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Part 3-GST -ECO Systemm & AMP;- HSN CodeHina juyal
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Summarised and Simplified Presentation on GST.Suitable for school/college projects and various vocational courses like CA ITT training programmes.
Summaried presenation covering broad aspects of NEED FOR GST,GST DEFINITION AND SCOPE OF GST IN TERMS OF SUPPLY AND TAXABLE PERSONS.
Source:INTERNETN
Connect with GST Suvidha Center for all GST related services like GST Return Filing and GST Registration. Also open your GST Suvidha Kendra to create new business opportunities. Join us as one stop solutions for all GST services today.
Part 3-GST -ECO Systemm & AMP;- HSN CodeHina juyal
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Summarised and Simplified Presentation on GST.Suitable for school/college projects and various vocational courses like CA ITT training programmes.
Summaried presenation covering broad aspects of NEED FOR GST,GST DEFINITION AND SCOPE OF GST IN TERMS OF SUPPLY AND TAXABLE PERSONS.
Source:INTERNETN
Connect with GST Suvidha Center for all GST related services like GST Return Filing and GST Registration. Also open your GST Suvidha Kendra to create new business opportunities. Join us as one stop solutions for all GST services today.
Handbook ppt on gst goods & service tax _ top gst expertsCA Milin Shah
GST is on the way from 1st July 2017, Be ready for the biggest change in tax world. Would like to get everything about GST in your hand? right now ? right away _just click on the link to get everything on GST in sweet & simple language.
Yeh GST GST kya hai ? Yeh GST GST >>>>> reminds me of the very educative chartbuster ;-), the very famous ILU ILU song :-)
Our Research Team has simplified GST for everyone's consumption. Read on....!!
Yeh GST GST kya hai ? Yeh GST GST >>>>> reminds me of the very educative chartbuster ;-), the very famous ILU ILU song :-)
Our Research Team has simplified GST for everyone's consumption. Read on....!!
Goods and Services Tax (GST) is an indirect tax (or consumption tax) levied in India on the supply of goods and services. GST is levied at every step in the production process, but is meant to be refunded to all parties in the various stages of production other than the final consumer.
Introduction /Concepts of GST
Existing & Proposed Tax Structure in India
Model/Components of GST
Benefits under GST
Applicability & Rate in GST Regime
Impact of GST
GST Set off Chain & its methodology
Functioning of GST
Others Areas of GST
Key Amendments in Bill
Sector Wise Impacts
Flaws of the GST Model
Conclusion.
The PPT about GSTR-1 , How to filling GSTRR-1 Step by Step all Details here by CA Sanjiv Nanda. .
Mostly people is confused how to file GSTR-1 so this PPT help That people .
Handbook ppt on gst goods & service tax _ top gst expertsCA Milin Shah
GST is on the way from 1st July 2017, Be ready for the biggest change in tax world. Would like to get everything about GST in your hand? right now ? right away _just click on the link to get everything on GST in sweet & simple language.
Yeh GST GST kya hai ? Yeh GST GST >>>>> reminds me of the very educative chartbuster ;-), the very famous ILU ILU song :-)
Our Research Team has simplified GST for everyone's consumption. Read on....!!
Yeh GST GST kya hai ? Yeh GST GST >>>>> reminds me of the very educative chartbuster ;-), the very famous ILU ILU song :-)
Our Research Team has simplified GST for everyone's consumption. Read on....!!
Goods and Services Tax (GST) is an indirect tax (or consumption tax) levied in India on the supply of goods and services. GST is levied at every step in the production process, but is meant to be refunded to all parties in the various stages of production other than the final consumer.
Introduction /Concepts of GST
Existing & Proposed Tax Structure in India
Model/Components of GST
Benefits under GST
Applicability & Rate in GST Regime
Impact of GST
GST Set off Chain & its methodology
Functioning of GST
Others Areas of GST
Key Amendments in Bill
Sector Wise Impacts
Flaws of the GST Model
Conclusion.
The PPT about GSTR-1 , How to filling GSTRR-1 Step by Step all Details here by CA Sanjiv Nanda. .
Mostly people is confused how to file GSTR-1 so this PPT help That people .
“Do not wait; the time will never be ‘just right.’ Start where you stand, and work with whatever tools you may have at your command, and better tools will be found as you go along.” —George Herbert
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Part 12-GST- Input Tax Credit & AMP, Job Work & RatingsHina juyal
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In 2020, the Ministry of Home Affairs established a committee led by Prof. (Dr.) Ranbir Singh, former Vice Chancellor of National Law University (NLU), Delhi. This committee was tasked with reviewing the three codes of criminal law. The primary objective of the committee was to propose comprehensive reforms to the country’s criminal laws in a manner that is both principled and effective.
The committee’s focus was on ensuring the safety and security of individuals, communities, and the nation as a whole. Throughout its deliberations, the committee aimed to uphold constitutional values such as justice, dignity, and the intrinsic value of each individual. Their goal was to recommend amendments to the criminal laws that align with these values and priorities.
Subsequently, in February, the committee successfully submitted its recommendations regarding amendments to the criminal law. These recommendations are intended to serve as a foundation for enhancing the current legal framework, promoting safety and security, and upholding the constitutional principles of justice, dignity, and the inherent worth of every individual.
Lifting the Corporate Veil. Power Point Presentationseri bangash
"Lifting the Corporate Veil" is a legal concept that refers to the judicial act of disregarding the separate legal personality of a corporation or limited liability company (LLC). Normally, a corporation is considered a legal entity separate from its shareholders or members, meaning that the personal assets of shareholders or members are protected from the liabilities of the corporation. However, there are certain situations where courts may decide to "pierce" or "lift" the corporate veil, holding shareholders or members personally liable for the debts or actions of the corporation.
Here are some common scenarios in which courts might lift the corporate veil:
Fraud or Illegality: If shareholders or members use the corporate structure to perpetrate fraud, evade legal obligations, or engage in illegal activities, courts may disregard the corporate entity and hold those individuals personally liable.
Undercapitalization: If a corporation is formed with insufficient capital to conduct its intended business and meet its foreseeable liabilities, and this lack of capitalization results in harm to creditors or other parties, courts may lift the corporate veil to hold shareholders or members liable.
Failure to Observe Corporate Formalities: Corporations and LLCs are required to observe certain formalities, such as holding regular meetings, maintaining separate financial records, and avoiding commingling of personal and corporate assets. If these formalities are not observed and the corporate structure is used as a mere façade, courts may disregard the corporate entity.
Alter Ego: If there is such a unity of interest and ownership between the corporation and its shareholders or members that the separate personalities of the corporation and the individuals no longer exist, courts may treat the corporation as the alter ego of its owners and hold them personally liable.
Group Enterprises: In some cases, where multiple corporations are closely related or form part of a single economic unit, courts may pierce the corporate veil to achieve equity, particularly if one corporation's actions harm creditors or other stakeholders and the corporate structure is being used to shield culpable parties from liability.
Synopsis On Annual General Meeting/Extra Ordinary General Meeting With Ordinary And Special Businesses And Ordinary And Special Resolutions with Companies (Postal Ballot) Regulations, 2018
Defending Weapons Offence Charges: Role of Mississauga Criminal Defence LawyersHarpreetSaini48
Discover how Mississauga criminal defence lawyers defend clients facing weapon offence charges with expert legal guidance and courtroom representation.
To know more visit: https://www.saini-law.com/
Car Accident Injury Do I Have a Case....Knowyourright
Every year, thousands of Minnesotans are injured in car accidents. These injuries can be severe – even life-changing. Under Minnesota law, you can pursue compensation through a personal injury lawsuit.
Matthew Professional CV experienced Government LiaisonMattGardner52
As an experienced Government Liaison, I have demonstrated expertise in Corporate Governance. My skill set includes senior-level management in Contract Management, Legal Support, and Diplomatic Relations. I have also gained proficiency as a Corporate Liaison, utilizing my strong background in accounting, finance, and legal, with a Bachelor's degree (B.A.) from California State University. My Administrative Skills further strengthen my ability to contribute to the growth and success of any organization.
2. Introduction to GST :-
G- Game Changer Tax
S- Seamless Credit
T- Transparent System;
OR
GST- GREAT & SIMPLE TAX
CA. Sanjiv Nanda, Smarthead Consultants
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
4.
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.
CA. Sanjiv Nanda, Smarthead Consultants
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
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%
CA. Sanjiv Nanda, Smarthead Consultants
10.
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
CA. Sanjiv Nanda, Smarthead Consultants
15. Contact Us
CA. Sanjiv Nanda
Smarthead Consultants Pvt. Ltd.
NDR & Co., Chartered Accountants.
Mob- 98110-68919.
Office :-
Flat No. 1006A & 1002A,
Tolstoy House, Tolstoy Marg,
NewDelhi-110001
CA Firms Id :- ndrcompany@gmail.com
Personal Id:- sanjivnanda@gmail.com
sanjiv.nanda@smartheadconsulting.com
www.smartheadconsulting.com
THANKS FOR A PATIENT LISTENING