Tax layers under proposed GST Model
Inter-state transactions or supplies to be charged an Integrated GST (IGST) which is a combination of Central-GST (CGST) and State-GST (SGST) rates Unique input tax credit mechanism; as illustrated below: Comparative Analysis (Intra-State Trade)(Assumed Rates for Excise Duty, CGST & SGST @12%, VAT @12.5%) Comparative Analysis (Inter-State Trade)(Assumed Rates for Excise Duty, CGST & SGST @12%, CST @ 2% each) Current Scenario – Tax Implications against Sales and Stock Transfers by an MNC(Assumed Rates for Excise Duty @12%, VAT@12.5%, CST @ 2% each) GST Scenario – Tax Implications against Sales and Stock Transfers by an MNC(Assumed Rates for SGST & CGST @12%, IGST @ 24%, Add. Tax @ 1%)
When will GST be applicableGST Definition, ObjectiveTax layers under proposed GST ModelFiling of GST ReturnsReturns Under GSTGST Current Tax StructureExpected Scheme of GSTGST RegistrationGST RatesImpact of GST in Indian Economy
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