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Home > Goods and Services Tax Act -I

Goods and Services Tax Act -I [1]

Paper Code: 
TPT-132
Credits: 
4
Contact Hours: 
60.00
Max. Marks: 
100.00
Objective: 

Objective- This course will enable the students to understand:
• Broad Framework of Indirect Taxes in India
• Procedural compliance regarding Registration
• Concept, meaning, scope and types of Supply including Composition Scheme under GST
• Computation of Time, Value and Place of Supply
• Concept of Input Tax Credit, Reverse Charge Mechanism
• Computation of GST Liability including Exemptions under GST

COURSE LEARNING OUTCOME:
Students will be able to:
• Understand the Broad Framework of Indirect Taxes in India
• Learn the process of registration, amendment and cancellation of registration
• Understand different types of Supply and provisions regarding Composition Scheme under GST
• Calculate Time, Value and Place of Supply as per GST Provisions
• Understand the concept of Input Tax Credit and Reverse Charge Mechanism
• Compute GST liability

12.00

Concept of Indirect Taxes at a glance
Indirect taxes in India – An overview;
Pre-GST tax structure and deficiencies; Existing tax structure.
CGST- Basic Knowledge, Definitions
Registration: Procedure for registration under GST, Cancellation and revocation of Cancellation

12.00

Meaning, concept and scope 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

12.00

• Time of Supply
• Value of supply
• Place of Supply

12.00

Input Tax Credit and Computation of Tax Liability

12.00

Reverse Charge Mechanism
Exemptions from GST

Essential Readings: 

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)
3. Goods and Service Tax-Patel, Choudhary (Choudhary Prakashan)

References: 

Reference Books
1. Illustrated Guide to Goods and Services Tax- CA Rajat Mohan (Bharat Publications)
2. Biginner’s Guide to GST- Vandana Bangar, Yogendra Bangar (Aadhya Publications)

Academic Year: 
2021-2022 [2]

Follow Accounting and Taxation on:

IIS (Deemed to be University)

Gurukul Marg, SFS, Mansarovar, Jaipur 302020, (Raj.) India Phone:- +91-141-2400160-61, 2397906-07, Fax: 2395494, 2781158

Source URL: https://accountingtaxation.iisuniv.ac.in/courses/subjects/goods-and-services-tax-act-i-0

Links:
[1] https://accountingtaxation.iisuniv.ac.in/courses/subjects/goods-and-services-tax-act-i-0
[2] https://accountingtaxation.iisuniv.ac.in/academic-year/2021-2022