Accounting and Taxation
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Home > THEORETICAL FRAMEWORK OF GOODS AND SERVICES TAX

THEORETICAL FRAMEWORK OF GOODS AND SERVICES TAX [1]

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

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

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

• 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

• 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

• 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: 

• Basics of GST- Nitya Tax Associates (Taxmann’s Publications)
• GST- A Practical Approach—VashisthaChaudhary, AshuDalmia, ShaifalyGirdharwal(Taxmann’s Publications)

References: 

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 [2]
  • https://cleartax.in/s/gst-book-online-pdf [3]
  • http://www.idtc.icai.org/gst.html [4]
  • https://taxmantra.com/wp-content/uploads/2017/03/GST-Ebook.pdf [5]

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: 
2023-2024 [6]

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

Links:
[1] https://accountingtaxation.iisuniv.ac.in/courses/subjects/theoretical-framework-goods-and-services-tax-0
[2] file:///C:/Users/Power/Downloads/%0dhttps:/cbic-gst.gov.in%0d
[3] https://cleartax.in/s/gst-book-online-pdf
[4] http://www.idtc.icai.org/gst.html
[5] https://taxmantra.com/wp-content/uploads/2017/03/GST-Ebook.pdf
[6] https://accountingtaxation.iisuniv.ac.in/academic-year/2023-2024