Advanced Tax Laws - II

An Overview on Goods and Services Tax ‘GST’: Introduction; Constitutional Aspects & Administration; GST models; Levy and collection of CGST and IGST; Composition scheme & Reverse Charge, Exemptions.

Supply: Meaning& scope, types of supply (composite/mixed inter/ intra); Time, Place and Value of Taxable Supply; Import and Export of Goods or Services under GST, Classification of Goods and Services; Job work provisions, agency contracts, e-commerce & TCS.

Input Tax Credit & Computation of GST Liability: Input tax credit; Computation of GST liability.

Procedural Compliance under GST: Registration; Tax Invoice, Debit & Credit Note, Account and Record, Electronic way Bill, Payment of Tax, TDS, Returns & Refund, Valuation, Audit & Scrutiny; Assessment.

Demand and Recovery, Advance Ruling, Appeals and Revision.

Inspection, search, seizure, offences & penalties.

Compliance rating, anti-profiteering, GST practitioners, authorised representative, professional opportunities

Integrated Goods and Service Tax (IGST).

Union Territory Goods and Service tax (UTGST).

GST Compensation to States.

 Industry/ Sector Specific Analysis

Basic Concepts of Customs Law: Introduction; Levy and collection of customs duties; Taxable Events; Custom duties.

Valuation & Assessment of Imported and Export Goods & Procedural Aspects: Classification and Valuation of Import and Export Goods; Assessment; Abatement and Remission of Duty; Exemptions; Refund and recovery.

Arrival or Departure and Clearance of Goods, Warehousing, Duty Drawback, Baggage and Miscellaneous Provisions: Arrival and departure of goods; Clearance of Import and Export Goods & Goods in Transit; Transportation and Warehousingprovisions; Duty Drawback provisions, Baggage Rules & provision related to prohibited goods, notified goods, specified goods, illegal importation / exportation of goods.

Advance Ruling, Settlement Commission, Appellate Procedure, Offences and Penalties: Advance Ruling; Appeal and Revision; Offences and Penalties; Prosecution; Settlement of Cases.

Foreign Trade Policy (FTP) to the extent relevant to Indirect tax: Export promotion scheme under FTP; Salient features, administration &Other miscellaneous provisions.