MAHARASHTRA NATIONAL LAW UNIVERSITY,

AURANGABAD.

GOODS AND SERVICES TAX: “ONE NATION, ONE

MARKET, ONE TAX”

SUBMITTED BY: ARPIT GOYAL

ROLL NO. 10

B.A.LL. B (Hons.) IV Semester

MAHRASHTRA NATIONAL LAW UNIVERSITY,

AURANGABAD

UNDER THE GIUDANCE OF

Mr. AKASH SHAHAPURE

ASSISTANT PROFESSOR (ECONOMICS)

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 TABLE OF CONTENTS

S.no: Topic Page No:

1 Introduction 3

2 History 8

3 Need of GST 9

4 GST Council 10

5 GST Rate Slabs 11

6 Impact of GST on various 13

sections of society

7 Merits and Demerits 15

8 Conclusion 18

9 Bibliography 19

INTRODUCTION

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Goods and Services Tax (GST) is an indirect tax which was presented in India on 1 st July
2017 and was material all through India which replaced various taxes imposed by the central
and state governments. GST was one hundred and first amendment act, 2017 introduced
in the Indian Constitution.The GST is represented by a GST council and its chairman is the
finance minister of India. Under GST, goods and services are taxed at the accompanying
rates, 0%, 5%, 12%, 18% and 28%. There is a unique rate of 0.25% on rough precious and
semi-precious stones and 3% on gold. Moreover, a cess of 22% or different rates over 28%
GST applies on couple of things like aerated drinks, luxury cars and tobacco items. GST
replaced a huge number of roundabout charges with a unified tax and is subsequently set to
drastically reshape the nation's 2 trillion-dollar economy.

What is GST?

If we say in simple words, “GST is an indirect tax imposed on the supply of goods and
services. GST law has replaced different kinds of indirect tax laws that earlier existed in
India.”
GST applies to all the goods other than crude petroleum, motor spirit, diesel, aviation turbine
fuel and natural gas. It applies to all services forbidding a few to be specified. With the
increase of international trade in services, GST has becomes a global standard, which has
importance throughout the world. GST ensures that indirect tax rates and structures are same
in entire India and it increases the ease of doing business. This make doing business in the
country tax neutral, irrespective of the choice of place of doing business. Before Goods and
Service Tax, the pattern of tax levy was as follows:

After Goods and Service Tax, the pattern of tax levy are as follows:
Goods & Services Tax Law in India is a comprehensive, multi-stage, destination-based
tax that is applied every value addition. Under the GST regime, tax is levied at every point of

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sale.
Now we understand how is “GST is a comprehensive, multi-stage, destination-based tax that
is levied on every value addition.”

Multi-Stage

There are different change-of-hands, that an item goes through along its supply chain from
the manufacture to the final sale to consumer.

Let us consider the following case:

 Purchase of raw materials,

 Production or manufacture,
 Warehousing of finished goods,
 Sale of the product to the retailer and
 Sale to the end consumer

NOTE : Goods and Services Tax is levied on each of these stages, which makes it a multi-
stage tax.

Value Addition

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A manufacturer who makes shirt and buys yarn. The value or cost of yarn gets increased
when the yarn is woven into a shirt. The manufacturer then sells the shirt to the warehousing
agent who attaches labels and tags to each shirt. That is another addition to the value, after
which the warehouse sells further it to the retailer. The retailer packages each shirt separately
and invests in the marketing of the shirt, thus the value of shirt increases finally.

NOTE: GST is levied on these value additions i.e. the monetary value added at every stage to
achieve the final sale to the final customer.

Destination-Based
Suppose goods manufactured in Punjab and are sold to the final consumer in Himachal
Pradesh. Since Goods & Service Tax (GST) is levied at the point of consumption, in this case
Himachal Pradesh, so the entire tax revenue goes to Himachal Pradesh.

Illustrations:
Before GST:

Suppose a shirt manufacturer pays Rs. 100 to buy raw materials for it. If the rate of taxes is
10%, and there is no profit or loss involved in it, then he has to pay Rs. 10 as tax for it. So,
the final value of the shirt now become Rs.(100+10=) 110. At the next stage, the wholesaler
buys the shirt from the manufacturer at the cost of Rs. 110, and adds labels and tags to it.
When he is adds labels, means he is adding value. Therefore, his cost increases suppose by

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Rs. 40. On top of this, he has to pay a 10% tax, and the final cost now becomes Rs.
(110+40=)150+10% tax = Rs. 165.

Now, the Retailer pays Rs. 165 to buy the shirt from the Wholesaler because the tax liability
had passed on to him for it. He has to package the shirt, and add value again. This time, let’s
we say his value add is Rs. 30. Now when he sells the shirt, he adds this value (with the VAT
he has to pay the government) to the final cost. So, the price of the shirt becomes Rs. 214.5.
Let us see a breakup for this:

Cost = Rs. 165 + Value add = Rs. 30 + 10% tax = Rs. 195 + Rs. 19.5 = Rs. 214.5

So, the customer pays Rs. 214.5 for a shirt the cost price of which was actually only Rs. 170
(Rs.100+Rs.40+Rs.30). Along with the tax liability was passed on at each stage of transaction
and the final liability comes to rest with the customer that by it. This is called the Cascading
Effect of Taxes where a tax is paid on tax and the value of the goods keeps increasing every
time this happens.

Action Cost 10% Tax Total

Buys Raw Material @ 100 100 10 110

Manufactures @ 40 150 15 165

Adds value @ 30 195 19.5 214.5

Total 170 44.5 214.5

In the same example, when the wholesaler buys shirt from the manufacturer, he pays tax of
10% on his cost price because the liability has been passed on to him from manufacturer.
Then he adds value of Rs. 40 on his cost price that is Rs. 100 and this brings up his cost to
Rs. 140. Now he has to pay 10% tax of this price to the government, but he has already paid
one tax to the manufacturer for it. So, this time what he does is, instead of paying Rs. 14
(10% of Rs.140) to the government as tax, he subtracts the amount from it he has paid
already. So, he subtracts the Rs. 10 he paid on the purchase from his new liability of Rs. 14,
and he pays only Rs. 4 to the government as tax. At that time, he pays Rs. 4 as tax to the
government, he passes on its liability to the retailer. So, the retailer pays Rs. 154 (140+14) to
him to buy the shirt. At the next stage, the retailer adds value of Rs. 30 to his price and has to
pay a 10% tax on it to the government. Now he adds value, his price becomes Rs. 170. If he
has to pay 10% tax on it, he passes on the liability to the final customer. But he already has
input credit because he earlier has paid Rs. 14 to the wholesaler as tax. So, now he reduces
Rs. 14 from his tax liability of Rs. 17 (10% of Rs.170) and he has to pay only Rs. 3 to the

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government. And therefore, he now sell the shirt for Rs. 187 (140+30+17) to the end
customer.

Action
Cost 10% Tax Actual Liability Total

Buys Raw Material 100 10 10 110

Manufactures @ 40 140 14 4 154

Adds Value @ 30 170 17 3 187

Total 170 41 17 187

NOTE
In the end, every time an individual was able to claim input tax credit, the sale price for him
decreased and the cost price for the person buying his product reduced because of a lower tax
liability on it. The final value of the shirt also therefore reduced from Rs. 214.5 to Rs. 187,
thus GST reduces the burden of tax on the final customer.

HISTORY

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The change procedure of India's aberrant expense administration was begun in 1986 by
Vishwanath Pratap Singh, Finance Minister in Rajiv Gandhi's legislature, with the
presentation of the Modified Value Added Tax (MODVAT). Consequently, Manmohan
Singh, at that point Finance Minister under of P V Narasimha Rao, started early discourses on
a Value Added Tax at the state level. A solitary regular "Merchandise and Ventures Tax
(GST)" was proposed and given a thumbs up in 1999 amid a meeting between then Prime
Minister Atal Bihari Vajpayee and his financial admonitory board, which included three
previous RBI governors IG Patel, Bimal Jalan and C Rangarajan. Vajpayee set up a panel
headed by the then back clergyman of West Bengal, Asim Dasgupta to plan a GST display.

The Ravi Dasgupta advisory group was likewise entrusted with setting up the backend
innovation and coordinations (later came to be known as the GST Network, or GSTN, in
2017) for revealing a uniform tax collection administration in the nation. In 2002, the
Vajpayee government shaped a team under Vijay Kelkar to suggest impose changes. In 2005,
the Kelkar panel prescribed taking off GST as proposed by the twelfth Finance Commission.
After the fall of the BJP-drove NDA government in 2004, and the decision of a Congress-
drove UPA government, the new Finance Minister P Chidambaram in February 2006
proceeded with take a shot at the same and proposed a GST rollout by 1 April 2010.
However, in 2010, with the Trinamool Congress steering CPI (M) out of energy in West
Bengal, Asim Dasgupta surrendered as the leader of the GST advisory group. Dasgupta
conceded in a meeting that 80% of the errand had been finished. In 2014, the NDA
government was re-chosen into control, this time under the initiative of Narendra Modi. With
the significant disintegration of the fifteenth Lok Sabha, the GST Bill – affirmed by the
standing board of trustees for reintroduction. After Seventh month of the Modi government,
Arun Jaitley, new Finance Minister presented the GST Bill in the Lok Sabha, where the BJP
had a greater part. In February 2015, Jaitley set another due date of 1 April 2017 to actualize
GST. In May 2016, the Lok Sabha passed the Constitution Amendment Bill, clearing path for
GST. In any case, the Opposition, drove by the Congress, requested that the GST Bill be
again sent back to the Select Committee of the Rajya Sabha because of contradictions on a
few proclamations in the Bill identifying with tax collection. At long last in August 2016, the
Amendment Bill was passed. Throughout the following 15 to 20 days, 18 states approved the
GST Bill and the President Pranab Mukherjee gave his consent to it.

A 22-individuals select advisory group was shaped to investigate the proposed GST laws.
State and Union Territory GST laws were passed by every one of the states and Union

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Territories of India aside from Jammu and Kashmir, making ready for smooth rollout of the
assessment from 1 July 2017. There was to be no GST on the deal and buy of securities. That
keeps on being represented by Securities Transaction Tax (STT).

NEED OF GST

Indirect Tax in India is divided between Union and States in type of Excise, Service Tax,
VAT, CST, entry tax and so on. Presently, credit isn't accessible for Taxes paid to various
governing body example Credit of Excise and Service Tax which is Levied by Central
Government isn't accessible again VAT liability which is exacted by State Government. This
prompt falling impact. Further, every state has their own particular tax rates. This makes
exchange limits between states. Further, agents are reluctant to arrange merchandise from
different states both because of monetary reasons and because of consistence load.

GST plan to conquer this greatest disadvantage of current indirect tax regime. One of the
imperative goal of GST is 'One Nation, One Market'. What's more, another goal is to decrease
falling impact. In spite of the fact that a few people contend that this question isn't achievable
or a bit much, this is conceivable if there is a will on part of government and it is likewise
important to expel falling impact. GST tries to address above real issues which are pending
from years or decades. It is a much-required change in our country.

GST COUNCIL

According to Article 279A (1) of the amended Constitution, the GST Council must be
constituted by the President inside 60 days of the initiation of Article 279A. The notice for

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 carrying into drive Article 279A with impact from twelfth September, 2016 was issued on
tenth September, 2016.

According to Article 279A of the corrected Constitution, the GST Council which will be a
joint gathering of the Centre and the States, should comprise of the accompanying
individuals: -

 Union Finance Minister - Chairperson

 The Union Minister of State, in charge of Revenue of finance - Member
 The Minister in-charge of finance or taxation or some other Minister designated by
each State Government – Members.

According to Article 279A (4), the Council will make proposals to the Union and the States
on imperative issues identified with GST, similar to the merchandise and enterprises that
might be subjected or exempted from GST, show GST Laws, rule that administer Place of
Supply, edge limits, GST rates incorporating the floor rates with groups, exceptional rates for
raising extra assets amid regular catastrophes/calamities, uncommon arrangements for
specific States, and so forth.

The Union Cabinet under the Chairmanship of Prime Minister Narendra Modi affirmed
setting up of GST Council on twelfth September, 2016 and furthermore setting up its
Secretariat according to the accompanying subtle elements:

 Creation of the GST Council according to Article 279A of the changed Constitution;
 Creation of the GST Council Secretariat, with its office at New Delhi;
 Inclusion of the Chairperson, Central Board of Excise and Customs (CBEC), as a
perpetual invitee (non-voting) to all procedures of the GST Council;
 Appointment of the Secretary (Revenue) as the Ex-officio Secretary to the GST Council;

Create one post of Additional Secretary to the GST Council in the GST Council
Secretariat (at the level of Additional Secretary to the Government of India), and four posts of
Commissioner in the GST Council Secretariat (at the level of Joint Secretary to the
Government of India). The Cabinet additionally chose to accommodate satisfactory assets for
meeting the repeating and non-repeating costs of the GST Council Secretariat, the whole cost
for which might be borne by the Central Government. The GST Council Secretariat might be

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kept an eye on by officers gone up against delegation from both the Central and State
Governments.

GST SLAB RATES

After a lot of opposition from different state governments and political parties the
government of India fixed the GST rate slabs into 5 major slabs which are 0%, 5%, 12%,
18% and 28% respectively.

1. No tax (0%)

Goods 
No tax will be imposed on items like jute, fresh meat, fish chicken, eggs, milk, butter
milk, curd, natural honey, fresh fruits and vegetables, flour, besan, bread, prasad, salt,
bindi, sindoor, stamps, judicial papers, printed books, newspapers, bangles, handloom,
Bones and horn cores, bone grist, bone meal, etc.

Services 
Hotels and lodges with tariff below ₹ 1,000, grandfathering service has been exempted
under GST. Rough precious and semi-precious stones will attract GST rate of 0.25 per
cent.

2. 5% tax

Goods 
Items such as fish fillet, Apparel below ₹ 1000, packaged food items, footwear below ₹
500, cream, skimmed milk powder, branded cottage cheese, frozen vegetables, coffee,
tea, spices, pizza bread, rusk , sabudana, kerosene, coal, medicines, stent, lifeboats,
Cashew nut, Cashew nut in shell, Raisin, Ice and snow, Bio gas, Insulin, Incense sticks,
Kites, Postage or revenue stamps, stamp-post marks, first-day covers, Branded food,
walnuts, dried tamarind, etc.

Services 
Transport services (Railways, air transport), small restaurants, textile job, etc. are kept
in the purview of slab of 5% tax rate.

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 3. 12% tax

Goods 
Apparel above ₹ 1000, frozen meat products , butter, cheese, ghee, dry fruits in packaged
form, animal fat, sausage, fruit juices, Bhutia, namkeen, Ayurvedic medicines, tooth
powder, colouring books, picture books, umbrella, sewing machine, Cell phones, Ketchup
& Sauces, All diagnostic kits and reagents, Exercise books and note books, Spoons, forks,
ladles, skimmers, cake servers, fish knives, tongs, Spectacles, corrective, cards, chess
board, carom board and other board games, like Ludo, rubber band, Wood, stone, metals,
marble idols, Table, etc.

Services 

State run lotteries, non-ac hotels, business class air ticket, fertilisers, work contract all
fall under the umbrella of 12% GST rate.

4. 18% tax

Goods

Most items are under this tax slab which includes footwear costing more than Rs. 500,
Trademarks, Goodwill, Software, Bidi patta, Biscuits, Flavored refined sugar, Pasta,
Cornflakes, Pastries and cakes, Preserved vegetables, Jams, Sauces, Soups, Ice-creams,
Instant food mixes, Mineral water, Tissues, Envelopes, Tampons, Note books, Steel
products, Printed circuits, Camera, Speakers, Kajal pencil sticks, Headgear and parts
thereof, Aluminum foil, Electrical transformer, CCTV, Optical fiber, Bamboo furniture,
Swimming pools and padding pools, Curry paste, Mayonnaise and salad dressings, Mixed
condiments and mixed seasonings, Tractor parts, Raincoats, Medical grade disposable
gloves, Computer monitors (upto 20 inch), Custard powder, Rice rubber rolls for paddy
de-husking machine, Kitchen gas lighters, Poster, etc.

Services

AC hotels that serve liquor, telecom services, IT services, Branded garments, Financial
services come under the umbrella of 18% rate slab.

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 5. 28%

Goods 
Bidis ,chewing gum, molasses, chocolate not containing cocoa, waffles and wafers coated
with chocolate, pan masala, aerated water, paint, deodorants, shaving creams, after shave,
hair shampoo, dye, sunscreen, wallpaper, ceramic tiles, water heater, dishwasher,
weighing machine, washing machine, ATM, vending machines, vacuum cleaner, shavers,
hair clippers, automobiles, motorcycles, aircraft for personal use.
Services 
Private-run lotteries authorized by the states, hotels with room tariffs above ₹ 7,500, 5-
star hotels, race club betting, cinema will attract tax 28 per cent tax slab under GST.

IMPACT OF GST ON VARIOUS SECTIONS OF SOCIETY

POOR CLASS:
It expanded hole between the rich individuals and the needy individuals.

1) Under the 'faultless' GST, all nourishment things secured under the general population
conveyance framework are proposed to be absolved from GST. Along these lines,
unmistakably essential sustenance articles like rice and wheat would be absolved from GST
(i.e., there will be no yield impose). Thus, the duty occurrence on such things is restricted to
charge on inputs. The GST is composed as a professional poor arrangement activity since use
on sustenance constitutes a vast extent of the aggregate utilization use of poor people.
Regardless, the poor are keep on having availability to these things at sponsored costs
through people in general circulation framework.

2) Basic wellbeing and instruction administrations are relied upon to be completely excluded
in GST administration. Since these administrations are important to meet the essential human
needs, the exception for these administrations empowers the poor to have less expensive
openness.

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3) Housing is yet another essential thing of fundamental needs of poor people. The Task
Force prescribed for the consideration of exchanges in land inside the domain of GST. This is
successfully lessen the cost of lodging to the degree of installed charges and thus, advantage
poor people.

4) Another important thing of utilization by the poor is dress. The National Council of
Applied Economic Research (NCAER) consider demonstrates that the execution of the GST
brings about sharp decrease in the cost of cotton materials (by 6.44 percent), fleece, silk and
manufactured fiber materials (by 11.4 percent) and material items including wearing attire
(by 17.45 percent). In the event that we have take add up to use on utilization, the offer of
consumption on attire like now an occurrence of poor is generally higher than rich and an
occurrence of rich and the poor pick up moderately more from extensive drop in costs.

5) The provincial poor contain basically of little and negligible agriculturists and landless
workers. Additionally, the urban poor includes the jobless. The National Council of Applied
Economic Research (NCAER) consider demonstrates that the execution of GST is the
witness an expansion in the genuine comes back to land, work and capital. In this manner, the
poor are likewise appreciate an expansion in their pay. Also, by virtue of increment in
financial action bringing about higher development, there are new open doors for work which
straightforwardly profit for the urban poor.

WHITE COLLAR CLASS:

GST brings about Win-Win circumstance for both government and normal man.
1) With GST rates out on 18-5-2017, all the need merchandise, horticultural products and
couple of restorative supplies, and so forth are assessable at NIL rate, the vast majority of
FMCG items are assessable at 5%, family unit and individual care items are exhausted at
18% against 28% in current administration, and so forth. Consequently, GST usage positively
affects the costs of different consumables for end customers with an underlying swelling thus
positively affecting working class family.

2) GST brought down the assessments on groundnut oil, palm oil, sunflower oil, coconut oil,
mustard oil, sugar, sugar candy store, pasta, spaghetti, macaroni, noodles, leafy foods things,
a few sustenance items, pickle, chutney, sweetmeats, ketchup and sauces.

3) Other family unit items that less expensive under the new assessment administration. The
rundown incorporates bond, coal, lamp fuel PDS, LPG household, insulin, worship items,

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tooth powder, hair oil, toothpaste, cleanser, X-beam films for medicinal utilize and
symptomatic packs and reagents.
4) Not just sustenance things however different things that become less costlier after the new
rates are actualized. These items are plastic covering, school pack, practice books and
journals, kites, youngsters' photo, drawing or shading books, silk and woolen textures, certain
sorts of cotton textures and particular readymade pieces of clothing, alongside footwear of Rs
500, and helmet.GST is favouring for family.

Along these lines, the above general pattern displays an inclination towards bring down
weight for low and lower centre wage family units.

PRIVILEGED:
1) Families, who falls in the classification of rich or privileged have a more costly life to lead
in the event that they choose to buy higher-end vehicles. The use goes up by 2 to 4 percent.
They spend more on instruction and home costs and likewise pay more for toiletries and
marked products as they need.

2) Buying dress and mould brands is now less expensive on the grounds that the powerful
assessment (7.5 percent) and VAT of a normal of 5 percent pennies has subdivided into GST
plates.

3) Services: State approved private-run lotteries, lodgings with room levies above Rs 7,500,
5-star inns, race club wagering, and film are on the whole under the most astounding expense
piece of 28 for each penny. Aside from other Luxury things likewise include higher
assessment then before, for example, Jewellery items, etc.

MERITS AND DEMERITS

MERITS:
1) GST is a straightforward duty and furthermore diminish number of roundabout duties.

2) GST won't be a cost to enlisted retailers in this way there is no shrouded charges and the
cost of working together will be lower.

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3) GST advantage individuals as costs are descend which thusly enables organizations as
utilization to increment.

4) There is presumably that underway and dissemination of products, administrations are

progressively utilized or expended and isolate charges for products and deeds, which is the
current tax assessment structure, requires distribute of exchange esteems into estimation of
merchandise and enterprises for tax collection, encouraging more prominent
entanglements, organizations, including acceptance costs.

5) In the GST framework, all the charges are integrated; it makes conceivable the tax
assessment burden to be fairly at a extent amongst assembling and administrations.
GST fulfils just at the last goal of utilization in view of VAT standard and not at different
focuses (from assembling to retail outlets).

6) GST helps in evacuating financial contortions and realise advancement of a typical

national market.

7) GST likewise assemble a straightforward and debasement free assessment organization.

8) GST imposed a duty on when a completed item moves out from a processing plant, which
is paid by the maker, and it is again demanded at the retail outlet when sold.

9) GST is upheld by the GSTN, which is a completely incorporated expense stage to manage
all parts of GST.

DEMERITS:

1) A level assessment spreads the taxation rate over all workers, which implies that more
individuals pay for the advantages of government, immediate or circuitous, that they get.

2) A level duty implies that the peripheral advantage of procuring a rupee is dependably the
same; there are no consistent losses to working harder to profit.

3) An income nonpartisan level duty bring down assessments on the well off, which gives
them more extra cash to spend.

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4) Since the fundamental necessities of life cost no less than a specific sum, a level
assessment cut down all the more profoundly into the extra cash of lower-pay citizens.

5) For citizens with low salary, the inconvenience of assessment could constrain them into
penury.

6) An income unbiased level assessment expands the taxation rate on poor people and white
collar class, who are enduring lopsidedly in this economy.

7) By a similar token, the peripheral utility of a Rupee diminishes as salary builds; a level
expense is, along these lines, in utilitarian terms, force a lower impose rate on high-pay
workers.

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 CONCLUSION

Implementation of GST is one of the best decisions taken by the Indian government. For the
same reason, July 1 was celebrated as Financial Independence Day in India when all the
Members of Parliament attended the function in Parliament House. The transition to the GST
regime which is accepted by 159 countries would not be easy. Confusions and complexities
were expected and will happen. India, at some point, had to comply with such regime.
Though the structure might not be a perfect one but once in place, such a tax structure will
make India a better economy favorable for foreign investments. Until now India was a union
of 29 small tax economies and 7 union territories with different levies unique to each state. It
is a much accepted and appreciated regime because it does away with multiple tax rates by
Centre and States. And if you are doing any kind of business then you should register for
GST as it is not only going to help Indian government but will help you also to track your
business weekly as in GST you have to make your business activity statement each week.
However it will be too early to judge GST. Assumptions or aspirations or hopes of utility
may go wrong. We should wait for the reports of financial agencies in coming years. Only
then, we will be able to critically analyze the GST.

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