This document provides an overview of key concepts related to the Goods and Services Tax (GST) implemented in India. It explains that GST aims to replace existing indirect taxes with a single tax to create a unified Indian market. GST is a destination-based tax that will be levied on the supply of goods and services, with taxpayers allowed seamless credit for taxes paid at each stage of production. Only value addition at each stage will be taxed, with the burden falling on the final consumer. The document outlines changes businesses need to make to comply with GST, including modifications to software, processes and reporting.

1. GST Concept
Presented by
MM Infosystems Pvt Ltd

2. GST (Goods & Services Tax), a single unified indirect tax system aims at uniting
India’s complex taxation structure to a ‘One Nation- One Tax’ regime.
Destination based tax on supplies of goods and services.
It will be levied on all supplies with seamless flow of credit (for both goods &
services) till it reaches the end consumer
Only value addition will be taxed and burden of tax is to be borne by the final
consumer.
GST would replace indirect taxes
• Central Excise Duty
• CVD
• CST & VAT
• Entry Tax & Octroi
• Surcharges & Cess
levied by State govt

3. Simple Tax Structure
Eliminating Cascading Effects
Technology Driven System
Increase Revenue

7. SGST
Location of
Supplier
Place of Supply
HARYANA
Charge of Tax
CGST
Intra State

8. PUNJABHARYANA
IGST
Location of Supplier Place of Supply
Charge of
Tax
Inter State

9. GST CONCEPTS

10. Invoice Matching
Input Tax Credit
Return Filing

11. TAX
Government
GSTN BuyerSeller
Buyer gets input credit only if seller pays GST
Seller pays tax to
the government
Buyer gets
input credit
Government Server Matches
Invoices of Buyer & Seller

12. CGSTIGST CGST - ITC
SGST
IGST
SGST - ITC
IGSTCGST IGST- ITC
SGST
Input credit will not be credited to bank. It will be available in an electronic ledger
which can be adjusted against tax liability

13. Seller needs to pay taxes before buyer can take input credit
Input credit is available for direct and indirect purchases
To enforce these laws, invoice level detailing is a MUST
To implement this effectively, technology is a MUST
To make it work effectively Auto Reporting is Must
First time ever in India, technology-centric compliance will be
implemented

14. IMPACT ON
BUSINESS

15. APRIL May
PAID UNPAID CAN’T PAY
If you miss a month’s filing
 You can’t file for the subsequent
month
 Unless tax for the previous month
is paid

16. Not monitored extensively Invoices of supplier and recipient NEED to MATCH
VAT
Availed based on returns Can be availed ONLY WHEN INVOICES ARE
MATCHED and SELLER PAYS TAX LIABILITY.
Was not able to claim on all business expenses Available for ALL INWARD which are used in furtherance of business
3 times EVERY MONTHOnce a quarter or month
Need to upload EVERY transactionSummary of sales/purchases needs to be filed
Interaction with Government for compliance
GST
Return filing
Invoice Matching
Input Credit
Input Credit on expenses

17. HOW TO
PREPARE FOR
THE GST

18. Make full use of Input Tax Credit & plan for better cash flow by
1. Being compliant
2. Dealing with compliant suppliers

19. Use GST Compliant Software
Recording of all Sales transactions
Download input data from GSTN
Reconcile the input data with data in GSTN
Generate Sales Data for uploading to GSTN
Upload Reconciled input data to GSTN

20. Changes in
to make it
GST Compliant

21. Master Level Changes Done For
GST

22.  New GST Master added.
 In Company Master, column for GSTIN/UIN Number
added.
 In Unit Master, column for GSTIN/UIN Numbers added.
 In Party Master, GST Type
(Reg./Unreg./Exempt/Composite) field provided.
 In Party Master, column of GSTIN/UIN Number
(CGST/SGST/IGST) added.

23.  In Party Master, column of GSTIN/UIN Number
(CGST/SGST/IGST) added address wise.
 In Item Master, HSN/SAC Number column provided.
 In Item Master, Provision to define CGST/SGST/IGST
rates added item wise.
 Mapping of GST Master in Account Master with new
type(GST Account) provided.
 Provision to define GST openings provided in GST
Opening Balances.

34. Transaction Level Changes Done
For GST

35.  Column of GST Name/Rate/Amount are provided item wise in
 Purchase Quotation
 Purchase Order
 Sales Quotation
 Sales Order
 Material Receipt Note
 Invoice
 Debit/Credit Note
 Sale Rate Directory
 Supplementary Invoicing
 Relevant GST Account Changes incorporated in
 Purchase Voucher,
 Sale Voucher,
 Debit/Credit Note Voucher,
 Purchase Return Voucher,
 Sale Return Voucher,
 Job Work(I) Voucher,
 Job Work(O) Voucher.

52. Report Level Changes Done For
GST

53.  Reports Designed as per GST Formats for:
 Invoice
 Material Receipt Note
 Sales Order
 Purchase Order
 Debit/Credit Note

54. GST Returns Level Changes Done
For GST

55.  New GST Returns Designed as per GST Rules:
 GSTR-1
 GSTR-2
 GSTR-3
 GSTR-9 (Under development)

56. New Concept of GST Return Export added:
Outward GST Return
Inward GST Return
GST Return Uploading can be done:
Through ASP – With GST compliance Application
Through GSP – With GSP uploading Application
Through GSTN – with Government GST Server
We are in process to Tie up with GSP and ASP for
auto uploading of GST Returns & Reconciliation
through API

63.  New GST Master (as per excel enclosed)
 Company Master
 GSTIN/UIN No.
 Unit Master
 GSTIN/UIN No.
 GST State Code
 State Master
 GST State Code
 Party Master (as per excel enclosed)
 Item Master (as per excel enclosed)
 Accounts Master
 Mapping of GST Master

64. Thanks for Your Time
Any Queries are welcome