PPT: Returns | Taxation for CA Intermediate PDF Download

 Page 3


? Goods and Services Tax is the new unified, multi-
stage and consumption based tax levied on 
manufacture,
? sale and consumption of Goods and Services at 
national level to replace all the existing national 
and state tax systems like VAT, Service Tax, 
Excise Duty, etc.
? It is expected to remove the cascading effect of 
tax-on-tax which is prevalent presently.
? It is applicable to you if you are into 
Manufacturing, Trade, E-commerce or Services.
Page 4


? Goods and Services Tax is the new unified, multi-
stage and consumption based tax levied on 
manufacture,
? sale and consumption of Goods and Services at 
national level to replace all the existing national 
and state tax systems like VAT, Service Tax, 
Excise Duty, etc.
? It is expected to remove the cascading effect of 
tax-on-tax which is prevalent presently.
? It is applicable to you if you are into 
Manufacturing, Trade, E-commerce or Services.
? A return is a 
document 
containing details 
of income which a 
taxpayer is 
required to file 
with the tax 
administrative 
authorities. This 
is used by tax 
authorities to 
calculate tax 
liability.
Page 5


? Goods and Services Tax is the new unified, multi-
stage and consumption based tax levied on 
manufacture,
? sale and consumption of Goods and Services at 
national level to replace all the existing national 
and state tax systems like VAT, Service Tax, 
Excise Duty, etc.
? It is expected to remove the cascading effect of 
tax-on-tax which is prevalent presently.
? It is applicable to you if you are into 
Manufacturing, Trade, E-commerce or Services.
? A return is a 
document 
containing details 
of income which a 
taxpayer is 
required to file 
with the tax 
administrative 
authorities. This 
is used by tax 
authorities to 
calculate tax 
liability.
? Purchases
? Sales
? Output GST (On sales)
? Input tax credit (GST paid on purchases)
? To file GST returns, GST compliant sales and 
purchase invoices are required.