Goods and Services Tax(GST) Training institute In Delhi

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GOODS AND SERVICES TAX (GST)
A Presentation by ATTITUDE ACADEMY
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What is GST?

• G Goods
• S Services
• T Tax
• Goods and Service Tax (GST) is a comprehensive
  tax levy on manufacture, sale and consumption of
  goods and service at a national level.
• GST is a tax on goods and services with value
  addition at each stage having comprehensive and
  continuous chain of set-of benefits from the
  producers/ service providers point up to the
  retailers level where only the final consumer
  should bear the tax.

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Present condition of traders
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Why do we need GST today

• In Indian economy the service sector contributes
  over 55.
• Separate taxation of goods and services is
  neither viable nor desirable
• Value added in manufacture and sale of goods
  require inputs of both goods and services
  and vice versa, which is often not separable

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GST- HOW IT WORKS

• The dealers registered under GST (Manufacturers,
  Wholesalers and retailers and service providers)
  will charge GST on the price of goods and
  services from their customers.
• They will claim credits for the GST included in
  the price of their own purchases of goods and
  services used by them.
• The sellers or service providers collect the tax
  from their customer, who may or may not be the
  ultimate customer, and before depositing the same
  to the exchequer, they deduct the tax they have
  already paid.

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GST In India A REALITY

• The stage looks all set for the introduction of
  unified Goods and Services Tax (GST) from 2010.
• The Empowered Committee of State Finance
  Ministers has proposed a dual GST both at
  Central and State level.

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GST- WHAT ALL IT INCLUDES

• A sale or supply includes a sale of goods
• Lease of premises
• Hire of equipment
• Giving advice
• Export of goods and supply of other things.
• A purchase includes an acquisition of goods or
  services such as trading stock a lease,
  consumables and other things.

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What will be out of GST?

• Levies on petroleum products
• Levies on alcoholic products
• Taxes on lottery and betting
• Basic customs duty and safeguard duties on import
  of goods into India
• Entry taxes levied by municipalities or
  panchayats
• Entertainment/ Luxury taxes levied by local
  bodies
• Electricity duties/ taxes
• Stamp duties on immovable properties
• Taxes on vehicles

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TAXES NOT BE INCLUDED IN GST

• Central Taxes
• Specific Cess
• Excise duty on tobacco products
• State Taxes
• Items containing alcohol
• Entertainment tax (Local Bodies)
• Entry tax for local bodies
• Electricity duty

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GST KEY FEATURES

• HSN to be applied for goods
• Uniform return collection procedure for central
  and state GST
• 13 digit PAN based common TIN Registration
• TINXSYS to track transactions

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GST AUTHORITIES

• CGST To be administered by Central Government.
• SGST To be administered by State VAT Department
• Inter State Transaction To be administered by A
  common Centralized Authority

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To learn more about gst

• Contact Us
• Address ATTITUDE TALLY ACADEMY B-2/19 A, GROUND
  FLOOR,YAMUNA VIHAR, DELHI 110053
• Phone No 011-43522158
• Mobile No. 91-9654382235
• Email ID info_at_attitudetallyacademy.com
• Website www.attitudetallyacademy.com

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Thank you