Course Name : Goods & Services Tax (GST) And Customs Law
Code(Credit) : CUTM1952 (4-0-2)
Course Objectives:
The course aims:
To make the students about the basic differences of earlier indirect tax system and present indirect tax system
To give the students a general understanding of the GST law in the country and provide an insight into practical aspects of GST and equip them to become tax practitioners.
Course Outcomes
After the completion of the course, the learners will be able to:
- Explain concept, need, and utility of indirect taxes and understand and analyse the taxable event, i.e., supply under GST;
- Describe the provisions relating to levy of GST;
- Identify exemptions for different types of goods and services and examine the various provisions of input tax credit;
- Analyze provisions regarding penalties and interest and to prepare and file GST return on-line;
- Understand the significant provisions of the customs law.
| COS | COURSE OUTCOMES | MAPPING COS WITH POS (High-3; Medium-2; Low-1) |
| CO1 | Explain concept, need, and utility of indirect taxes and understand and analyse the taxable event, i.e., supply under GST. | PO1(3), PO3(2)
|
| CO2 | Describe the provisions relating to levy of GST. | PO2(3), PO3(3)
|
| CO3 | Identify exemptions for different types of goods and services and examine the various provisions of input tax credit | PO1(3), PO2(3)
|
| CO4 | Analyse provisions regarding penalties and interest and to prepare and file GST return on-line | PO1(3), PO2(3)
|
| CO5 | Understand the significant provisions of the customs law. | PO1(3), PO3(2)
|
Course Syllabus
Module I:
Basic Concepts
Concept and features of Indirect Taxes, Difference between Direct and Indirect Taxes, Concept of GST, Relevant Definitions under GST law, Constitutional aspects of GST. GST Council: Constitution, Structure and functioning.
Module II:
Concept of supply and levy of GST
Concept of supply including composite and mixed supply, Place, Time and Value of taxable supply, Significance of consideration.
Module III:
Levy of GST
Basis of Charge of GST, Inter-State Supply, Intra-state supply, GST rates notified for supply of various goods and services, Reverse charge mechanism, Composition levy, Exemptions from GST, Power to grant exemptions, Exempted goods under exemption notifications, Exempted services under exemption notifications, Input tax credit.
Module IV:
Procedures under GST
Registration under GST law, Tax invoice credit and debit notes, Different GST returns, Electronic liability Ledger, Electronic credit Ledger, Electronic cash ledger, Different assessment under GST, Interest applicable under GST (Period), Penalty under GST, Various provisions regarding e-way bill in GST, Mechanism of Tax Deducted at Source (TDS) and tax collected at source (TCS), Audit under GST.
Module V:
Customs Law
Custom Law: Concepts; Territorial waters; High seas; Levy of customs duty, Types of custom duties; Valuation; Baggage rules & exemptions.
Text Books:
- Singhania, V. K., &Singhania, M. (2020). Student’s Guide to Income Tax Including GST. New Delhi: Taxmann Publication.
- Singhania, V. K., &Singhania, K. (2020). Direct Taxes: Law & Practice. New Delhi: Taxmann Publication.
Ahuja, G., & Gupta, R. (2020). Direct Taxes Ready Reckoner. New Delhi: Wolters Kluwer India Private Limited.
Books Recommended:
1. Professional’s Guide to GST – Abhishek A Rastogi, LexisNexis
2. Basics of GST – Nitya Tax Associates, Taxmann
3. GST Ready Reckoner – V S Datey
4. Handbook of GST in India – Rakesh Garg