SECTION A: ADVANCED INDIRECT TAX AND PRACTICE 1. Goods and Services Tax Act & Rules 1.1 Introduction
What is GST
Need for GST in India
Cascading effect of tax
Non-integration of VAT and Service Tax causes double taxation
No CENVAT Credit after manufacturing stage to a dealer:
Cascading of taxes on account of levy of CST Inter-State purchases:
The existing Indirect Tax frame work in India suffer from various duties and taxes at
Central as well as at State level:
Non Availment of Seamless ITC
Tedious Process of Issuance and collection of CST Forms and losses suffered due to them
Sharing of Data between Centre and States and various Boards
One Nation-One Tax
Dual GST Model
Central Goods and Services Tax Act, 2017 (CGST)
State Goods and Services Tax Act, 2017 (SGST)/
Union Territory Goods and Services Tax Act, 2017 (UTGST)
Integrated Goods and Services Tax Act, 2017 (IGST)
Methodology of Flow of Revenue between Centre and States
Goods and Services Tax Network (GSTN)
The functions of the GSTN (i.e. Role assigned to GSTN)
Constitution (101st Amendment) Act, 2016 GST Council
Guiding principle of the GST Council
Functions of the GST Council
Body of GST Law
Definitions under CGST Laws
1.2 Levy and Collection of Tax Scope of supply (Section 7 of CGST Act, 2017) Section 7(1)(a) all forms of supply of goods or services or both such as sale, transfer, barter, exchange, licence, rental, lease or disposal made or agreed to be made for a consideration by a person in the course or furtherance of business; Section 7(1)(b) of CGST Act, 2017, import of services for a consideration whether or not in the course or furtherance of business Section 7(1)(c) of the CGST Act, 2017 the activities specified in Schedule I, made or agreed to be made without a consideration
Permanent transfer/disposal of business assets
Supply between related persons or distinct persons
Supply to agents or by agents
Importation of Services
Section 7(1)(d) the activities to be treated as supply of goods or supply of services as referred to in Schedule II
Un-divided share in goods
Job work
Transfer of business assets
Renting of Immovable Property
Construction Service
Information Technology software
Agreeing to the obligation to refrain from an act, or to tolerate an act or a situation, or to do an act
Transfer of the right to use any goods for any purpose
Composite supply
Supply of goods, by any unincorporated association or body of persons to a member thereof for cash, deferred payment or other valuable consideration.
Non-taxable Supplies under CGST Act, 2017
Section 7(2) (a) activities or transactions specified in Schedule III;
Section 7(2)(b) such activities or transactions undertaken by the Central Government, a State Government or any local authority in which they are engaged as public authorities, as may be notified by the Government on the recommendations of the Council,
Section 7(3) the transactions that are to be treated as— (a) a supply of goods and not as a supply of services; or (b) a supply of services and not as a supply of goods.
Composite and Mixed Supplies (Section 8 of CGST Act, 2017)
Meaning of Composite and Mixed Supplies
Composite Supply
Mixed supply
Levy and Collection
Composition Levy Exemption from tax Person liable to pay tax
Forward Charge
Reverse Charge
Person who are required to pay tax under section 9(5) of CGST Act (i.e. Electronic Commerce Operator)
Exempt Supply, Non Taxable Supply and Non-GST Supply
Rates of GST
1.3 Classification of Goods and Services under GST – Reading the Rate Schedule 1.4 Time of Supply under GST
Time of Supply in case of Goods
Time of Supply in case of Services
Time of Supply in case of change in Rate of Tax
1.5 Value of Supply under GST 1.6 Place of Supply under GST
Need for determination of Place of Supply
Place of Supply in case of Goods
Place of Supply in case of Services
Place of Supply in case of Online Information Database Access and Retrieval (OIDAR) Services
1.7 Input Tax Credit
Eligibility for taking Input Tax Credit (ITC)
Blocked Credits
Method of Reversal of Credits
Input Tax credit in special circumstances
Input Tax Credit in respect of goods sent for Job-Work
Distribution of credit by Input Service Distributor (ISD)
Recovery of Input Tax Credit
1.8 Registration under GST Law
Persons not liable for registration
Compulsory registration
Concept of Distinct Persons under GST
Procedure for registration
Deemed registration
Casual taxable person
Non-resident taxable person
Cancellation vs. Revocation of registration
1.9 Tax Invoice, Credit and Debit Notes and other documents under GST 1.10 Accounts, Other Records under GST 1.11 Payment of Tax
Computation of Tax liability and payment of tax, Interest on delay payment of tax
1.12 TDS & TCS under GST
TDS (Tax Deducted at Source)
TCS (Tax Collected at Source)
1.13 Returns
Sample of Proposed New Returns under GST
GSTR 1
GSTR 3B
1.14 Matching Concept under GST
What is matching?
GSTR 2A
1.15 Exports, Imports and Refunds under GST
Export of Goods and Services
Import of Goods and Services
Zero Rated Supply
Deemed Export
Refunds in case of Exports
Refunds in case of Inverted Duty Structure
Cash Ledger Refunds
1.16 Assessments, Inspection, Search & Seizure 1.17 Audit under GST
Audit by Revenue Authorities
Audit by Professionals
1.18 The Goods and Services Tax (Compensation to States) Act, 2017 1.19 Advance concepts under GST
Introduction
Demand and recovery, Offence and Penalties
Appeals and Revision
Advance Ruling
Miscellaneous Provisions
1.20 Job Work Under GST
Definitions
Procedure of Job Work
1.21 E _Waybills under GST 1.22 Transitional Provisions 1.23 Anti-profiteering 1.24 Replying to Department Notices under GST – Sample Cases 1.25 Operation of GST Portal – A Walkthrough
2. Customs Law 2.1 Basic Concepts
Introduction
Definitions
Circumstances of Levy
Circumstance under which no duty will be levied
Tax Planning v Tax Management
Remission/ Abatement of Duty – Pilfered Goods, Damaged or Deteriorated Goods, Lost or Destroyed Goods
Derelict, Flotsam etc., Denatured or Mutilated Goods, Re- imported Goods
2.2 Classification under Customs
Customs Tariff Act, 1975
General Rules for the Interpretation of Import Tariff
2.3 Types of Duties
Introduction
Types of Duties
When can provisional measures are imposed
Refund on anti-dumping duty
Project Imports and Eligible Projects
2.4 Valuation under Customs
Introduction
Valuation of Imported Goods : Transaction Value, Related Persons, Valuation in Case
Goods are Sold to Related Persons Adjustments for Costs and Services for Valuation of
Imported Goods
Meaning of Identical Goods, Similar Goods, Transaction Value of Identical Goods and
Similar Goods
Deductive Value, Computed Value and Residual Method of Valuation
Valuation of Export Goods
2.5 Import and Export Procedure
Import Procedure
Export Procedures
Deemed Exports
Stores
Transit and Transhipment of Goods
High Seas Sales
2.6 Warehousing
Licensing of Public Warehouses, Private Warehouses and Special Warehouses
Warehousing Bond, Warehousing Period, Control Over Warehouse Goods
Owner’s Right to Deal with Warehoused Goods
Manufacture in Warehouse
Removal of Goods from Warehouse
Improper Removal of Goods from Warehouse
2.7 Duty Drawback
Duty Drawback Allowable on Re- Export of Duty Paid Goods
Re- Export of Imported Goods (Drawback of Customs Duties) Rules, 1995
Duty Drawback on Imported Materials used in the Manufacture of Goods which are Exported
Customs and Central Excise Duties Drawback Rules, 2017
Interest on Drawback and Prohibition or Regulation of Duty Drawback
Certification 2.8 Baggage & Postal Articles
Introduction
Baggage
Postal Articles
Import of Samples
Baggage Rules, 2016
2.9 Administrative and other Aspects
Introduction
Appointment of officers of customs
Appointment of customs ports, airports, etc.
First & Second Appraisement System
Self-assessment of Customs Duty
Refund of Customs Duty
Risk Management System
Penalties under Customs
Offences and Prosecutions under Customs
Integrated Declaration under Indian Customs Single Window Project
2.10 Customs (Import of Goods at Concessional Rate of Duty) Rules, 2017 2.11 Search, Seizure, Confiscation, and Miscellaneous Provisions
Search of Persons, Premises and Conveyances
Seizure of Goods, Documents and Things
Confiscation of Goods, Conveyances and Penalty on Improper Importation and
Exportation
Burden of Proof and Redemption Fine
Other Miscellaneous Provisions
2.12 Comprehensive Issues under Customs (including Case Studies)
Introduction
Adjudicating Authority
Offences
Appeals under Customs
Authority for Advance Ruling
3. Foreign Trade Policy (FTP) 2015-2020
Basic Concepts of Foreign Trade Policy
FTP – Objectives, Administration and Legal Framework
FTP – Certain Definitions
General Provisions Regarding Imports and Exports
Export Promotion Schemes:
Merchandise Exports From India Scheme (MEIS)
Service Exports From India Scheme (SEIS)
Advance Authorization Scheme
Duty Free Import Authorization (DFIA) Scheme
Export Promotion Capital Goods Scheme (EPCG)
EOU, EHTP, STP & BTP Schemes
Deemed Exports
Special Economic Zone Scheme (With Amended SEZ Rules)
