“ THE VALUATION UNDER GST”

WITH
CA YOGESH BHAGAT AND COMPANY
 SAVITRIBAI PHULE PUNE UNIVERSITY UNDER

THE FACULTY OF COMMERCE,

PROJECT REPORT FOR: M.COM (PG)

SUBJECT :-
“ THE VALUATION UNDER GST”
WITH
CA YOGESH BHAGAT AND COMPANY

STUDY BOARD:-
BUSINESS ADMINISTRATION RESEARCHER :
AMIT MADHUKAR SALUNKE
ROLL NO: 5712

GUIDENCE FROM :
CA. YOGESH PADURANG BHAGAT
(C.A, M.COM)

RESEARCH CENTRE:-
DEPARTMENT OF COMMERCE & POST GRADUATE
RESEARCH CENTRE, B.J.S COLLEGE OF ARTS,
COMMERCE & SCIENCE WAGHOLI, PUNE 412207.
YEAR-2018-19
1
SR.NO CONTENTS PAGE

1.1 Introduction

1.2 Company Profile

2
1.2 Statement of Problem

1.3 Significance of Study

1.4 Objectives of the Study

1.5 Statement Of the Hypotheses

1.6 Limitations of the Study

1.7 Classification of the Research Element

1.8 Sample Selection Method

1.9 Sources of Information Collection:-

A. Primary Data:-

B. Secondary Data

1.10 Structure of the Study

A. Bibliography

B. Guide/ Researcher
1.1: Introduction:-

GST:-
The introduction of Goods and Services Tax (GST) would be a
very significant step in the field of indirect tax reforms in India.
By amalgamating a large number of Central and State taxes into a
single tax, it would mitigate cascading or double taxation in a
major way and pave the way for a common national market. From
the consumer point of view, the biggest advantage would be in
terms of a reduction in the overall tax burden on goods, which is
currently estimated to be around 25%-30%. Introduction of GST
would also make Indian products competitive in the domestic and
international markets. Studies show that this would have a
boosting impact on economic growth. Last but not the least, this
tax, because of its transparent and self-policing character, would
be easier to administer.

 GST is a consumption based tax levied on sale, manufacture and

consumption on goods & services at a national level. This tax will
be substitute for all indirect tax levied by state and central
government. Exports and direct tax like income tax, corporate tax
and capital gain tax will not be affected by GST. GST would apply
to all goods other than crude petroleum, motor spirit, diesel,
aviation turbine fuel and natural gas. It would apply to all services
barring a few to be specified. With the increase of international
trade in services, GST has become a global standard. The proposed
 tax system will take the form of “dual GST” which is concurrently
levied by central and state government. This will comprise of:

 Central GST (CGST) which will be levied by Centre

 State GST (SGST) Which will be levied by State
 Integrated GST (IGST) – which will be levied by Central
Government on inter-State supply of goods and services.
Company Profile :
Introduction Firm of CA:-
Accountancy firm is well recognized firm in the area
where it is located in the Pune city. It was started for businessman,
trading concern individual. Now the firm is rendering
comprehensive professional services in the areas of tax consultancy.
It focuses on professional practice providing high quality services
and integrating value added knowledge.

Historical Background of Organization:-

“YOGESH BHAGAT AND COMPANY” chartered accountants

was established in April 2012 under the registration no. - 133270w.
1.3:- Significance of the Study:-

1. Change of taxation from production to consumption: This

will lead to reduce in revenue of production states. Central
government promised to cover this revenue reduction.

2. Elimination of Cascading of taxes: as all taxes will be

covered within GST, there will be no Cascading of taxes.
There will be a reduction in end consumption cost.

3. Interlocking of taxation all along the supply chain: This

will enhance tax compliance. There will be a reduction in
corruption with tax inspectors etc.

4. Single indirect tax window: Almost all indirect taxes are

subsumed exempting few like custom duty etc. Until now
five rates have been proposed. zero rate for essential
commodities ,5% for cosmetics of daily use like soaps,
shampoos, 12%, standard 18% and 28%for single goods

1.4 Objectives of the Study:-

 To study of GST and how to calculate GST .

 To find out the benefits an assessee.

 To study the responsibilities of GST process.

 To understand the process of GST Registration.

 To detailed study of GST In India

 1.5 Hypotheses of Study:-

There is no association between socio-economic profile of the

respondents such as age, gender, studied course, education status,
occupational status and level of knowledge of the students on issue of
GST

1.6 Limitations of the Study:-

1. The research work is limited to RMC company in pune.

2. The information collected by the researcher is only subject to
limited Period, changes may occur from time to time.
3. The research data fully not accurate given by the company.
 1.7 Classification of the Research Element:-

Components of GST :-
There are 3 taxes applicable under GST: CGST, SGST &
IGST.

1) CGST: Collected by the Central Government on an intra-

state sale (Eg: Within Maharashtra)
2) SGST: Collected by the State Government on an intra-
state sale (Eg: Within Mahaashtra)
3) IGST: Collected by the Central Government for inter-state
sale (Eg: Maharashtra to Tamil Nadu)

In most cases, the tax structure under the new regime will
be as follows:

Transacti New Old Regime

on Regim
e

Sale CGST VAT + Central Revenue will be shared equally

within the + Excise/Service between the Centre and the State
State SGST tax

Sale to IGST Central Sales There will only be one type of tax
another Tax + (central) in case of inter-state sales.
State Excise/Service The Center will then share the IGST
Tax revenue based on the destination of
goods.
1.8 Sample Selection Method:-

Research Type : Descriptive Research

Sampling Unit : Suyesh RMC

Sampling Size : Sale & Purchase details

Geographical Boundaries : Pune Region

Research Instrument : Party Sale & Purchase data, Tally

Data , GST Books
1.9 Sources of Information Collection:-

I. Primary Sources

Primary source are original source from which the researcher

directly collects data that has not been previously collected.
The primary data are first-hand information collected through
various methods such as observation, interviewing, mailing
etc

1. Discussion :

The required primary data was acquired through the

method of Chartered Accountant discussion. This method is
helpful to get lot of information about.

a. The history of GST

b. The GST services by Chartered Accountant

c. Other GST information

d. How to GST calculation

e. How to GST return filling Process.

II. Secondary Sources :

The secondary data is one which is already collected by

someone for some purpose. Which data is collected from profit
and loss, balance sheet annual report of companies?

The secondary data is under the internal sources of the

data collection are sales and purchase record distribution report.

Secondary data is collected through following sources.

2. Published Sources :

• Official website: Information relating to GST history and

company gathered from official web portal.

8
1.10 Structure of the Study:
Descriptive studies, as their name implies to describe
something for example, the characteristics of users of a given
products; degree of to which product use varies with
income.age,sex.or other characteristics; or the number who
saw a specific television commercial. In this project we are
using descriptive research method because we are studding
GST process of Suyash RMC by Yogesh Bhagat &
Company. We are using the Tally Backup, Sale & Purchase
Invoice , Bank Statement, & official website to gathering the
information about GST procedure of Suyash RMC and New
Khadki Medico by Yogesh Bhagat & Company. This report
in the type of secondary descriptive data.

9
1.10 Structure of the Research Report:-

Chapter 1st : Introduction

1.1: G S T

1.2 : Launch

1.3: Definitions

Chapter 2nd : COMPANY PROFILE

2.1 : Introduction

2.2 : Goals, Vision and Mission

2.3 : Services

Chapter 3rd : OBJECTIVE & SCOPE

3.1 : Objective of Study

3.2 : Scope of Study

Chapter 4th : Therotical Background

4.1 : Benefits of GST

4.2 : Components of GST

4.3 : Tax Laws before GST

4.4 : GST Rate

Chapter 5th : RESEARCH METHODOLOGY

5.1 : Introduction

5.2 : Definitions

5.3 : Types of Data Collection

Chapter 6th : DATA ANALYSIS & INTERPRETATION:

6.1 : CALCULATOIN OF GST

6.2 : Difference between VAT and GST

Chapter 7th : FINDINGS :

Chapter 8th : SUGGESTION AND RECOMMENDATION:

.

Chapter 9th : LIMITATIONS:

9.1 : Limitations of the study :-

Chapter 10th : CONCLUSION :

10. 1 : CONCLUSIONS :-
10.2 : BIBLOGRAPHY :-
Bibliography:-

A) Books and articles:

1. UPPAL R.K., (2017), E-BANKING CHALLENGES &

OPPORTUNITIES, NEW CENTURY PUBLICATION.

2. NAGPAL AMITABH, (2008), PRINCIPLES &

PRACTICE OF E-BANKING, MACMILLAN EDU

PUBLICATION.

B) Websites:

www.onlinesbi.com

www.ebankingscenario.com

www.ebanking.com

GUIDE/ RESEARCHER:

RESEARCHER: GUIDE:
AMOL SUBHASH TULJAPURE PROF. SHAIKH SHAYIN
YASIN
ROLL NO: 5806
M.A, M.PHIL (ECO)