THEORETICAL FRAMEWORK OF GOODS AND SERVICES TAX

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

Learning outcome (at course level)

Learning and teaching strategies

Assessment Strategies

  
 

CO 67: Interpret the concept of Indirect Taxes in India, pre-GST Period and  post GST-Period

CO 68: Comprehend the Registration Process, cancellation and revocation under GST

CO 69: Describe the concept of Supply and also determine the time, value and place of supply, Know the concept ITC and RCM

CO 70: 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

CO 71: To Understand the implications of GST on the taxable capacity of consumers, dealers and of the society at large audits changes

CO 72: To comprehend the principles of taxations, objectives of taxes and its impact, shifting and incidence process of indirect taxes in the economy.
  • Interactive Lectures, Discussion, Tutorials
  • Reading assignments, Demonstration
  • Learning activities for the students
  • Self learning assignments, Application based questions 

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

  

 

18.00
Unit I: 
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: 
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: 
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: 
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: 
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, Shaifaly Girdharwal (Taxmann’s Publications)

References: 

SUGGESTED READINGS

  1. Illustrated Guide to Goods and Services Tax- CA Rajat Mohan (Bharat Publications)
  2. Biginner’s Guide to GST- VandanaBangar, YogendraBangar (Aadhya Publications)
  3. Goods and Service Tax-Patel, Choudhary (ChoudharyPrakashan)

e-RESOURCES:

JOURNAL & PERIODICALS

  • Tax World
  • The Chartered Accountant
  • The Economist
  • Business World

 

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: 
2022-2023
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