Goods and Service Tax (GST) Lu b.com 5th Semester

Syllabus

P25: Goods and Service Tax (GST)

UNIT-I 

Concept and Types of Indirect Tax; Right to Impose Indirect Tax by Centre (Union)/State and Union Territory Governments before and after 101^st  Amendment of the Constitution of India; Introduction of GST in India; Definition - Supply, Aggregate Turnover, Person, Business, Appropriate Government, Mixed Supply, Composite Supply, GSTN, GSTIN, E-Commerce Input Tax Credit, etc. GST Models: Single GST & Dual GST; Types of GST:- CGST, SGST/UTGST, IGST; Levy and Collection of GST.

UNIT-II

Registration under GST: Persons Liable to Get Registered, Compulsory Registration, Registration Procedure, Reverse Charge Mechanism, Composition Scheme and Assessment under Composition Scheme; Zero Rated Supply; Exemption from GST, GST Tax Rate.

UNIT-III 

Input Tax Credit (ITC), Eligibility and Conditions for Taking Input Tax Credit, Apportionment of ITC and Blocked Credit; Various Documents under GST- Tax Invoice, Bill for Supply, Debit Note, Credit Note, Payment Voucher, Receipt Voucher, E-Way Bill, HSN Code and SAC Code.

UNIT-IV 

Assessment and Administration of GST - Types of GST Returns, Types of Assessment & Assessment Procedures, Role and Functions of GST Council, Tax Authorities and their Powers; Tax Deduction at Source & Tax Collection at Source, Refund of Tax.