Goods And Services Tax

Syllabus

B.COM: 502-18

GOODS AND SERVICES TAX

UNIT –I

Indirect Taxes: Background, Concept, Features; Major Shortcomings of Pre-GST Era, Administration of Indirect Taxation in India; Goods and Services Tax: Basics Concept and Overview. Need and Benefits, Constitutional Framework of GST.

UNIT –II

GST Model – CGST / IGST / SGST / UTGST; Concept of Taxable Event; Concept of supply, Composite Supply and Mixed Supply; Provisions regarding Levy and Collection of CGST and IGST. Concept of Composition scheme & Reverse Charge.

UNIT –III

Power of Granting Exemptions. Basic Exemptions under Goods and Services Tax, Concept of Time, Value & Place of Taxable Supply of Goods/Services, Input Tax Credit & Computation of GST Liability.

UNIT –IV

Procedural Compliance under GST: Registration; Tax Invoice, Debit & Credit Note, Account and Record, Electronic way Bill; Provisions Regarding Filing of Return, Payment of Tax, Provisions Related to Refund.