Applied

Mathematics
NAME – Mehak Badalia
CLASS – XI - Tulip
ROLL No. – 22
SUBJECT – Applied Maths
Index
1. Introduction to the GST
2. Salient Features of GST
3. Aims & Objectives of GST
4. Advantages of GST
5. Disadvantages of GST
6. Structure of GST
7. Rate of GST
8. Impact of GST on Common People’s Spending
9. Contribution to GST Revenue from Various Business
Types
10. GST Collection Year Wise (2017-2022)
11. GST Collection in FY 2020-21 Compared to FY 2021-
22
 1: Introduction to the GST:
The Goods and Services Tax, or GST, is an indirect tax law applicable across India. It has replaced
multiple indirect taxes such as excise duty, service tax, value-added tax, entry tax, and luxury tax.
Laws pertaining to the same were put into effect on July 01, 2017, in India. This indirect taxation
system has gone through multiple amendments since to arrive at the current juncture.
2: Salient Features of GST:
 Central Excise Duty.
 Duties of Excise (Medicinal and Toilet Preparations)
 Additional Duties of Excise (Goods of Special Importance)
 Additional Duties of Excise (Textiles and Textile Products)
 Additional Duties of Customs (commonly known as CVD)
 
3: Aims & Objectives of GST:
 To  achieve the ideology of 'One Nation, One Tax'
 To subsume a majority of the indirect taxes in India.
 To eliminate the cascading effect of taxes.
 To curb tax evasion.
 To increase the taxpayer base.
4: Advantages of the GST:
5: Disadvantages of the GST:
6: Structure of the GST:
CGST
(Central GST)
Intra State (within the
state)
SGST
Good supplied or (State GST)
Services provided

Inter state (Between

IGST(Integrate GST)
two states)

SGST CGST IGST

7: Rate of the GST:
GST rates are typically high for luxury items and low for necessities. GST rates in India
for various goods and services are divided into four slabs: 5%GST, 12% GST, 18% GST,
AND 28% GST.
(i) 0%:- Some goods are exempted from GST.
There are fruits, grains, fish etc. However, petrol and alcohol are exempted from GST
but others taxes are charged on them.
(ii)5% (2.5% CGST + 2.5% SGST)
The lowest standard rate applies mostly household necessities and daily essentials, like: -
spices, tea, fertilizers, life-saving medicines and drugs, accessories for specially-abled
individuals, etc.
(iii) 12% (6% CGST + 6% SGST)
This rate slab consists of secondary necessities, like: dry fruits and nuts, butter, cheese,
cooking utensils, business class flight tickets, etc.
(iv) 18% (9% CGST + 9% SGST)
Pasta, biscuits, ice cream, chocolate, hair oil, , toothpaste, detergent, perfume, hotel
accommodation bill equal to or above ₹7500, etc.
(v) 28% (14% CGST + 14% SGST)
Instant coffee, chocolate, air conditioners, dishwashers, aircrafts, TV monitors, etc.
8: Impact of GST on Common People Spending
9: Contribution to GST Revenue from Various
Business Types
Percentage of GST Collection
1%
8%

10%

37%

14%

30%

Public Ltd. Company Private Ltd. Company Proprietorship Public Sector Undertaking Partnership Government Department
10: GST Collection Year Wise (2017-2022)
11: GST Collection in FY 2020-21 Compared to
FY 2021-22
12: Departmental Store’s Bill