Goods and services tax

PRESENTATION ABOUT GST AND ITS IMPLEMENTAION WAS GOOD OR BAD

1. Goods and Services Tax Effects Of Its Implementation Was Good Or Bad KUNAL KUMAR Roll No 22 PGDM (2 nd Semester)

2. Feature Types Impact Good Impact Bad 2 Goods and Services Tax

3. Feature Single Indirect Tax After 1st July 2017. Tax On Supplies Of Goods And Services. Lower Cost By Removal Of Cascading Effect Of Taxation. Administration By Clearly Defined Authority. 3

4. Goods and Services Tax Types SGST (State Goods and Services Tax) CGST (Central Goods and Services Tax) IGST (Integrated Goods and Services Tax) UGST (Union Territory Goods and Services Tax ) ) 4

5. Good Impact Eliminates multiple layers of taxation. Removes cascading effects. Creates a common national market. Ease of doing business. 5

6. Good Impact Boosts productivity of logistics. Regulates unorganized sector under GST. Tackles corruption and tax leakages. 6

7. Bad Impact Increases costs due to software purchase. Higher Tax Burden of SMEs. Increase Burden of Compliance. No GST charged on petroleum products. 7

8. Bad Impact GST is an online taxation system. GST was implemented in the middle of the financial year. IT Infrastructure. Training of Tax officers. 8

9. 9 Conclusion Change Is Definitely Never Easy. The Government Is Trying To Smoothen The Road To GST. It Is Important To Take A Leaf From Global Economies That Have Implemented GST Before Us . Who Overcame The Teething Troubles To Experience The Advantages Of Having A Unified Tax System And Easy Input Credits.

10. THANK YOU!