Indirect Taxes and G.S.T.

Indirect Taxes and G.S.T. Book For B. Com (Hons.) Semester IV of Ranchi University, Marwari College Ranchi, Ranchi Women’s College, St. Xavier’s College Ranchi and Nilambar Pitamber University Daltonganj (NPU)

• The law stated in this book is as amended upto July, 2022.
• The most unique feature of the book is that Notifications dated 30th July, 2022 regarding exemption to the registered persons whose aggregate turnover is up to Rs. 2 crores from filing GST Annual Return for the Financial Year 2022-23 and deletion of the requirement of Audit of accounts have been included in the book.
• Most authentic, up-to-date and comprehensive text book on GST.
• 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 and chapter on Payment and Refund of Tax (with TDS and TCS) has been completely rewritten.
• At the end of each chapter large number of MCQ and Short Questions with Ans. have been given which enable students to learn faster. This unique feature will serve as the backbone in understanding the whole chapter.
• Latest Examination Question Paper of Ranchi University has been included in the book.
• Law relating to GST has been discussed thoroughly in easy language and in lucid style.
• Amendments in GST made by the Finance Act, 2022 have been duly incorporated in the book.
• The questions asked in recent university examinations have been incorporated in the book.
• Every chapter contains complete explanation of the topic with suitable examples and, where necessary, followed by graded solved illustrations and questions for practice with Ans.

Indirect Taxes and G.S.T. Syllabus For B. Com (Hons.) Semester IV of Ranchi University, Marwari College Ranchi, Ranchi Women’s College, St. Xavier’s College Ranchi and Nilambar Pitamber University Daltonganj (NPU)

Unit I: Overview of GST – Introduction, Challenges of Previous Tax Structure, Taxes under GST (Central Goods and Service Tax, State Goods and Service Tax Union Territory Goods and Service Tax, Integrated Goods and Service Tax & Cess), Difference between VAT, Service Tax & Excise Duty with GST

Unit II: Registration – Introduction, Threshold for Registration, Regular Tax Payer, Composition Tax Payer, Casual Taxable Person, Non-Resident Taxable Person, Unique Identification Number, Registration Number Format, Important Points, Special & Amendments / Cancellation.

Unit III: Determination of Value of Supply / Time of Supply – Taxable Supply, Supply of Goods and Supply of Services, Course or Furtherance of Business, Special Transactions, Time of Supply – Goods, Time of Supply – Services & Other Points.

Unit IV: Place of Supply – Concept of Place of Supply (Interstate Supply, Intrastate Supply, Export of Service & Export of Goods, Import of Service & Import of Goods), Where there is movement of Goods, Where there is no movement of Goods, Where Goods are installed and Assembled, Goods are shipped on board.

Unit V: Levy of and Exemption from Tax – Levy of GST – Introduction, Composition Scheme, Remission of Tax / Duty.

Unit VI: Input Tax Credit – Introduction, Input tax credit process, Negative list of the input tax credit, Input tax credit utilization, Input tax credit reversal, Job worker, Case Studies, Returns, GSTR-2, Other Taxable persons, Annual Return & GST Council.

Unit VII: TDS on GST, TCS on GST.

Unit VIII: Payment of Tax – Electronic Liability Register, Electronic Credit Ledger, Electronic Cash Ledger, Unique Identification Number.

Unit IX : Returns, Refund, Audit and Assessment.

Indirect Taxes and G.S.T. Book Contents

1. Indirect Taxes (An Introduction)
2. Goods And Services Tax (G.S.T.)
3. Taxation Mechanism Under GST
4. GST Council, GST Network, Anti-Profiteering Authority, Avoidance of Dual Control and Key Definitions
5. Impact of GST on Trade, Manufacture, Services, etc
6. Supply : Meaning, Time and Valuation
7. Place of Supply
8. Levy and Collection of GST
9. Registration
10. Input Tax Credit (ITC)
11. Composition Scheme and Reverse Charge Mechanism
12. Computation Of Taxable Value and GST
13. Jobwork, E-Commerce and Supply of Online Data
14. E-Way Billing
15. Returns
16. Payment and Refund of Tax (With TDS And TCS)
17. Invoice and Accounts
18. Assessment and Audit
19. Demand and Recovery Under GST
20. GST Administration, Powers of The Officers, Penalties
    and Prosecution and Compounding of Offences
21. Appeal, Revision and Authority Advance Ruling
22. GST and Technology and GST Network
    Examination Question Paper 2017-2020 of Ranchi University, Ranchi