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GST Invoice Preparation and Tax Computation

The document discusses key aspects of the Goods and Services Tax (GST) in India such as [1] preparing a tax invoice, [2] outlining the registration procedure, [3] showing sample GST rates, and [4] computing tax liability with examples. It also [5] lists some exempted goods and services under GST.

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553 views5 pages

GST Invoice Preparation and Tax Computation

The document discusses key aspects of the Goods and Services Tax (GST) in India such as [1] preparing a tax invoice, [2] outlining the registration procedure, [3] showing sample GST rates, and [4] computing tax liability with examples. It also [5] lists some exempted goods and services under GST.

Uploaded by

gadiyasiddhi0
Copyright
© All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd

Goods and Services Tax

Skill Development

(6 Marks)

1. Prepare a tax invoice under the GST Act.

Goutham.S, Assistant Professor, Dept. of Commerce and Management Page 1


Seshadripuram College, B-20
Goods and Services Tax

2. Write the procedure for registration under GST.


Procedure for Registration
➢ Application for registration
➢ Verification of application & Approval
➢ Issue of Registration certificate
➢ Display of registration certificate & GSTIN on the Name board.
➢ Amendment of Registration.

Goutham.S, Assistant Professor, Dept. of Commerce and Management Page 2


Seshadripuram College, B-20
Goods and Services Tax

3. Prepare a chart showing rates of GST.

Special Rates:

0.25% - Cut and semi polished precious stones other than diamonds, synthetic stones

3% - Gold, Diamonds, Pearls, Platinum, Silver

Goutham.S, Assistant Professor, Dept. of Commerce and Management Page 3


Seshadripuram College, B-20
Goods and Services Tax

4. Compute taxable value and tax liability with imaginary figures under CGST, SGST and IGST.

Computation of taxable value and tax liability with imaginary figures

Sl. Particulars Treatment CGST SGST IGST


No. &Amount
1 Services provided to RBI 2,00,000 18,000 18,000 -
(2,00,000x18%x1/2)
2 Arial Advertisement (1,00,000x18%x1/2) 1,00,000 9,000 9,000 -
3 Services rendered for agricultural purpose - Exempted - - -
5,00,000 Rs.
4 Placement services (50,000 x 18%x1/2) 50,000 4,500 4,500 -
5 Health care services – 1,00,000 Rs. Exempted - - -

6 Services rendered in Jammu and Kashmir 1,00,000 - - 18,000


(1,00,000x18%)
Total 4,50,000 31,500 31,500 18,000

Total Taxable Value = Rs. 4,50,000


Total Tax Liability = CGST – Rs. 31,500
SGST – Rs. 31,500
IGST – Rs. 18,000

Goutham.S, Assistant Professor, Dept. of Commerce and Management Page 4


Seshadripuram College, B-20
Goods and Services Tax

5. List out the exempted Goods and Services under GST.

Goutham.S, Assistant Professor, Dept. of Commerce and Management Page 5


Seshadripuram College, B-20

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