The document provides updates on India's implementation of the Goods and Services Tax (GST), including:
1) The GST rollout date has been delayed by 3 months to July 1, 2017 to allow industries more time to prepare for changes.
2) Key recommended GST tax slab rates by the GST council are 28%, 18%, 12%, and 5%, and the service tax rate is expected to increase from 15% to 18%.
3) Industries will need to ensure price reductions from GST benefits are passed to consumers to comply with anti-profiteering provisions.
This is a presentation for those people who wants to understands the basics of gst. This ppt includes how the gst works, Inpu ax Credit, Rates of GST, Composition Scheme etc.
Goods & Services Tax_GST v/s Old Tax Structure (Part 3 of 5)Suryansh Dhawan
Clubbing of old indirect tax in gst, 17 old indirect tax clubbed into gst, tax calculation under old tax structure & gst, adjustment of input under gst & requirement for claiming input tax under gst
This is a presentation for those people who wants to understands the basics of gst. This ppt includes how the gst works, Inpu ax Credit, Rates of GST, Composition Scheme etc.
Goods & Services Tax_GST v/s Old Tax Structure (Part 3 of 5)Suryansh Dhawan
Clubbing of old indirect tax in gst, 17 old indirect tax clubbed into gst, tax calculation under old tax structure & gst, adjustment of input under gst & requirement for claiming input tax under gst
Accolet gst - understanding india gst - comprehensive presentation moduleDeepak Kumar Jain B
Comprehensive Understanding to Levy of India GST. It explains the law, the charge, valuation, time and place of supply, compliances under GST and transitional provisions - more on www.IndiaGST.com
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.
itelligence GST implementation
India is slated to adopt GST from Apr 1, 2017. Hence, businesses need to be technologically-ready
GST is a comprehensive indirect tax levied on Sale, Manufacture and Consumption of Goods and Services at the National level.
GST would apply to all goods other than crude Petroleum, Motor spirit, Diesel, Aviation Turbine fuel and Natural gas.
GST would apply to all services barring a few to be specified
Export and Direct taxes like Income Tax, Corporate Tax, Capital gains tax will not be affected by GST.
Imports will be subject to GST, but exports will be GST-exempt
Where the output is GST exempt, the GST paid on the input will be a cost to the business
Accolet gst - understanding india gst - comprehensive presentation moduleDeepak Kumar Jain B
Comprehensive Understanding to Levy of India GST. It explains the law, the charge, valuation, time and place of supply, compliances under GST and transitional provisions - more on www.IndiaGST.com
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.
itelligence GST implementation
India is slated to adopt GST from Apr 1, 2017. Hence, businesses need to be technologically-ready
GST is a comprehensive indirect tax levied on Sale, Manufacture and Consumption of Goods and Services at the National level.
GST would apply to all goods other than crude Petroleum, Motor spirit, Diesel, Aviation Turbine fuel and Natural gas.
GST would apply to all services barring a few to be specified
Export and Direct taxes like Income Tax, Corporate Tax, Capital gains tax will not be affected by GST.
Imports will be subject to GST, but exports will be GST-exempt
Where the output is GST exempt, the GST paid on the input will be a cost to the business
The slides provide information on the new GST Tax Regime,and how to implement GST in SAP. It provides information on the tax structure and the challenges organization will face during Implementation.
For more information please visit www.salienterp.com or email at info@salienterp.com
We understand that transition to GST will have to be managed in a phased manner and will require proactive and timely planning. YASH experts team of business and functional domain SMEs will help assist the key areas of impact to your business model and prepare different scenarios for the design and GST implementation.
In the evolving environment of the new GST regime it is envisioned that the GST Suvidha Providers (GSP) concept is going to play a very important and strategic role.
this ppt is essentially helpful for beginners for a better understanding of the gst and also many legal and constitutional framework has been added so that u can also overview the law related matters in it.
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
3rd August 2016 became a historic day for economic reforms when Rajya Sabha passed the constitutional amendment bill to GST and paved the way for major taxation reforms. Almost all the political parties have broadly agreed.
Model GST law: From draft towards finality - Dr Sanjiv AgarwalD Murali ☆
Model GST law: From draft towards finality - Dr Sanjiv Agarwal - Article published in Business Advisor, dated September 10, 2016 - http://www.magzter.com/IN/Shrinikethan/Business-Advisor/Business/
GST: Will it be July 2017 now! - Dr Sanjiv AgarwalD Murali ☆
GST: Will it be July 2017 now! - Dr Sanjiv Agarwal - Article published in Business Advisor, dated January 25, 2017 - http://www.magzter.com/IN/Shrinikethan/Business-Advisor/Business/
Get GST Registration online in 1-3 working days in Bangalore with the help of Earnlogic such as GST Registration, GST Return Filing, Affordable Cost, Call Today"
EXPLAINING ABT GST CLAUSE, RULES REGULATION
Executive Summary…………………………………………….1
i
Background of GST within and outside India
ii
Preparation for GST
iii
Need for GST
2
Objective of Study……………………………………………....9
i
Benefits and simplification of GST model in India
3
Scope of GST…………………………………………………...16
4
Literature Review……………………………………………...17
5
Research model………………………………………………...18
6
Data Collection………………………………………………...18
i
Dual GST model to be introduced in India
ii
GST Portal
iii
GST Registration, GSTIN
iv
Composition Dealer, Applicability
v
Migration to GST
vi
Penalties of not registering under GST
vii
Multiple Registration under GST
viii
Input tax credit
ix
x
GST software
GST rate comparison existing tax system v/s new tax system
7
xi
GST return procedure
Data Analysis…………………………………………..............37
i
GST calculation
ii
GST benefit to common man
iii
Impact of GST (Overall, On India, Indian Economy)
8
Negative List…………………………………………………...46
9
List of Tax not considered under GST……………………….48
10
Limitation (Why no to GST)………………………………….49
11
Conclusion……………………………………………………...51
12
Recommendation…………………………………………........53
i feel this presentation enriched with hyperlinks u can easily understand the basics of gst. and i feel the beginners must download this ppt for a better understanding of gst
The biggest ever indirect tax reforms to be implemented ever since 1947 is the GST bill. Execution of this bill is expected to bring economic integration of the Indian economy. Among the group that is highly overwhelmed with the introduction of this form of tax are the start-ups and SME’s. Expectations are that the organizations will benefit the most out of the GST implementation.
GST Tax Calculator: Interstate and Intrastate TransactionsGSTKeeper
The effects of the interstate/intrastate transactions of GST regime in India and the processes involved to successfully comply with the GST Tax Calculator.
As Per My opinion This Is very Useful .
Most of the information Has Been Has Covered in this.
If Some thing left then You can send in comment box Also.
I Will see it and reply you.
Thanks For Your Support
A short presentation by Mr. J.C.Laddha (CEO Copper Business, Hindalco Industries Limited) on GST implementation in India, its successes and challenges ahead. This
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Military Commissions Trial Judiciary, Guantanamo Bay, Cuba. Notice of the Chief Defense Counsel's detailing of LtCol Thomas F. Jasper, Jr. USMC, as Detailed Defense Counsel for Abd Al Hadi Al-Iraqi on 6 August 2014 in the case of United States v. Hadi al Iraqi (10026)
Responsibilities of the office bearers while registering multi-state cooperat...Finlaw Consultancy Pvt Ltd
Introduction-
The process of register multi-state cooperative society in India is governed by the Multi-State Co-operative Societies Act, 2002. This process requires the office bearers to undertake several crucial responsibilities to ensure compliance with legal and regulatory frameworks. The key office bearers typically include the President, Secretary, and Treasurer, along with other elected members of the managing committee. Their responsibilities encompass administrative, legal, and financial duties essential for the successful registration and operation of the society.
ASHWINI KUMAR UPADHYAY v/s Union of India.pptxshweeta209
transfer of the P.I.L filed by lawyer Ashwini Kumar Upadhyay in Delhi High Court to Supreme Court.
on the issue of UNIFORM MARRIAGE AGE of men and women.
Car Accident Injury Do I Have a Case....Knowyourright
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A "File Trademark" is a legal term referring to the registration of a unique symbol, logo, or name used to identify and distinguish products or services. This process provides legal protection, granting exclusive rights to the trademark owner, and helps prevent unauthorized use by competitors.
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PRECEDENT AS A SOURCE OF LAW (SAIF JAVED).pptxOmGod1
Precedent, or stare decisis, is a cornerstone of common law systems where past judicial decisions guide future cases, ensuring consistency and predictability in the legal system. Binding precedents from higher courts must be followed by lower courts, while persuasive precedents may influence but are not obligatory. This principle promotes fairness and efficiency, allowing for the evolution of the law as higher courts can overrule outdated decisions. Despite criticisms of rigidity and complexity, precedent ensures similar cases are treated alike, balancing stability with flexibility in judicial decision-making.
RIGHTS OF VICTIM EDITED PRESENTATION(SAIF JAVED).pptxOmGod1
Victims of crime have a range of rights designed to ensure their protection, support, and participation in the justice system. These rights include the right to be treated with dignity and respect, the right to be informed about the progress of their case, and the right to be heard during legal proceedings. Victims are entitled to protection from intimidation and harm, access to support services such as counseling and medical care, and the right to restitution from the offender. Additionally, many jurisdictions provide victims with the right to participate in parole hearings and the right to privacy to protect their personal information from public disclosure. These rights aim to acknowledge the impact of crime on victims and to provide them with the necessary resources and involvement in the judicial process.
WINDING UP of COMPANY, Modes of DissolutionKHURRAMWALI
Winding up, also known as liquidation, refers to the legal and financial process of dissolving a company. It involves ceasing operations, selling assets, settling debts, and ultimately removing the company from the official business registry.
Here's a breakdown of the key aspects of winding up:
Reasons for Winding Up:
Insolvency: This is the most common reason, where the company cannot pay its debts. Creditors may initiate a compulsory winding up to recover their dues.
Voluntary Closure: The owners may decide to close the company due to reasons like reaching business goals, facing losses, or merging with another company.
Deadlock: If shareholders or directors cannot agree on how to run the company, a court may order a winding up.
Types of Winding Up:
Voluntary Winding Up: This is initiated by the company's shareholders through a resolution passed by a majority vote. There are two main types:
Members' Voluntary Winding Up: The company is solvent (has enough assets to pay off its debts) and shareholders will receive any remaining assets after debts are settled.
Creditors' Voluntary Winding Up: The company is insolvent and creditors will be prioritized in receiving payment from the sale of assets.
Compulsory Winding Up: This is initiated by a court order, typically at the request of creditors, government agencies, or even by the company itself if it's insolvent.
Process of Winding Up:
Appointment of Liquidator: A qualified professional is appointed to oversee the winding-up process. They are responsible for selling assets, paying off debts, and distributing any remaining funds.
Cease Trading: The company stops its regular business operations.
Notification of Creditors: Creditors are informed about the winding up and invited to submit their claims.
Sale of Assets: The company's assets are sold to generate cash to pay off creditors.
Payment of Debts: Creditors are paid according to a set order of priority, with secured creditors receiving payment before unsecured creditors.
Distribution to Shareholders: If there are any remaining funds after all debts are settled, they are distributed to shareholders according to their ownership stake.
Dissolution: Once all claims are settled and distributions made, the company is officially dissolved and removed from the business register.
Impact of Winding Up:
Employees: Employees will likely lose their jobs during the winding-up process.
Creditors: Creditors may not recover their debts in full, especially if the company is insolvent.
Shareholders: Shareholders may not receive any payout if the company's debts exceed its assets.
Winding up is a complex legal and financial process that can have significant consequences for all parties involved. It's important to seek professional legal and financial advice when considering winding up a company.
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You can rely on our assistance if you are ready to apply for permanent residency. Find out more at: https://immigration-netherlands.com/obtain-a-permanent-residence-permit-in-the-netherlands/.
Introducing New Government Regulation on Toll Road.pdfAHRP Law Firm
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DNA Testing in Civil and Criminal Matters.pptxpatrons legal
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2. SAP – GST - Updates
• The Goods and Services Tax (GST) is going to
impact every industry opening up many
opportunities. However, migrating to a GST
compliant system will bring a lot challenges
as well. Here are the some latest updates on
the new tax reform to help you prepare for
the implementation.
4. While the implementation date is 3
months behind the schedule that is July 1,
2017, it is expected that the indirect tax
rate under the current regime, may get
aligned to the GST rates and taxation
framework, pending the enactment.
The new date has provided industries
with a time frame to plan for initiatives
that require process and technology
changes to leverage the business benefit
that will accrue to the economy.
6. In November 2016, the GST council
recommended key slab rates as 28%,
18%, 12% and 5%. The goods of mass
consumption might attract
NIL/lowest slab rate of tax. Also, the
rate of service tax is likely to increase
from current 15% to 18%.
Under the GST regime, the State and
Centre will collect taxes at identical
rates. In addition to this, the luxury or
sin goods can be subjected to
additional cess.
7. Challenge for Industry to Maintain
Status Quo for Profits
• With GST, industries are
expected to maintain status
quo on profits. India Inc. needs
to be aware and conscious of
the anti-profiteering
provisions that may become
applicable in case the benefit
of availability of the input
credit or reduction in the GST
is not adequately passed on to
the consumers. The GST
legislation provides for an
authority to examine whether
GST benefits are passed to
consumer through appropriate
pricing changes.
9. Authority for GST Administration
The appropriate GST administration authority
for assessments for State or Centre, will be
decided by the program. Thus there will be
sharing of the entire tax base of assesses by
the Centre and the State as per pre-
determined ratio.
10. Authority for GST Administration
• During the GST council meeting on January
16, 2017; following were the key decisions
with respect to administration of GST law by
the States
• Powers to levy tax on economic activity
within 12 nautical miles of territorial waters
• Powers to assess and administer 90% of the
tax payers under INR 1.5 crore
annual turnover
11. Authority for GST Administration
Assessee with a turnover over INR 1.5 crore will be
administratively controlled by the Centre and the States in
equal measure. However, the above decisions of the GST
council are being widely contested on the grounds of
constitutional validity.
The States are also expected to receive significant level of
financial assistance to sail smoothly through the GST
transition.
12. Authority for GST Administration
• The industry could face a
challenge in supply
destination. In case there
is a dispute between the
States over the supply
destination, it is agreed
that the Centre will have
the power to administer
those assessed. Further, in
all situations the Centre
has the power to collect
the taxes.
14. Way Forward
• The issues that reached an
agreement will be appropriately
included in the IGST, CGST and
SGST law. The draft laws will be
discussed and submitted for
approval to respective
legislative bodies in the ensuing
GST council meeting. Also, the
GST officials are expected to
complete the classification of
various goods and services
under the respective rates by
end of March 2017. Following
this, a dry/pilot run will be
carried out on the GSTN.
15. Waiting
• A meeting of GST council is convened and
scheduled to be held on February 18, 2017.
Watch out for a detailed calendar of the
events of enactment and other notifications
under the GST law.
16. • Stay tuned for more updates and latest news
on the game changing reform in India.
Rajesh Sharma
Editor's Notes
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Microsoft Confidential
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