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Rajesh Sharma
8th. December, 2016
Contents
GST – Overview - history
Tax Configuration & Computation Configure Tax and Pricing procedures ; Tax
computation
Digital Platform
Customers
Centre GST
State - GST
GSTIN-GST Identification number
Single registration for CGST, SGST and IGST
Individual registration to be obtained in each state of business
GST – Unique Number establishment
PAN based registration number – Up to 15 characters in length
2 - Digit represents
State
Next 10 - Digit
represents PAN
Number
The four GST slabs have been set at 5%, 12%, 18% and 28% for different items or
services.
The peak rate of 28% will apply to luxury goods. Luxury cars, tobacco products
and aerated drinks will attract an additional cess on top of the highest tax rate.
The additional cess and a clean energy cess will create a revenue pool which will
be used to compensate states for any loss of revenue during the first five years of
the implementation of GST, Mr Jaitley said.
Intra-state transactions
CGST and SGST applicable
Inter-state/Import transactions
– IGST applicable
Export Transactions
– Zero rated
Region level rate variations may exist
New condition types/access sequences and account determination
Tax Configuration and Computation- Proposed Solution
• Sales Processes
• Procurement Processes
• Stock Transfers
• Subcontracting
• Others
Sales - Proposed Solution
Sales Order
Sales - Proposed Solution
Sales Order
Sales - Proposed Solution
1. Liberal Credits
2. Credits on all bills
3. Uploads Necessary to claim credits
GST – Coverage - Subsumed
Subsumed:
Excise Duty
CVD, SAD
Service Tax
VAT
CST
Entry Tax
Octroi
LBT
GST – Coverage - Excluded
Exculded:
Basic Customs Duty
Entertainment Tax
Taxes at Municipal Level
Electricity Duty
GST – Issues
Thank You
GST – Issues