2. 2006 . Since GST is a new law and crucial processes like return filing and invoicing have been changed, it is even … It is correctly said that GST is not a tax reform, in reality it is a business reform. GST system in India contains three types of GST – Central GST (CGST), State GST (SGST), Integrated GST (IGST). Clipping is a handy way to collect important slides you want to go back to later. What is GST? 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. 10 lac for special category States) Compounding threshold limit to be Rs. As per me a good PPT presentation should cover at least following points. 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. See our User Agreement and Privacy Policy. 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 … PPT on GST_ Prepared & Presented by TOP GST EXPERTS _ click Link to download. 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 Students of finance, 2011 . 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 - Hence, the present taxable events of manufacture, for central excise, and for sale of goods for State VAT, will have no relevance. GST will simplify indirect taxation, reduce complex-ities, and remove the cascading effect. 3. 525 and GST rate is 5%. You can change your ad preferences anytime. It is the end consumer who will bear only the GST charged by the 2009 . Learn word supply and unlearn sales. Computer Accounting using. GST is a single tax on the supply of goods and services, right from the manufacturer to the consumer. Clipping is a handy way to collect important slides you want to go back to later. Chapter 2: GST basics ... – A free PowerPoint PPT presentation (displayed as a Flash slide show) on PowerShow.com - id: 1570cd-ZDc1Z View this festivals of india powerpoint presentation slides and know more about these festivals. Rule 5(2) provides that every assessee, at the time of filing of his first See our User Agreement and Privacy Policy. PPT on GST Audit by CA Chitresh Gupta. This ebook will help you understand the basics of GST, important terminologies and concepts, and how this might affect your 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. Slideshare uses cookies to improve functionality and performance, and to provide you with relevant advertising. We use your LinkedIn profile and activity data to personalize ads and to show you more relevant ads. This should cover the basics about GST. The knowledge about the basic structure is a very important aspect of doing business in India. 20 lac (Rs. Experts believe that it will have a huge impact on businesses both big and small, and change the way the economy functions. 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. The implementation of the GST got overwhelming support from the industry. We should be now ready for GST to get maximum benefit from it. Amendment) Bill introduced and subsequently lapsed . 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 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) If you continue browsing the site, you agree to the use of cookies on this website. It is an indirect tax introduced in India from 1st July 2017. GST Law has replaced many indirect tax laws that previously existed 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. Central Taxes • Central Excise duty Looks like you’ve clipped this slide to already. GST will simplify indirect taxation, reduce complexities, and remove the cascading effect. 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. 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. Now customize the name of a clipboard to store your clips. GST law in India is a comprehensive, multi-stage, destination-based tax that is levied on every value addition. Slideshare uses cookies to improve functionality and performance, and to provide you with relevant advertising. 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. If you continue browsing the site, you agree to the use of cookies on this website. Latest update (06-Apr-2017): Rajyasabha passes GST bill. Diagrammatic representation and text shorten and make exemptions. It is crucial for all businesses to understand the implications of GST on their brands. 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 ITC PPT – Input Tax Credit under GST GST ITC PPT GST ITC PPT : Input Tax Credit (ITC) is the backbone of the GST regime. GST 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. The first PPT contents are Introduction: GST A Game Changer, Benefits and Salient Features of GST, IGST Mechanism, Registration and Returns, Role of Technology. This PPT on GST Audit consists of methods, definitions, rules, acts and every aspect related to the GST audit. 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 … What is Audit? After introduction of GST, all the traders including manufacturer will be paying both the types of taxes i.e. Different types of festivals celebrates in india eg:diwali,holi,raksha bandhan,eid,lohri and more. I am summarizing the basic concept of GST law to help general business owners a basic understanding about the upcoming tax structure of India. There are almost 19 types of festivals celebrated in India so, we can called india as "country of festivals". 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 … The Journey to GST . If you continue browsing the site, you agree to the use of cookies on this website. MYOB Business Software 8e. It is a value-added tax levied on the manufacture, sale, and consumption of goods and services. You can change your ad preferences anytime. The first financial period of the GST is over and now its time for audit under GST. The Goods and Service Tax Act was passed in the Parliament on 29th March 2017. To which vendors your client should bargain for cost reduction. GST Council - Decisions (1/2) Threshold limit for exemption to be Rs. What is GST? 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 … 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 GST is not just a tax reform but much more than that. • A constitutional body, GST … WHAT IS GST ? GST PPT - Presentations on Goods & Service Tax. 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. See our Privacy Policy and User Agreement for details. By Hirak Parmar. 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. GOODS & SERVICE TAX (GST) IS A SINGLE COMPREHENSIVE VALUE ADDED … Goods & Services Tax Law in India is a comprehensive, multi-stage, destination-based tax that will be levied on every value addition. You should cover what will be the impact of GST on business. BASICs OF GST (Chapter 1) Goods and Service Tax (GST) is applicable in India from 1st July 2017. We use your LinkedIn profile and activity data to personalize ads and to show you more relevant ads. GST Service tax records: 1. CGST and SGST. It will change the way businesses are done. PPT on GST_ Prepared & Presented by TOP GST EXPERTS. 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 . In simple words, GST is an indirect tax levied on the supply of goods and services. GST - The Goods and Services Tax - is the mother of all tax reforms in India. PPT slides t/a Computer Accounting using MYOB Business ... Chapter 2: GST Basics. GST is an Indirect Tax which has replaced many Indirect Taxes in India. Goods and Services Tax (GST) is an indirect tax (or consumption tax) used in India on the supply of goods and services. 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. Tax Briefing GST Basics. Biggest Tax Reform Since Independence….. Slideshare uses cookies to improve functionality and performance, and to provide you with relevant advertising. Now, the state assemblies would consider and pass their respective State GST (SGST) law. Looks like you’ve clipped this slide to already. GST is nothing but a value added tax on goods & services combined. Slideshare uses cookies to improve functionality and performance, and to provide you with relevant advertising. CA Chitresh Gupta has explained the basic concepts of audit under GST. Now customize the name of a clipboard to store your clips. It is a comprehensive, multistage, destination-based tax: comprehensive because it has subsumed almost all the indirect taxes except a few state taxes. (Goods and Services Tax) Update PPT on GST (As on 01st January 2018) 2 This presentation is for education purposes only and holds no legal validity . If you continue browsing the site, you agree to the use of cookies on this website. 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 … Impact on Cost? First Discussion Paper was released by the Empowered Committee . An overview on the biggest tax reform since Independence. The full form of GST is Goods and Service Tax. 1. GST is going to impact each one of us in one way or other. See our Privacy Policy and User Agreement for details. Constitution (115. th. GST Overview - Know about Goods and Service Tax in India, No public clipboards found for this slide, Senior Accounts Executive at GRAMALAYA TIRUCHIRAPPALLI. Updated on Jan 05, 2021 - 04:45:14 PM. 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. festivals of india PowerPoint Presentation. 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