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GOODS &
SERVICES TAX ACT
PROJECT GUIDE-
DR. SHUBHAM MISHRA
PRESENTED BY-
ANKITA SALNI TOPPO (08)
NIDHI TIGGA (40)
NISHA CHHAVI KINDO (43)
PRIYAM VISHWAKARMA (50)
RIYA GUPTA (58)
TOPIC-
STRUCTURE OF GST
 SGST
 UTGST
 CGST
 IGST
BENEFITS OF GST
LIMITATIONS OF GST
PRE-GST INDIRECT TAX STRUCTURE IN INDIA
Central excise duty
Additional duties of excise
Excise duty levied under medicinal
& toiletries preparation act
Additional duties of customs(SAD &
CVD)
Service tax
Surcharges & cesses
State VAT / sales tax
Purchase tax
Entertainment tax
Luxury tax
Entry tax
Taxes on lottery, betting &
gambling
Surcharges and cesses
CENTRAL TAXEX STATE TAXEX
GST
GST
IGST
SGST/UT
GST CGST
GST STRUCTURE IN INDIA
Structure of GST:
INTRA- STATE SUPPLY
SGST+CGST SGST+CGST
INTRA-STATE SUPPLY
UTGST+CGST
INTRA-STATE SUPPLYFOREIGN TRADERS
INTER-STATE SUPPLY
INTER-STATE SUPPLY
IGST
IGST
IMPORT-EXPORT
IGST
IGST
STATE STATE
UNION TERRITORY
goods ans services tax,act - pros & cons
BENEFITS OF GST
Reduction in cascading of taxes
Overall reduction in prices
Common national market
Benefits to small taxpayers
Self-regulating tax system
Non-intrusive electronic tax system
REDUCTION IN PRICE OF GOODS UNDER GST:
REDUCTION IN PRICE OF SERVICES UNDER GST
BENEFITS OF GST
Simplified tax regime
Reduction in multiplicity of taxes
Consumption based tax
Abolition of CST
Exports to be zero rated
Protection of domestic industries-IGST
BENEFITS OF GST
DECREASE IN INFLATION
EASE OF DOING BUSINESS
DECREASE IN BLACK TRANSACTION
MORE INFORMED CONSUMER
POORER STATES TO GAIN
MAKE IN INDIA
LIMITATIONS OF GST
Increase cost due to software purchase
Hardship in GST compliance
Increase in operational cost
Effective in the middle of the financial
year
An online taxation system
SMEs will have higher tax burden
LIMITATIONS OF GST
Petroleum & liquor are not at tax regime
No anti inflationary
Costlier services
Administration complexities
Registration in each state
Stamp duty is also out of tax regime
CONCLUSION:
GST is the most logical steps towards the comprehensive
indirect tax reforms in our country. GST is levied on all
supply of goods & services, it is destination based taxation
system.
GST is all set to integrate state economies and boost
Overall growth. GST will create a single, unified Indian
market to make the economy stronger.
THANK YOU...
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goods ans services tax,act - pros & cons

  • 2. PROJECT GUIDE- DR. SHUBHAM MISHRA PRESENTED BY- ANKITA SALNI TOPPO (08) NIDHI TIGGA (40) NISHA CHHAVI KINDO (43) PRIYAM VISHWAKARMA (50) RIYA GUPTA (58)
  • 3. TOPIC- STRUCTURE OF GST SGST UTGST CGST IGST BENEFITS OF GST LIMITATIONS OF GST
  • 4. PRE-GST INDIRECT TAX STRUCTURE IN INDIA Central excise duty Additional duties of excise Excise duty levied under medicinal & toiletries preparation act Additional duties of customs(SAD & CVD) Service tax Surcharges & cesses State VAT / sales tax Purchase tax Entertainment tax Luxury tax Entry tax Taxes on lottery, betting & gambling Surcharges and cesses CENTRAL TAXEX STATE TAXEX GST
  • 6. Structure of GST: INTRA- STATE SUPPLY SGST+CGST SGST+CGST INTRA-STATE SUPPLY UTGST+CGST INTRA-STATE SUPPLYFOREIGN TRADERS INTER-STATE SUPPLY INTER-STATE SUPPLY IGST IGST IMPORT-EXPORT IGST IGST STATE STATE UNION TERRITORY
  • 8. BENEFITS OF GST Reduction in cascading of taxes Overall reduction in prices Common national market Benefits to small taxpayers Self-regulating tax system Non-intrusive electronic tax system
  • 9. REDUCTION IN PRICE OF GOODS UNDER GST:
  • 10. REDUCTION IN PRICE OF SERVICES UNDER GST
  • 11. BENEFITS OF GST Simplified tax regime Reduction in multiplicity of taxes Consumption based tax Abolition of CST Exports to be zero rated Protection of domestic industries-IGST
  • 12. BENEFITS OF GST DECREASE IN INFLATION EASE OF DOING BUSINESS DECREASE IN BLACK TRANSACTION MORE INFORMED CONSUMER POORER STATES TO GAIN MAKE IN INDIA
  • 13. LIMITATIONS OF GST Increase cost due to software purchase Hardship in GST compliance Increase in operational cost Effective in the middle of the financial year An online taxation system SMEs will have higher tax burden
  • 14. LIMITATIONS OF GST Petroleum & liquor are not at tax regime No anti inflationary Costlier services Administration complexities Registration in each state Stamp duty is also out of tax regime
  • 15. CONCLUSION: GST is the most logical steps towards the comprehensive indirect tax reforms in our country. GST is levied on all supply of goods & services, it is destination based taxation system. GST is all set to integrate state economies and boost Overall growth. GST will create a single, unified Indian market to make the economy stronger.