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THEORETICAL FRAMEWORK OF GOODS AND SERVICES TAX
This course will enable the students to develop an understanding about the theoretical framework of Goods and Services Tax laws
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Course |
Course Outcomes |
Learning and teaching strategies |
Assessment Strategies |
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Course Code |
Course Title |
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24ATG322 |
Theoretical Framework of Goods and Services Tax (Theory) |
CO67: Interpret the concept of Indirect Taxes in India, pre and post GST-Period and attain an in-depth understanding of the process of registration, cancellation and revocation under CGST. CO68: Identify and Classify types of supply and infer provisions regarding composition levy and various Exemptions under GST. CO69: Determination of time, value and place of supply, analyze the concept ITC and RCM CO70: Assessment of Taxes along with computation of GST Liability, outlining the process of payment of tax CO71: Interpret the provisions and develop an understanding pertaining to Tax Refunds, Administration and Audit, Maintenance of Records and E-Way Bills CO72: Contribute effectively in course-specific interaction |
Approach in Teaching: Interactive Lectures, Discussion, Tutorials, Problem Solving Sessions & Presentations Learning activities for the students: Self-learning assignments, Case Study Analysis, Class Presentations (Individual & Group) |
Continuous Assessment Test, Semester End Examinations, Quiz, Solving Numerical Problems, Assignments, Individual & Group Projects |
• 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
● 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
1. Basics Of Gst- Nitya Tax Associates (Taxmann’s Publications)
2. Gst- A Practical Approach—Vashisthachaudhary, Ashudalmia, Shaifalygirdharwal(Taxmann’s Publications)
Suggested Readings
- Illustrated Guide To Goods And Services Tax- Ca Rajat Mohan (Bharat Publications)
- Biginner’s Guide To Gst- Vandanabangar, Yogendrabangar (Aadhya Publications)
- Goods And Service Tax-Patel, Choudhary (Choudharyprakashan)
e-Resources:
- Https://Cbic-Gst.Gov.In
- Https://Cleartax.In/S/Gst-Book-Online-Pdf
- Http://Www.Idtc.Icai.Org/Gst.Html
- Https://Taxmantra.Com/Wp-Content/Uploads/2017/03/Gst-Ebook.Pdf
