PPT discusses about short comings of existing system of Indirect taxes in the country. It compares existing system with Proposed GST regime and what GST promises. The PPT explains about new concepts of GST like:-
– GST is destination based taxation system
– Dual model of taxation i.e Center and State GST (CGST & SGST)
– revenue will go the state where the good and services have been consumed
– State governments will be empowered to charge tax on services, etc.
– Inter stage GST (IGST)
– Common Returns for Center and State taxes.
It also explain how tax collection mechanism will work on national level through IT and one Clearing house.
PPT Further discusses discussed about grey areas of GST like
– there will be Cascading effects
– un-organized sector
– strong regulator
– constitutional amendments
Author have also given suggestion for effective GST system in the country.
(Authored by CMA Rakesh Bhalla and CMA Anil Sharma)
Very good presentation. Your article in our Management Accounting Journal December 2014 issue is also a nice presentation. Carry on sir.
Regards,
CMA Utpal K Saha