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Understanding India's Tax Structure and GST

The document discusses various aspects of taxation in India including: 1) It outlines the main types of direct and indirect taxes in India such as income tax, customs duty, goods and services tax (GST), and excise taxes. 2) It explains how tax revenues are shared between the central and state governments for different types of taxes. 3) It provides an overview of the transition to a unified goods and services tax (GST) system in India which merged several indirect taxes into a single tax. 4) It describes the basic structure of GST including how it is divided between central GST, state GST, and integrated GST for interstate transactions.

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Pavan Jayaprakash
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97 views8 pages

Understanding India's Tax Structure and GST

The document discusses various aspects of taxation in India including: 1) It outlines the main types of direct and indirect taxes in India such as income tax, customs duty, goods and services tax (GST), and excise taxes. 2) It explains how tax revenues are shared between the central and state governments for different types of taxes. 3) It provides an overview of the transition to a unified goods and services tax (GST) system in India which merged several indirect taxes into a single tax. 4) It describes the basic structure of GST including how it is divided between central GST, state GST, and integrated GST for interstate transactions.

Uploaded by

Pavan Jayaprakash
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd

By:

CA. Pavan Jayapr


w does Democratic Government function?

Legislative Executive Judiciary

Makes Laws Administers Laws Interprets Laws


ssifications of Taxes in India

Taxes

Direct Tax
Indirect Tax

‣ Income tax ‣ Customs


‣ Security Transaction Tax ‣ Goods and Services Tax
‣ Property Tax ‣ Excise on Alcohol
‣ Sales tax on petroleum Products
ho gets the share of Tax?

✓ Income Tax ✓ Property Tax


✓ Customs Duty ✓ Tax on Alcohol and ✓ GST - Integrated
✓ GST - Central Petrol
✓ GST - State
amping of Indirect Tax system = GST

✓ Value Added Tax


xcise Duty
✓ Entry Tax
ervice Tax
✓ Luxury Tax
dditional Duty of Customs
Comprehensive Single ✓ Entertainment Tax
(Consumption based) Indirect
Tax
t is the Structure of GST

Federal
Structure

Union
Union
GST Council States

CGST IGST SGST UTGST


Outside the Purview of GST

Alcohol for Human Consumption


Petroleum Products

Electricity Property tax


GST I Levy of Tax
Karnataka Tamil Nadu
Sales Invoice
Sales Invoice Sales Invoice Basic Price 200
Basic Price 100 Basic Price 150 CGST @ 10% 20
CGST @ 10% 10 IGST @ 20% 30 SGST @ 10% 20
SGST @ 10% 10 Total 180 Total 240
Total 120
Intrastate Sale Interstate Sale Intrastate Sale

Factory Distributor Retailer Custo


able CGST SGST Tax Payable IGST Tax Payable CGST SGST
ax 10 10 Output Tax 30 Output Tax 20 20
x - - CGST & SGST 20 IGST 20 10
able 10 10 Net Payable 10 Net Payable - 10

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