GST - Goods & Service Tax

GST - Goods & Service Tax

·         W.e.f  01.07.2017

·         Biggest reform in the Indirect tax regime.

·         One Nation  - One Tax  - One Market

·         Formulae is IGST(5%) = CGST (2.5%) + SGST/UTGST (2.5%)

·         Single Tax - Right from the Manufacturer to consumer.

·         Transaction based tax.

·         Five tax slabs  - 0%, 5%, 12%, 18% and 28%

·         GST - governed by GST council which consists of Finance Ministers of Union Government and All states.

·         Changed  from Origin based tax to Destination based Tax.

CGST	Levied by the Central Govt
SGST	Levied by the State Govt
UTGST	Levied by the UT Govt
IGST	Levied by the Central Govt on interstate supplies and on Imports of Goods

·         The following Central and State taxes are subsumed/included/merged into GST:

a)      Central Excise Duty (including additional duties of Excise)

b)      Service tax

c)      CVD (Levied on imports in lieu of Excise Duty)

d)      SACD (Levied on imports in lieu of VAT)

e)      Central Sales Tax(CST)

f)       Surcharges and Cesses.

g)      Octroi/Entry tax

h)      Purchase tax

i)        VAT

j)        Entertainment tax

k)      Luxury tax

l)        Tax on lottery, betting and gambling

·         The following taxes are not subsumed/ not included into GST

1.      Income Tax

2.      Customs duty

3.      Export duty

4.      Property tax

5.      Stamp duty

6.      Seniorage charges

GST is not applicable  on Petroleum products, Electricity and Alcohol.

·         The list of exempted Goods and Services are kept to a minimum and harmonised for Centre and States as far as possible.

·         The credit permitted to be utilised in the following manner:

a)      ITC of CGST allowed for payment of CGST & IGST in that Order.

b)      ITC of SGST allowed for payment of SGST & IGST in that Order.

c)      ITC of IGST allowed for payment of IGST, CGST & SGST.

GSTIN

ü  Full form : Goods & Service Tax Identification Number

ü  Assigned to every GST dealer.

ü  15 digit GSTIN based on State wise PAN (Permanent Account Number)

1	2	3	4	5	6	7	8	9	10	11	12	13	14	15
State Code		PAN number of the Tax payer										No of registration within the state	Z	Check Code

Advantages:

·         Create unified common national market for India.

·         Giving a boost to Foreign Investment and “Make in India Campaign”

·         Boost export and Manufacturing activity and leading to substantive economic growth.

·         Help in poverty eradication by generating more employment.

·         Uniform SGST and IGST rates reduce the incentive for tax evasion.

·         Simple tax based system online

·         Uniform prices followed throughout the country.

·         Transparency prevails in taxation system.

·         Higher threshold achieved for registration.

·         Composition scheme for small business

·         The number of compliance is lesser.

·         Defined treatment for E-commerce operations

·         Improved efficiency of logistics

·         Unorganised sector is regulated under GST

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Some Important questions in Traffic Accounts

Some Important questions in Traffic Accounts.  Its not complete list. My advice is to read and cover entire syllabus irrespective of Important or Not Important.  Subsequently put more preference for important ones because they are repeatedly asked in previous examinations as well as for importance they associated with in working of Indian Railways.

1.  LTTC - Long Term Tariff Contract
2. STS - Station To Station Rates
3. LWIS - Liberalized Wagon Investment Scheme
4. PFT - Private Freight Terminal
5. SLR Leasing
6. Non fare Revenue
7. Tatkal
8. Premium Tatkal
9. Premium trains
10. Traffic Suspense
11. Station Outstandings
12. Traffic Book and its parts
13. Apportionment of Earnings
14. Earnings Budget
15. Cash in transit
16. Role of TIA in preventing leakage of Revenue
17. Objects of Traffic Accounts Office
18. Dynamic Pricing policy
19. FOIS - Freight Operations Information System
20. COIS - Coach Operations Information System
21. UTS - Unreserved Ticketing System 
22. Terminal charge
23. Piligrim tax
24. Non Issued ticket
25. Wagon Turn Round
26. Withdrawals from Station earnings
27. Way Leave charges

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Book keeping - various posts in the Blog

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Allocations questions in various General Expenditure question papers

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General Expenditure question papers

Finance Code code volume 2 - PDF copy

Click for PDF copy of Finance Code Volume 2

Hand book on Internal Checks - Railway Accounts

Hand book on Internal checks - by Central Railway in 2015

Capital Expenditure - Finance Code 2 - Common detailed heads - Unique feature

Capital Expenditure - Finance Code 2 - Common detailed heads - Unique feature

To save the space, the common detailed heads in Plan Head 11 - New Lines (Construction) are equally applicable to the following Plan Heads.

Plan Head	Description
14	Gauge conversion
15	Doubling.
16	Traffic facilities-Yard remodelling and others
18	Railway Research
29	Road Safety Works � Conversion of Unmanned Level Crossings into Manned Level Crossings.
30	Road Safety Works �Conversion of Level Crossings  into Road over Bridges/Road under Bridges.
31	Track renewals.
32	Bridge work.
35	Electrification projects.
36	Other Electrical works.
37	Traction Distribution Works
42	Workshops including Production Units
53	(i) Passenger Amenities. (ii) Other Railway User Amenities.
64	Other specified works.
81	Metropolitan Transport Projects.
83	New Lines (Construction)- Dividend free projects

                                                                              

Click for Finance Code Volume 2

Tenders & Contracts - Study material

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 by Bhusaval training centre

Count down for Appendix 3 Examination

Link for modified Time Table

Video Lesson on Operating Ratio -2016 Books & Budget Question Paper (Without books)

Compendium on Circulars issued by Transformation cell -2018

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issued up to November, 2018 by Transformation Cell

Leave rules

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Leave rules

Differences between NPS and Old Pension System

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 between NPS and Old Pension System

NPS and Old Pension system differences

SOP PPT by Shri Afzaludin, Sr.AFA/SCR

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OOT Works - Out Of Turn Works

Out of Turn Works - OOT Works

(many times asked. Very important question for GRP & General expenditure optional)

Click for PDF article on OOT works

ü Definition:  Works that are to be undertaken during a year, provided neither provided in the Sanctioned works in the current year, nor included in the Sanctioned works of Previous years.

ü  Execution authority - should justify the need to undertake the work immediately (though not included in the Sanctioned works) and also why it could not be anticipated/included in the Pink Book/LAW.

ü Funds should be provided for OOT works - duly re appropriated within the same Plan Head from the Itemized works.

ü CPDE - Chief Planning and Design Engineer   /   CE/P&D - Chief Engineer/Planning & Design  - Nodal officer for OOT works in a Zonal Railway.

ü Prior Finance Concurrence of PFA/Sr.DFM is required for OOT works in Zonal Railway & Division respectively.  

ü  Passenger Amenities works :-

1.   Emphasis / Importance should be on creation of amenities of durable and lasting nature.

2.    Funds should not be frittered / wasted on provision of superficial items like furnishings & furniture etc.

ü Funds provided for OOT woks should be duly re appropriated within the same Plan Head from itemized works.

ü Safety works under OOT - Should be completed within a maximum period of 8 months from the date of sanction of Detailed Estimate.  Otherwise, the object of OOT for safety works itself is defeated.

ü Before obtaining Out of turn sanction of GM for traffic facilities/ line capacity work, approval of PCOM should be taken.  

ü Administrative approval of GM/DRM as stated below - should be obtained before incurring expenditure on out of turn basis.

Plan Heads	Sanctioning Powers (as per MSOP)		Remarks
	GM	DRM
PH 5300- Passengers & Other user amenities	2.5 Crores per case	2.5 Crores per case	Annual ceiling of Rs.25 Crores (other than Lumpsum grant) for non-safety items. This restriction is not applicable in case of Safety works.
PH 5200 - Staff amenities	1 Crore	Nil
Other Plan Heads	2.5 Crores per case	Nil
M & P Items	10 lakhs per case	Nil	Annual ceiling is Rs. 50 lakhs.  However, all such proposals together with M&P items sanctioned at CME level under LAW should be within the Lump sum grant given by the Board.

ü  The above table useful for SOP related questions in the examination.

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IREPS - Hindi material

 Click below for article written by Shri Lalan, AA/Northern Railway, Baroda House 

IREPS - Hindi material

Compendium on 7th Pay Commission - Establishment matters

Compendium on 7th Pay Commission - Establishment matters

Click here

Key to Question papers of Appendix 3 Exams

Key for GRP 2015 Question paper

Key for Book keeping 2015 question paper

Key for Books & Budget (with books & Without books) 2012 question paper


Key for General Expenditure (with books) 2012

Key for GRP 2010

GeM - Government E Marketplace - Article in Hindi

Click below for article on GeM (Hindi) - by Shri Lalan Jee, AA/Baroda House/N.Rly Hqrs, New Delhi

GeM - Hindi

Demand No.80 - Video Lesson

Stores material - By Smt Savitri Mahipati, AFA/Training/Ctara

Stores material - By Smt Savitri Mahipati, AFA/Training/Ctara

Click here Part One     Click here for Part Two

Stores Material - SCR Stores Dept

SCR Stores Dept Study material 

Click here

GRP study material compiled by Shri Dhamodharan, AA/Chennai

GRP study material compiled by Shri Dhamodharan, AA/Chennai during his training at Ctara in 2012

Click here

GST

GST AND SALIENT FEATURES
(By Shri Joseph Selvakumar, SSO(A)/Trichy )

GST represents Goods and Service Tax implemented on July 01, 2017 through the 101 Amendment of Constitution of India by the Government.

GST is a single tax on supply of Goods and Services, right from the manufacturer to the consumer.

The final consumer will thus bear only the GST charged by the last dealer in the supply chain, with set off benefits at all the previous stages.

GST has been envisaged as a more efficient tax system neutral in its application and distributional attractive.

GST are divided into five tax labs for collection of tax i.e., 0%, 5%, 12%, 18% and 28%.

The tax rates, rules and regulations are governed by GST council which consists of finance ministers of Centre and all the States.

SALIENT FEATURES OF GST

The introduction of GST would be a very significant step in the field of indirect tax reforms in India.

By amalgamating a large number of taxes, it would mitigate cascading or double taxation in a major way and pave the way for a common natural market.

The overall tax burden is reduced and Indian product become competitive in domestic and international markets.

GST is applicable on sale of Goods and Services as against the present concept of tax on the manufacture of goods.

GST would be destination based Tax as against the present Concept of Origin based tax.

The GST levied by the Centre is called CGST and that to be levied by State is SGST.

An integrated GST (IGST) would be levied on interstate supply of Goods or Services.  This is collected by Central Government.

Import of Goods or Services would be treated as interstate supplies and would be subject to IGST in addition to applicable custom duties.

GST has replaced the following taxes which were collected by Central Government:

Central Excise Duty (including additional duties of Excise)

Service tax

CVD (Levied on imports in lieu of Excise Duty)

SACD (Levied on imports in lieu of VAT)

Central Sales Tax(CST)

Excise Duty levied on medicine & toiletry preparations

Surcharges and Cesses.

State taxes that would be subsumed within GST are:

VAT / Sales Tax

Entertainment Tax

Luxury Tax

Taxes on lottery, betting and gambling

Surcharges and Cesses.

The list of exempted Goods and Services are kept to a minimum and harmonised for Centre and States as far as possible.

The credit permitted to be utilised in the following manner:

ITC of CGST allowed for payment of CGST & IGST in that Order.

ITC of SGST allowed for payment of SGST & IGST in that Order.

ITC of IGST allowed for payment of IGST, CGST & SGST.

Create unified common national market for India, giving a boost to Foreign Investment and “Make in India Campaign”

Boost export and Manufacturing activity and leading to substantive economic growth.

Help in poverty eradication by generating more employment.

Uniform SGST and IGST rates reduce the incentive for tax evasion.

Simple tax based system online

Uniform prices followed throughout the country.

Transparency prevails in taxation system.

Higher threshold achieved for registration.

Composition scheme for small business

The number of compliance is lesser.

Defined treatment for E-commerce operations

Improved efficiency of logistics

Unorganised sector is regulated under GST

GST would apply to all Goods and Services except alcohol for human consumption.

GST on five specified petroleum products (Crude, Petrol, Diesel, ATF & Natural Gas) would be applicable from a date to be recommended by the GST council.

Exports would be zero rated.

A common threshold exemption would apply to both CGST & SGST tax payers with an annual turnover of Rs.20 Lakhs (Rs.10 Lakhs for special category States as specified in article 279A of the constitution) would be exempt from GST.

Delay in implementing GST

Increased costs due to software purchase.

Being GST compliant.

Increase in operational costs due to GST implementation may affect existing costs.

GST was introduced in the middle of financial year.

GST is an online taxation system.

SME’s will have a higher tax burden.

GSTIN

GSTIN refers to GST Identification Number assigned to every GST dealer.

Before GST was implemented, all dealers registered under the State VAT law were assigned a Unique TIN Number by the respective State Tax Authorities.

Similarly, service providers were assigned a service tax registration number by the Central Board of Excise and Custom (CBEC)

Going forward in the new GST regime all registered tax payers will get consolidated into one single platform for compliance and administration purposes and will be assigned registration under a single authority.

It is expected that 8 million tax payers will be migrated from various platforms to GST.

All of these businesses will be assigned a unique Goods and Services Tax Identification Number (GSTIN)

Each tax payer is assigned a State wise PAN based 15 digit GSTIN.

The first 2 digit represents the State Code as per Indian Census 2011.  The next 10 digit will be PAN number of the tax payer. The thirteenth digit will be assigned based on the number of registration within a state.  The fourteenth digit will be Z by default. The last digit will be for check code. It may be an alphabet or number.