Goods & Services

Tax Bill
 What is GST?
One indirect tax for whole nation

Based on Destination Principle

Will replace existing taxes like CENVET, Sales Tax,

Excise duty etc
Levied at all points of Supply Chain with Credit
Allowance
WORLD WIDE GST
 TIMELINE OF GST IN INDIA
Budget 2006-07
April 2008
November 2009
March 22, 2011
December 19, 2014
May 6, 2015
May 12, 2015
July 22, 2015
June 1, April 2017
 Components
Central GST (CGST) Levied by Centre

State GST (SGST) Levied by State

Integrated GST (IGST) Levied by Central

Government on Interstate supply of Good and
Services
 How is GST different?
Subsumes all Indirect Taxes

Only the final customer is taxed

Avoids Cascading of Taxes

Production Costs are reduced

 List of Taxes subsumed
Central Level Taxes
Service Tax

Central Excise Duty

Countervailing Duty

Additional Excise Duty

Special Additional Duty of Customs

 List of Taxes subsumed
State Level Taxes
Luxury Tax

Purchase tax
Taxes on Lottery

Entertainment Tax

Octroi and Entry Tax

Betting and Gambling

State Value Added Tax / Sales Tax

 Positive Impact of the GST
Wider tax base

Rationalization of tax structure

Elimination of multiplicity of taxes

Automation of compliance procedures

Harmonization of center and State tax

administrations
 Negative Impact of the GST
The Tax on retails will almost get doubled
Tax on imported Goods will be around 6%

After GST, Tax to shoot up to 20%

Government Control on every system
 Impact of GST on economy
Reduce Tax burden and foster growth
Transparency in the system on how much taxes are
being charged and on what base
Add to government revenues by widening tax base
Removes custom duties applicable on exports
 What Will GST do to me?
Central and State Government

Consumer

Business and Industry

Service Providers
Central and State Government
Simple and easy administration

Better control on leakages

Higher revenue efficiency

Consumers
Single and transparent tax proportionate to
the value of goods and services
Relief in overall tax burden
Business and Industry
Easy Compliance

Uniformity of tax rates and structures

Removal of cascading

Improved competitiveness

Gain to manufacturers and exporters

Service Providers
The service sector at present is taxed at the rate of 15% including
Swatch Bharat and Krishi Kalyan Cess (KKC). The GST rate is
likely to be higher widely speculated at 15-20%.

Presently there is no input tax credit from VAT and Sales Tax paid
while creating infrastructure or while providing service where as
now under a unified tax regime, Service providers are able to claim
those tax credits resulting in lowering the tax.

Destination based tax where Service Tax is charged at the place of

providing service

End to the double taxation of services like software which are

treated as goods and services both.
 Exemptions to the GST
Alcohol

Petroleum

Tobacco

Small Taxpayer
 Hurdles in implementation
of GST
Dispute between Centre and State over Tax sharing

Highly sophisticated infrastructure required

Issue of taxing e-commerce is to be appropriately

addressed and integrated
Governments solution
to GST

GSP GST Suvidha Provider

34 GSP Service Providers
List of 34 qualified GSPs
Alankit limited
Bodhtree Consulting limited
Botree Software International Pvt. Ltd.
Central Depository Services (India)
Limited
Computer Age management services
Private Limited
Cygnet Infotech Private Ltd
Deloitte Touche Tohmatsu India LLP
Ernst & Young LLP
Excellon Software Pvt. Ltd.
GOFRUGAL TECHNOLOGIES PRIVATE
LIMITED
Hazel Mercantile Limited
IRIS BUSINESS SERVICES LIMITED
Karvy Data Management Services
Limited
Mastek Limited
Masters India Private Limited
MothersonSumi infotech & Designs Ltd.
NSDL e-Governance Infrastructure
Limited
RAMCO SYSTEMS LIMITED
Reliance Corporate IT Park Limited
Seshaasai Business Forms Private Limited
Shalibhadra Finance Limited
SISL Infotech Pvt. Ltd.
Skill Lotto Solutions Pvt. Ltd.
Spice Digital Limited
Sugal & Damani Utility Services Private
Limited
Tally solutions Private Limited
TATA consultancy services Limited
Taxmann Publication Pvt. Ltd.
Tera Software Limited
Trust Systems & Software (I) Pvt. Ltd.
Vayana Private Limited
Velocis Systems Pvt. Ltd.
Vertex Customer Management India
Private Limited
WeP Solutions Limited
 Excellon Softwares expertise
in GSP
Robust Reliable Responsive

Highly reliable, easy to use and scalable technology platform

for smooth transition of businesses to GST
Recognised by the Government as the GST Suvidha Provider

Envisaged to provide innovative and convenient GST

Systems for end to end GST compliance
 Features of proposed payment
procedures under GST
Electronic payment process- no generation of paper at any stage

Single point interface for challan generation GSTN

Ease of payment- can be made through online banking, Credit

card/ Debit Card, NEFT/RTGS, and through cheque/cash at the
bank
Common challan with auto population feature

Use of single challan and single payment instrument

Common set of authorized banks

Common accounting codes

Conclusion
Game Changing Reform
Common Indian market
Far-reaching impact
Significant macro economic impact
Boost to government revenue
THANK YOU