Coming soon
Goods and Services Tax Act -I
Objective- This course will enable the students to understand:
• Broad Framework of Indirect Taxes in India
• Procedural compliance regarding Registration
• Concept, meaning, scope and types of Supply including Composition Scheme under GST
• Computation of Time, Value and Place of Supply
• Concept of Input Tax Credit, Reverse Charge Mechanism
• Computation of GST Liability including Exemptions under GST
COURSE LEARNING OUTCOME:
Students will be able to:
• Understand the Broad Framework of Indirect Taxes in India
• Learn the process of registration, amendment and cancellation of registration
• Understand different types of Supply and provisions regarding Composition Scheme under GST
• Calculate Time, Value and Place of Supply as per GST Provisions
• Understand the concept of Input Tax Credit and Reverse Charge Mechanism
• Compute GST liability
Concept of Indirect Taxes at a glance
Indirect taxes in India – An overview;
Pre-GST tax structure and deficiencies; Existing tax structure.
CGST- Basic Knowledge, Definitions
Registration: Procedure for registration under GST, Cancellation and revocation of Cancellation
Meaning, concept and scope of supply
• Inter State and Intra State Supply,
• Composite and Mixed Supply,
• Continuous Supply and Zero Rated Supply,
• Taxable and Non Taxable supplies,
Composition levy, Levy and Collection of Tax
• Time of Supply
• Value of supply
• Place of Supply
Input Tax Credit and Computation of Tax Liability
Reverse Charge Mechanism
Exemptions from GST
Essential Readings
1. Basics of GST- Nitya Tax Associates (Taxmann’s Publications)
2. GST- A Practical Approach— Vashistha Chaudhary, Ashu Dalmia, Shaifaly Girdharwal (Taxmann’s Publications)
3. Goods and Service Tax-Patel, Choudhary (Choudhary Prakashan)
Reference Books
1. Illustrated Guide to Goods and Services Tax- CA Rajat Mohan (Bharat Publications)
2. Biginner’s Guide to GST- Vandana Bangar, Yogendra Bangar (Aadhya Publications)
