INDIRECT TAX

Paper Code: 
BCS 218
Credits: 
03
Contact Hours: 
45.00
Max. Marks: 
100.00
Objective: 

Course Objectives:

This course will enable the students to gain understanding and conceptual knowledge of Indirect Tax Laws with practical application of Indirect Tax.

 

 Course Outcomes (COs):        

Course

 

Course Outcomes

 

Learning and teaching strategies

Assessment

Strategies

Course Code

Course Title

BCS 218

Indirect Tax

 

CO 91:Analyze and interpret the provisions of the goods and services tax law along with understanding the concept of supply, levy and collection.

CO 92:Review the concept of time of supply and recommending solutions to practical problems relating to levy and collection.

CO 93:Assess the concept of place and value of supply along with procedural compliance mechanism.

CO 94:Examine Input Tax Credit, Payment, refund, Invoice, notes and Electronic way bill. Computation of gst liability

CO 95:Integrate of the customs laws and acquire the ability to analyze and interpret the provisions of such laws.

CO 96:Contribute effectively in course – specific interaction.

Approach in teaching:
Interactive Lectures, Discussion, Tutorials, Reading assignments, Interactive White Board, Incorporating technology in teaching
 

Learning activities for the students:
Self learning assignments, Effective questions

Class test, Semester end examinations, Quiz,  Assignments, Class interaction, Presentation, Case study analysis, Open ended questions, think-pair-share, Socratic seminar

 

9.00
Unit I: 

Concept of Indirect Taxes at a glance

:Background; Constitutional powers of taxation; Indirect taxes in India – An overview; Pre-GST tax structure and deficiencies; Administration of Indirect Taxation in India.

Basics of Goods and Services Tax ‘GST’:Basic concepts and Overview of GST, GST Model – CGST / IGST / SGST / UTGST, GST Compensation to States.

Levy and Collection of GST:Taxable Event, Concept of Supply including Composite and Mixed supply, Levy and Collection of CGST and IGST

 

9.00
Unit II: 

Levy and Collection of GST: Exemptions under GST, Composition Scheme, Forward Charge Mechanism, Reverse Charge Mechanism.

Time of Supply:  Concepts of Time of Supply

 

9.00
Unit III: 

Value & Place of Supply: Concepts of Value of Supply and Place of Supply

Procedural Compliance under GST:Registration, Tax Invoices, Debit & Credit Notes, Accounts and Records, Electronic Way Bill

 

9.00
Unit IV: 

Procedural Compliance under GST: Returns, Payment of Tax, Refund Procedures, GST Practitioners, Assessment, Demand and Recovery, QRMP Scheme

Input Tax Credit & Computation of GST Liability:Overview, Eligibility and Conditions for taking Input Tax Credit, Transitional Provisions in ITC, Ineligible Credits, Input Service Distributor, Order of Utilisation of Input Tax Credit

 

9.00
Unit V: 

Overview of Customs Act: Overview of Customs Law, Levy and collection of Customs Duties, Types of Custom Duties Classification and valuation of import and export goods, Exemption, Baggage, Officers of Customs, Administration of Customs Law, Import and Export Procedures, Transportation, Warehousing, Duty Drawback, Demand and Recovery, Confiscation of Goods and Conveyances

 

Essential Readings: 

Essential Readings:

  • Study Material Published by ICSI

 

Suggested Readings:

  • GST Ready Reckoner by CA Ashok Batra
  • Indirect Taxation by Sultan Chand & Sons
  • Indirect Tax Reform in India by Yashwant Sinha
  • K.S. Naveen Kumar & Annapurna Kabra’s

 

 

References: 

E- Content:

 

 

Note- The candidate shall be permitted to use battery operated pocket calculator that should not have more than 12 digits, 6 functions and 2 memories and should be noiseless and cordless

 

Academic Year: 
2023-2024
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