This presentaion will help you to understand the basic about GOODS & SERVICES TAX,

1. Goods and Services Tax (GST)
Name :Ronit Rajendra Kharade
(Assistant Professor & TPO)

3. Introduction
The Goods and Services Tax (GST) is a vast concept that
simplifies the giant tax structure by supporting and enhancing
the economic growth of a country. GST is a comprehensive
tax levy on manufacturing, sale and consumption of goods and
services at a national level. The bill was passed by the Rajya
Sabha on 3 August 2016, and the amended bill was passed by
the Lok Sabha on 8 August 2016 and the GST was launched
at midnight on 1 July 2017 by the President of India, and the
Government of India. Goods and services are divided into five
different tax slabs for collection of tax - 0%, 5%, 12%, 18%
and 28%. However, petroleum products, alcoholic drinks, and
electricity are not taxed under GST and instead are taxed
separately by the individual state governments, as per the
previous tax.

5. What is GST
•GST is A single tax on the supply of goods and services
•GST is a compressive indirect tax on manufacturing sales
Consumption of the good as well as service at the national
level
•It will replace all indirect taxes on Goods and services by
state and Centre
• The GST would reduce the overall tax burden

7. Journey of GST in India

8. Example of How GST Works

16. Model of GST
India adopted a dual GST model, meaning that taxation is
administered by both the Union and state governments. ...
For inter-state transactions and imported goods or services

17. There are four types of GST:
•Central Goods and Services Tax.
•State Goods and Services Tax.
•Integrated Goods and Services Tax.
•Union Territory Goods and Services Tax.
Type of GST

18. Central Goods and Services Tax (CGST)
Under GST, CGST is a tax levied on Intra State supplies of
both goods and services by the Central Government and will
be governed by the CGST Act. SGST will also be levied on the
same Intra State supply but will be governed by the State
Government.
This implies that both the Central and the State governments
will agree on combining their levies with an appropriate
proportion for revenue sharing between them. However, it is
clearly mentioned in Section 8 of the GST Act that the taxes be
levied on all Intra-State supplies of goods and services but the
rate of tax shall not be exceeding 14%, each.

19. CGST replaces all the existing Central taxes including
Service Tax, Central Excise Duty, CST, Customs Duty, SAD,
etc. The rate of CGST is usually equal to the SGST rate.
Both taxes are charged on the base price of the product

20. State Goods and Services Tax (SGST)
Under GST, SGST is a tax levied on Intra State supplies of both
goods and services by the State Government and will be
governed by the SGST Act. As explained above, CGST will also
be levied on the same Intra State supply but will be governed by
the Central Government.

21. An example for CGST and SGST:
Let’s suppose Rajesh is a dealer in Maharashtra who sold
goods to Anand in Maharashtra worth Rs. 10,000. The GST
rate GST is 18% comprising of CGST rate of 9% and SGST
rate of 9%. In such case, the dealer collects Rs. 1800 of which
Rs. 900 will go to the Central Government and Rs. 900 will go
to the Maharashtra Government.

22. Integrated Goods and Services Tax
(IGST)
Under GST, IGST is a tax levied on all Inter-State supplies of
goods and/or services and will be governed by the IGST Act.
IGST will be applicable on any supply of goods and/or
services in both cases of import into India and export from
India.
Note: Under IGST,
•Exports would be zero-rated.
•Tax will be shared between the Central and State
Government.

23. Consider that a businessman Rajesh from Maharashtra had
sold goods to Anand from Gujarat worth Rs. 1,00,000. The
GST rate is 18% comprised of 18% IGST. In such case, the
dealer has to charge Rs. 18,000 as IGST. This IGST will go to
the Centre.
An example for IGST:

24. UTGST, the short form of Union Territory Goods and Services
Tax, is nothing but the GST applicable on the goods and
services supply that takes place in any of the five territories of
India, including Andaman and Nicobar Islands, Dadra and Nagar
Haveli, Chandigarh, Lakshadweep and Daman and Diu called
as Union ...
Union Territory Goods and Services Tax
The reason why a separate GST was implemented for the Union
Territories is that the common State GST (SGST) cannot be
applied in a Union Territory without legislature. Delhi and
Pondicherry UTs already have their own legislatures, so SGST
is applicable to them.

25. GST Rates

27. Tax
Rates
Products
0.25%
Cut and semi-polished stones are included under
this tax slab.
5%
Household necessities such as edible
oil, sugar, spices, tea, and coffee (except instant)
are included. Coal, (Indian Sweets) and Life-saving
drugs are also covered under this GST slab.
12% This includes computers and processed food
18%
Hair oil, toothpaste and soaps, capital goods and
industrial intermediaries are covered in this slab.
28%
Luxury items such as small cars, consumer durables
like AC and Refrigerators, premium cars, cigarettes
and aerated drinks, High-end motorcycles are
included here.

28. Example of GST Rate

31. Advantages of GST

32. Disadvantages of GST