Theoretical Framework of Goods and Service Tax

Paper Code: 
ATG-322
Credits: 
6
Contact Hours: 
90.00
Max. Marks: 
100.00
Objective: 

The objective of this course is to -

  • Develop an understanding of the fundamental aspects of Goods and Services Tax laws
  • Enable students with the practical issues related to levy and collection of tax.

Course Outcomes (COs):

 

Course

Learning outcome (at course level)

Learning and teaching strategies

Assessment Strategies

Paper Code

Paper Title

ATG 322

Theoretical Framework of Goods and Services Tax 

CO54: Interpret the concept of Indirect Taxes in India, pre-GST Period and  post GST-Period

CO55: Comprehend the Registration Process, cancellation and revocation under GST

CO56: Describe the concept of Supply and also determine the time, value and place of supply, Know the concept ITC and RCM

CO57: Assess the Basic Customs Duty and outline the procedure for payment of tax. Interpret the basic provisions regarding tax assessment, tax refund, Administration and Audit, maintenance of records and E-Way bills

Approach in teaching:

Interactive Lectures, Discussion, Tutorials, assignments.

 

Learning activities for the students:

Self learning assignments, Effective questions,  Giving tasks,

 

Class test, Quiz, Solving problems in tutorials, Assignments, Presentation, Individual and group projects Semester end examinations

 

 

18.00
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; existing tax structure.
  • CGST- Basic Knowledge, Definitions, Constitutional Framework of CGST, GST; GST Model – CGST / IGST / SGST / UTGST;
  • Registration: Procedure for registration under GST, Cancellation and revocation of Cancellation
18.00
Unit II: 
.
  • Identification of Nature 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
  • Exemptions from GST
18.00
Unit III: 
.
  • Time of Supply
  • Value  of supply
  • Place of Supply
  • Input Tax Credit- Concept, Eligibility and conditions for taking Input tax credit, Computation of GST liability
  • Reverse Charge Mechanism
18.00
Unit IV: 
.

• Applicable rates of GST
• Payment of Tax-Electronic Cash Ledger, Electronic Credit Ledger, Electronic Liability Register, Interest on Delayed Payment, TDS, TCS
• Computation of GST Liability
• Tax Assessment- Assessment by Tax Payers, Assessment by Tax Authorities

18.00
Unit V: 
.

·        Tax Refund- Interest on late refund of tax, Consumer Welfare Fund, Refund of IGST paid on goods exported out of India

·        Administration and Audit

·        Maintenance of Records and Invoices, 

E-way Rules and Bills, Validity of E Way Bills

 

Essential Readings: 
  1. 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. Illustrated Guide to Goods and Services Tax- CA Rajat Mohan (Bharat Publications)
    4. Biginner’s Guide to GST- Vandana Bangar, Yogendra Bangar (Aadhya Publications)
    5. Goods and Service Tax-Patel, Choudhary (Choudhary Prakashan)
Academic Year: 
2020-2021
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