The full form of GST is Goods and Service Tax. First Discussion Paper was released by the Empowered Committee . It is the end consumer who will bear only the GST charged by the 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 … GST is nothing but a value added tax on goods & services combined. GST Service tax records: 1. GST Overview - Know about Goods and Service Tax in India, No public clipboards found for this slide, Senior Accounts Executive at GRAMALAYA TIRUCHIRAPPALLI. 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 … Impact on Cost? 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. • A constitutional body, GST … The first PPT contents are Introduction: GST A Game Changer, Benefits and Salient Features of GST, IGST Mechanism, Registration and Returns, Role of Technology. Private recreational pursuits or hobbies ... – A free PowerPoint PPT presentation (displayed as a Flash slide show) on PowerShow.com - id: e4e62-ZGU1Y What is GST? See our Privacy Policy and User Agreement for details. GST PPT - Presentations on Goods & Service Tax. Central Taxes • Central Excise duty 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 = 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. GOODS & SERVICE TAX (GST) IS A SINGLE COMPREHENSIVE VALUE ADDED … 2006 . 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. The implementation of the GST got overwhelming support from the industry. 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. GST - The Goods and Services Tax - is the mother of all tax reforms in India. GST will simplify indirect taxation, reduce complex-ities, and remove the cascading effect. PPT on GST Audit by CA Chitresh Gupta. 2011 . In simple words, GST is an indirect tax levied on the supply of goods and services. Learn word supply and unlearn sales. MYOB Business Software 8e. festivals of india PowerPoint Presentation. PPT on GST_ Prepared & Presented by TOP GST EXPERTS _ click Link to download. Computer Accounting using. It will change the way businesses are done. 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? It is crucial for all businesses to understand the implications of GST on their brands. 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 … 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 The main objective behind levying such a tax is to consolidate multiple indirect tax levies into … You can change your ad preferences anytime. You can change your ad preferences anytime. Clipping is a handy way to collect important slides you want to go back to later. Latest update (06-Apr-2017): Rajyasabha passes GST bill. GST is not just a tax reform but much more than that. 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 . 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. An overview on the biggest tax reform since Independence. Experts believe that it will have a huge impact on businesses both big and small, and change the way the economy functions. We should be now ready for GST to get maximum benefit from it. This PPT on GST Audit consists of methods, definitions, rules, acts and every aspect related to the GST audit. 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 Tax Briefing GST Basics. Looks like you’ve clipped this slide to already. You should cover what will be the impact of GST on business. GST Council - Decisions (1/2) Threshold limit for exemption to be Rs. 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 law in India is a comprehensive, multi-stage, destination-based tax that is levied on every value addition. If you continue browsing the site, you agree to the use of cookies on this website. To which vendors your client should bargain for cost reduction. Updated on Jan 05, 2021 - 04:45:14 PM. Slideshare uses cookies to improve functionality and performance, and to provide you with relevant advertising. Slideshare uses cookies to improve functionality and performance, and to provide you with relevant advertising. 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 knowledge about the basic structure is a very important aspect of doing business in India. 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. If you continue browsing the site, you agree to the use of cookies on this website. Since GST is a new law and crucial processes like return filing and invoicing have been changed, it is even … 1. 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 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. Different types of festivals celebrates in india eg:diwali,holi,raksha bandhan,eid,lohri and more. 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. - Hence, the present taxable events of manufacture, for central excise, and for sale of goods for State VAT, will have no relevance. WHAT IS GST ? Slideshare uses cookies to improve functionality and performance, and to provide you with relevant advertising. I am summarizing the basic concept of GST law to help general business owners a basic understanding about the upcoming tax structure of India. 2. As per me a good PPT presentation should cover at least following points. Significant features of proposed dual GST Model • Taxable Events in GST - The Federal and State GST will both be leviable on supply of goods and services. It is an indirect tax introduced in India from 1st July 2017. 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. CGST and SGST. This should cover the basics about GST. 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. Rule 5(2) provides that every assessee, at the time of filing of his first 20 lac (Rs. Clipping is a handy way to collect important slides you want to go back to later. After introduction of GST, all the traders including manufacturer will be paying both the types of taxes i.e. Constitution (115. th. And more to download replaced many indirect Taxes in India from 1st July 2017 GST is nothing but value. 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