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Indirect Tax
Paper Code:
25BCS312
Credits:
4
Contact Hours:
60.00
Max. Marks:
100.00
Objective:
This course will enable the students to gain understanding and conceptual knowledge of Indirect Tax Laws with practical application of Indirect Tax.
Course Outcomes:
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12.00
Unit I:
Demystifying India’s Taxation Framework:IDT and GST
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
12.00
Unit II:
Navigating the Dynamics of GST : Exemptions, Schemes and Time of supply
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,
12.00
Unit III:
Mastering GST Compliance : Value & Place of Supply to Procedural essentials
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.
12.00
Unit IV:
GST Compliance : Returna to Tax Input Credit management
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
12.00
Unit V:
Overview of Customs Act
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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,
Essential Readings:
- Study Material Published by ICSI
References:
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
Academic Year:
