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    Introduction

    Uploaded by

    Saubarnika Vishwa
    Gst

    Copyright:

    © All Rights Reserved
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    Introduction

    Uploaded by

    Saubarnika Vishwa
    1 views31 pages
    Gst

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    © © All Rights Reserved

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    Gst

    Copyright:

    © All Rights Reserved
    Download as PPTX, PDF, TXT or read online from Scribd
    Download as pptx, pdf, or txt
    1 views31 pages

    Introduction

    Uploaded by

    Saubarnika Vishwa
    Gst

    Copyright:

    © All Rights Reserved
    Download as PPTX, PDF, TXT or read online from Scribd
    Download as pptx, pdf, or txt
    You are on page 1of 31

    What is GST?

    One Tax For


    Manufacturing

    Trading

    Services ONE NATION: ONE TAX


    Subsuming of Existing Taxes

    CGST
    • Central Excise
    • Additional duties of Custom (CVD)
    • Service Tax
    • Surcharges and all cesses
    • VAT/sales tax
    • Entertainment Tax

    SGST •
    •
    •
    Luxury Tax
    Lottery Tax
    Entry Tax
    • Purchase Tax

    IGST • CST

    S S KALE
    E way bill
     In Maharashtra upto 1 lakh not required.
     For inter state, e way bill required once you cross
    transportation of Rs 50000
     There are some items which are exempted from
    having e way bill
     It has to be generated online.
     Eway bill has to accompany the goods in transit.

    Shrikant kale
    R C M means ?

     (98) “reverse charge” means the liability to pay tax by the


    recipient of supply of goods or services or both instead of
    the supplier of such goods or services or both under sub-
    section (3) or sub-section (4) of section 9, or under sub-
    section (3) or subsection (4) of section 5 of the Integrated
    Goods and Services Tax Act;
    Valid return ?

     (117) “valid return” means a return furnished under sub-


    section (1) of section 39 on which self-assessed tax has been
    paid in full;

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    Registration threshold limit

     As per Section 22 of CGST Act, 2017


     Every supplier shall be liable to be registered in the state from
    where he makes taxable supply of goods/services/both
     If his aggregate turn over exceeds Rs. 20 Lakhs.
     Exemption from registration in CGST Act,2017:- (a) Exclusive
    supply of exempted goods/services (b) agriculturist.

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    Limitations of current Tax regime :

    2. Multiple Registrations

    Central
    Excise
    REGISTRATION COMPULSORY IN FOLLOWING CASES:-

     Persons making inter-state supplies.


     Casual taxable persons
     Any person who pays tax under reverse charge
    mechanism.
     E commerce operator.
     Non resident taxable persons
     Any person who is required to deduct tax at source
    U/s.51.(especially Govt departments & local bodies,)
     Any person who supplies goods or services on behalf of
    others as agent or otherwise.
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    Regn-continue

     Any person who is required to collect tax under section 52.


    ( by e commerce operator)
     Every person supplying on line information and data base
    retrieval service from a place outside India to a person in
    India, other than a registered person.
     Input service distributor
     Every electronic commerce operator.
     Any other person as notified by Govt.
     Grant of Unique Identity Number shall be considered as
    deemed registration meant for Consulates, Govt
    Departments, etc.
    Process of registration

     If liable for registration, required to obtain


    registration within 30 days from the date he
    becomes liable to registration 25(1).
     PAN is must for GST Registration-25(6)
     Other details/documents soft copy required such
    as adhar, light bill,rent agreement,bank details etc
     Online application, verification thru registered
    mobile phone, email, OTP & verification of PAN.
    Then electronic submission of application.
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     Registration can be amended.
     Registration can be cancelled if person does not
    conduct any business from the declared place or
    business or issues invoices or bill without supply of
    goods or service .

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