• BBA in Finance
    Co-created with Jain University
    4.3 out of 5 by 211 learners
    2x
  • MBA in Investment Banking
    Co-created with Jain University
    4.5 out of 5 by467 learners
    2x industry demand
  • MBA in Fintech
    Co-created with Jain University
    4.4 out of 5 by 349 learners
    2x industry demand
  • Post Graduate Program in Business Management with NMIMS
    Co-created with NMIMS
    4.7 out of 5 by 669 learners
    4x Industry Demand
  • Post Graduate Program in Banking and Credit Underwriting
    4.7 out of 5 by 1376 learners
    12 X industry demand
  • Post Graduate Program In Finance And Accounting
    Co-created with Grant Thornton
    4.9 out of 5 by 238 learners
    14 X industry demand
  • Professional Certification in FinTech
    Co-created with SP Jain School of Global Management
    4.6 out of 5 by 1421 learners
    6X industry demand
  • Credit Risk and Underwriting Prodegree
    Co-created with Moody’s Analytics
    4.6 out of 5 by 1139 learners
    4X industry demand
  • Banking And Wealth Management Bootcamp
    4.6 out of 5 by 1429 learners
    3X industry demand
  • Post Graduate Program In Capital Markets
    4.7 out of 5 by 807 learners
    3X industry demand

Last week, the Indian Parliament passed what would be the single most important tax reform after 1947, the GST bill, which will, according to Anand Mahindra, unleash the tiger.
“In 1991, a new liberalized India was born. I believe 2016 will propel India to reach its true potential. After the sweeping FDI reforms in June, the Rajya Sabha passed the landmark GST Bill last week, which I truly believe will unleash the ‘caged tiger’ – India’s huge common market – which for inexplicable reasons, we had kept divided,”

What is GST?

The Goods and Services Tax (GST) is one single tax on any supply of goods or services. When the GST comes into effect, our current indirect taxation method, a bane for businesses and boon for corruption, will give away to a cleaner direct method that will replace a dozen indirect taxes levied by both the center and the state. It will encourage tax compliance and streamline tax credits. The dozens of taxes currently levied are VAT, CST, central excise, state excise, service tax, CVD, SAD so on and so forth.
How would it work?
It works by a system of set-offs and credits. Let’s start with a pencil manufacturer. He buys raw materials, wood, lead and rubber worth Rs 100 which includes a tax of Rs 10. He uses the raw materials to make a box of pencils. In the process of making a pencils, he adds value of Rs 30, and will therefore sell the box of pencils for 130 rs.
At a tax rate of 10%, he will then have to pay Rs 13 as tax output. However under GST, he can set the 13 against the 10 he already paid in effect and only pay the difference of Rs 3.
The Pencil manufacturer has of course now sold that pencil to a wholesaler for Rs 130. The wholesaler adds a margin of Rs 20 and sells it on to a shop for Rs 150. Let’s assume he pays another tax of 10% which would make it Rs 15. But again GST would mean, he offsets the Rs 15 against Rs 13 of tax already paid. His effective tax outflow is only Rs 2.
Finally the box goes to the retailer for Rs 150, who adds value by way of Rs 10 and sells it to you for Rs 160. The gross tax on this would have been 10% or Rs 16. But the retailer again, offsets Rs 16 against the total of rs 15 that has been paid so far and pays Rs 1 in taxes.
Before GST, there was a lot adding taxes on taxes and something that should have cost you only Rs 160, would have ended up costing you Rs 208 because no one wants to actually bear taxes themselves. Currently we have a VAT system, where there is some offsetting but VAT does not cover Luxury and entertainment tax or octroi.

For Online Course Enquiries
About Imarticus
Imarticus Learning is India’s leading professional education institute that offers training in Financial Services, Data Analytics & Technology. We’ve successfully transformed careers of over 35,000+ individuals globally through our Certification, Prodegree, and Post Graduate programs offered in association with leading and renowned global organisations in the Financial Services, Data Analytics & Technology domain.
Related course
  • Placement Assistance
    BBA in Finance
    Co-created with Jain University
    Course duration(Months)
    4
    Upcoming batches
    1
    Organizations enrolled
    20
    4.3 out of 5 by 211 learners
    2x
    Upcoming Batches
    Date Location Schedule
    31st July ONLINE Online
    Date Location Schedule
  • Recent Graduates
    MBA in Investment Banking
    Co-created with Jain University
    Course duration(Months)
    24
    Upcoming batches
    1
    Organizations enrolled
    20
    4.5 out of 5 by467 learners
    2x industry demand
    Upcoming Batches
    Date Location Schedule
    31st July ONLINE Online
    Date Location Schedule
  • Recent Graduates
    MBA in Fintech
    Co-created with Jain University
    Course duration(Months)
    24
    Upcoming batches
    1
    Organizations enrolled
    20
    4.4 out of 5 by 349 learners
    2x industry demand
    Upcoming Batches
    Date Location Schedule
    31st July ONLINE Online
    Date Location Schedule
  • Placement Program
    Post Graduate Program in Business Management with NMIMS
    Co-created with NMIMS
    Course duration(Months)
    24
    Upcoming batches
    1
    Organizations enrolled
    20
    4.7 out of 5 by 669 learners
    4x Industry Demand
    Upcoming Batches
    Date Location Schedule
    ONLINE Online
    Date Location Schedule
  • Post Graduate
    Post Graduate Program in Banking and Credit Underwriting
    Course duration(6)
    Upcoming batches
    1
    Organizations enrolled
    20
    4.7 out of 5 by 1376 learners
    12 X industry demand
    Upcoming Batches
    Date Location Schedule
    Not Available MUMBAI Online
    Date Location Schedule
  • Post Graduate
    Post Graduate Program In Finance And Accounting
    Co-created with Grant Thornton
    Course duration(months)
    4
    Upcoming batches
    1
    Organizations enrolled
    20
    4.9 out of 5 by 238 learners
    14 X industry demand
    Upcoming Batches
    Date Location Schedule
    None DELHI Online
    Date Location Schedule
  • Certification
    Professional Certification in FinTech
    Co-created with SP Jain School of Global Management
    Course duration(Months)
    3
    Upcoming batches
    1
    Organizations enrolled
    20
    4.6 out of 5 by 1421 learners
    6X industry demand
    Upcoming Batches
    Date Location Schedule
    ONLINE Online
    Date Location Schedule
  • PRODEGREE
    Credit Risk and Underwriting Prodegree
    Co-created with Moody’s Analytics
    Course duration(Months)
    3
    Upcoming batches
    2
    Organizations enrolled
    20
    4.6 out of 5 by 1139 learners
    4X industry demand
    Upcoming Batches
    Date Location Schedule
    13th February ONLINE Weekend
    Date Location Schedule
    29th May ONLINE Weekend
  • Certification
    Banking And Wealth Management Bootcamp
    Course duration(Months)
    2-3
    Upcoming batches
    1
    Organizations enrolled
    20
    4.6 out of 5 by 1429 learners
    3X industry demand
    Upcoming Batches
    Date Location Schedule
    30th January LUCKNOW Weekend
    Date Location Schedule
  • Post Graduation
    Post Graduate Program In Capital Markets
    Course duration(months)
    4
    Upcoming batches
    1
    Organizations enrolled
    20
    4.7 out of 5 by 807 learners
    3X industry demand
    Upcoming Batches
    Date Location Schedule
    Not Available ONLINE Online
    Date Location Schedule