आई.जी.एस.टी. का एक उदाहरण

आई.जी.एस.टी. का एक उदाहरण आई.जी. एस.टी. किस तरह से काम करेगा इसका एक उदाहरण हम यहाँ पेश कर रहें है इसका आप अच्छी तरह अध्ययन करें तो आप सम...

आई.जी.एस.टी. का एक उदाहरण
आई.जी. एस.टी. किस तरह से काम करेगा इसका एक उदाहरण हम यहाँ पेश कर रहें है इसका आप अच्छी तरह अध्ययन करें तो आप समझ पायेंगे कि आई.जी.एस.टी. किस तरह से कार्य करेगा :-

TRANSACTIONS OF SALES X, जो मुंबई के व्यापारी ने मुबई के ही एक और व्यापारी को  X of Mumbai sold Goods worth Rs. 10.00 Lakhs to Y of Mumbai and Y of Mumbai sold the same goods to Z of Rajasthan at Rs. 10.50 Lakhs. Now at second stage Z of Rajasthan sold the same goods to a consumer in Rajasthan at Rs.11.00 Lakhs. Suppose the rate of SGST is 8% and rate of CGST is 10%. Now this is the transaction of sale of Goods from one state to other state and now we are trying to analyze how IGST will work here.

Please note that in the example given above we have not followed the exact situation which has been mentioned in the draft of “Integrated Goods and Service Act” with respect of transfer of fund to and from the IGST to CGST and SGST because it seems to be very complicated and need some simplification of narration but what is given in this study will give you the insight of proposed working of the IGST.

RATE OF TAXES PRESUMED

S.NO.	DESCRITOPN	RATE OF TAX
1.	SGST	8%
2.	CGST	10%
3.	IGST (SGST+CGST)	18%

TAX LIABILITY OF VARIOUS DEALERS

S.N	DESCRIPTION	SGST (8%)	CGST (10%)	IGST (18%)	REMARK
1.	X of Mumbai sold Goods worth Rs. 10.00 Lakhs to Y of Mumbai.	80000.00	100000.00	NA	It is an Intra-state Sales hence SGST and CGST are Payable.
	Less:- Input Credit	NIL	NIL	NA
	Tax Deposited by X	80000.00	100000.00	NA
2.	Y of Mumbai sold the same goods to Z of Rajasthan at Rs. 10.50 Lakhs	NA	NA	189000.00	It is Inter-state sale hence IGST is Payable.
	Less:- Input Credit	NA	NA	180000.00 (SGST 80000.00 + CGST 100000.00)	In IGST the input credit of SGST and CGST paid on the goods which is sold in interstate sale is available.
	Tax Deposited by Y	NA	NA	9000.00
3.	Z of Rajasthan sold the same goods to a consumer in Rajasthan at Rs.11.00 Lakhs.	88000.00	110000.00	NA	It is intra-state sale in the state of Rajasthan hence SGST and CGST is applicable.
	Less:- Input Credit	79000.00	110000.00	NA	The total Input credit of IGST is Rs.189000.00 and it can be set of against IGST, CGST and SGST in that order of priority.
	Tax Deposited by Z	9000.00	NIL	NA

TRANSFER OF REVENUE FROM STATE TO CENTRE AND VICE VERSA

S.NO.	DESCRIPTION	AMOUNT
1.	The selling state will transfer the amount of SGST to the centre which has been taken as input credit while discharging the liability of IGST.	80000.00
2.	The centre will transfer the amount of IGST to the Consumer state which has been taken as input credit while discharging the liability of SGST.	79000.00

EFFECT OF IGST ON REVENUE OF VERIOUS CONSTITUENTS

S.NO.	DESCRIPTION OF CONSTITUENTS OF IGST
1.	The selling State
2.	The Purchasing State
3.	The Centre

THE SELLING STATE

S.NO.	DESCRIPTION	SGST	REMARK
1.	The amount of SGST deposited by the First seller	80000.00	CGST and IGST are not part of state revenue hence not considered here.
2.	Less: – The selling state will transfer the amount of SGST to the centre which has been taken as input credit while discharging the liability of IGST.	80000.00	NA
3.	Revenue of the Selling State	NIL	NA

Note- The GST is destination based tax hence the selling state will get NIL tax on inter-state transaction where goods are consumed in other state. The above calculation is supporting the same concept.

THE CONSUMER STATE

S.NO.	DESCRIPTION	SGST	REMARK
1.	The amount of SGST deposited by the seller in the Consumer state.	9000.00	CGST and IGST are not part of state revenue hence not considered here.
	Add-The centre will transfer the amount of IGST to the Consumer state which has been taken as input credit while discharging the liability of SGST.	79000.00	NA
	Revenue of the Consumer State	88000.00	NA

Note: – The sale price at consumer state is Rs.11.00 Lakhs @ 8% hence the revenue calculated at Rs.88000.00 is cross tallied and supported the same concept.

THE CENTRE

S.NO.	DESCRIPTION	CGST	IGST	TOTAL
1.	The amount of CGST deposited by the First seller in the Selling state.	100000.00	NIL	100000.00
2.	The amount of IGST deposited by the Second seller in the Selling state.	NIL	9000.00	9000.00
	Total	100000.00	9000.00	109000.00
3.	Add:-The selling state will transfer the amount of SGST to the centre which has been taken as input credit while discharging the liability of IGST.	NA	NA	80000.00
	Total	NA	NA	189000.00
	Less –The centre will transfer the amount of IGST to the Consumer state which has been taken as input credit while discharging the liability of SGST.	NA	NA	79000.00
	Result-Revenue of the Centre	NA	NA	110000.00

Note: – The sale price at consumer state is Rs.11.00 Lakhs @ 10% hence the revenue calculated at Rs.110000.00 is cross tallied and supported this concept.

This will complete the full circle of IGST.

BASIC ILLUSTRATION OF IGST

Though practically how IGST will actually work can only be understood properly when it is implemented but whatever information is  available at present from the basics which has been mentioned in the Draft law we can understand the IGST with the help of this very simple example:-

TRANSACTIONS OF SALES X of Mumbai sold Goods worth Rs. 10.00 Lakhs to Y of Mumbai and Y of Mumbai sold the same goods to Z of Rajasthan at Rs. 10.50 Lakhs. Now at second stage Z of Rajasthan sold the same goods to a consumer in Rajasthan at Rs.11.00 Lakhs. Suppose the rate of SGST is 8% and rate of CGST is 10%. Now this is the transaction of sale of Goods from one state to other state and now we are trying to analyze how IGST will work here.

Please note that in the example given above we have not followed the exact situation which has been mentioned in the draft of “Integrated Goods and Service Act” with respect of transfer of fund to and from the IGST to CGST and SGST because it seems to be very complicated and need some simplification of narration but what is given in this study will give you the insight of proposed working of the IGST.

RATE OF TAXES PRESUMED

S.NO.	DESCRITOPN	RATE OF TAX
1.	SGST	8%
2.	CGST	10%
3.	IGST (SGST+CGST)	18%

TAX LIABILITY OF VARIOUS DEALERS

S.N	DESCRIPTION	SGST (8%)	CGST (10%)	IGST (18%)	REMARK
1.	X of Mumbai sold Goods worth Rs. 10.00 Lakhs to Y of Mumbai.	80000.00	100000.00	NA	It is an Intra-state Sales hence SGST and CGST are Payable.
	Less:- Input Credit	NIL	NIL	NA
	Tax Deposited by X	80000.00	100000.00	NA
2.	Y of Mumbai sold the same goods to Z of Rajasthan at Rs. 10.50 Lakhs	NA	NA	189000.00	It is Inter-state sale hence IGST is Payable.
	Less:- Input Credit	NA	NA	180000.00 (SGST 80000.00 + CGST 100000.00)	In IGST the input credit of SGST and CGST paid on the goods which is sold in interstate sale is available.
	Tax Deposited by Y	NA	NA	9000.00
3.	Z of Rajasthan sold the same goods to a consumer in Rajasthan at Rs.11.00 Lakhs.	88000.00	110000.00	NA	It is intra-state sale in the state of Rajasthan hence SGST and CGST is applicable.
	Less:- Input Credit	79000.00	110000.00	NA	The total Input credit of IGST is Rs.189000.00 and it can be set of against IGST, CGST and SGST in that order of priority.
	Tax Deposited by Z	9000.00	NIL	NA

TRANSFER OF REVENUE FROM STATE TO CENTRE AND VICE VERSA

S.NO.	DESCRIPTION	AMOUNT
1.	The selling state will transfer the amount of SGST to the centre which has been taken as input credit while discharging the liability of IGST.	80000.00
2.	The centre will transfer the amount of IGST to the Consumer state which has been taken as input credit while discharging the liability of SGST.	79000.0

EFFECT OF IGST ON REVENUE OF VERIOUS CONSTITUENTS

S.NO.	DESCRIPTION OF CONSTITUENTS OF IGST
1.	The selling State
2.	The Purchasing State
3.	The Centre

THE SELLING STATE

S.NO.	DESCRIPTION	SGST	REMARK
1.	The amount of SGST deposited by the First seller	80000.00	CGST and IGST are not part of state revenue hence not considered here.
2.	Less: – The selling state will transfer the amount of SGST to the centre which has been taken as input credit while discharging the liability of IGST.	80000.00	NA
3.	Revenue of the Selling State	NIL	NA

Note- The GST is destination based tax hence the selling state will get NIL tax on inter-state transaction where goods are consumed in other state. The above calculation is supporting the same concept.

THE CONSUMER STATE

S.NO.	DESCRIPTION	SGST	REMARK
1.	The amount of SGST deposited by the seller in the Consumer state.	9000.00	CGST and IGST are not part of state revenue hence not considered here.
	Add-The centre will transfer the amount of IGST to the Consumer state which has been taken as input credit while discharging the liability of SGST.	79000.00	NA
	Revenue of the Consumer State	88000.00	NA

Note: – The sale price at consumer state is Rs.11.00 Lakhs @ 8% hence the revenue calculated at Rs.88000.00 is cross tallied and supported the same concept.

THE CENTRE

S.NO.	DESCRIPTION	CGST	IGST	TOTAL
1.	The amount of CGST deposited by the First seller in the Selling state.	100000.00	NIL	100000.00
2.	The amount of IGST deposited by the Second seller in the Selling state.	NIL	9000.00	9000.00
	Total	100000.00	9000.00	109000.00
3.	Add:-The selling state will transfer the amount of SGST to the centre which has been taken as input credit while discharging the liability of IGST.	NA	NA	80000.00
	Total	NA	NA	189000.00
	Less –The centre will transfer the amount of IGST to the Consumer state which has been taken as input credit while discharging the liability of SGST.	NA	NA	79000.00
	Result-Revenue of the Centre	NA	NA	110000.00

Note: – The sale price at consumer state is Rs.11.00 Lakhs @ 10% hence the revenue calculated at Rs.110000.00 is cross tallied and supported this concept.

This will complete the full circle of IGST.