Professional Documents
Culture Documents
Presented By
CA. KEVIN SHAH
PRESENT SCHEME OF TAXATION
Present Tax
Structure
(5 Imp elements)
Entry
Excise Duty Customs Duty Service Tax Sales Tax/VAT Tax/Entertainment
Tax
Entry 84, List I, Entry 83, List I, Residuary Entry Entry 54, List II Entry 52 & 62 of
Schedule VII Schedule VII 97, List I, Schedule (VAT) and 92A of List II, Schedule VII
VII list I (CST)
Taxable Event is Taxable Event is Taxable Event is Taxable Event is Taxable Event is
manufacture Import/Export provision of service sale entertainment &
entry of goods
3
29 May 2017
WHAT IS GST?
4
29 May 2017
STRUCTURE OF REGISTRATION NUMBER
9
Broad analysis of Persons liable for
10
registration [Sec 22, 23 & 24]
Person supplying
goods/services of > Rs.
10 lakhs in special
category states
Person supplying
goods/services of > Rs.
20 lakhs in other than
special category states
Registration
Compulsory
registration
Broad analysis of Persons liable for
11
registration [Sec 22, 23 & 24]
Every supplier shall be registered in the state or Union
territory from where he makes a taxable supply of
goods or services or both if turnover in,
Special category states > Rs. 10,00,000/-
Other states> Rs. 20,00,000/-
PAYMENT OF TAX:
Electronic Credit Ledger [Input Tax Credit]
Electronic Cash Ledger [Cash payment]
Transaction
Credit Available
Input Tax
Credit
[2(63)]
19
RATES UNDER GST
RATES DAIRY, BEAUTY & PERSONAL
21
CARE
Particulars Pre GST Post GST
Fresh Milk 0 0
Fresh Fruits 0 0
Supplier
files outward Due date is 10th May
supply details Acknowledgment copy is
received under FORM
FORM GSTR-1A
GSTR-1
Registered person
files inward & Due date is 20th
May
outward supply, No acknowledgment
input tax credit, copy is received
cash payment
Matching Concept
26 What is matching concept?
Types of mismatch:
Amount mismatch
Rate mismatch
Timing mismatch
Description mismatch
Transaction mismatch
Others