economy, understand their characteristics, and recognize their importance. This guide will provide detailed notes on the Sectors of the Indian Economy Class 10, using specific long-tail keywords to enhance comprehension.
For more information, visit-www.vavaclasses.com
Palestine last event orientationfvgnh .pptxRaedMohamed3
An EFL lesson about the current events in Palestine. It is intended to be for intermediate students who wish to increase their listening skills through a short lesson in power point.
The Art Pastor's Guide to Sabbath | Steve ThomasonSteve Thomason
What is the purpose of the Sabbath Law in the Torah. It is interesting to compare how the context of the law shifts from Exodus to Deuteronomy. Who gets to rest, and why?
2. Introduction of GST
GST = Goods and Service tax
It is an indirect tax on :-
• Goods
• Services
Few products are not in ambit of GST. These are Alcoholic beverage, petroleum
products, real estate and electricity.
Misconception/myths:-
• Single tax
• Single tax rate
3. Importance to:-
Students
Chartered Accountants/ lawyers
Industry
Fresher
Others (Knowledge about economy)
Benefits:-
Various indirect taxes subsumed (Except Basic Custom duty)
GST council said that cess will also subsumed.
Transparency
Same rate of tax in whole country
Possibility of reduction in tax evasion
GDP increase by 1-2 %
Reduce Cascading effect
4. Coverage of the law
The law covers entire India, including Jammu and Kashmir. In the present regime,
service tax was not extended to Jammu and Kashmir.
GST is tax on goods and service with value addition at each stage.
It is destination based consumption tax. SGST will go to consumption state. There will be
loss to producing state. So, central govt. will compensate to state govt. for first few years.
Three type of Taxes
SGST
CGST
IGST
Intra-state supply SGST + CGST
Interstate supply IGST = (SGST + CGST)
Import Basic Custom duty + IGST
There will be three rates of tax
Merit rate - Essential Commodity 10-12 %
Standard rate - Major coverage 17-18 %
Demerit rate - Applicable on Sin goods (Luxury) 40%
6. Registration
Any person having aggregate turnover of Rs 9 lakh (Rs 4 lakh for person carrying out
business in the north-east states including Sikkim) across all locations in India will need
to obtain registration in the States from where they make a supply.
In addition, the following persons would be required to obtain GST registration
irrespective of turnover:
person making inter-state supply
casual taxable persons
person required to pay tax under reverse charge
persons making supply on behalf of other registered taxable persons, whether as agent or
otherwise
input service distributors
persons making supply (except of branded services) through an e-commerce operator
e-commerce operator
aggregator supplying services under his brand name
non-resident taxable persons
Every supplier shall take registration in each state from where he makes taxable supply of
goods and/or services.
7. Supply
Supply is taxable event under GST. It includes:-
i) Sale, transfer, barter, exchange, license, rental, lease or disposal made or agreed to be
made for consideration in the course of business or furtherance of business.
ii) Import of service (No other conditions to be met)
iii) Schedule I, Schedule II.
iv) Supply of any branded service by an aggregator under a brand name or trade name
owned by him.
v) Transactions between principal and agents are deemed to be supplies
Exclude:- Supply of goods to a job worker would not be treated as supply
8. Time of Supply
Time of supply = When liability to pay CGST/SGST arise
Time of supply of goods is the earliest of:
• date of removal/ making available goods by the supplier
• date of issue of invoice
• date of receipt of payment by the supplier
• date on which the recipient shows the receipt of goods in his books of accounts.
Time of supply of services is the earliest of:
• date of issue of invoice or date of receipt of payment, if invoice is issued within prescribed period
• date of completion of service or date of receipt of payment, if invoice not issued within the
prescribed period
• date on which recipient shows the receipt of services in his books of accounts, where above
provision does not apply
Time of supply under reverse charge is the earliest of:
• date of receipt of supply;
• date of payment;
• date of receipt of invoice; or
• date of debit in the books of accounts.
In addition to the above, there are provisions to determine the date of supply in case of continuous
supply of goods/ services and when there is change in effective rate of tax.
9. Value of Taxable supply
Normally:- Transaction value (Price actually paid or payable for said supply of
goods/services) where supplier and recipient are not related and price is sole
consideration.
Transaction value include:-
i) Amount that supplier is liable to pay but incurred by recipient.
ii) Value of goods/services supplied directly or indirectly by recipient free of charge
or at reduced price.
iii) Royalty and licence fees that recipient of supply must have to pay.
iv) Any taxes, duty, fee, charges levied under any statue except CGST/SGST/IGST
v) Incidental expenses. (e.g. Commission, packing, any other charges )
vi) Subsidies provided in any form or manner, linked to the supply
vii)Reimbursable expenditure
viii)discount or incentive that may be allowed after the supply has been effected
10. Place of Supply
The place of supply of goods is the place where the goods are delivered, except in
few cases.
The place of supply of services to a registered person, is the location of such
registered person. For services provided to an unregistered person, it is the address
of recipient, and if it is not available, the location of the supplier of services. There
are various exceptions provided to these principles, such as services pertaining to
immovable property, training and appraisal, admission to the events and
organisation of events, transportation, telecom, financial services etc.
11. Input Tax Credit
Input tax credit shall be credited to input credit ledger.
The GST law provides for credit of GST paid on all the inputs, capital goods and
services, barring some exceptions. The exceptions include the services received
and used by employees and also vehicles (except when they are used for
specified purposes), supplies received for execution of works contract for
construction of immovable property (except plant & machinery) etc. Supplies
used for personal consumption are also ineligible for credit.
100% credit on Capital goods.
Procedural requirement for claiming credit:-
Possession of tax invoice
Goods/service has been received
Tax charged is actually paid to the credit of appropriate government
Furnished the return
Contd. Input Tax Credit…
12. The time limit for claim of credit is one year from the date of the invoice. However, no
credit pertaining to a financial year is allowed to be claimed post filing of the return for
September of the next financial year, or the filing of the annual return for the year to
which the credit pertains, whichever is earlier.
The concept of input service distributor is continued in the GST as well. However, credits
of GST paid on inputs or capital goods cannot be distributed.
Input tax credit can be utilised as follows
Credit of SGST can be used for payment of SGST and IGST
Credit of CGST can be used for payment of CGST and IGST
Credit of IGST can be used for payment of IGST, CGST and SGST
…Contd. Input Tax Credit
13. Returns
Assesse Period Time limit
Registered taxable person
(except mentioned below)
Monthly 20 days from end of month
Composition scheme Quarterly 18 days from end of quarter
Required to deduct TDS Monthly 10 days from end of month
Input service distributor Monthly 13 days from end of month
Every taxable person (except few category) shall file annual return on or before 31st
December following the end of financial year.
The taxpayers having turnover exceeding the prescribed limit will also be required to get
their accounts audited by a Chartered Accountant or a Cost Accountant, and submit a
copy of the audited annual accounts with the annual return. In addition, they would also
be required to submit a reconciliation statement, reconciling the value of supplies
declared in the return