The upcoming indirect tax structure of India. Would be eliminating most of the indirect taxes prevailing in India. There we will be disussing all about GST. What & why of GST in a brief. An Initiative by CA Connect India & team

1. GST
( Goods & Service Tax )

2. • Indirect Taxes- A Journey of reforms
•Existing Tax & Proposed
•GST
•Benefits
•Main Issues in GST implementation
•Opportunity for Professional
•Subsumation of Taxes
•GST The biggest Tax Reform

3. Indirect Taxes- A Journey of Reforms
Sales Tax
& CST
Central
Excise
Service tax
VAT

5. Tax
Structure
Direct
Income
Tax
Wealth
Tax
Indirect
Central
Tax
Excise
Service
tax
Custom
Sales Tax
VAT Entertainm
ent Tax,
Luxury Tax
etc.

6. Tax
Structure
Direct
Income
Tax
Wealth
tax
Indirect
Intra
State
CGST SGST
Inter-
State
IGST

7. G
• Goods
S
• Service
T
• Tax

8. 1)GST is the next Generation of reforms in the
area of Indian Indirect Tax Reform.
2)It is a comprehensive Tax which would
eliminate most of the other indirect tax
prevailing in India, like Service Tax , VAT,
CST, Excise.
3)Most probably would be effective by 1 April
2016
4)First was introduced in France in 1954 &
now prevalent iun 150 other countries world
wide.

9. GST can be divided into these
to parts to explain it better.
Charging
Tax
Getting
Credit
The dealers registered
under GST are required
to charge GST at the
specified rate of tax on
goods & services that
supply to customers
If the recipient of goods
& services is a
registered dealer, he
will normally be able to
claim a credit of the
amount of GST he paid,
provided he holds a
proper tax invoice.

10. The net effect is that dealers
charge GST but do not keep
it, and pay GST but get a
credit for it. This means they
act essentially as collecting
agents for Government. The
ultimate burden of tax falls on
last and final consumer of
goods & services, as this
person does not get any
credit for the GST paid by
him to sellers and service

12. Benefits of
GST
Simpler
Tax
Structur
e
Boosts
to
Exports
Competiti
ve Pricing
Increas
ed Tax
Revenu
es

13. Petrol Tax
Entry Tax
Compensation
Issue

14. Matter Compensation Entry Tax Petrol Tax
Proposed 3 years
compensation
Not to be
subsumed
Not to be
subsumed
States Rejects Rejects Rejects
Remedy 3 full years & 2
part years
compensation
To be Subsumed Not to be
subsumed

16. GST
(Goods & service Tax)
CGST
(Central)
Central
Excise Duty
Additional
Excise Duty
Service tax
Special
Additional
Duty
Surcharge
CESS
SGST
(State)
Value
Added Tax
Sales Tax
Entertainm
ent Tax
Tax on
lottery
State cess &
Surcharges

17.  India is all set to roll out the largest indirect
tax reform since Independence 1947.
Finance minister Arun Jaitley is expected to
table the Constitution Amendment Bill in the
current session of Parliament to meet the
deadline of April 1, 2016, for its introduction.
 For the tax to be implemented, the
constitution has to be amended & consensus
must be reached within states.