Gst slc content

1. Goods and Services Tax

2. Agenda
Indirect Tax
In this presentation you will learn:
• What is GST?
• What you need to do to prepare for
GST?

3. What is GST?

4. 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. It
will be effective from 1st April, 2017*.
It would be a dual GST with the Centre and States simultaneously levying it on a common
tax base. Thus, every supply of goods/services will attract levy of:
*Subject to change depending on Government announcements
Integrated GST (imposed by
the Central Government)
being payable by the seller/
supplier on inter-state supply.
Central GST (to be imposed by
the Central Government) and
State GST (to be imposed by
the State Government) in case
of an intra-state sale.

5. Who Needs To Pay GST?
Every seller/supplier supplying goods
through the e-commerce operator would be
required to pay GST on the value of his
supplies. This tax is calculated based on
destination where goods or services are
consumed
The value of taxable goods/supply will
normally be the ‘transaction value’ which is
the actual price paid or payable.

6. How Is GST Applied In Different Scenarios?
Item Qty Rate Value
Refrigerator 10 6500 65,000.00
CGST 10% 6.500.00
Total 78.000.00
Item Qty Rate Value
Refrigerator 10 6500 65.000.00
IGST 20% 13.000.00
Total 78.000.00
For sale within same state (intra-state), both CGST and SGST are applicable. For sale
from one state to another state (inter-state), only IGST is applicable.
SGST 10% 6.500.00
78.000.00
78.000.00
Intra-State Inter-State

7. Tax Rates Under GST
Government has defined six tax rates for GST purpose.
Tax rate for a product is dependent on HSN code for that product.

8. HSN Code
 GST law requires each product to be classified to appropriate
HSN code. Tax rate applicable for a given HSN code will be used
in all tax computations.
 As a compliance requirement, HSN code has to be mandatorily
printed on the invoice and the tax computed in the invoice will
be basis the HSN code
HSN (Harmonized System Code) is a globally accepted nomenclature of
names and numbers to classify traded products.

9. Mandatory Information Requirements For
GST Invoices
Name, address and GSTIN of the seller/ supplier;
Date of issue;
Consecutive serial number of invoices;
HSN code of the goods sold;
Place where the goods are sold along with the name of
state (in case of inter-state sale of goods).
Every sale of goods under GST shall have a valid invoice with the
relevant details as mentioned below:
Additionally, it is pertinent to note that the goods when stock transferred from one warehouse
of a particular state to warehouse of another state shall be regarded as supply under GST
attracting IGST. Accordingly, the detailed invoice should be raised for such stock transfer.

10. Tax Collection at Source
Flipkart shall collect tax at source(TCS) at the following rates on the net taxable
value of goods sold on Flipkart by sellers :
As per GST law, every E-Commerce Operator needs to withhold 2% of the amount which
is due from him to the supplier at the time of making actual payment to the supplier.
Net taxable value of goods shall mean the aggregate value of taxable supplies of goods
made during any month by all registered taxable persons through the operator minus the
aggregate value of taxable supplies returned to the suppliers during said month.
 1% CGST + 1% SGST – In case of intra-state supplies
 2% IGST – In case of inter-state supplies

11. Input Tax Credit (ITC)
GST regulation allows sellers to take credit
of taxes paid on inputs (on purchase/receipt
of goods/services) and utilize the same for
payment of output tax (on sale/supply of
goods/service).
Please note that you can take input tax credit only if:
You are registered under GST
Taxes charged on input supplied are paid
to government
Input tax credit cannot be taken beyond September of the following Financial year.

12. How Is ITC Set Off?
While calculating taxes, sellers can take credit of input tax paid as per table below.
Tax payable to
the government CGST SGST IGST
Credit permitted
(in the following
order)
CGST
IGST
SGST
IGST
IGST
CGST
SGST

13. Tax Returns To Be Filed Under GST
Every seller is required to file their tax returns on GST portal as
tabulated below within the due dates specified:
Forms Description Due Date
Form GSTR-1 Details of outward supplies of taxable goods and/or services 10
th
of the following month
Form GSTR-2 Details of inward supplies of taxable goods and/or services 15
th
of the following month
claiming input tax credit
Form GSTR-3
Form GSTR-6
Form GSTR-9
Monthly return on the basis of finalization of details of
outward supplies and inward supplies along with the
payment of amount of tax
ISD return
Annual return by sellers/suppliers other than those
opting for composition levy
20th of the following month
13th of the following month
31st December of the next
financial year

14. What Is The Benefit Of GST?
GST is expected to simplify and rationalize the current indirect tax regime and bring the effective tax rates down.
The GST charged by Flipkart on the commission charged to the sellers/ suppliers would be eligible as credit (ITC) for set off against output
GST liability.
The following taxes which are currently
accounted as costs by the sellers will be
eligible as credit under GST regime :
 CST paid on procurement of goods;
 Excise duty / CVD paid on procurement
of goods;
 Additional Customs duty, special
additional duty on import of goods
 Service tax paid on input services
Taxes such as Central Excise duty,
Additional Excise duty, Service tax,
Additional Customs duty, Special
Additional duty, Central Sales tax, Value
Added tax, Entry tax, Purchase tax, Luxury
tax, Local Body Tax and Octroi will be
subsumed in GST

15. What Do You Need To Do To Prepare For GST?

16. GST Enrollment
• All existing taxpayers are required to enroll on the
GST system portal (https://www.gst.gov.in/) for the
purpose of validating the data pertaining to such tax
payer under GST regime.
• Enrolment process under the GST would be common
for all the Centre / State / UT registered taxpayers.
Additionally, enrolment under GST to be common for
both Central GST and State GST.
• Accordingly, provisional registration certificate
would be given and upon submission of requisite
documents, final registration certificate shall be
granted to such sellers/suppliers

17. How To Enroll?
• The State government commercial tax department is
issuing Provisional ID and password to every registered tax
payer.
• Go to https://www.gst.gov.in/ and create your new
username and password using Provisional ID and Password
• Login to GST portal using your new login details
• Fill up all mandatory fields in the enrollment application
• Verify auto-populated details
• Sign Enrollment Application electronically
• Submit Enrollment Application and all necessary
documents
• If details are satisfactory, an Application Reference
Number(ARN) will be issued, the ID status will be set to
Migrated
• On appointment date, Provisional ID will become Active.

18. Andaman and
Nicobar
http://www.and.ni
c.in/
State Commercial Tax Websites – I
Login to your state commercial tax website with the required credentials
Chhattisgarh
http://comtax.cg.
nic.in/
Haryana
http://bit.ly/2hkejj
F
Lakshadweep
http://www.laksh
adweep.nic.in/
Nagaland
https://www.naga
land.gov.in//porta
l
Tamil Nadu
https://ctd.tn.gov.
in/home
Andhra Pradesh
https://www.apct.
gov.in/apportal/
Dadra and Nagar
Haveli
https://www.dnh.
gov.in/portal/port
al/
Haryana
https://hptax.gov.i
n/HPPortal/
Madhya Pradesh
https://mptax.mp.
gov.in/mpvatweb/
Odisha
https://odishatax.
gov.in/
Telangana
https://www.tgct.
gov.in/tgportal/
Arunachal
Pradesh
http://www.aruna
chalpradesh.nic.in
/
Daman and Diu
http://www.dama
n.nic.in/
Jammu and
Kashmir
http://jkgad.nic.in
/
Maharashtra
http://mahavat.go
v.in/Mahavat/inde
x.jsp
Puducherry
http://gst.puduch
erry.gov.in/
Tripura
http://taxes.tripur
a.gov.in/

19. State Commercial Tax Websites – II
Login to your state commercial tax website with the required credentials
Assam
http://www.tax.as
sam.gov.in/Assam
TimsInfo/
Jharkhand
http://jharkhandc
omtax.gov.in/hom
e
Manipur
http://www.manip
urvat.gov.in/
Punjab
http://bit.ly/2hXU
YWP
Uttar Pradesh
http://comtax.up.
nic.in/
Bihar
https://www.bihar
commercialtax.go
v.in/bweb/
Goa
http://www.goaco
mtax.gov.in/
Karnataka
http://sugam.kar.
nic.in/
Meghalaya
http://megvat.gov
.in/
Rajasthan
http://rajtax.gov.i
n/vatweb/
Uttarakhand
http://comtax.uk.
gov.in/
Chandigarh
http://etdut.gov.in
/ExciseOnline/ind
ex.html
Gujarat
https://commerci
altax.gujarat.gov.i
n/vatwebsite/hom
e/home.jsp
Kerala
http://www.kerala
taxes.gov.in/
Mizoram
http://www.mizor
am.nic.in/
Sikkim
http://www.sikkim
tax.gov.in/
West Bengal
http://www.wbco
mtax.nic.in/
Tripura
http://taxes.tripur
a.gov.in/

20. What Are The Documents Required? – I
Provisional ID received from State/Central Authorities
Password received from the State/Central Authorities
Valid Email Address
Valid Mobile Number
Bank Account Number
Bank IFSC
Top five goods and services along with HSN/ SAC dealt in are also required to be filled
Proof of Constitution of Business :
 In case of Partnership firm: Partnership Deed of Partnership Firm (PDF and JPEG format in maximum size of 1
MB)
 In case of Others: Registration Certificate of the Business Entity (PDF and JPEG format in maximum size of 1 MB)
Photograph of Promoters/ Partners/Karta of HUF (JPEG format in maximum size of 100 KB)
Proof of Appointment of Authorized Signatory (PDF and JPEG format in maximum size of 1 MB)

21. What Are The Documents Required? – II
Photograph of Authorized Signatory (JPEG format in maximum size of 100 KB)
Opening page of Bank Passbook / Statement containing Bank Account Number of <
Account Number>, Address of Branch, Address of Account holder and few
transaction details (PDF and JPEG format in maximum size of 1 MB)
Proof of Principal/Additional Place of Business:
 For Own premises –Any document in support of the ownership of the premises
like Latest Property Tax Receipt or Municipal Khata copy or copy of Electricity
Bill.
 For Rented or Leased premises –A copy of the valid Rent / Lease Agreement
with any document in support of the ownership of the premises of the Lessor
like Latest Property Tax Receipt or Municipal Khata copy or copy of Electricity
Bill.
 For premises not covered in (a) & (b) above – A copy of the Consent Letter with
any document in support of the ownership of the premises of the Consenter
like Municipal Khata copy or Electricity Bill copy. For shared properties also, the
same documents may be uploaded.
For filing of enrolment application Aadhaar is not mandatory. However, at the time
of submission of your enrolment application at GST System Portal, you would be
required to use DSC or Aadhaar based E-Signing. DSC is mandatory for enrolment
by Companies, Foreign Companies, Limited Liability Partnership (LLPs) and Foreign
Limited Liability Partnership (FLLPs). For other taxpayers, DSC is optional.

22. THANK YOU