The document provides a comprehensive overview of the Goods and Services Tax (GST) in India, outlining its definitions, frameworks, and various components such as the GST council, tax rates, and codes (HSN and SAC) for goods and services. It highlights the implications of GST for businesses, including aspects of registration, input tax credit, and assessment. The document emphasizes the need for accurate classification of goods and services under the new tax regime to ensure compliance and facilitate seamless credit.

1. FCA, B.COM, MBA, LLB

2. Introduction to GST :-
G- Game Changer Tax
S- Seamless Credit
T- Transparent System;
OR
GST- GREAT & SIMPLE TAX
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3.  Introduction, GST Council, CGST & SGST or IGST
 Why GST & Taxes Subsumed Under GST
 HSN Code & Rates of Taxes
 Key Concepts Under GST & Definition Of Taxable Person
 Meaning of Supply U/s 3 instead of Sale
 Definition Of Goods & Services
 Place of Supply U/s 12- to Check Inter/Intra State
 Time of Supply - to decide when GST Taxes becomes payable
 Registration and Composition Scheme
 Returns Under GST and their Dates
 Input Tax Credit & Job Work Treatment
 Impacts On Businesses
 Assessment, Audit and Prosecution & Arrest
 E-Way Bill and Transporting Under GST
Sequence to Study GST For Understanding

5. CONCEPT CHANGES Under GST
 Concept of “HSN” Code for Goods :
HSN Code is “Harmonised System of Nomenclature”. This
was devised by the World Trade Organisation(WTO) and is an 8 digit
code. All the goods have been divided into 20 broad sections of
similar nature and usage and the first 6 digits fixed for these
categories of goods by WTO and the last 2 digits left for each country
to assign some digits locally, if so required.
 GST will use HSN code in its Invoices to bundle similar type
of goods for credit set-off. Taxable persons whose Turnover is
below Rs.1.5 Crore in the last year may not mention the
HSN code for their goods; between Rs.1.5 to Rs. 5 Crores
may just mention 2 digits and above turnover of Rs. 5
Crores will have to mention first 4 digits of HSN code.
 Concept of “SAC” Code for Services-
It means “Services Accounting Code” for services where like
goods services of similar kind are bundled in one code.
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6. Sections in the Harmonised System
Section1. (Chapter 1 to 5) covers live animals and animals product
Section2. (Chapter 6 to 14) covers vegetable products
Section3. (Chapter 15)(Single Chapter)covers animal or vegetable
fats and oils
Section4. (Chapter 16 to 24) covers beverages spirits vinegar and
Tobacco
Section5. (Chapter 25 to 27) covers mineral products
Section6. (Chapter 28 to 38) covers Chemical and Para Chemical
Products
Section7. (Chapter 39 to 40) covers Plastics and Articles thereof
and Rubber and articles thereof
Section8. (Chapter 41 to 43) covers animal products-Hides and Skin
Section9. (Chapter 44 to 46) covers group of vegetable products -
Chapter 44 (Wood)
Section10. (Chapter 47 to 49) covers vegetable products-Pulp-Paper &
Paperboard-Products of Printing Industry .
SECTIONS IN “HSN” CODE SYSTEMS

7. SECTIONS IN “HSN” CODE SYSTEMS
Section11. (Chapter 50 to 63) covers vegetable Textile and Textile Articles.
Section12. (Chapter 64 to 67) covers Miscellaneous Products-Prepared
Feathers-Artificial Flowers-Articles of Human Hair.
Section13. (Chapter 68 to 70) covers Articles made of minerals-Stone
plaster etc. - Ceramic-Glass products.
Section14. (Chapter 71) covers Precious metals and stones.
Section15. (Chapter 72 to 83) covers Base Metals and Articles of Base
Metal.
Section16. (Chapter 84 to 85) covers Machinery and Mechanical
Appliances
Section17. (Chapter 86 to 89) covers Vehicles, Aircraft, Vessels and
associated transport equipment
Sectiom18. (Chapter 90 to 92) covers Apparatus and Equipment
Section19. (Chapter 93) covers vegetable Arms and Ammunitions
Section20. (Chapter 94 to 96) covers Miscellaneous Manufactured Articles
Section21. (Chapter 97 to 98) covers Arts, Collector’s pieces and Antiques

8. GST Rates Tax
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9. Rates of Tax
Existing Rate (VAT/Excise
Service Tax)
Closet Rate in the GST rate
structure
Remarks and indicative
examples in today’s tax
structure
Items which are exempted
under Excise duty as well a VAT
0% There are close to 100 such
items today
Goods that are exempt in Excise and
taxed under VAT at – 6%
5% There are close to 200 such items
today including some food products
Good taxed at lower rate of -6 by
both the entre and the State
12% Daily use items of mass population
like candles, lanterns, sewing
machines etc
Goods taxed by one Government at
lower and at standard rate by other
18% Base metals, industrial raw meterial
and component
Items taxed at standard rate by both
State at – 13 and the Centre at
12.5%
28% Consumer goods
Luxury cars/ tobacco products/
aerated water
28%+ Cess It is not know if the cess would
creditable or not
Services at 15% 18% Since current rate is 15% closest rate
could be 18%
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11. IMPORTANT GST RATES FOR SERVICES
0% RATE 5% RATE 12% RATE 18% RATE 28% RATE
 Education
Services;
 Health
Services;
 Electricity
Distribution
&
Transmison;
 Services by
Govt & Local
Authority;
 Transport
of material
by Rail;
 Air Travel by
Economy
Class;
 Renting of
Motor Cab;
 Sale of
Advertismt
in Print
Media;
 Transport
of Goods
in
Containers
not by
Railways;
 Const. of
Complexe
s for sale
to Buyers;
 All Other
Services not
Specified
Elsewhere;
 Composite
Supply of
Works
Contracts;
 Telecom &
Financial Srvs;
 Outdoor
Catering &
Restaurants
 Entry to
Entertainmnt
Events &
Amusement;
 Gambling;
 Restaurants
in 5 Star &
Above
Hotels;

12. SOME IMPORTANT GST RATES FOR GOODS
0% Rate Items Some Examples :-
For Food Items & Mass Use Items:
Unpacked Wheat, Rice, Other
Cereals(Except Branded), Bread, Egg,
Cheese, Meat, Fresh Fruits, Milk,
Vegetables, Books, Condoms, Salt, Bindi,
Handloom items, Pottery, Blood,Edu. &
Health Services, etc..
5% Rate Items Some Examples:-
Branded Food & Essential Items –
Branded--Wheat, Rice, Grains,
Pulses; Edible Oils, Milk, Spices,
Packaged Paneer, Crutches, Wheel
Chair, Hand pump & its Parts, Solar
Water Heater, Tyres, Insulin, PDS
Kerosene, Coal, LPG, Fabric,
Footwear(<500) etc….
12% Rate Items Some Examples:-
Bhujia, Butter Oil, Ghee, Dry Fruits,
Packaged Fruit & Vegetable Juices,
Instant Food like Maggi, Idli Mix, Jam,
Ketchup, Processed & Frozen Meat-
Fish, Candles, Steel, Jelly, Cooper&
Aluminium Utensils, Mobiles
Toothpowder, Sporting goods, LED
Lights, Comb, Pencils,, etc..
18% Rate Items Some Examples:-
Hair Oil, Corn Flakes, Pastry, Cakes,
Ice-creams, Chocolates, Sharbats,
Mattresses, Soaps, Cameras, LPG
Stoves, Electric Motors &
Generators, Smart Phones,
School Bags, Items of Porcelain-
Ceramic, etc….

13. SOME IMPORTANT GST RATES FOR GOODS
28%(+Cess) Rate-Luxury & Demerit Items Some
Exmpls:-
 Beauty Products & Soaps etc like Perfumes, Shampoos,
Beauty & Make-up Products, Hair Dye / Creams, Sunscreen
Lotions, Shaving C reams, Razors and After Shaves, etc…..
 White Goods like – Fridge, Televisions, Washing Machines,
Vacuum Cleaners, Dish Washers, Electric Heaters, etc….
 Office Use Machine & Items like Printer, Photocopiers, fax
machines, etc…..
 High End Items like- Luxury Cars, Bus-Truck Tyres,
Leather Products, Marble, Granite, Tiles & Ceramic Products,
Light Fittings, Aluminium Doors & Window Fittings,
 Demerit Items like – Tobacco, Soft Drinks, Chocolates,
Instant Coffee, etc...
NOTE :- 81% of the Items fall below/In < 18% GST Slab Rates.

14.  This Presentation is only for the Purposes of General
Information and Cannot be taken as an Expert Opinion on
any matters discussed Here-in.
 No Person or Business Entity shall be held responsible for
any losses occurring due to any interpretation done from
this presentation.
 If any certified Opinion or Interpretation is required then
personal interaction should be done after settling the fees
with the expert presenting this information.
 The Presentation is being done based only on the
information presently available in the public domain and
some information is still awaited from GST authorities.
DISCLAIMER ON GST INFO
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15. Thanks For A Patient
CA. Sanjiv Nanda
Smarthead Consultants pvt. LtD.
NDR & Co. , Chartered Accountants
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Personal Id :- ca.sanjiv.nanda@gmail.com
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