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. Basics of GST- Nitya Tax Associates (Taxmann’s Publications)
2. GST- A Practical Approach—Vashistha Chaudhary, Ashu Dalmia, ShaifalyGirdharwal(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: 
2019-2020
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