Indirect Taxes with G.S.T.

Indirect Taxes with G.S.T For B.Com Part III Pandit Ravishankar Shukla University Raipur (PRSU), Bastar University, Atal Bihari Vajpayee Vishwavidyalaya Bilaspur, Sarguja University and B.Com Semester V of Guru Ghasidas Vishwavidyalaya Bilaspur (GGU) and B.Com Semester VI of MATS University (MATS)

• The law stated in this book is amended up-to-date .
• The latest rates of Excise Duty of Chhattisgarh Excise for the year 2021-22 have been included in the chapter of “DUTIES AND FEES”.
• At the end of each chapter 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.
• Chapter-wise large number of MCQ with Ans. have been given.
• The book covers all topics of the syllabus of Indirect Taxes with G.S.T.
• Most authentic, up-to-date, and comprehensive textbook on Customs, Chhattisgarh State Excise, and G.S.T.
• Law relating to GST has been discussed thoroughly in easy language and lucid style.
• Every chapter contains a complete explanation of the topic with suitable examples and, where necessary, followed by graded solved illustrations and questions for practice with Ans.
• Latest Examination Question Papers (of the year 2021) of various universities of Chhattisgarh have been included at the end of the book.

Indirect Taxes with G.S.T. Syllabus For B.Com Part III 

Unit-I : Customs: Role of customs in international trade; Important terms and definitions goods; Duty; Exporter; Foreign going vessel; Aircraft goods; Import; Import Manifest; Importer; Prohibited goods; Shipping bill; Store; Bill of lading; Export manifest; Letter of credit; Kinds of duties – basic, auxiliary, additional or countervailing; Basics of levy ad Valorem, specific duties; Prohibition of export and import of goods, and provisions regarding notified and specified goods; Import of goods – Free import and restricted import; Type of import – import of cargo, import of personal baggage, import of stores. Clearance procedure for import by post; Prohibited exports; Canalised exports; Export against licensing; Type of exports, the export of cargo, the export of baggage; Export of cargo by land, sea, and air routes.

Unit-II: State Excise, CENVAT. Detail study of State Excise during the calculation of Tax.

Unit-III: Introduction to Goods and Services Tax (GST) – Objectives and basic scheme of GST, Meaning – Salient features of GST – Subsuming of taxes-Benefits of implementing GST, Structure of GST (Dual Model) – Central GST – State / Union Territory GST – Integrated GST. GST Council: Structures Power and Functions. Provisions for amendments.

Unit-IV: Registration under GST: Procedure for registration, Persons liable for registration, Persons not liable for registration, Compulsory registration. Exempted goods and services – Rates of GST. Procedure relating to Levy : (CGST & SGST): Scope of supply, Tax liability on
Mixed and Composite supply, Time of supply of goods and services, Value of taxable supply. Eway-Billing

Unit-V: Assessment and Returns: Input tax Credit: Eligibility, Apportionment, Inputs on capital goods, Distribution of credit by Input Service Distributor (ISD). Furnishing details of outward supplies and inward supplies, First, return Annual return and Final return.

Indirect Taxes with G.S.T. Book Contents

Customs Act, 1962

1. Introduction
2. Customs Duty: Important Definitions
3. Valuation Rules for Customs Duty
4. Computation of Assessable Value and Calculation of Customs Duty
5. Baggage, Postal Articles, and Stores Rules
6. Import Procedure and Documents
7. Export Procedure and Documents

Chhattisgarh Excise Duty

1. State Excise with Cenvat
2. Establishment, Structure, and Control
3. Import, Export, and Transport
4. Manufacture, Possession, and Sale
5. Licenses, Permits, and Passes
6. Offences and Penalties
7. Duties and Fees

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

1. Goods and Services Tax (G.S.T.)
2. Taxation Mechanism Under G.S.T.
3. Composition Scheme and Reverse Charge Mechanism
4. Gst Council, Gst Network, E-Way Bill, Anti-Profiteering Authority, Avoidance of Dual Control and Key Definitions
5. Registration
6. Supply
7. Place of Supply
8. Input Tax Credit (ITC)
9. Returns
10. Assessment
11. Computation of Taxable Value and GST

• Examination Question Papers of the Year 2021 of various universities