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GST – India
Presentation by Suresh Advani
19th. November, 2016
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Contents
1. GST – Overview- History 1/2
2. GST – Overview – History 2/2
3. GST – Present Status
4. GST – Unique Number
5. GST – Registration
6. GST – Concept
7. GST –GST –Rates
8. GST – Proposed Structure
9. GST – Credits
10. GST – Coverages – Subsumed
11. GST – Coverages – Excluded
12. GST - Issues
3
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GST – Overview - history
In the year 2000 Vijpayee Government started discussion, for introduction of
GST, Committee set up under Asim Dasgupta (Finance Minter of West Bengal),
role of committee was design GST model as well as check IT preparation for
same.
In his in budget speech of 2004-05, the then finance minister P .Chidambaram
says: “In the medium-to-long term, it is my goal that the entire production-
distribution chain should be covered by a national VAT (value added tax), or
even better, a goods and services tax, encompassing both the centre and the
states.”
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GST – Overview - History
2010 – Government launches mission mode for computerisation of Taxes, this
is foundation stone for GST.
2011 – Congress introduces Constitution Amendment bill in Loksabha, main
opposition parties oppose (BJP & Left) – bill sent to standing committee, ,
finally bill lapses in year 2014.
2012 – P. Chidambaram, has meeting with all state Finance Ministers to
discuss GST.
2013 – Standing committee provides suggestion on Tax reforms and changes.
2015 Feb – Jaitley announces implementation of GST, in year 2016,
2016 May- Government passes Constitutional Amendment bill.
5
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GST – Present Status
GST Bill, which is passed in 2016 Sep.
Question in front of Ruling Government is, are we going to introduce as Money
Bill or Finance Bill, Speaker of house will decide.
To Bring IT set up, 30,000 square feet areas has been set up in Delhi
.
Digital Platform
Customers
State - GST
Centre GST
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GST – Unique Number
15 digit number
2 - Digit represents
State
Next 10 - Digit
represents PAN
Number
13th. digit number
Consist of registration
number of assesse,
14th digit is Z, for all
number
15th. digit number is
correction number
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GST – Registration
1. All the taxpayers with PAN validated from CBDT’s database are not
required to apply for fresh registration under GST. They can get provisional
GSTIN from GST portal with a validity of 6 months so that they can provide
relevant data as per GST registration form.
2. GST – Registration has started in most of states.
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GST – Concept
1. Consumption state to earn tax.
2. Manufacturing state will loose tax earnings.
3. States to be compensated for 5 years.
4. Avoids Cascading effect of tax.
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GST – Rates
The four GST slabs have been set at 5%, 12%, 18% and 28% for different items or
services.
To keep inflation in check, essential items including food, which at present
constitute roughly half of the consumer inflation basket, will be taxed at a zero
rate. The lowest rate of 5 per cent would apply to common use items.
The peak rate of 28% will apply to luxury goods. Luxury cars, tobacco products
and aerated drinks will attract an additional cess on top of the highest tax rate.
The additional cess and a clean energy cess will create a revenue pool which will
be used to compensate states for any loss of revenue during the first five years of
the implementation of GST, Mr Jaitley said.
Service Tax will go up from 15% to 18 %, said Revenue Secretary Hasmukh
Adhia.
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GST – Proposed Structure
1. CGST – Central Goods and Service Tax
2. SGST – State Goods and Service Tax
3. IGST – Interstate Goods and Service Tax
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GST – Credits
1. Liberal Credits
2. Credits on all bills
3. Uploads Necessary to claim credits
12
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GST – Coverage - Subsumed
Subsumed:
 Excise Duty
 CVD, SAD
 Service Tax
 VAT
 CST
 Entry Tax
 Octroi
 LBT
13
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GST – Coverage - Excluded
Exculded:
 Basic Customs Duty
 Entertainment Tax
 Taxes at Municipal Level
 Electricity Duty
14
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GST – Issues
Old Wine in New Bottle
 GST Staff
 State and Central sharing.
29 states and the two Union Territories with legislatures. Given the sharp
differences in the structure of the economy and sales tax revenue (as a ratio
of gross state domestic product, or GSDP) across states, the interests of the
states do not always coincide and considerable effort is needed to persuade
them to adopt a uniform or even a broadly harmonised structure and
administrative system for the tax.
 Transitional period, accounting/ inventory/ set-off
15
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GST
Thank You

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