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10th Financial Planning

The document discusses key aspects of the Indian goods and services tax (GST) system including: - Major taxes that were subsumed under GST including central excise tax, VAT, service tax, etc. - Key components and structure of GST including CGST, SGST, IGST. - An example GST invoice showing taxable amounts and taxes charged.

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Fatima Ansari
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2K views23 pages

10th Financial Planning

The document discusses key aspects of the Indian goods and services tax (GST) system including: - Major taxes that were subsumed under GST including central excise tax, VAT, service tax, etc. - Key components and structure of GST including CGST, SGST, IGST. - An example GST invoice showing taxable amounts and taxes charged.

Uploaded by

Fatima Ansari
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PPTX, PDF, TXT or read online on Scribd
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• Central Sales Tax(CST) • Value Added Tax(VAT)

• Central Excise Tax • State Excise Tax


• Service Tax • Entertainment Tax
• Custom Duty • Luxury Tax, etc.

•CGST •SGST/UTGST •IGST


SUPPLIER: A to Z SWEET MART GSTIN: 27ABCDE1234H1Z5

143, Shivaji Rasta, Mumbai: 400001, Maharashtra

Mo No. 9263692111 e-mail - atoz@gmail.com

Invoice No. GST/10 Invoice Date: 31-07-2017

CGST SGST
Taxable Total
Sr no HSN Code Name of Product Rate(Rs) Quantity
Amount (Rs)
Rate Tax Rate Tax

1 210690 Pedhe 400/- Kg 500gm 200.00 2.5% ₹ 5.00 2.5% ₹ 5.00 ₹ 210.00

2 210691 Chocolate ₹ 80 1Bar 80.00 14% ₹ 11.20 14% ₹ 11.20 ₹ 102.40

200/- 1Pack
3 2105 Ice Cream 200.00 9% ₹ 18.00 9% ₹ 18.00 ₹ 236.00
Pack (500gm)

4 1905 Bread ₹ 35 1Pack 35.00 0% ₹ 0.00 0% ₹ 0.00 ₹ 35.00

5 210690 Butter 500/- Kg 250gm 125.00 6% ₹ 7.50 6% ₹ 7.50 ₹ 140.00

TOTAL RUPEES ₹ 41.70 ₹ 41.70 ₹ 723.40


Food Junction, Khed-Shivapur, Pune Invoice No. 58
Mo No. 7588580000 email - ahar.khed@yahoo.com
GSTIN: 27AAAAA5555B1ZA Invoice Date: 25-12-2017
Taxable
SAC Food items Quantity Rate (Rs) CGST SGST
Amount

9961 Coffee 1 ₹ 20 ₹ 20.00 2.5% 2.5%


9963 Masala Tea 1 ₹ 10 ₹ 10.00 2.5%
9962 Masala Dosa 2 ₹ 60 2.5%
TOTAL
GRAND TOTAL =
Goods and Services Tax Identification Number
• Mandatory for all DEALERS
• Whose ANNUAL TURNOVER in PREVIOUS FINANCIAL YEAR
• MORE THAN 20 LAKHS
• It consists of 15 ALPHA - NUMERALS
• Eg. 27ABCDE1234H1Z5
Harmonized System of Nomenclature
HSN code is a NUMERICAL CODE given to all the GOODS for
classifying them.
Service Accounting Code
SAC code is a NUMERICAL CODE given to all the SERVICES for
classifying them.
01 Jammu and Kashmir
02 Himachal Pradesh
03 Punjab 18 Assam
04 Chandigarh 19 West Bengal
05 Uttarakhand 20 Jharkhand 31 Lakshadweep
06 Haryana 21 Odisha 32 Kerala
07 Delhi 22 Chattisgarh 33 Tamil Nadu
08 Rajasthan 23 Madhya Pradesh 34 Pondicherry
09 Uttar Pradesh 24 Gujarat 35 Andaman and
10 Bihar 25 Daman and Diu Nicobar
11 Sikkim 26 Dadra and Nagar Haveli 36 Telangana
12 Arunachal Pradesh 27 Maharashtra 37 Andhra Pradesh
13 Nagaland 28 Andhra Pradesh(Old) (New)
14 Manipur 29 Karnataka
15 Mizoram 30 Goa
16 Tripura
17 Meghalaya
Sr no Rate Goods and Services items list
of GST
I 0% GOODS – Essential commodities like food grains, fruits, vegetables,
milk, salt, earthen pots, etc.
SERVICES – Charitable trust activities, transport of water, use of roads
and bridges, public library, agriculture related services, Education and
Health care services, etc.
II 5% GOODS – Commonly used items – LPG cylinder, tea, coffee, oil, honey,
frozen vegetables, spices, sweets, etc.
SERVICES – Railway and bus transport services, taxi services, air
transport(economy class), hotels providing foods and beverages, etc.
III 12% GOODS – Consumer goods – Butter, ghee, dry fruits, jam, jelly, sauces,
pickles, mobile phone, etc.
SERVICES – Printing job work, guest house, services related to
construction business, etc.
IV 18% GOODS – Marble, granite, perfumes, metal items, computer, printer,
monitor, CCTV, etc.
SERVICES – Courier services, outdoor catering. Circus, drama, cinema,
exhibitions, currency exchange, broker services of share trading, etc.
Sr no Rate Goods and Services items list
of GST
V 28% GOODS – Luxury items, motor vehicles and spare parts, luxury cars, pan
masala, vacuum cleaner, dish washer, AC, washing machine, fridge,
tobacco products, aerated water, etc.
SERVICES – Five star hotels accommodation, amusement parks, water
parks, theme parks, casino, race course, IPL games, air
transport(business class), etc.
Manufacturer Wholesaler Retailer Consumer

100

Manufacturer Wholesaler Retailer Consumer


Manufacturer Wholesaler Retailer Consumer
C.P 100 200 300 448
+ Profit + 100 + 100 + 100
S.P 200 300 400
+ Tax12% + 24 + 36 + 48
I.P 224 336 448

Tax on sales 24 36 48
- Tax on Pur -0 - 24 - 36
Tax Payable 24 + 12 + 12 = 48
Utilization of
Utilization against
Income Expenditure

Savings Shares

Insurance

Provident Fund

Bonds
Fixed Recurring Jewellery Immovable
Deposit Deposit Property
Shares
Capital: The amount invested to start a business.
Share: It is the smallest unit of capital.
Share Certificate: It is a document which specifies the
ownership and other important details regarding the shares.
Share Holder: The person who owns the share.
Dividend: The part of the annual profit of a company which
is distributed per share among the shareholders.
[Dividend is always calculated on the basis of FV and not MV.]
Face Value: It is the value printed on share certificate.
Market Value: It is the price at which shares are purchased
or sold in the stock market.
[As the number of shares are FIXED, the Market value of shares
keeps changing frequently due to fall or rise in DEMAND of
shares in the stock market.] Increase Decrease
Stock Exchange: The place where buying and selling of
(Share market) shares takes place.
National Stock Exchange (NSE)(Largest in INDIA)
Bombay Stock Exchange (BSE) (Oldest in ASIA)
There are 2 share indices

SENSEX NIFTY
•SENSitive + indEX •NSE + FIFTY
•It is determined by 30 stocks •It consists of INDIA’S topmost
50 stock
Comparison of FV and MV
•If MV > FV then the share is at premium.
•If MV = FV then the share is at par.
•If MV < FV then the share is at discount.
Sum invested:Total amount required to purchase the shares.
(Number of shares x MV)
Rate of Return (ROR):
•It is the percentage of return on the amount invested.
ROR = Returns x 100
Investment
Returns = Face Value x Percentage(Rate)
Brokerage
•Amount paid to the SHARE BROKER for buying and selling of
shares in the stock market.
•It is a small percentage of MV of Stock.
Market Value x Percentage(Rate)
Share Broker: Registered member or organisation (agency)
of stock market who provides the services of buying and
selling of stock.
Buying Cost: Market Value + Brokerage
Selling Price: Market Value - Brokerage
GST on Brokerage services
• Share Broker provide services of purchase and sale of shares
for their clients
• These services are charged under GST at the Rate 18%
• Other nominal charges on shares are Security Transaction
Tax(SST), SEBI charges, Stamp Duty, etc
Mutual Funds
• Mutual Fund is a professionally managed investment scheme,
usually run by AMC(Asset Management Company)
• They invest the money given by the investors in different
schemes e.g. Equity Fund, Debt Fund or Balanced Debt
• By investing in Share market investors get SHARES, whereas
by investing in Mutual Funds investors get UNITS
• The Market Value of a unit is called NAV(Net Assets Value)
• NAV of units keeps changing frequently
Total fund value = NAV of one unit x Number of units

Systematic Investment Plan


• Investing same amount at regular time intervals, either
monthly or quarterly
• It encourages regular savings and investments

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