Goods and Services Tax (G.S.T.)

About the Goods and Services Tax (G.S.T.) Book:

• The law stated in the book is as amended upto October, 2023.
• Amendments in GST made by the Finance Act, 2022 and the Finance Act, 2023 have been duly incorporated in the book.
  Unique Features of the Book
•  Amendments by the CGST Amendment Act, 2023 and IGST Amendment Act, 2023 effective from 01.10.2023 have been incorporated in this revised edition.
• With effect from 16th September, 2023 the Government has constituted Goods and Services Tax Appellate Tribunals in various states has also been included in the book.
• In the chapter of Appeals, Revision and Authority for Advance Ruling recommendations of the 52nd GST Council held on 7th October, 2023 have been incorporated.
• Significant Notifications and Circulars issued by the Central Board of Indirect Taxes and Customs upto 30th September, 2023 have been incorporated in the revised edition of the book.
• Most authentic, up-to-date and comprehensive text book on GST.
• Efforts have been made to present the complex law of GST in easy language and in a lucid manner. Care has been taken to present the matter in a logical sequence to facilitate easy understanding by the
  students.
• The book covers all topics of the syllabi of various universities for undergraduate and postgraduate courses.
• In the present revised edition almost all the chapters have been thoroughly revised and updated.
  At the end of each chapter large number of MCQ have been given which
  enable students to learn faster.

Goods and Services Tax (G.S.T.) For B.Com. (Hons) Semester V of Kurukshetra University (KUK), Chaudhary Ranbir Singh University Jind & Guru Jambheshwar University of Science and Technology Hisar

The GST roll-out on September 30, 2023, evidenced the stepping stone toward accomplishing a goal of ‘One Nation–One Tax–One Market’. It has subsumed many indirect taxes, both at the Centre and State level. Goods and Services Tax is expected to boost the GDP in the long run and contain tax evasion. The registration of a large number of the assessee under Goods and Services Tax will facilitate the effective implementation of GST thereby realizing the benefits of uniformity of taxes, seamless credit to reducing the cascading effect. It follows a multi-stage collection mechanism where tax is collected at every stage and the credit of tax paid at the previous stage is available as a set off at the next stage of the transaction. To ensure a smooth transition, the government and all related nodal agencies like Goods and Services Tax Council, GSTN, etc. have been regularly taking decisions to resolve the issues being faced at various levels and coming out with FAQs.

The unique features of the book are that the amendments made by the 32nd G.S.T. Council on 10-10-2023 have been included in the book and Numerical Questions with solutions have been given. Several charts have been included in the book for an easy and quick study of the subject. Also, a large number of Short Answer Questions on GST have been included in the book with Answers.

Provisions of T.D.S. and T.C.S. enforced w.e.f. 1 October  2023, and amendments in GST made by 32nd GST council on 10.10.2023 have been included in the book.

The book is very well structured. The book starts with a brief summary tracing the manner in which GST has been introduced in India.

Goods and Services Tax (G.S.T.) Syllabus For B.Com. (Hons) Semester V of Kurukshetra University (KUK), Chaudhary Ranbir Singh University Jind & Guru Jambheshwar University of Science and Technology Hisar

GST: meaning, taxable person, registration: procedure and documents required. Levy and collection of GST

Time and place of supply of goods and services, the value of taxable supply

Computation of input tax credit and transfer of input tax credit

Tax invoice credit and debit note

Various returns to be filed under GST

Payment of tax including TDS, Interest Provisions on delayed payment

Offenses and Penalties

Goods and Services Tax (G.S.T.) Book Contents

1. Indirect Taxes (An Introduction)
2. Goods And Services Tax (GST)
3. Taxation Mechanism Under GST
4. GST Council, Anti-Profiteering Authority, Avoidance of Dual Control and Key Definitions
5. Supply: Meaning, Time, and Valuation
6. Place of Supply of Goods or Services
7. Levy and Collection of Tax (Including Exemptions and Exempt Supplies)
8. Registration
9. Input Tax Credit (ITC)
10. Composition Scheme and Reverse Charge Mechanism
11. Computation of Taxable Value and GST
12. Job Work, E-Commerce
13. Tax Invoice, Credit and Debit Notes, E-Way Bill
14. Returns
15. Payment and Refund of Tax (with TDS and TCS)
16. Accounts and Records
17. Assessment and Audit
18. Demand and Recovery of Tax
19. Administration, Inspection, Search And Seizure, Offences And Penalties
20. Appeals, Revision and Authority For Advance Ruling
21. GST Network