[Economy Lecture] GST Goods & Services Tax 122nd Amendment, GDP Calculation Methods & CSO Base Year Revision

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  1. Prologue
  2. L4/P8: Goods and services tax (GST)
  3. L5/P1: GDP Calculation Methods & CSO revision


  • The economic survey related articles will be published after I’m done reading and researching myself.
  • In the meantime, here’s the recoding of my lecture series on budget and economic survey at SPIPA, Ahmedabad.
  • Third Second Session 2:30 hours- covering two major topics GST and GDP.
  • PowerPoint of the lecture, available at Mrunal.org/Download
  • Medium of instruction- Hindi.
  • English version not possible for the moment, because I’m required to teach at this batch, in Hindi/Gujarati only. Besides, same content is available in English-text articles or English PPTs on the site.

L4/P8: Goods and services tax (GST)

GST Goods and Services Tax

  1. recap of the previous lectures on fiscal policy
  2. sales tax and cascading effect explained
  3. Value added tax (VAT) and input credit system.
  4. What are MODVAT and CENVAT?
  5. Why do we need goods and services tax?
  6. 122nd constitutional amendment Bill 2014: salient features of.
  7. GST council: structure and functions
  8. list of union and states indirect taxes to be subsumed under GST regime
  9. What are CGST, SGST and IGST
  10. Four benefits of GST: Efficient logistics and warehousing, Ancillarisation, Same “Base” computation and Zero rated Exports.
  11. Four Challenges in implementation: High revenue neutral rate (RNR), Compensation to states & 14th Finance commission, Registration threshold and Misc. issues.

Youtube Link: https://youtu.be/U6HF7Q3Yo_0

L5/P1: GDP Calculation Methods & CSO revision

GDP calculation

  1. definition and formulas of Gross Domestic Product (GDP), GNP, NNP, net national income and net disposable income
  2. Three methods of calculating GDP: income method, expenditure method and production or gross value added (GVA) method.
  3. Modification done by CSO (Central statistical Organisation) in the calculation of GDP and its base year
  4. Criticism against the new CSO method for calculating GDP.
  5. Sectoral growth rate data from economic survey, ascending descending orders for MCQs.

Youtube Link: https://youtu.be/SNP2b9i8b44

Visit youtube.com/user/TheMrunalPatel For more lectures on UPSC General Studies.

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65 Comments on “[Economy Lecture] GST Goods & Services Tax 122nd Amendment, GDP Calculation Methods & CSO Base Year Revision”

  1. Mrunal, I am waiting eagerly for your old styled written articles. Please resume writing them.

  2. Sir, CSO is no more central statistical organisation, its now central statistics office

  3. sir,
    first of all thanks for your brilliant, unconditional efforts of sharing knowledge.sir i have written mains 2014 and whether i am going to select or not depending on my ability but your notes of economic survey and your articles helped me a lot.
    now i will put my request, sir there is a problem in downloading ppts of your lectures from online storage. i am using chrome and bsnl broad band and speed of my connection is not that exciting. so it is a net speed problem or something else?

  4. Dear mrunal
    M reader of ur blog since its inception ….in begning it was a user freindly blog whr u can get wht want very easily …ur written artilces were pleasure to read …now I cant find those of ur earlier article on ur blog for revision ..now u have increased ur area and doamains as well so it has become a kind of mess …inspite of good information u give …its my sugestion to u plss put ur earliar posts back and if possible make a saparate blog only for UPSC civil service exam …wich focus solely on civil services only ….great work ur doing …keep going ..yod bless u

  5. SIR!! Please upload the other lectures ASAP! eagerly awaiting them.

  6. thank u so much mrunal sir

  7. Waiting for next video classes…Thank you again.keep up the good work.

  8. Sir, written articles have no match ….handy….

  9. mrunal sir plz post the next lectures…..when are you going to post them ???

  10. sir please give ur videos in English

  11. with due respect sir … I really appreciate your work … please it will be very kind of you if you would upload history , science tech ,art and culture , & current affairs too videos without compromising on quality … :)

  12. Hey Mrunal I am a keen follower of your post like since 2 years, now. I have developed a keen interest in Indian Economy thanks to you.
    I hope you take this as a kind suggestion from me, on behalf of all.

    Please continue writing article the old style they were more comprehensive and explanatory.
    The Videos which are being uploaded are not very clear, and sound quality ruins ear while on plug phones.

    If needed please allow a few of us, who could contribute to you by posting the articles like the way you used to do.
    I know the work of classes has kept you busy and u are unable to write the articles. Your hard work should not be ruined.

    I and we supposedly recommend your website, to the new entrants on the battlefield. So they should enjoy the legacy of the OLD Style.

    If required please contact me on my email, I would be glad to contribute some articles on any of the topic the old style….

  13. sir i have a doubt regarding the gst benefits-same base computation. You have shown in the example of a phone on which excise duty is charged and on which VAT is charged. But this has became same like sales tax right? tax on tax
    phone cost=10,000
    excise duty=10%=1000
    VAT 12%=1200 in your example it is given 1320
    can anyone clarify it?

  14. while explaining VAT you’ve subtracted 5000 from 7000 to take out the VAT as rs. 2000. Though VAT may be RS. 2000 but it will not depend on whether in the first month RS.5000 is collected or in the second month Rs. 7000 is collected. in my opinion, the correct calculation will be (Rs. 7000+Rs. 5000)-Rs. 10000=Rs. 2000 as the VAT. other wise going by your calculations, the VAT will suddenly change if in the first month RS. 3000 is collected and in the other Rs. 9000 is collected.

  15. Mrunal Sir, I am waiting eagerly for your old styled written articles. Please resume writing them.

  16. Some articles seems to have been removed. And power points are not clear without explanation, and the video is not helpful for non-hindi aspirants. Many must be relying on you for Economics portion, just like me, without reading Ramesh Singh’s. But for that we require notes. We understand you might be finding hard to juggle your time, but if notes could also be made available for the power points (like some are available), that would be really helpful. For example, there are no notes on this lecture, GST, or taxation in general. But there are excellent notes on Budget. My only request is if notes on ‘static’ portion could be made readily available within this month, that would be really helpful for people who find difficult to understand the economics jargon, so that there will be ample time for revision.

  17. Please write articles like u used to…..

  18. A query about GST. It is said that input credit on state GST will be transferred to importer state. my confusion is that if the industry is buying raw materials and services from exporter state and manufactures there the money paid for all these will include GST, how the importer state will get benefitted?

    1. Anirban, the export state gets benefited by the integrated GST that will be allocated to the import state.

  19. Mrunal Sir, A small confusion here regarding GST chapter is as you said that After CENVAT though we needed GST because their was no other system to get input credit for the other taxes paid like electricity, fuel, etc. but the question that comes in my mind is when the seller adds the profit amount then only he adds all his expenses and then adds profit so how is their lack of all those other taxes and cascading is taking place???

  20. General science topics sir!

  21. Please send me a books for MPSC exam.

  22. What is your Message? Search before asking questions & confine discussions to exams related matter only.

  23. GST aane k baad kya subhi states me petrol ki price same ho jayegi?????

    1. No. Petrol shall be out of purview of GST hence it will be taxed as per present taxation system

  24. Sir can u send me study material for RBI grade B officer for Finance & management subject

  25. I am unable to Download notes from the links you have given ….that go daddy walk site

  26. sir Please send me sector wise contribution gdp india 1951-2014

  27. Hello Sir !
    Good Evening.

    I watched your lecture on GST.
    I could not get the concept of Zero Rated exports.
    What is the current situation under VAT for exports ?
    If All tax paid will be refunded as input credit, Will it effect the revenue of govt or not ?
    Please, if you get time do clear my doubt.
    Thank you.

    1. If All tax paid will be refunded as input credit, Will it effect the revenue of govt or not ?

      I don’t think so , as the end consumer is paying the appropriate tax , input credit is used to remove cascading effects on taxes.

  28. critical comment on the feature of GST

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