GST – Goods & Service Tax
Chipko Movement
March 26, 2018
Kamaladevi Chattopadhyay
April 3, 2018

The President of India approved the Constitution Amendment Bill for Goods and Services Tax (GST) on 8 September 2016

  • The Goods and Service Tax Act was passed in the Parliament on 29th March 2017.
  • The Act came into effect on 1st July 2017.
  • The launch was marked by a historic midnight (30 June – 1 July) session of both the houses of parliament convened at the Central Hall of the Parliament.
  • Goods & Services Tax Law in India is a comprehensive, multi-stage, destination-based tax that is levied on every value addition.
  • This law will replace all indirect taxes levied on goods and services by the central government and state government
  • Under the GST regime, the tax will be levied at every point of sale. In case of interstate sales, Central GST and State GST will be charged. Intra-state sales will be chargeable to Integrated GST.
  • There are 3 taxes applicable under GST: CGST, SGST & IGST.

CGST: Collected by the Central Government on an intra-state sale (Eg: Within Maharashtra)

SGST: Collected by the State Government on an intra-state sale (Eg: Within Mahaashtra)

IGST: Collected by the Central Government for inter-state sale (Eg: Maharashtra to Tamil Nadu)

  • In India, GST model has 4 rate structure. They are 5%,12%,18% and 28%.
  • India has the maximum tax slab(28%) compare to other countries.
  • In india,GST was first proposed in 2000.
  • Headquarters of GST council – New Delhi.
  • Chairman of GST council- Finance Minister
  • The first state that passed GST Bill – Telangana.
  • An E-Way Bill, a GSTN project under the Goods and Services Tax, is required to be generated for every inter-state movement of goods beyond 10 kilometres (6.2 mi) and the threshold limit of ₹50,000
  • Goods Kept Outside the GST
  • Alcohol for human consumption.
  • Tobacco and Tobacco products.
  • Petrol and petroleum products (GST will apply at a later date) viz. Petroleum crude, High speed diesel, Motor Spirit (petrol), Natural gas, Aviation turbine fuel.[
  • GST Council is the governing body of GST
  • France was the first to introduce GST in 1954 .
  • There are around 160 countries in the world that have GST in place
  • All the business entities registering under GST will be provided a unique identification number known as GSTIN or GST Identification Number.

Following are Acts under GST which were passed and received the President‟s assent on 12th April, 2017-

  • The Central Goods and Service Tax Act, 2017(CGST)
  • The Integrated Goods and Service Tax Act, 2017(IGST)
  • The Union Territory Goods and Service Tax Act, 2017(UTGST)
  • The Goods and Service Tax(Compensation to States) Act, 2017(Compensation Cess)

Nandhana Viswan