Note: Subjects related to applicable statutes shall be read with amendments made from time to time.
SECTION - A : CANONS OF TAXATION – INDIRECT TAX GST - 80%
Goods and Services Tax Act & Rules
1.0 Introduction
What is GST
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)
Goods and Services Tax Network (GSTN)
Functions of 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
Definitions under CGST Laws
2.0 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 Renting of Immovable Property
Information Technology software
Transfer of the right to use any goods for any purpose
Composite supply
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 (i.e. Electronic Commerce Operator) Act
3.0 Time, Value and Place of Supply
Time of supply
Place of supply
Value of supply
Change in rate of tax in respect of supply of goods or services
4.0 Input Tax Credit
Eligibility for taking Input Tax Credit (ITC)
Blocked Credits
Method of Reversal of Credits
Input Tax Credit in respect of goods sent for Job-Work
Distribution of credit by Input Service Distributor (ISD)
5.0 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
6.0 Tax Invoice, Credit and Debit Notes and other documents under GST 7.0 Accounts, Other Records 8.0 Payment of Tax
Computation of Tax liability and payment of tax, Interest on delay payment of tax
9.0 TDS & TCS under GST 10.0 Returns 11.0 Matching Concept under GST 12.0 GST Audit by Professionals 13.0 E _Waybills under GST - Basics
