PPT-GOODS AND SERVICES TAX REFORM TO CONSOLIDATE INDIRECT TAXATION

CA SANJEEV MALHOTRA FCA FCS ACMA LLB casanjeevmalhotragmailcom What is GST GST is 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 . UNION BUDGET – 2014-2015. Madhri. G. Advocate, . T.S.Gopalan. & Co.. ANDHRA CHAMBER. OF . COMMERCE. SOME FIGURES. TAX. REVENUES. Actual. 2012-2013. Budget . 2013-2014. Revised . 2014-2015. Budget. CONCEPTUAL FRAMEWORK. Framework:. Dissecting the “Charge”... The Elements... Person Liable . to Pay Tax. Definition of Service. Service means….. Service means. A Person. (Service Provider). Another Person. Purposes and . effects. Types . Differences. Conclusion. Definition. A fee . charges.  ("levied") by a . government .  on a . product,.  . income, . or . activity.. If tax is levied directly on . Transit. ion. al Precaution: Filing of last return under present indirect tax regime and filing of first return under GST regime. © Indirect Taxes Committee, ICAI. 1. Issue: Input Tax Credit (Ref: . -By KADA. GST – Goods And Service Tax . Act Under GST: . CGST Act, SGCT Act, IGST Act, UTIGST Act, Compensation act. It is a . destination based. tax on consumption of goods and services.. It is proposed to be levied at . The Institute of Chartered Accountants of India. Disclaimer and Copy right. This presentation has been prepared to provide a standard ‘user presentation’. The views expressed in this presentation are those of Speaker(s). The Institute of Chartered Accountants of India may not necessarily subscribe to the views expressed by the speaker(s).. The Institute of Chartered Accountants of India. Disclaimer and Copy right. This presentation has been prepared to provide a standard ‘user presentation’. The views expressed in this presentation are those of Speaker(s). The Institute of Chartered Accountants of India may not necessarily subscribe to the views expressed by the speaker(s).. Current Indirect Tax Regime. Central. Levy. State Levy. Service Tax. Sale Tax/VAT. Custom Duty-BCD CVD SAD. Entertainment. Tax\Luxury Tax. Excise Duty-BED Additional. excise duty. Entry Tax. Central Sale Tax. July. 10, 2014. © Economic Laws Practice 2014. Key issues Pre-Budget. 2. © Economic Laws Practice 2014. Definitive path and time lines for GST. Retrospective amendments. Adoption of DTC. Dealing with culture of Tax Terrorism. The Institute of Chartered Accountants of India. Disclaimer and Copy right. This presentation has been prepared to provide a standard ‘user presentation’. The views expressed in this presentation are those of Speaker(s). The Institute of Chartered Accountants of India may not necessarily subscribe to the views expressed by the speaker(s).. intra-Union trade of goods. COM(2018)329 of 25 May 2018. European Commission. TAXUD. 11 September 2018. Why is time for a definitive . VAT system. ?. The current system for B2B trade in force since 1993 is transitional in nature (Article 402 of the VAT Directive). Yussuf A. Idarus. Definition of Taxation. Oxford dictionary. : Contribution levied on persons, property, or business for the support of government.. Main Types of Taxes. Income Taxes- . Corporate tax, PAYE, Rental Income. Budget 2021. Key Indirect tax . Changes . Yogesh Gupta. B.Sc., ACS, LL.B.. Director- BSR & Co. LLP. GST – Key Initiatives. Reiterated the following measures taken towards simplifying the compliances:. By ; Birungyi Cephas Kagyenda. Managing Partner Birungyi, Barata & Associates. Digital assets defined . Definition:. An electronic record in which an individual has a right or interest. . -Does not include an underlying asset or liability...