THEORETICAL FRAMEWORK OF GOODS AND SERVICES TAX

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

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

• 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

• 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

• 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