1. CONCEPT OF GST
The term GST stands for “Goods and Service tax “, and it is a comprehensive indirect tax levy on manufacture, sale and consumption of Goods as well as services at national level.
GST may be defined as:
Tax on supply of goods and services
Leviable on value addition at each point of sale of goods and services
Where the seller of goods and provider of services may claim credit of input tax paid at previous stages
Final consumer will bear the burden of GST

2. HISTORY OF GST
Feb, 2006: Announcement for Introduction of GST by Finance Minister (Mr. P. Chidambaram).
April, 2008 : Empowered Committee (EC) finalizes view on GST structure .
November, 2009: First discussion paper on GST was released by Empowered Committee.
Feb,2011: IT Strategy for GST was released by Mr. Nandan Nilekani.
March, 2011: The constitution 115th amendment bill introduced in Loksabha for levy of GST on all goods or services except for the specified goods.
May, 2015: The 122th Constitutional Amendment Bill (CAB) was passed in Lok Sabha, which was introduced in Lok Sabha in December., 2014.
14 June, 2016: Draft GST law made available

3. 3 August, 2016: GST Bill was passed in Rajya Sabha with certain amendments which was introduced in 6th May, 2015
August, 2016: The Bill was passed by Lok sabha (as the bill passed in Rajya sabha was with certain amendments.)
12 September, 2016: GST Council (GSTC) is notified
26 November, 2016: Revised GST draft laws was placed in public domain by CBEC
29 March, 2016: Passage of four GST bills in Lok Sabha
6 April, 2017: Passage of four GST bills in Rajya Sabha
13 April, 2017: President gives assent to four GST bills.

4. Features of GST GST Act extends to whole of India.
GST is destination based and consumption based tax.
Indirect taxes subsumed under GST except custom duty.
GST acts as uniformity in Provisions and Tax rate.

5. Tax replaced
A single GST replaced several existing taxes and levies which includes the following:
Central Excise Duty
Commercial Tax
Value Added Tax (VAT)
Central sales Tax
Introit
Octroi
Entertainment Tax
Entry Tax
Service Tax
Surcharges
Luxury Tax

6. GST BENEFITS For trade Reduction in multiplicity of taxes.
Mitigation of cascading/ double taxation.
More efficient neutralization of taxes especially for export.
Development of common national market.
Simpler tax regime.
Fewer rate and exemptions.
Distinction between goods and services no longer required.

7. For consumers
Simpler Tax system
Reduction in prices of goods and services due to elimination of cascading
Uniform prices throughout the country
Increase in employment opportunities
Transparency in taxation system

8. Registration- Threshold Limit
North East India NE, Uttarkhand and J&K
Aggregate Turnover exceeds
Rs. 10 Lakhs for Registration
Rest of India
Rs. 20 lakhs for Registration
Composition levy
Aggregate Turnover does not exceeds
Rs. 75 lakhs for registration

9. Components of GST CGST stands central GST
This is applicable on within state supply
Tax collected will be shared to central
SGST
SGST stands for state GST
Tax collected will be shared to state
IGST
IGST Stands for Integrated GST
This applicable on Interstate and import transactions
Tax collected shared between central and state

10. How to register for GST
Login to the GST online portal. ( )
Fill up the form- Part A (PAN, Mobile and ).
The portal verifies your details by OPT/ .
The application Reference no. is sent to mobile/ id .
Access and fill in the Form Part-B using the received Number
Upload the required document as per your business types.
The application will verifying by the authorized within 3 days
After the approves of GST application then the authorized will issued the certificate of Registration.

11. Mandatory Registration
If threshold limit crosses: The state/UT has following limit category
General Category: Aggregate Turnover exceeds Rs. 20lakhs
Special Category: Aggregate Turnover exceeds Rs.10 lakhs
Taxable person carrying on interstate supply
Business liable to pay tax under reverse charge
Input service Distribution
Sellers on e- commerce platform
Casual and Non-resident Taxable Persons
Persons responsible to deduct TDS
Aggregator supplying service under his brand name
Transfer of business or succession of business
Transfer on Amalgamation or demerger
Migration of person already Registered in the present law

12. Amending your Registration details
Any change in details furnished at time of registration must submitted within 15 days.
In Form GST REG-13.
Specific change in Form GST REG-11 relating to the name, partner, managing committee details of business.
An approval order by the officer is sent in Form GST REG-14 to amend the details.
Change in business details that result in change of PAN number of the registered tax payer.
A fresh registration in Form GST REG-01.

13. When can GST registration get cancelled
The business has been discontinued.
The business has been transferred fully by amalgamated, demerged.
There is any change in the constitution of the business.
The taxable person is no longer liable to be registered.
The registered taxable person has contravened provisions of GST.
Any registration has been obtained by fraud the proper officer may cancel the registration with the retrospective effect.

14. Who can cancel GST registration
Cancellation of GST registration can be done by :
A proper officer
Request by the concerned person himself
On all application filed by his legal heirs, in case of death of such person
However, application for cancellation of registration by the concerned person who has registered voluntarily will be only after one year from the date of registration

15. GST Mechanism
Intra State
Inter State
CGST
IGST
SGST

16. Input tax credit concepts
Input means- section 2(54):
Any goods(subject to certain exception) other than capital goods
Used or intended to be used by supplier
For making an outward supply in the course of business activity
Input service means – section 2 (55):
Any service (subject to certain exception)
For making an outward supply in the course of business activity.

17. Manner of issuing tax invoice
Supply of taxable goods
Original copy “Original for Recipient”
Duplicate copy “Duplicate for Transporter”
Triplicate copy “Triplicate for Supplier”
Supply of taxable service
Original copy “ Original for Recipient”
Duplicate copy “Duplicate for Supplier”

18. Condition for claiming input tax credit
Input tax credit is available only against “Tax invoice” issued by the registered dealer.
Tax invoice shall contain the following details :
Consecutive serial number
Date of issue
Name and address of the tax payer with TIN number
Buyer name and address with TIN number
Description of the goods
Quantity or volume of the goods
Value of the goods
Rate and amount of tax paid

19. Time limit of claiming ITC
A taxable person shall not be entitled to take input tax credit in respect of
any invoice or debit note for supply of goods and service
After furnishing of the return for the month of September following the end of financial year to which such invoice pertains or
Furnishing of the relevant annual return,
whichever is earlier. [section 16(4)]
The reason for this restriction is that no change in return is permitted after September of next financial year. If the annual return is filed before September then no change can be made after filing of annual return.

20. Rate Slab of CGST, SGST and IGST
Rate structure
Exempt supplies : Nil-rate, zero percent supplies
Zero- Rated Supplies: Exports and supplies to SEZ
Supplies taxable at 5%
Supplies taxable at 12%
Supplies taxable at 18%
Supplies taxable at 28%