GOODS &

SERVICES TAX ACT

 DR. SHUBHAM MISHRA

PRESENTED BY-
ANKITA SALNI TOPPO
(08)
NIDHI TIGGA
(40)
NISHA CHHAVI KINDO
(43)
PRIYAM
VISHWAKARMA (50)
TOPIC-
STRUCTURE OF GST
• SGST
• UTGST
• CGST
• IGST
BENEFITS OF GST
LIMITATIONS OF GST
 PRE-GST INDIRECT TAX STRUCTURE IN
INDIA
CENTRAL TAXEX STATE TAXEX
 Central excise duty
 State VAT / sales tax
 Additional duties of excise
 Purchase tax
 Excise duty levied under medicinal
 Entertainment tax
& toiletries preparation act
 Luxury tax
 Additional duties of customs(SAD &
 Entry tax
CVD)
 Taxes on lottery, betting &
 Service tax
gambling
 Surcharges & cesses
 Surcharges and cesses

GST
GST STRUCTURE IN INDIA

GST
SGST/
IGST UTGST CGST
 Structure of GST:
STATE STATE

SGST+CGST IGST SGST+CGST

INTRA- STATE INTER-STATE SUPPLY INTRA-STATE

SUPPLY SUPPLY

IGST IGST INTER-STATE SUPPLY

UTGST+CGST

FOREIGN TRADERS
IGST INTRA-STATE SUPPLY
IMPORT-EXPORT
UNION TERRITORY
BENEFITS OF GST
Reduction in cascading of taxes
Overall reduction in prices
Common national market
Benefits to small taxpayers
Self-regulating tax system
Non-intrusive electronic tax system
REDUCTION IN PRICE OF GOODS UNDER GST:
REDUCTION IN PRICE OF SERVICES UNDER GST
BENEFITS OF GST
Simplified tax regime
Reduction in multiplicity of taxes
Consumption based tax
Abolition of CST
Exports to be zero rated
Protection of domestic industries-IGST
BENEFITS OF GST
DECREASE IN INFLATION
EASE OF DOING BUSINESS
DECREASE IN BLACK TRANSACTION
MORE INFORMED CONSUMER
POORER STATES TO GAIN
MAKE IN INDIA
LIMITATIONS OF GST
Increase cost due to software purchase
Hardship in GST compliance
Increase in operational cost
Effective in the middle of the financial
year
An online taxation system
SME’s will have higher tax burden
LIMITATIONS OF GST
Petroleum & liquor are not at tax regime
No anti inflationary
Costlier services
Administration complexities
Registration in each state
Stamp duty is also out of tax regime
CONCLUSION:
GST is the most logical steps towards the comprehensive
indirect tax reforms in our country. GST is levied on all
supply of goods & services, it is destination based taxation
system.
GST is all set to integrate state economies and boost
Overall growth. GST will create a single, unified Indian
market to make the economy stronger.
THANK YOU...