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PowerPoint Presentation on Goods and Services Tax

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Mr. Shivam Gupta
Mr. Shivam Gupta

GST is a comprehensive indirect tax applied to the manufacture, sale, and consumption of goods and services in India. It aims to replace existing indirect taxes and provide a single tax rate with fewer exemptions to reduce the cascading effect of taxes. GST is divided into CGST collected by the central government, SGST collected by state governments, and IGST on inter-state transactions collected by both. Key features include subsuming of various central and state taxes, distribution of GST revenues between states and center, and establishment of a GST council.

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PowerPoint Presentation on Goods and Services Tax
Goods and Services Tax-GST ? GST is a tax that levies on supply of goods or services, or both. It is a comprehensive tax that levies on Manufacture, sale and consumption of goods and services at level. The proposed GST will be levied on all transactions involving supply of goods and services, except those which are kept out of its purview. The main purpose of GST is to Bring Single Umbrella Tax Rate and Removal of Cascading Effect.
Why GST for India? Tax Mechanism Issues in Existing law Administration Needs of India Increases the tax revenues Ensure competitive pricing Ensure boost to exports Demand of Indian economy
Types of GST:- Note:- In case of U.T.s (Union Territories) like Chandigarh, Pondicherry etc., CGST will be applied. CGST CGST(Central Goods and services Tax), that will be charged and collected by central government SGST SGST(State Goods and Services Tax), that will be charged and collected by Respective state governments IGST IGST (Integrated Goods and Services Tax), that will be charged and collected by both central as well as state governments
Salient Features of GST Subsuming of Various Central Taxes Subsuming of various state taxes Distribution of GST No Surcharge Levy on GST Scope of GST Working of GST Council Compensation to State Governments.
Expected Scheme of GST Dual Model Cross Utilization Carry Forward of CENVAT and VAT credit Common Threshold limit GST Registration GST Invoice Tax Return GST Rate Other Miscellaneous Functions
Date of Filing of Return for GST For Inward Dealers- 10th day of end of quarter For Outward Dealers- 15th day of end of quarter For Annual Return- 31st December of respective previous year
For any Query Feel free to Contact Me:- E-Mail:- investuru@gmail.com Website:- www.investuru.com Google Search:- Investuru LinkedIn:- www.linkedin.com/investuru
PowerPoint Presentation on Goods and Services Tax

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PowerPoint Presentation on Goods and Services Tax

  • 2. Goods and Services Tax-GST ? GST is a tax that levies on supply of goods or services, or both. It is a comprehensive tax that levies on Manufacture, sale and consumption of goods and services at level. The proposed GST will be levied on all transactions involving supply of goods and services, except those which are kept out of its purview. The main purpose of GST is to Bring Single Umbrella Tax Rate and Removal of Cascading Effect.
  • 3. Why GST for India? Tax Mechanism Issues in Existing law Administration Needs of India Increases the tax revenues Ensure competitive pricing Ensure boost to exports Demand of Indian economy
  • 4. Types of GST:- Note:- In case of U.T.s (Union Territories) like Chandigarh, Pondicherry etc., CGST will be applied. CGST CGST(Central Goods and services Tax), that will be charged and collected by central government SGST SGST(State Goods and Services Tax), that will be charged and collected by Respective state governments IGST IGST (Integrated Goods and Services Tax), that will be charged and collected by both central as well as state governments
  • 5. Salient Features of GST Subsuming of Various Central Taxes Subsuming of various state taxes Distribution of GST No Surcharge Levy on GST Scope of GST Working of GST Council Compensation to State Governments.
  • 6. Expected Scheme of GST Dual Model Cross Utilization Carry Forward of CENVAT and VAT credit Common Threshold limit GST Registration GST Invoice Tax Return GST Rate Other Miscellaneous Functions
  • 7. Date of Filing of Return for GST For Inward Dealers- 10th day of end of quarter For Outward Dealers- 15th day of end of quarter For Annual Return- 31st December of respective previous year
  • 8. For any Query Feel free to Contact Me:- E-Mail:- investuru@gmail.com Website:- www.investuru.com Google Search:- Investuru LinkedIn:- www.linkedin.com/investuru