Goods and Services Tax

Pedagogy:

In this course, the new GST concepts will be discussed as class lectures with examples. This gives the opportunity to understand the concepts of the GST regime by students.

1. To make the students understand the conceptual framework of GST.
2. To make the students to understand the implication of GST registration and slabs in India

Outcome: The students will be able-

1. To apply the concepts of GST to start a venture or for the current business
   undertakings.
2.  To evaluate the filing of GST returns.

Syllabus

Unit-I: Concept and types of Indirect Tax; Right to impose indirect tax by Centre (Union)/State and Union Territory Governments before and after 101st Amendment of the Constitution of India; Introduction of GST in India; Definition – Supply, Aggregate Turnover, Person, Business, Appropriate Government, Mixed Supply, Composite Supply,

Unit-II: Input Tax Credit (ITC), 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. 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-III: 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