GST

GOODS AND SERVICE TAX

 TABLE OF CONTENTS

01 02
WHAT IS GST? TYPES OF GST
An indirect tax imposed on the CGST/SGST/IGST/UTGST
supply of goods and services.

03
CONCLUSION
Play a crucial role in the Indian
economy.
 01
WHAT IS GST?
 GST
GST is a consumption-based tax that is
imposed at every stage of the
production and distribution chain. It is
a destination-based tax, meaning it is
levied where the goods or services are
ultimately consumed.
 GST IN INDIA

ATAL BIHARI ARUN JAITLY

VAJPAYEE Introduced GST first in India
Father of GST in India on 1st July, 2017
 GST EVOLUTION IN INDIA

2000 2014 2015 2017

GST Bill passed in

PM Vajpayee set GST Bill GST is launched
Lok Sabha but not
up a committee to reintroduced in on 1st July,2017
passed in Rajya
draft GST law Parliament by Sabha
Finance Minister
 HOW GST IS
CALCULATED?

GST Amount
(Original Cost*GST Rate
Percentage) / 100

Net Price
Original Cost + GST Amount
₹ 1,66,00,000
Gross GST collected in the first
nine months of
FY 2023-24
 02
TYPES OF GST
 TYPES OF GST

CGST SGST
Central Goods and State Goods and
Service Tax Service Tax

IGST UTGST
Integrated Goods and Union Territory Goods and
Service Tax Service Tax
 CGST
CGST is the component of GST that is levied by the
Central Government on intra-state transactions of goods
and services. The revenue collected under CGST goes to
the central government. It is governed by the Central
Goods and Services Tax Act.
 SGST
SGST is the state-level counterpart of CGST. It is levied
by the State Government on intra-state transactions of
goods and services. The revenue collected under SGST
goes to the respective state government. SGST is
governed by the State Goods and Services Tax Act.
 IGST
IGST is applicable to inter-state transactions of goods
and services. It is levied by the Central Government, and
the revenue is shared between the Central and State
Governments. IGST is governed by the Integrated
Goods and Services Tax Act.
 UTGST
UTGST is applicable to the Union Territories of India. It
is imposed on intra-UT transactions of goods and
services. The revenue collected under UTGST goes to
the respective Union Territory. UTGST is governed by
the Union Territory Goods and Services Tax Act.
 03
CONCLUSION
 CONCLUSION
Understanding the different types of GST is crucial for
businesses and consumers alike. It ensures compliance
with the taxation system and facilitates a transparent
and streamlined indirect tax structure. The coexistence
of CGST, SGST, IGST, UTGST, and Cess collectively
contributes to the success of the Goods and Services
Tax regime in India.
THANK YOU