Goods and Service Tax

Paper Code: 
SBFS 301
Credits: 
4
Contact Hours: 
60.00
Max. Marks: 
100.00
Objective: 

The objective of this course is to gain knowledge of the provisions of Goods and Service Tax

12.00
Unit I: 
Understanding GST Concepts

Introduction - Stages of Evolution of Goods and Services Tax - Methodology of GST –. Benefits of implementing GST- Structure of GST- Central Goods and Services Tax - State Goods and Services Tax - UTGST - Integrated Goods and Services Tax - Important concepts and definitions under CGST Act and IGST Act GSTN - HSN Code - SAC code - GST council – Structure, Power and Functions.

12.00
Unit II: 
Incidence of Taxation

Levy and Collection of Tax -Rates of GST- Scope of Supply - Composite and Mixed Supplies ,E-commerce under GST regime- Liability to pay tax, Reverse Charge Mechanism- Composition Scheme of Levy-Value of taxable supply- Interstate supply-Intra state supply
Time of supply- Place of supply- Significance- Time and place of supply in case of intra state supply, interstate supply and import and export of goods and services

12.00
Unit III: 
Registration

Registration - Persons Liable for Registration - Compulsory Registration - Deemed Registration- Procedure For Registration - GSTIN - Amendment of Registration - Cancellation of Registration - Revocation of cancellation - Furnishing Details of Supplies - Returns - Accounts and Records- Forms for above – Assessment- An overview of various types of assessment

12.00

Input Tax Credit and Computation of Tax Liability

12.00
Unit V: 
Maintenance of Books & Records

Composition Scheme, Job work and its procedure, Various exemptions under GST, Demand, and recovery under GST Miscellaneous provisions under GST

Essential Readings: 

• Indirect Taxes - Vinod K Singania,Taxmann’s Publications, New Delhi
• Indirect Taxes - H.C Mehrotra, Sahitya Bhavan Publications, New Delhi
• Illustrated Guide to Goods and Service Tax- C A Rajat Mohan- Bharat Publications
• All About GST- V S Datey- Taxmann Publications.

Academic Year: