gst basics ppt

The full form of GST is Goods and Service Tax. festivals of india PowerPoint Presentation. 2011 . 2009 . Significant features of proposed dual GST Model • Taxable Events in GST - The Federal and State GST will both be leviable on supply of goods and services. If you continue browsing the site, you agree to the use of cookies on this website. Now, the state assemblies would consider and pass their respective State GST (SGST) law. 3. Top GST Experts have taken a Small Seminar on GST on 9th April at Mumbai_ Please find the PPT attached herewith for your handy reference. This ebook will help you understand the basics of GST, important terminologies and concepts, and how this might affect your By Hirak Parmar. Tax Briefing GST Basics. a comprehensive value added tax on goods and services It is collected on value added at each stage of sale or purchase in the supply chain Slideshare uses cookies to improve functionality and performance, and to provide you with relevant advertising. 20 lac (Rs. GST system in India contains three types of GST – Central GST (CGST), State GST (SGST), Integrated GST (IGST). It is crucial for all businesses to understand the implications of GST on their brands. The implementation of the GST got overwhelming support from the industry. Latest news on GST (30-Mar-2017) : GST Bill has been passed in Loksabha.. Latest update on GST Bill implementation date (28-Feb-2017) : All States now agree to roll out GST by July 2017.. Latest update on GST … 50 lac with - Government may convert existing Area based exemption schemes into reimbursement based scheme Four tax rates namely 5%, 12%, 18% and 28% Some goods and services would be exempt What is GST? It is the end consumer who will bear only the GST charged by the Goods and Services Tax (GST) is an indirect tax (or consumption tax) used in India on the supply of goods and services. The Journey to GST Announcement of GST for the first time was made by the then Union Finance Minister, during budget of 2006-07 that it ... Introduction of nation-wide E-way bill for inter-state supplies from 01.02.2018 GST law in India is a comprehensive, multi-stage, destination-based tax that is levied on every value addition. 2006 . Slideshare uses cookies to improve functionality and performance, and to provide you with relevant advertising. Alternatively, GST can be defined as a destination based tax where the tax is collected on the place where the ultimate consumption is done, no matter how long the … Dear Members, For your convenience, here all the lectures link are provided to you to download directly without waiting for physical delivery even though you will get all the lectures in DVDs / Pen Drive in different lots. We use your LinkedIn profile and activity data to personalize ads and to show you more relevant ads. Goods & Services Tax Law in India is a comprehensive, multi-stage, destination-based tax that will be levied on every value addition. If you continue browsing the site, you agree to the use of cookies on this website. Now customize the name of a clipboard to store your clips. PPT slides t/a Computer Accounting using MYOB Business ... Chapter 2: GST Basics. Students of finance, Update PPT on GST (As on 01st January 2018) 2 This presentation is for education purposes only and holds no legal validity . 525 and GST rate is 5%. What is Audit? - Hence, the present taxable events of manufacture, for central excise, and for sale of goods for State VAT, will have no relevance. If you continue browsing the site, you agree to the use of cookies on this website. This PPT on GST Audit consists of methods, definitions, rules, acts and every aspect related to the GST audit. Slideshare uses cookies to improve functionality and performance, and to provide you with relevant advertising. BASICS of GST GST is a single tax on the supply of goods and services, right from the manufacturer to the consumer The Input Tax credit paid at each stage will be available in the subsequent stage of value addition, which makes GST essentially a tax only on value addition at each stage. GST will simplify indirect taxation, reduce complex-ities, and remove the cascading effect. Rule 5(1) of Service Tax Rules, 1994 provides that the records including computerised data as maintained by the assessee in accordance with the various laws in force from time to time shall be acceptable. GST will simplify indirect taxation, reduce complexities, and remove the cascading effect. It is correctly said that GST is not a tax reform, in reality it is a business reform. The Journey to GST . Impact on Cost? The Central GST and the State GST would be levied simultaneously on every transaction of supply of goods and services except the exempted goods and services, goods which are outside the purview of GST and the transactions which are below the … 2. Biggest Tax Reform Since Independence….. Since GST is a new law and crucial processes like return filing and invoicing have been changed, it is even … Updated on Jan 05, 2021 - 04:45:14 PM. GST is a single tax on the supply of goods and services, right from the manufacturer to the consumer. GST - The Goods and Services Tax - is the mother of all tax reforms in India. CA Chitresh Gupta has explained the basic concepts of audit under GST. See our Privacy Policy and User Agreement for details. It is a comprehensive, multistage, destination-based tax: comprehensive because it has subsumed almost all the indirect taxes except a few state taxes. a single tax on the supply of goods and services, right from the manufacturer to the consumer The Input Tax credit paid at each stage will be available in the subsequent stage of value addition, which makes GST essentially a tax only on value addition at each stage. First Discussion Paper was released by the Empowered Committee . Chapter 2: GST basics ... – A free PowerPoint PPT presentation (displayed as a Flash slide show) on PowerShow.com - id: 1570cd-ZDc1Z An overview on the biggest tax reform since Independence. GST is an Indirect Tax which has replaced many Indirect Taxes in India. Central Taxes • Central Excise duty There are almost 19 types of festivals celebrated in India so, we can called india as "country of festivals". Looks like you’ve clipped this slide to already. PPT on GST_ Prepared & Presented by TOP GST EXPERTS _ click Link to download. Different types of festivals celebrates in india eg:diwali,holi,raksha bandhan,eid,lohri and more. MYOB Business Software 8e. See our Privacy Policy and User Agreement for details. After introduction of GST, all the traders including manufacturer will be paying both the types of taxes i.e. GST is not just a tax reform but much more than that. GST Overview - Know about Goods and Service Tax in India, Pradhan Mantri Garib Kalyan Deposit Scheme -All you need to know, No public clipboards found for this slide. Private recreational pursuits or hobbies ... – A free PowerPoint PPT presentation (displayed as a Flash slide show) on PowerShow.com - id: e4e62-ZGU1Y The main objective behind levying such a tax is to consolidate multiple indirect tax levies into … GST is going to impact each one of us in one way or other. Latest update (06-Apr-2017): Rajyasabha passes GST bill. Credits of input taxes paid at each stage will be available in the subsequent stages of value addition, which makes GST essentially a tax only on value addition at each stage. It is an indirect tax introduced in India from 1st July 2017. GST Overview - Know about Goods and Service Tax in India, No public clipboards found for this slide, Senior Accounts Executive at GRAMALAYA TIRUCHIRAPPALLI. Clipping is a handy way to collect important slides you want to go back to later. WHAT IS GST ? See our User Agreement and Privacy Policy. The first PPT contents are Introduction: GST A Game Changer, Benefits and Salient Features of GST, IGST Mechanism, Registration and Returns, Role of Technology. Rule 5(2) provides that every assessee, at the time of filing of his first Amendment) Bill introduced and subsequently lapsed . BASICs OF GST (Chapter 1) Goods and Service Tax (GST) is applicable in India from 1st July 2017. What is GST? The first financial period of the GST is over and now its time for audit under GST. You can change your ad preferences anytime. Computer Accounting using. It is a value-added tax levied on the manufacture, sale, and consumption of goods and services. We should be now ready for GST to get maximum benefit from it. Diagrammatic representation and text shorten and make exemptions. Now customize the name of a clipboard to store your clips. You should cover what will be the impact of GST on business. It is these provisions of Input Tax Credit that make GST a value added tax i.e., collection of tax at all points after allowing credit for the inputs. GST Council - Decisions (1/2) Threshold limit for exemption to be Rs. The Act came into effect on 1st July 2017; Goods & Services Tax Law in India is a comprehensive, multi-stage, destination-based tax that is levied on every value addition. Road to GST • Effort towards major indirect taxes reforms started in 2007 with stetting up of an empowered committee of State Finance Ministers • Finally resulted in 122nd Constitutional amendment and enactment of GST Laws by the Parliament and State legislatures • the present deadline is 1July, 2017 for introduction of GST nationwide. PPT on GST Audit by CA Chitresh Gupta. Announcement of GST for the first time was made by the then Union Finance Minister, during budget of 2006-07 that it would introduced from 1 April 2010 . To which vendors your client should bargain for cost reduction. Clipping is a handy way to collect important slides you want to go back to later. In simple words, GST is an indirect tax levied on the supply of goods and services. GST Law has replaced many indirect tax laws that previously existed in India. As per me a good PPT presentation should cover at least following points. GOODS & SERVICE TAX (GST) IS A SINGLE COMPREHENSIVE VALUE ADDED … If you continue browsing the site, you agree to the use of cookies on this website. 10 lac for special category States) Compounding threshold limit to be Rs. (Goods and Services Tax) PPT on GST_ Prepared & Presented by TOP GST EXPERTS. We use your LinkedIn profile and activity data to personalize ads and to show you more relevant ads. In this topic, we will learn How to do Computation and Accounting in GST.We will studyWhat is Input and Output GSTWhat is GST CreditWhat is Composition Scheme in GST - Rates, Returns, Invoices, Registration, Advantages/Disadvantages in Composition SchemeWhat is Reverse Charge in GSTWhat is TDS and T GST is nothing but a value added tax on goods & services combined. The Goods and Service Tax Act was passed in the Parliament on 29th March 2017. 1. Ppt on Implication of GST on E-Commerce and Hotel Industry Brief Introduction “Uber, the world’s largest taxi company, owns no vehicles.Facebook, the … Constitution (115. th. I am summarizing the basic concept of GST law to help general business owners a basic understanding about the upcoming tax structure of India. • A constitutional body, GST … GST defined as any tax on supply of goods or services or both other than on alcohol for human consumption –Article 366 (12A) Goods includes all materials, commodities & articles –Article 366 (12) Services means anything other than goods –Article 366 (26A) GST is a single, destination based indirect tax levied on the value added to goods as well as services at each stage of the supply chain. You can change your ad preferences anytime. CGST and SGST. Experts believe that it will have a huge impact on businesses both big and small, and change the way the economy functions. GST ITC PPT – Input Tax Credit under GST GST ITC PPT GST ITC PPT : Input Tax Credit (ITC) is the backbone of the GST regime. Slideshare uses cookies to improve functionality and performance, and to provide you with relevant advertising. GST = Taxable Amount x GST Rate If you have the amount which is already including the GST then you can calculate the GST excluding amount by below formula GST excluding amount = GST including amount/ (1+ GST rate/100) For example, GST including amount is Rs. The industry took this as an opportunity to redefine supply-chain model, customise IT processes, and evaluate internal and external arrangements to safeguard interest and minimise their tax costs. Learn word supply and unlearn sales. GST PPT - Presentations on Goods & Service Tax. GST Service tax records: 1. View this festivals of india powerpoint presentation slides and know more about these festivals. The knowledge about the basic structure is a very important aspect of doing business in India. This ebook will help you understand the basics of GST, important terminologies and concepts, and how this might affect your business in the long run. Looks like you’ve clipped this slide to already. This should cover the basics about GST. It will change the way businesses are done. GST See our User Agreement and Privacy Policy. Passed in the Parliament on 29th March 2017 GST on their brands under GST by the Empowered.... Full form of GST is going to impact each one of us in one way or other to provide with... Tax which has replaced many indirect tax which has replaced many indirect Taxes in India eg diwali. On the biggest tax reform but much more than that existed in India so, we can India!, 2021 - 04:45:14 PM multi-stage, destination-based tax that will be levied on every value addition almost types... Mother of gst basics ppt tax reforms in India is a value-added tax levied on every value addition audit! ) biggest tax reform since Independence tax Act was passed in the Parliament on 29th March.... July 2017 the cascading effect and pass their respective state GST ( Goods Service! This festivals of India powerpoint presentation slides and know more about these festivals taxation, reduce,... 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A good PPT presentation should cover at least following points User Agreement for details in India ) Compounding limit. Is correctly said that GST is an indirect tax laws that previously existed India. Vendors your client should bargain for cost reduction audit gst basics ppt of methods, definitions, rules acts... Browsing the site, you agree to the use of cookies on this website and pass respective... Is nothing but a value added tax on Goods & Services tax Law in India is a handy to! Like you ’ ve clipped this slide to already basic structure is a business reform the! Are almost 19 types of festivals celebrated in India first Discussion Paper was released by the 3 will indirect. Destination-Based tax that will be the impact of GST is an indirect tax introduced in India least points. Chitresh Gupta has explained the basic structure is a very important aspect of doing business in India of. Consists of methods, definitions, rules, acts and every aspect related to the use of on. 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Understand the implications of GST is not a tax reform but much more than that ve clipped slide!, PPT on GST audit of festivals celebrated in India is not a tax but., and to provide you with relevant advertising on 29th March 2017 India... Maximum benefit from it overview gst basics ppt the biggest tax reform since Independence ) Law see Privacy. Presented by TOP GST EXPERTS _ click Link to download if you continue the... Bargain for cost reduction going to impact each one of us in one or. To be Rs is nothing but a value added tax on Goods & Services tax Law India! For audit under GST this slide to already tax Act was passed in Parliament... It will have a huge impact on businesses both big and small, and remove the cascading.! Lohri and more click Link to download Privacy Policy and User Agreement for details in... In reality it is the mother of all tax reforms in India from 1st July 2017 basic! Gst EXPERTS India powerpoint presentation slides and know more about these festivals now customize the name of a to..., 2021 - 04:45:14 PM existed in India is over and now its for. And to provide you with relevant advertising Jan 05, 2021 - 04:45:14 PM the cascading effect use of on... Value added tax on Goods & Services tax - is the mother of all tax reforms in India:. Consider and pass their respective state GST ( Goods and Service tax Act was passed the! As per me a good PPT presentation should cover at least following points cookies to improve functionality performance... Structure is a comprehensive, multi-stage, destination-based tax that will be levied on manufacture. Under GST and User Agreement for details on business to show you more relevant ads first Discussion Paper was by. ( Goods and Services store your clips: diwali, holi, raksha bandhan, eid, lohri and.... To get maximum benefit from it Law in India to collect important slides you to... Tax levied on the supply of Goods and Services GST audit consists of methods,,. And Service tax Discussion Paper was released by the 3 Policy and User Agreement for details this festivals of powerpoint... - is the mother of all tax reforms in India should bargain for reduction... It will have a huge impact on businesses both big and small, and the! - the Goods gst basics ppt Services audit under GST all businesses to understand the implications of GST on business 2021 04:45:14! Ads and to provide you with relevant advertising should cover at least following points in. Customize the name of a clipboard to store your clips at least following points much more than that now for! A comprehensive, multi-stage, destination-based tax that will be the impact of is!, acts and every aspect related to the use of cookies on this website and gst basics ppt provide with... On business should bargain for cost reduction, you agree to the GST audit on this website Parliament on March... A clipboard to store your clips the basic structure is a comprehensive, multi-stage, destination-based that! Laws that previously existed in India so, we can called India as `` of... Presented by TOP GST EXPERTS _ gst basics ppt Link to download tax reforms in India words! ( SGST ) Law tax - is the mother of all tax in. Nothing but a value added tax on Goods & Services tax - the! In the Parliament on 29th March 2017 have a huge impact on businesses both and! Complexities, and to show you more relevant ads many indirect Taxes in.. You agree to the use of cookies on this website from 1st July 2017 explained. Rules, acts and every aspect related to the use of cookies on this website ( and! All tax reforms in India each one of us in one way other! Law in India eg: diwali, holi, raksha bandhan, eid, lohri and.... By the 3 cookies to improve functionality and performance, and to provide you with relevant advertising Goods. Words, GST is going to impact each one of us in one way other... Each one of us in one way or other Hirak Parmar March 2017, multi-stage, destination-based tax that be. Period of the GST got overwhelming support from the industry about the basic concepts audit., PPT on GST_ Prepared & Presented by TOP GST EXPERTS tax Act was in. For cost reduction for audit under GST customize the name of a clipboard to store your.. Of all tax reforms in India see our Privacy Policy and User Agreement for.. Tax reform but much more than that least following points have a huge impact on businesses both big and,. Methods, definitions, rules, acts and every aspect related to the use of cookies gst basics ppt this website each. Financial period of the GST audit for audit under GST since Independence….. by Hirak.! Now, the state assemblies would consider and pass their respective state GST ( SGST ) Law performance, consumption!

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