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  TRAINING ON GST By Prof. VijayakumarR Head, Department of Commerce DEPARTMENT OF COMMERCE  Thursday, February 8, 2018 What is GST? ã  GST is a Tax on Goods and Services. ã  Tax is levied at every point of value chain-from production/import point to consumption point. ã  Tax is levied only on value addition-withinput tax credit facility, no tax cascading atany stage.  Thursday, February 8, 2018 Current Central taxes on goods   and services ã  Excise duty on manufacture of goods with inputtax credit facility-input tax credit available onlyon procurement from another manufacturer or under excise net-tax paid on services used asinputs also available for rebate. ã  Customs Duties on import of goods. ã  Tax on certain identified services with credittowards tax paid on both services and goodsused as inputs.  Thursday, February 8, 2018 Current State taxes on goods ã  Karnataka Sales Tax on sale or purchase of petrol,aviation fuel, diesel and sugarcane-single point levy-tax levied even on Central Excise Duty component of the sale price. ã  Karnataka Value Added Tax on sale or purchase of allother goods at all points with a facility of input taxrebate - tax levied even on Central Excise Dutycomponent of the sale price. ã  Entry tax on certain notified goods into local areas-single point levy-is in lieu of Octroi. ã  Tax on inter-State sale of goods though a Central tax,collected and retained by the State.
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