University of Lucknow

Department of commerce
Internal Assignment

IGHT AND LEARNING

UNIVERsITY OFL UCKNOW

>Name - Abhishek Verma

> Course - B.Com
>Semester - sth
> Section-D
> Serial number- 161

>Subject - Goods and Services Tax

>Submitted-To- Prof. S. K. Shukla
>University Roll Number- 2110012015705
TYPES
GSTOF WHAT
TOPIC:
IS
GST
 WHAT IS GST?
&uices TAx (GsT) s
The Goods e Borvias 6ucceSsoy

to VAT ustd in incia On the

onl l senvias .
GsT VAT

whne yo Can track th

Botth VAT k GST hae Hhe
Same teaxat'on Corpy hngie
slabs. It a

Comþrz hensiu
multi stog, destination basd tar:
subsur°d alnot all the
becuse it has
ineieet except a stats
taxds
it the GhST s
Multi - stoges
-

imposel t step in the þyocduttion

þrocess but mecrt to be Halu nokd
in the Vaios stgls
to all þanties
pocluction othe than inal consuen
dles tiration butd tax , it
and
Collected brorn þoint Con sunton
not þoint o orgh þruious tats.
 TYrcs OF GST
CGSTÍCentyal Goods A Sonvias Tax] 8
Jt e placed all the þreuious taxes
Unolen the Cuntral Groveunm ent som

xamples such taxes ae contol

lntral exist
CGnsT s lvieel the movement goods
within state.

To wnclustenel the
méig CGsT,
hets take an Cxample -

a man yactur produes a gol

in wyt an ells t in toa state,
both SGST & CGhST will be levied The
The kumen wil go to the
State Govnment whe ay
west Bagal
the latten wil
Ptach Gnovnmnt ten Gloven ment
þen GsT Council mandate
 itens.
|47.
gou,.
indestil ,&
Soaps te, es
tDoth
oiu haiþrocducts
s Capital
67.
koods Processtd
(2)
Coul Swets, Inelian cinw, mdi
2-57. -sg cus
Lije spisþiLs onc sugun eil
toffet,
bl
eoli tea, like item holel house 0
CGST% GiooDS
tuste. kollousing the inJoocs
ceble obpli (osT the Let
(2) SGSTL Stte Goods & sovicas tax
It Colle ctd by stat Ovnmnt,
which is apblicable On transactionu wihin
tts boun olavies
gg ophical boun laies . Undun the ne
tax segime þrevios stute taxes liRe
utetuinment tax, UAT & 8tode sele ax
become non - untional.
`G5T Stanch kor Stete Grooeds & sewias
te kingl tx leviel
intrastate
exeebt 7or
alcoholio liquor Tt Cen
be changed solay
a produt's trunsactional yaled
ln nount the buye nuds to bay
ShsT atwas might Vay state - wise
sinle lach 6tte Ghovenmunt hae
Incivicual act

Chanactnsti cs like taxble eents

Valuation ion oods
bnvius and measwes
 acrosS
nation.

tis tax embodin the obj cti ue y

this ne tox egimo :: ont t u , on natio
efen to the table blow to lrcsun
maximum tate

Productg SGST.

0 Houeholol amerties like tea, ugan 2.57.

etc, Hdicines, Coul , cnel Tnelin
bw.eet

Processecd kood item like cheue

(3) Cabstal goo ds, koaps, toothbaste

Aiy Concitiony , neyigluats,
high - endl vahicles
 intenstatt
tansactors, ie, tnsaction bltueen two
dikfourt states Amony the
On

anel svias bw two stete anod euen

h
<xport k inport CTGST +Cusb), The
Contrad Gasnmt is sesponsi hl 0r its
Collectior ber the IGST Act. Let s
Simhlby this with thu helb exambl

sup ose manufactuen

sells to (ustomen in Mahanahtoa
thiy Case, IGST wil atbly to the
transacton valu. TheThe Cetal
Gounmnt
wile Coloct this sum Latey tis
amot will be ivicdec betoeen

the Consmen Btate - in this Case, Mahatshtoa

thu Centoal Goven ment
 Lohy cloes he tax ho Corsumn
stete and
not the marufectuning stte?
Becauss tu taX
the buyn incwy thu

Chack the maximm bte o T1ST

ofþlicable On diffount different
gooda from the table bilowi
Pouct T1ST7.
0 House holel roducts ike tea
5
Bugen etc. Inc'an Suwets l
Sauing dgs
(2)2 Cheee, breacd, othen þyoesed 127.
kood itemy
3 Heir ol, tothpste, soaps Gpitul

237
Luxy items ike ACs &Ryjyeccto
 UTGST[Unicn Teritoy Groocds &Sevias Tax):
ypli cablo to the tosuctin goods d
konuices in the Uhion toritona It s
leviet On he
suby þroductt in
Anelamrn k
Nicobar Islond ,
Damcn Diu Lakshadoep ,

Note that
Choncganh , k Oaclrc k Nagon Hoveli
UTGIST àonly otplicahle oon
Union Tes tosy coithout
itoy legis katunu.
Hene , Qelhi, Ducuchay and luen the
hewly bomed UTs amme d Koshmir Coce
not lable kor UTsT by SG5T.
Understan bing H
the UTasT meaning Simby
s ot
Sufoy itndt muyt
also Kno te
pplicabe ates.
Thi taxlollected the Cental
govenment ancl Substitte tor the
State Goocds seorica tar in UTs Thuy
the UT G5T Pencentge s si ular to
to thet SGST , which ase 2.s7..

6 1 / , 147.

Futhenmort, ften wndanstnslirg the tyay

G GsT and otey ssoaatct
ssoteod coitth them,
Uitl to know that kome þrolucts
tox ed ot o . Hiat toom animal,
bircds & ksh do not doaw such a tax.
Aelditiorally soni tay nkins , baranas ,apbley
ancl grapes other tx- e þroclucts.