GOODS AND SERVICES TAX

Paper Code: 
SBFS 502
Credits: 
4
Contact Hours: 
60.00
Max. Marks: 
100.00
Objective: 

This course will enable the students to develop an understanding of the provisions of Goods and Services Tax.

Course Outcomes: 

 

 

Course

 

 

Learning outcome (at course level)

Learning  and Teaching Strategies

Assessment Strategies

Course Code

 

 

Course Title

SBFS502

Goods and Service Tax

(Theory)

 
  1. Attain an understanding of the broad framework of Indirect Taxes in India and the process of registration, Amendment, and cancellation under CGST.
  2. Classify types of supply and infer provisions regarding composition levy and various Exemptions under GST.
  1. Analyse Time, Value, and place of supply along with input tax credit.
  2. Explain the process of

reverse charge Mechanism, appraise rates of GST, and Computation of GST Liability along with Interest on delayed or excessive claims of ITC.

  1. Interpret the provisions

related to the maintenance of records, Generation of E waybills, and Administration and Audit under GST.

  1. Contribute effectively in course-specific interaction

Approach in teaching: Blended Learning, Collaborative approach, Interactive Lectures, Discussion, Group Projects, PowerPoint presentation.

   

Learning activities for the students:

Self-learning assignments, Seminar presentations, Case Study Analysis, Brainstorming activities

 

Class tests, CA Test,

Semester end examinations, Quiz,

Evaluation of student Presentations,

 

Evaluation of group or Individual projects,

 

Assessment of Project Reports and viva voce.

 

12.00
Unit I: 
CGST Act and Registration under GST:

CGST Act and Registration under GST:
● CGST- Basic Knowledge, Important Definitions
● Legal Framework of CGST
● Procedure for registration under CGST
● Amendment of Registration
● Cancellation or suspension of Registration

12.00
Unit II: 
Supply under GST:

Supply under GST:
● Supply- Meaning, Nature, Concept, Scope and Types of Supply
● Activities mentioned in Schedule III
● Composition levy, Levy, and Collection of Tax
● Exemptions from GST

12.00
Unit III: 
Time, Value, and Place of Supply:

Time, Value, and Place of Supply:
● Time of Supply
● Value of Supply
● Place of Supply
● Input Tax Credit

12.00
Unit IV: 
Reverse Charge Mechanism and Payment of Tax:

Reverse Charge Mechanism and Payment of Tax:
● Reverse Charge Mechanism
● Applicable rates of GST
● Payment of Tax
● Computation of GST liability
● Interest on Delayed or undue or excess claims of ITC
● Deemed passing of incidence
● TDS, TCS

12.00
Unit V: 
Records, E-Way Bills, Administration and Audit:

Records, E-Way Bills, Administration and Audit:
● Maintenance of Records- General and Special records
● Preservation period
● E-ways Bills and rules
● Administration and Audit
● Audit by Tax Authorities and special audit

Essential Readings: 

1. Chaudhary, V., Dalmia, A., & Girdharwal, S. GST- A Practical Approach. Taxmann's Publications.
2. Patel, & Choudhary. Goods and Service Tax. Choudhary Prakashan.
3. Shah, & Mangal. Goods and Services Tax. Ramesh Book Depot.
4. Nitya Tax Associates, Basics of GST. Taxmann's Publications

References: 

Suggested Readings:
1. Mohan, R. Illustrated Guide to Goods and Services Tax. Bharat Publications
2. Bangar, V. & Bangar, Y. Beginner’s Guide to GST. Aadhya Publications
e-Resources
1. 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. Tax World
6. The Chartered Accountant
7. The Economist
8. Business World

Academic Year: 
2023-2024
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