INDIRECT TAX / GST

Teacher

Surya Narayan Pradhan

Category

Course Attendees

Still no participant

Course Reviews

Still no reviews

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

[/vc_section]

Case Studies

Case Studies

Our Main Teachers

Born in 1979 in a lower middle class family of a Government Employee and brought up in the historical city of Lord Jagannath at Puri, I strongly believe in spiritual power, honesty and dedication. I am a Post Graduate in Commerce and in Management having 14 years of industrial experience in the field of Accounting, […]