The document provides an overview of the Goods and Services Tax (GST) that is proposed to be implemented in India. It discusses that GST will replace existing indirect taxes and be levied as a single tax on the supply of goods and services. GST is expected to simplify and harmonize the indirect tax regime in India and reduce the cascading burden of taxes. The document also outlines some of the challenges around the implementation of GST in India, such as the complex federal structure requiring coordination between the central and state governments.
This presentation has been prepared for the LL.M. in International taxation at the ELTE University of Budapest and discussed on February 9th 2019 with the students.
Credits are at the end of the file.
Social development club is a leading course content provider of India with a key focus on skilling courseware development. We deliver complete package required to deliver the Skill development program effectively. We develop NCVT and SSC aligned courses of all the domains and for all the schemes.
Contact: sdccourses@gmail.com, http://www.socialdevelopment.club
made by school student for education purpose only it is just to show how gst works and how it had worked in other country,it also show what are the impact of gst in india and other countries.
GST system is a new tax system in India . It is a very cogent form of tax system .Taxpayer need to know about certain basic terms in GST like GST registration, GST Return Filing, GST Software and GST Assessment.
Singapore is known to have one of the lowest taxes globally.
Among the taxes levied by the city-state is the Goods and Services Tax (GST). This type of tax is paid when money is spent on goods and services including imports. A multi-stage tax, the GST is collected at all stages of the production and distribution chain.
This presentation has been prepared for the LL.M. in International taxation at the ELTE University of Budapest and discussed on February 9th 2019 with the students.
Credits are at the end of the file.
Social development club is a leading course content provider of India with a key focus on skilling courseware development. We deliver complete package required to deliver the Skill development program effectively. We develop NCVT and SSC aligned courses of all the domains and for all the schemes.
Contact: sdccourses@gmail.com, http://www.socialdevelopment.club
made by school student for education purpose only it is just to show how gst works and how it had worked in other country,it also show what are the impact of gst in india and other countries.
GST system is a new tax system in India . It is a very cogent form of tax system .Taxpayer need to know about certain basic terms in GST like GST registration, GST Return Filing, GST Software and GST Assessment.
Singapore is known to have one of the lowest taxes globally.
Among the taxes levied by the city-state is the Goods and Services Tax (GST). This type of tax is paid when money is spent on goods and services including imports. A multi-stage tax, the GST is collected at all stages of the production and distribution chain.
OBJECTIVE
Goods and Services Tax (GST) is the Indirect Tax levied in India introduced in July 2017 which was one of the most important reforms in the Indian Economy. GST subsumed various indirect laws in the country and the led to the formation of a common national market. In this webinar, we shall understand the background and rationale for the introduction of GST in India. We shall understand the overview of the law behind GST.
A radical shift is going to happen with the introduction of biggest business reform i.e. Goods and Service Tax Law. Almost all the key things have been decided by the GST council. GST roll out is on the door step of us.
For the benefit of the readers I am herewith attaching GST presentation, hoping it would be useful.
01. introduction to taxation ICAB, KL, Study Manual
01. introduction to taxation ICAB, KL, Study Manual
01. introduction to taxation ICAB, KL, Study Manual
01. introduction to taxation ICAB, KL, Study Manual
GST India Software - Cloud ERP Software For SMEs
1. It’s a Destination based Tax – means based on the Customer
location, we need to pick that state Taxes, Cess etc
2. Place of Supply of Goods and Service is defined
3. Govt is focusing to collect more information per Invoice
including Product HSN Codes and Taxes applied per line items
4. Inter state Input tax credit is available now.
5. Taxable supplies to Include Inter and Intra State taxes
6. New things to note
1. Tax on removal of Goods for Stock transfer within State
2. Based on the duration Tax on Goods issued to Subcontractor (Inter and
Intra State) will be charged.
3. Complimentary and Free Samples are taxed
Souce: www.actouch.com
India has complicated taxation system. This is made even more complex with federal system where state having its own taxation and rules.
The proposed Goods and Services Tax (GST) is planned to be rolled out by July 1st, 2017. This is one of the biggest change Indian Taxation system have seen in last 60 years. This entire system is based on technology backbone and self policing. A great opportunity for software solution providers to develop innovative and efficient solutions which are robust and scalable.
If you go through this whole document very carefully, then it will helps you to understand the overall concept of GST, which is the new taxation system of India.
Key Takeaways:
- Zambia in numbers
- Steps for Registering business in Zambia
- Time and Cost involved in registration
- Tax structure and incentives for businesses
OBJECTIVE
Goods and Services Tax (GST) is the Indirect Tax levied in India introduced in July 2017 which was one of the most important reforms in the Indian Economy. GST subsumed various indirect laws in the country and the led to the formation of a common national market. In this webinar, we shall understand the background and rationale for the introduction of GST in India. We shall understand the overview of the law behind GST.
A radical shift is going to happen with the introduction of biggest business reform i.e. Goods and Service Tax Law. Almost all the key things have been decided by the GST council. GST roll out is on the door step of us.
For the benefit of the readers I am herewith attaching GST presentation, hoping it would be useful.
01. introduction to taxation ICAB, KL, Study Manual
01. introduction to taxation ICAB, KL, Study Manual
01. introduction to taxation ICAB, KL, Study Manual
01. introduction to taxation ICAB, KL, Study Manual
GST India Software - Cloud ERP Software For SMEs
1. It’s a Destination based Tax – means based on the Customer
location, we need to pick that state Taxes, Cess etc
2. Place of Supply of Goods and Service is defined
3. Govt is focusing to collect more information per Invoice
including Product HSN Codes and Taxes applied per line items
4. Inter state Input tax credit is available now.
5. Taxable supplies to Include Inter and Intra State taxes
6. New things to note
1. Tax on removal of Goods for Stock transfer within State
2. Based on the duration Tax on Goods issued to Subcontractor (Inter and
Intra State) will be charged.
3. Complimentary and Free Samples are taxed
Souce: www.actouch.com
India has complicated taxation system. This is made even more complex with federal system where state having its own taxation and rules.
The proposed Goods and Services Tax (GST) is planned to be rolled out by July 1st, 2017. This is one of the biggest change Indian Taxation system have seen in last 60 years. This entire system is based on technology backbone and self policing. A great opportunity for software solution providers to develop innovative and efficient solutions which are robust and scalable.
If you go through this whole document very carefully, then it will helps you to understand the overall concept of GST, which is the new taxation system of India.
Key Takeaways:
- Zambia in numbers
- Steps for Registering business in Zambia
- Time and Cost involved in registration
- Tax structure and incentives for businesses
Brief Introduction of India's Biggest Tax Reform GST[GOODS & SERVICE TAX]. Its impact on Indian economy , Its Benefit, Limitations and its Current Scenario in Other Countries
Presentation on the Indirect Tax system in India, the need for tax reforms, the journey to GST, basic understanding and features of GST and the benefits of GST.
Understanding the Challenges of Street ChildrenSERUDS INDIA
By raising awareness, providing support, advocating for change, and offering assistance to children in need, individuals can play a crucial role in improving the lives of street children and helping them realize their full potential
Donate Us
https://serudsindia.org/how-individuals-can-support-street-children-in-india/
#donatefororphan, #donateforhomelesschildren, #childeducation, #ngochildeducation, #donateforeducation, #donationforchildeducation, #sponsorforpoorchild, #sponsororphanage #sponsororphanchild, #donation, #education, #charity, #educationforchild, #seruds, #kurnool, #joyhome
Russian anarchist and anti-war movement in the third year of full-scale warAntti Rautiainen
Anarchist group ANA Regensburg hosted my online-presentation on 16th of May 2024, in which I discussed tactics of anti-war activism in Russia, and reasons why the anti-war movement has not been able to make an impact to change the course of events yet. Cases of anarchists repressed for anti-war activities are presented, as well as strategies of support for political prisoners, and modest successes in supporting their struggles.
Thumbnail picture is by MediaZona, you may read their report on anti-war arson attacks in Russia here: https://en.zona.media/article/2022/10/13/burn-map
Links:
Autonomous Action
http://Avtonom.org
Anarchist Black Cross Moscow
http://Avtonom.org/abc
Solidarity Zone
https://t.me/solidarity_zone
Memorial
https://memopzk.org/, https://t.me/pzk_memorial
OVD-Info
https://en.ovdinfo.org/antiwar-ovd-info-guide
RosUznik
https://rosuznik.org/
Uznik Online
http://uznikonline.tilda.ws/
Russian Reader
https://therussianreader.com/
ABC Irkutsk
https://abc38.noblogs.org/
Send mail to prisoners from abroad:
http://Prisonmail.online
YouTube: https://youtu.be/c5nSOdU48O8
Spotify: https://podcasters.spotify.com/pod/show/libertarianlifecoach/episodes/Russian-anarchist-and-anti-war-movement-in-the-third-year-of-full-scale-war-e2k8ai4
Many ways to support street children.pptxSERUDS INDIA
By raising awareness, providing support, advocating for change, and offering assistance to children in need, individuals can play a crucial role in improving the lives of street children and helping them realize their full potential
Donate Us
https://serudsindia.org/how-individuals-can-support-street-children-in-india/
#donatefororphan, #donateforhomelesschildren, #childeducation, #ngochildeducation, #donateforeducation, #donationforchildeducation, #sponsorforpoorchild, #sponsororphanage #sponsororphanchild, #donation, #education, #charity, #educationforchild, #seruds, #kurnool, #joyhome
ZGB - The Role of Generative AI in Government transformation.pdfSaeed Al Dhaheri
This keynote was presented during the the 7th edition of the UAE Hackathon 2024. It highlights the role of AI and Generative AI in addressing government transformation to achieve zero government bureaucracy
What is the point of small housing associations.pptxPaul Smith
Given the small scale of housing associations and their relative high cost per home what is the point of them and how do we justify their continued existance
This session provides a comprehensive overview of the latest updates to the Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (commonly known as the Uniform Guidance) outlined in the 2 CFR 200.
With a focus on the 2024 revisions issued by the Office of Management and Budget (OMB), participants will gain insight into the key changes affecting federal grant recipients. The session will delve into critical regulatory updates, providing attendees with the knowledge and tools necessary to navigate and comply with the evolving landscape of federal grant management.
Learning Objectives:
- Understand the rationale behind the 2024 updates to the Uniform Guidance outlined in 2 CFR 200, and their implications for federal grant recipients.
- Identify the key changes and revisions introduced by the Office of Management and Budget (OMB) in the 2024 edition of 2 CFR 200.
- Gain proficiency in applying the updated regulations to ensure compliance with federal grant requirements and avoid potential audit findings.
- Develop strategies for effectively implementing the new guidelines within the grant management processes of their respective organizations, fostering efficiency and accountability in federal grant administration.
Jennifer Schaus and Associates hosts a complimentary webinar series on The FAR in 2024. Join the webinars on Wednesdays and Fridays at noon, eastern.
Recordings are on YouTube and the company website.
https://www.youtube.com/@jenniferschaus/videos
2. GST
• Goods and service tax (GST) is a comprehensive tax
levy on manufacture, sale and consumption of goods
and service at a nationallevel.
• Gst is a tax on goods and services with value
addition at each stage.
• Gst willinclude many state and central level
indirect taxes.
• It overcomes drawback present tax system
3. TAXSTRUCTUREININDIA
• Direct Tax :
e.g.: Income Tax, Corporate Tax, Wealth Tax
• Indirect Tax :
e.g.: Excise duty, custom duty, Service Tax, Octrai
Tax, VAT.
4. METHOD OF TAXATION
Progressive Tax :
Increasing rate of tax for Increasing Value or
Volume.
Regressive Tax :
Decreasing rate tax for Increasing Value or
Volume
Proportional Tax :
Fixed rate of tax for every level of income or
production
5. Short comings in current
Tax System
Tax Cascading (Tax on Tax)
Complexity
Taxation at Manufacturing Level
Exclusion of Services
Tax Evasion
Corruption
8. ILLUSTRATIONOFVAT
• In the previous
example, ‘value
added’ by Bis only
Rs.50 (150–100)
• tax on producer B
would be only Rs.5
(i.e., 10 % of Rs. 50)
while
• the tax paid in
previous system
was Rs.15 (10 %of
Rs. 150).
In Old Tax System Consumer has to pay Rs220
In VATsystem Consumer Actually Paid Rs 205
9. PROBLEMSWITHVAT
It is not uniform in nature
VATis different for different states
Different rates of taxation for different
good
10. TAXONOMYOFINDIAN TAXATION
vat / sales tax on sale of goods, other than
newspapers
Stamp duty on other than 10specified
instruments
tax on agricultural income
Toll tax on utilities
Other taxes on land andbuildings, entry of
goods in local area (entrytax),
consumption or sale ofelectricity,
vehicles, luxuries including taxes
on entertainment, betting and
gambling, alcoholic liquor, narcotic
drugs and opium
11. PRE-REQUISITESFORMIGRATING
TO AGST REGIME
• C
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• Abolition of other small taxes - underdiscussions
• Abolition of CSTin a phased manner - beingdone
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haring mechanism to be rationalized - under
12. WHATIS GST
GSTis a comprehensive value added tax on goods
and services
It is collected on value added at eachstage of sale
or purchase in the supplychain
No differentiation between goods and services asGST
is levied at each stage in the supplychain
Seamless input tax credit throughout the supply chain
a
Atall stages of production and distribution, taxes are
Pass through and tax is borne by the finalconsumer
Allsectors are taxed with veryfew
exceptions / exemptions
13. HISTORY
Feb, 2006 : First time introduced concept of GSTand
announced the date of its implementation in 2010
Jan. 2007: First GSTstudy by ASSOCHAMreleased
by Dr. Shome
Feb. 2007: F.M. Announced introduction of GSTfrom
1 April 2010 in Budget
The Government came out with a First Discussion
Paper on GSTin November, 2009
Introduced the 115th Constitution Amendment (GST)
Bill in the year 2011.
14. MODELOF GST
GST Structure
centre GST
GST to be levied
by the
Centre
State GST
GST to be levied
by the State
Dual GST
GST to be levied by the Centre andthe
States concurrently
15. PROPOSEDGST RATE
Presently it is (26.5 %, CENVAT-14 %and
State VAT12.5% )
Items Total GST
rates (in %)
Centre State
Goods 20 12 8
Services 16 8 8
Essential
Goods
12 6 6
16. Taxes proposed to be
subsumed in GST
Central Taxes
Excise Duty
Additional Excise duty
Excise duty under medicinal and toilet
preparation Act
Service Tax
Additional Custom duty commonly known as
countervailing duty (CVD), special additionalduty(
SAD)
Surcharge
CENVAT
17. Taxes proposed to be
subsumed in GST
State Taxes
Value added tax (VAT)
Entertainment tax levied by states
Luxury Tax
Tax on Lottery, betting and gambling
Entry tax other than for local bodies
(Octroi)
19. ILLUSTRATIONOFGST
Product A VAT System GST System
Base Price 100 100
+12% Excise duty 12 NA
+12.5% VAT 14 NA
State GST NA 8
centre GST NA 12
Total Tax Burden 26 20
Value Of Product to
Consumer
126 120
20. WHYDOESINDIA NEEDGST
• GSTis being introduced majorly due to 2 reason
1. The current indirect tax structureis full of uncertainties due to
multiple rates.
2. Due to multiple rates there aremultiple forms.
• GSTthe tax complexity in the prevailing tax regime.
21. GSTCOUNCIL
• GSTlevy will be administered by
1. Union finance minister(chairmen)
2. Union minister in charge of state revenue or finance
3. Minister in charge of finance or taxation.
4. Any other minister(finance minister of the state)
nominated by each state gvt would constitute the
council.
22. DISPUTESETTLEMENT
AUTHORITY(DSA)
• Dispute between state and centre will be handledby
the DSA.
• Appeal from dsa would be dealt with supremecourt.
• Example: if a state receives less revenue in comparison
with its previous one than it can appeal this case to
the dsa.
23. IMPORTANCEOFARTICLE
246(A)
• There is resistance by the SGas VATis the main source of
revenue for the SG.
• In 246(a) certain powers are allocated to thestate
government.
• The parliament &legislature of every state will have the
power to make law with respect to goods and servicetax
imposed by union(gvt) or by the state.
25. HURDLESINIMPLEMENTATION
Dispute between centre and Tax over Tax
Sharing
Highly sophisticated ITinfrastructure required
.
Issue of taxing e-commerce is to be
appropriately addressed and integrated.
Political Imbalace
26. GSTGlobalScenario
More than 140 countries have already
introduced GST/National VAT.
France was the first country to introduce GST
system in 1954.
Typically it is a single rate system but
two/three rate systems are also prevalent.
Canada and
Brazil alone have a dual VAT.
Standard GSTrate in most countries
ranges between 15-20%.
27. INDIA'SGSTSTRUCTUREIS
COMPLEX,SAYSIMF
• Report says the proposed GSTstructure will require the centre to
coordinate with 30 states, which is an administrative challenge.
• Even as the international monetary fund (imf) says the proposed goods
and services tax (gst) will improve tax compliance and enhance
economic growth by 1-1.5 per cent over time, it finds the structure of
the indirect tax regime in indiacomplex.
• “The gst design being contemplated is... Fairly complex, with a dual
administration arrangement that involves the tax authorities of both
the centre and states separately taxing a single transaction,” says the
fund in a report onindia.
28. GST–ADVANTAGES
& unambiguous tax• A
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ru
a
ctu
d
r
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e
veloping country, india needs a transparent
• Acomplex tax structure with multiple rates oftaxes
• Multiple taxes across the supply chain
• High transaction cost in the hands of the tax payers
• Increased tax collections due to wider tax base and bettercompliance
• I
s
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r
ic
o
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s
e
.
mentin international cost competitiveness of indigenous goods and
• E
sc
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ancementin efficiency in manufacture and distribution due to economies of
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elist i.e.Allgoods and services are subject to GST
•
29. GST – ADVANTAGES
• Nature of complexities i.e. Classification to
valuation regarding taxability, exist in the present
structure.
Some of such burning issues are:
Excise on MRP
Excise, VATand service tax onsoftware,
VAT&service tax on:
• Works contracts
• Right to use
30. GST:PROPOSEDKEY
FEATURES
Dual GST:central GST&state GST
Destination based state GST
Uniform classification
Uniform forms – returns, challans ( in electronic
mode)
No cascading of central and state taxes
Cross credit between centre and state notallowed
Tax levied from production to consumption
31. GST:GLOBAL
PERSPECTIVE
• It has been a part of the tax landscape in Europe for the past 50 years.
• It is fast becoming the preferred form of indirect tax in the Asia-
pacific region.
• While countries such as Singapore and new Zealand tax virtually
everything at a single rate, Indonesia has five positive rates, a zero rate
and over 30 categories ofexemptions.
• In china, GSTapplies only to goods and the provision ofrepairs,
replacement and processingservices.
• It is only recoverable on goods used in the production process, and gst
on fixed assets is not recoverable.
• There is a separate business tax in the form of vat.
32.
33. GST:GLOBALPERSPECTIVE
• Goods and services tax in brazil
• Brazil was the first country to adopt GSTsystem.
• Brazil has adopted a dual gst where the tax islevied
by both the central and the provincial
governments.
• Gst rate is 20 %.
34. GST- CANWEADOPTIT
• An information network allowing GSTCouncil to cross-
check payment information should be developed.
• What is needed is an ITsystem like the tax information
network (tin), where the TDSor the vat credit isrecorded
in a central database.
• Paper bills and fraud to be largelyeliminated.
35. KNOWING MOREABOUT GST
• We all will pay GSTon every product or service we buy/ consume
• A
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• T
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rs or service providers collect the tax from their
• B
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ameto the exchequer, they deduct thetax
• T
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.
ss of GST would rest upon efficiency, equity and