Coming soon
Indirect Tax
Course Objectives:
This course will enable the students to gain understanding and conceptual knowledge of Indirect Tax Laws with practical application of Indirect Tax.
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Course |
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Learning and teaching strategies |
Assessment Strategies |
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Course Code |
Course title |
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24BCS312 |
Indirect Tax (Theory) |
CO 1:Analyze and interpret the provisions of the goods and services tax law along with understanding the concept of supply, levy and collection. CO 2:Review the concept of time of supply and recommending solutions to practical problems relating to levy and collection. CO 3:Assess the concept of place and value of supply along with procedural compliance mechanism. CO 4:Examine Input Tax Credit, Payment, refund, Invoice, notes and Electronic way bill. Computation of gst liability CO 5:Integrate of the customs laws and acquire the ability to analyze and interpret the provisions of such laws. CO 6:Contribute effectively in course – specific interaction. |
Approach in teaching: Interactive Lectures, Discussions, Tutorials, Problem solving sessions, Presentations
Learning activities for the students: Self-learning assignments, Case Study Analysis, Presentations, Group Discussions
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Continuous Assessment Test, Semester End Examinations, Quiz, Solving Numerical Problems, Assignments, Class Presentations, Individual and group projects. |
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
Levy and Collection of GST:
- Exemptions under GST, Composition Scheme,
- Forward Charge Mechanism, Reverse Charge Mechanism.
Time of Supply:
- Concepts of Time of Supply,
- Taxable Event, Invoice issuance, Payment Receipt,
- Factors influencing determination of Time of Supply
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.
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.
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·Overview of Customs Law,
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·Levy and collection of Customs Duties,
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·Types of Custom Duties Classification and valuation of import and export goods,
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·Exemption, Baggage, Officers of Customs, Administration of Customs Law,
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·Import and Export Procedures, Transportation, Warehousing,
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·Duty Drawback, Demand and Recovery, Confiscation of Goods and Conveyances.
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
E- Content:
- https://www.icsi.edu/student-n/new-syllabus-2022/studymaterial2023/executive-program/
- https://www.icsi.edu/e-journals/
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
