sensitization program
Session
1
Sessions
3, 5
Sessions
6, 7, 8
Constitution
al Powers
Legal
Framework
GST
Administrati
ve
Preparednes
s
This is
where
we are!
IT
Framework
Session
4
GST
Taxation of
Services
Session 2
Overview of GST
Session 1
Contents
What is GST?
Why do we need GST?
Brief Background and Chronology
The Road to GST
Amendment of Constitution
Salient Features and present status
Legal framework
IT framework
What is gst?
Single tax on goods and services
Simultaneous powers to States
and Centre to levy and collect tax
throughout the value chain
Tax is on value addition at each
stage of transaction: from raw
material supplier to final consumer
Input Tax Credit Tax already paid
at one stage is deducted at the
next stage
August 2013
September
2013
March 2014
July 2014
December,
2014
May, 2015
Formula:
WT = WC + WS
WC = 1/3 = 33.33%
WS = (WST*SF)/SP
Legal Framework
Joint Committee on Model GST
Laws: Report to be submitted
shortly
SGST law would be enacted by
the States, and CGST & IGST
laws would be passed by the
Centre based on
recommendations of GST Council
IT Framework
GSTN incorporated in March 2013 as
private ltd. company
SPV for providing shared IT
infrastructure and services to Central
and State Governments, tax payers,
and other stake holders
Envisaged as a common GST portal
Taxation authorities to develop their
own backend systems
Thank you!