1. GST Goods and Services Tax
An overview

2. What is GST?
GST stands for “Goods and Services Tax”, and is a comprehensive indirect tax levy on manufacture, sale and consumption of goods as well as services at the national level.
The main benefit of the GST is to facilitate a uniform tax levied on goods and services across the country.
Seamless Input Tax Credit is the defining feature of GST
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3. Current scenario – Indirect Taxes
Coverage
Current Tax Structure
Taxes
Point of Levy
Authorities
Returns
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4. Coverage
Trader
Manufacturer
Service Provider
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5. Taxes
Direct Tax
Indirect Tax
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6. Taxes - Indirect Tax Central Taxes State Taxes
Central Excise Duty - On Manufactured Goods
Value Added tax or VAT - on sale of goods within the state
Duties of Excise - Medicinal and Toilet Preparations
Central Sales Tax or CST - on sale of goods in interstate
Additional Excise Duty - Goods of Special Importance
Luxury Tax
Additional Duties of Excise - Textile and Textile Products
Entry Tax
Additional Duties of Customs - CVD on Imports
Entertainment Tax
Special Additional Duty of Customs - SAD
Taxes on lottery, betting and gambling
Service Tax
Purchase Tax
All Cess - Swach Bharath, Krishi Kalyan etc
Taxes on advertisements
Relyon Softech Ltd.,

7. Point of Levy For Goods Manufacturers at the time of removal of goods
For Importers at the time of importation of goods
For Traders at the time of sale of goods
For Service Providers at the time of provision of service
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8. Authorities CBEC - Central Board of Excise and Customs
Commercial Taxes Department
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9. Returns Central Excise Returns Service Tax Returns VAT Returns
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10. GST Again
GST stands for “Goods and Services Tax”, and is a comprehensive indirect tax levy on manufacture, sale and consumption of goods as well as services at the national level.
Relyon Softech Ltd.,

11. Structure of GST CGST Central GST SGST State GST IGST Integrated GST
A dual GST is proposed where both Central and State Government will administer GST
CGST Central GST
Will be levied by the Centre on Intra State Supply of Goods/Service (Revenue from CGST will go to Centre)
SGST State GST
Will be levied by the State on Intra State Supply of Goods/Service (Revenue from SGST will go the State )
IGST Integrated GST
Will be levied by the Centre on inter State Supply of Goods/Service (Revenue from ISGST will go to the State where the goods are consumed)
Relyon Softech Ltd.,

12. CGST Central Taxes Additional Duties of Customs Additional Excise Duty
Additional Duties of Excise
CGST
Special Additional Duty of Customs
Central Excise Duty
Duties of Excise
Service Tax
All Cess
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13. SGST State Taxes Value Added tax or VAT Purchase Tax
Taxes on lottery, betting and gambling
SGST
Taxes on advertisements
Entry Tax
Luxury Tax
Entertainment Tax
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14. Central Sales Tax or CST - on sale of goods in interstate
IGST
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15. Paradigm change in point of levy
Point of Levy/Taxable Event
Supply of goods and/or Services will the taxable event
Implications
Stock Transfer from one branch to another of same entity was tax free under VAT. Now, taxable
Consignment Transfer attracts GST
Barter, lease, rental or disposal
Exchange of goods
Certain supplies without consideration
Imports
Paradigm change in point of levy
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16. Who is liable for GST? Exempt Person
A person who supplies goods and/or services with a turnover in excess of Rs. 20 Lakhs
For North-eastern and other smaller States - A person who supplies goods and/or services with a turnover in excess of Rs. 10 Lakhs
Persons having upto Rs.50 lakhs turnover, can opt for Composition levy
Registered Dealer above Threshold limit
Branches
Within same state
Multi state Registration
Composition
Exempt Person
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17. Commodities not covered by GST
Alcohol for human consumption
Petroleum Products
Electricity
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18. Probalbe Rates Structure under GST
Exempt
Standard Rate
De-merit Rate
Special Rate for Precious Goods
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19. Valuation
The value of taxable goods/supply will normally be the ‘transaction value’ which is the actual price paid or payable
It is the same value for both CGST, SGST and IGST
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20. Tax Calculation VAT vs GST
Under Central Excise and VAT
Under GST
Sale bill of a Refrigerator Manufacturer (Within the State)
Sale bill of a Refrigerator Manufacturer (Sale Within the State)
Item
Qty
Rate
Value
Refrigerator 10
5500
Cenvat
15%
Cess 1%
82.50
VAT
Total
Item
Qty
Rate
Value
Refrigerator 10
5500
CGST
10%
SGST
Total
Relyon Softech Ltd.,

21. Tax Calculation VAT vs GST
Under Central Excise and CST
Under GST
Sale bill of a Refrigerator Manufacturer (sale outside the State)
Sale bill of a Refrigerator Manufacturer (sale outside the State)
Item
Qty
Rate
Value
Refrigerator 10
5500
Cenvat
15%
Cess 1%
82.50
CST 2%
Total
Item
Qty
Rate
Value
Refrigerator 10
5500
IGST
20%
Total
Relyon Softech Ltd.,

22. Tax Calculation VAT vs GST
Under Service Tax
Under GST
Sale bill of a Service Provider
Sale bill of a Service Provider (within the State)
Item
Value
Consultancy
Cenvat
15%
Cess 1%
150.00
Total
Item
Value
Consultancy 10
CGST
10%
SGST
Total
Relyon Softech Ltd.,

23. Sale bill of a Service Provider (outside the State)
Tax Calculation VAT vs GST
Under GST
Sale bill of a Service Provider (outside the State)
Item
Value
Consultancy
IGST
20%
Total
Relyon Softech Ltd.,

24. Tax Calculation VAT vs GST
Under Central Excise and VAT
Under GST
Sale bill of a Trader (Within the State)
Sale bill of a Trader (Within the State)
Item
Qty
Rate
Value
Refrigerator 10
7500
VAT
15%
Total
Item
Qty
Rate
Value
Refrigerator 10
6500
CGST
10%
SGST
Total
Relyon Softech Ltd.,

25. Sale bill of a Trader (Within the State)
Tax Calculation VAT vs GST
Under GST
Sale bill of a Trader (Within the State)
Item
Qty
Rate
Value
Refrigerator 10
6500
IGST
20%
Total
Relyon Softech Ltd.,

26. ITC or Input Tax Credit What is ITC?
Provision to take credit of taxes paid on inputs (on purchase/receipt of goods/services) and utilising the same for payment of output tax (on sale/supply of goods/service)
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27. Pre-requisite for taking credit
Registered under GST
Possession of Invoice
Receipt of Goods / Services
Tax charged on the supply should have been paid to the Government
Return should be furnished
Time limit for taking ITC – ITC Cannot be taken beyond September of the following FY
Relyon Softech Ltd.,

28. Negative List Motor Vehicles (except in certain cases)
Goods and services such as insurance, outdoor catering, etc. primarily used for personal consumption of employees
Goods and services in relation to the execution of works contract when such contract results in creation of immovable property
Goods and services on which Composition Levy is charged
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29. Reverse Charge Mechanism
ITC Matching concept
Matching of details of Inward supply with the corresponding outward supply (of the taxpayer’s supplier) is ITC Matching concept.
This is done based on the GST returns filed.
Reverse Charge Mechanism
Provision where the recipient of the goods/service has to pay the GST is called Reverse Charge Mechanism.
List of Goods/Services will be notified.
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30. Tax payable to the government
Set-off of ITC
Tax payable to the government
CGST
SGST
IGST
Credit permitted (in the following order)
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31. Invoice under GST Tax Invoice Bill of Supply
To be issued by a regular GST Dealer
Bill of Supply
To be issued by a Composition Dealer
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32. Types of Tax Invoice: Regular Revised
Supplementary/Debit Note/Credit Note
Tax Invoice Special Cases - ISD
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33. Contents of a Tax Invoice
Name, Address and GSTIN of the supplier
A consecutive serial number containing only alphabets and/or numerals, unique for a financial year
Date of its issue
Name, Address and GSTIN/ Unique ID Number, if registered, of the recipient
Name and address of the recipient and the address of delivery, along with the name of State and its code, if such recipient is unregistered and where the taxable value of supply is fifty thousand rupees or more
HSN code of goods or Accounting Code of services
Description of goods or services
Relyon Softech Ltd.,

34. Contents of a Tax Invoice
Quantity in case of goods and unit or Unique Quantity Code thereof
Total value of goods or services
Taxable value of goods or services taking into account discount or abatement, if any
Rate of tax (CGST, SGST or IGST)
Amount of tax charged in respect of taxable goods or services (CGST, SGST or IGST);
Place of supply along with the name of State, in case of a supply in the course of inter-State trade or commerce
Place of delivery where the same is different from the place of supply
Relyon Softech Ltd.,

35. Contents of a Tax Invoice
Whether the tax is payable on reverse charge
The word “Revised Invoice” or “Supplementary Invoice”, as the case may be, indicated prominently, where applicable along with the date and invoice number of the original invoice
Signature or digital signature of the supplier or his authorized representative
Relyon Softech Ltd.,

36. Distribution/Manner of issuing
Tax Invoices for Supply of Goods to be prepared in 3 Sets with Captions
ORIGINAL FOR RECEPIENT
DUPLICATE FOR TRANSPORTER
TRIPLICATE FOR SUPPLIER
Tax Invoices for Supply of Service to be prepared in 2 Sets with Captions
ORIGINAL FOR RECEPIENT
TRIPLICATE FOR SUPPLIER
Tax Invoice for Exports
Endorsement and additional details
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37. Electronic Ref No
Requirement to obtain Electronic Reference No for an Invoice – similar to e-Sugam
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38. Supplementary tax invoice & Credit or debit notes
A supplementary tax invoice under section 23 and a credit or debit note under section 24 shall contain the following details
Name, address and GSTIN of the supplier
Nature of the document
A consecutive serial number containing only alphabets and/or numerals, unique for a financial year
Date of issue of the document
Name, address and GSTIN/ Unique ID Number, if registered, of the recipient
Relyon Softech Ltd.,

39. Supplementary tax invoice & Credit or debit notes
Cont..
Supplementary tax invoice & Credit or debit notes
Name and address of the recipient and the address of delivery, along with the name of State and its code, if such recipient is unregistered
Serial number and date of the corresponding tax invoice or, as the case may be, bill of supply
Taxable value of goods or services, rate of tax and the amount of the tax credited or, as the case may be, debited to the recipient
Signature or digital signature of the supplier or his authorized representative
Relyon Softech Ltd.,

40. Bill of Supply To be issued by a Composition Dealer Contents
Name, address and GSTIN of the supplier
A consecutive serial number containing only alphabets and/or numerals, unique for a financial year
Date of its issue
Name, address and GSTIN/ Unique ID Number, if registered, of the recipient
HSN Code of goods or Accounting Code for services
Description of goods or services
Relyon Softech Ltd.,

41. Cont..
Bill of Supply
Value of goods or services taking into account discount or abatement, if any
Signature or digital signature of the supplier or his authorized representative
Need not issue a bill of supply if the value of the goods or services supplied is less than one hundred rupees except where the recipient of the goods or services does not require such bill. Consolidated bill of supply shall be prepared by the registered taxable person at the close of each day in respect of all such supplies where the bill of supply has not been
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42. Payment of Tax Payment of Tax is after set off ITC
Payment to be made online
Specific Formats
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43. Returns under GST Sl.no Return Nature Periodicity Remarks 1 GSTR 1
Details of outward supplies
Monthly by 10th
Full Data from user 2
GSTR 2
Details of inward supplies
Monthly by 15th
Major Data will be auto-populated 3
GST 3
Monthly return
Monthly by 20th 4
GSTR 4
Quarterly Return for compounding Taxable persons
18th of the month succeeding Quarter
Many data will be auto-populated
Relyon Softech Ltd.,

44. Returns under GST Sl.no Return Nature Periodicity 5 GSTR 5
Cont..
Returns under GST
Sl.no
Return
Nature
Periodicity 5
GSTR 5
Return for Non-Resident foreign taxable person
20th of the Month succeeding the tax period and 7 days from expiry of registration 6
GSTR 6
ISD return
13th of the Month succeeding the tax period 7
GSTR 9
Annual Return 8
GSTR 9A
Simplified Annual Return for Compounding Persons 9
GSTR 11
Details of Inward supply be a person having UIN
28th of the month following the month for which statement is filed
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45. Other Returns for TRP etc
Cont..
Returns under GST
Sl.no
Return
Nature
Periodicity 10
GSTR 1A, 2A, 3A, 4A, 6A, 7A, 9B etc, 11
Other Returns for TRP etc
Relyon Softech Ltd.,

46. TDS under GST
As per section 37, this provision is meant for Government and Government undertakings and other notified entities making contractual payments in excess of Rs.10 Lakhs to suppliers.
While making such payment, the concerned Government/authority shall deduct 1% of the total payable amount and remit it into the appropriate GST account.
Relyon Softech Ltd.,

47. TCS under GST
This provision is applicable only for E-Commerce Operator under section 43C of MGL.
Every E-Commerce Operator needs to withhold a percentage (to be notified later on the recommendation of the GST Council) of the amount which is due from him to the supplier at the time of making actual payment to the supplier.
Such withheld amount is to be deposited by such E- Commerce Operator to the appropriate GST account by the 10th of the next month.
The amount deposited as TCS will be reflected in the electronic cash ledger of the supplier.
Relyon Softech Ltd.,

48. E Ledgers
Once a taxpayer is registered on Common Portal (GSTN), 2 e-ledgers (Cash & Input Tax Credit) and an electronic tax liability register will be automatically opened and displayed on his dashboard at all times.
Cash Ledger
The cash ledger will reflect all deposits made in cash, and TDS/TCS made on account of the taxpayer.
The information will be reflected on real time basis.
This ledger can be used for making any payment on account of GST
Relyon Softech Ltd.,

49. E Ledgers Liability Ledger
Cont..
E Ledgers
Liability Ledger
Tax Liability Register will reflect the total tax liability of a taxpayer (after netting) for the particular month.
ITC Ledger
Input Tax Credit as self-assessed in monthly returns will be reflected in the ITC Ledger.
The credit in this ledger can be used to make payment of TAX ONLY and not other amounts such as interest, penalty, fees etc.
Relyon Softech Ltd.,

50. GSTN - Goods and Service Tax Network
Non-Profit Company Central and State Government, Banks and Private Entities
GSTN will render the following services through the Common GST Portal:
Registration (including existing taxpayer master migration and issue of PAN based registration number)
Payment management including payment gateways and integration with banking systems
Return filing and processing
Taxpayer management, including account management, notifications, information, and status tracking
Relyon Softech Ltd.,

51. GSTN - Goods and Service Tax Network
Cont..
GSTN - Goods and Service Tax Network
Tax authority account and ledger Management
Computation of settlement (including IGST settlement) between the Centre and States; Clearing house for IGST
Processing and reconciliation of GST on import and integration with EDI systems of Customs
MIS including need based information and business intelligence
Maintenance of interfaces between the Common GST Portal and tax administration systems
Provide training to stakeholders
Provide Analytics and Business Intelligence to tax authorities
Carry out research, study best practices and provide training to the stakeholders.
Relyon Softech Ltd.,

52. Basic features of GST common portal
The GST portal shall be accessible over Internet (by Taxpayers and their CAs/Tax Advocates etc.) and Intranet by Tax Officials etc. The portal shall be one single common portal for all GST related services e.g.
Tax payer registration (New, surrender, cancellation, etc.)
Invoices upload, auto-drafting of Purchase register of buyer Periodic GST Returns filing
Tax payment including integration with agency banks
ITC and Cash Ledger and Liability Register
MIS reporting for tax payers, tax officials and other stakeholders
BI/Analytics for Tax officials
Relyon Softech Ltd.,

53. GSP - GST Suvidha Providers
Taxpayers will interface with GST System via GST system portal or via GSP ecosystem provided by way of applications for activities such as Registration, Tax payments, Returns filing and other information exchange with GST core system. GSTN Provides APIs and The GSPs will become the user agencies of the GST system APIs and build applications and web portals as alternate interface for the taxpayers
The GSP developed Apps will connect with the GST system via secure GST system APIs. Some of the functions of GSP are:
Development of various apps / interfaces for taxpayer, TRPs of GST system
Providing other value added services to the taxpayers
Relyon Softech Ltd.,

54. Thank you
Relyon Softech Ltd.,