Surya Narayan Pradhan


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Code(Credit) : CUTM1690(4-2-0)

Course Objectives

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.

Learning Outcomes

After successful completion of the course, the student will be able to
• Explain the structure of GST
• Analyze the benefits of GST
• Describe the functions, powers and structure of GST Council and GSTN
• Define basic concepts and terms under CGST Act and IGST Act
• Explain the provisions of levy and collection of GST
• Describe the provisions of Reverse Charge Mechanism and composition scheme
• Explain the concept of time, place and value of supply
• Explain importance and benefits of Input Tax Credit
• Describe the provisions ,types and procedures of Registration

Course Syllabus

Unit 1: Introduction
About GST | Objectives of implementation of GST | Benefits of GST |
Components of GST | Present Tax Structure vs GST Structure | Important
Definitions | Meaning and Scope of supply

Unit 2: Levy and Collection of Tax
Definition of Supply |Scope of supply | Tax liability on Composite and Mixed
Supply | When GST will be levied on Goods and Services | Rules regarding small
supplier (Composition Levy) and conditions and restrictions thereof |
Composition rate of tax| When supply is exempt from tax
Unit 3: Time and Place of Supply
How to determine the time of supply of goods | How to determine the time of
supply of services | Determination of time of supply in case of reverse charge |
How to determine the time of supply when there is a change in rate of tax |
Determination of place of supply
Unit 4: Valuation of Supply
How to determine the value of supply where the consideration is not wholly in
money | Determination of value of supply between distinct or related person |
How to determine the value of supply through an agent | Determination of value
of supply when the value is not determinable| Determination of value of supply
in relation to purchase or sale of foreign exchange | Value of supply of services
in relation to booking of tickets for travel by air | Value of supply of services in
relation to life insurance business | Determination of value of supply in case of
pure agent
Unit 5: Input Tax Credit
Eligibility and Conditions for entitlement of Input Tax Credit | When ITC will
be reversed | What if depreciation has been claimed on the tax component of the
cost of capital goods | Entitlement of ITC in case the invoice or debit note for
supply after the due date of furnishing of the return | Documentary requirements
for claiming input tax credit | Apportionment of credit for goods or services used
partly for business purpose and partly for other purposes | How to claim credit
by a banking co. / financial institution | ITC claim in respect of motor vehicles,
food and beverages, rent-a-cab etc. | ITC entitlement on sale, merger,
amalgamation, lease or transfer of a business | Matching of claim of ITC
Unit 6: General Procedures
When a person is liable for registration | When a person is not liable for
registration | When registration is compulsory | How to apply for registration |
Registration in case a person has multiple business vertical s within a state |
Special provisions relating to casual and Nonresident taxable person | How to
amend the registration certificate | Procedure for cancellation of registration
Who can issue Tax Invoice | How to prepare tax invoice | Issuance of tax invoice
in case of continuous supply of services | Issuance of tax invoice where the goods being sent or taken on approval for sale or return | Contents of tax invoice | When to issue tax invoice | When to issue debit and credit notes | When to issue supplementary tax invoice | ISD invoice in case of Input Service Distributor | Cases where issuance of tax invoice is not required
Records to be maintained | Period of retention of accounts

Filing of Returns | Form and manner of furnishing outward and inward supplies
| Form and manner of submission of monthly return | Submission of return by
non-resident taxable person | How to file Annual Return | When late fee is
How to pay tax | Electronic Credit Ledger | Electronic Cash Ledger | Interest on
delayed payment of tax | TDS & TCS

Unit 7: Transitional Provisions
Migration of existing taxpayers | Carry forward of Cenvat Credit | When credit
is not allowed | Unavailed cenvat credit in respect of capital goods | Cenvat credit
in respect of inputs held in stock, semi-finished and finished goods | Return of
Duty paid goods | Transitional provisions relating to Job Work | Credit
distribution by ISD | Branch Transfer | Goods sent on approval basis

Unit 8: IGST Act
Important Definitions | When IGST is levied | Determination of inter-state supply
| Determination of intra-state supply | How to determine the place of supply |
Place of supply of goods imported into or exported from India | Zero rated supply
| Apportionment of tax | Transfer of ITC

Unit 9: Featured Segment
Composition Scheme | Job Work | Reverse Charge | Input Service Distributor |
Discount | Composite & Mixed Supply | Electronic Commerce | Works Contract| Construction Services | Renting | Leasing

Unit 11: GSTN
About GSTN | Enrolment of existing taxpayers | Hands on practice with live
examples | GST Suvidha Provider

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

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, […]