Goods & Services Tax (GST) Law & Practice with MCQs
Chapter 1
Overview of GST
- Overview of GST
- Challenges of Previous Tax structure
Chapter 2
GST International Scenario
Chapter 3
GST in India
- GST in India
- Benefits of GST
- History of GST
- Brief Flash Back mentioning the key milestones of the journey of GST in India
- GST Council
6 Functions of the GST Council seek to include making recommendations on
- Framework of GST
Chapter 4
Introduction to CGST Act, 2017
- Important Definitions
- Factors that should be considered in determining whether goods or services are related include – (IMPORTANT)
- Levy of GST
- Liability under GST
Chapter 5
Supply
- Characteristics of Supply
- Schedule I under CGST
- Schedule II under CGST
- Activities which are neither supply of goods nor supply of services
- Schedule III activities include
Chapter 6
Composite and Mixed Supply
Chapter 7
Composition Levy
Chapter 8
Time of Supply
- “Time of issue of invoice for supply”
- Time of supply of goods (Default Rule)
- Time of supply of services (Default Rule)
- Time of supply of goods when tax is to be paid on reverse charge basis
(1) Earliest of the following dates
- Time of supply of services when tax is to be paid on reverse charge basis
(1) Earliest of the following dates
- Time of supply of services in case of supply by Associated Enterprises located outside India
- Time of supply in case of supply of vouchers
- Time of supply of goods or services (Residual provisions)
- Time of supply of goods or services related to an addition in the value of supply by way of interest, late fees or penalty
- Change in Rate of Tax in respect of supply of goods or services
- Supply is completed before the change in rate of tax
- Supply is completed after the change in rate of tax
- Date of receipt of payment in case of change in rate of tax
Chapter 9
Value of Supply
- Exclusion of Discounts from Transaction value
- Deposit is not consideration
Chapter 10
Input Tax Credit
- GST comprises of the following levies
- Following six conditions are required to be fulfilled by a registered taxable person (IMPORTANT)
- Important Points related to ITC
- Input Tax Credit Restriction
Chapter 11
Job Work
- Conditions
- Input tax credit
Chapter 12
Accounts and Records
- Important Points
- Generation and maintenance of electronic records
Chapter 13
Tax Invoice, Credit and Debit Notes
- Invoice
- Debit note
- Credit note
- Tax Invoices and its Types
(1) Tax invoice
(2) Manner of issuing invoice
(3) Bill of supply
(4) Receipt voucher
Chapter 14
Registration
- Needs and advantages of registration
- Liability to register
- ‘Casual Taxable Person’
- Non Resident taxable person
- Reverse Charge
- Persons not liable for registration
- Summary Chart of Registration for QUICK REVISION
Chapter 15
Returns
- Following table lists the various types of returns under GST Law
- Filing Process
Chapter 16
Payment
- Electronic Cash Ledger
- E-Debit or Credit ledger
- Interest in case of delay payment of GST
- Utilisation of ITC
- Utilization of CGST Credit
- Utilization of SGST
- Utilization of IGST
Chapter 17
Refund of GST
- Situations Leading to Refund Claims
- Documents to be required with Refund Application
- Consumer Welfare Fund
- Interest on delayed refunds
Chapter 18
Assessment under GST
- Provisional assessment
- Assessment of unregistered person
- Summary assessment
- Self-Assessment
Chapter 19
Audit
- General Audit
- Special Audit
Chapter 20
Inspection, Search and Seizure
- Inspection
- Inspection of goods while they are in transit
- Access to the premises of taxpayer
- Detention of goods
- Bond for release of seized goods
- Procedure in respect of seized goods
- Arrest
- Punishment [Section 132(1)]
Chapter 21
Introduction to IGST, 2017
- Important Definitions
- “Continuous journey”
- “Export of goods”
- “Export of services”
- “Fixed establishment”
- “Import of goods”
- “Import of services”
- “Location of the recipient of services”
- “Location of the supplier of services”
- “Non-taxable online recipient”
- “Online information and database access or retrieval services”
Chapter 22
Nature of Supply
Chapter 23
Place of Supply
- Place of Supply of Goods
- Place of Supply of Services
- Place of supply of Telecommunication services
Chapter 24
UTGST (Union Territory Goods and Service Tax Act, 2017)
- Applicability of the UTGST Act
- Definitions
- Levy and collection of Union Territory Goods and Services Tax
- Exemption from GST
- Input Tax Credit and its adjustment
- Migration of existing taxable person to UTGST
- Input Tax Credit on Input Stocks
- Input Tax Credit: Taxable as well as exempted Goods
- Input Tax Credit: Goods in Transit
- Switch over from Composition levy
- Transitional provisions relating to job work
- Miscellaneous Transition Provisions
- Demands and Recovery
- Advance Ruling
- Constitution of Appellate Authority for Advance Ruling
- Power to make rules
- Power to issue Instructions or Directions
- Removal of Difficulties
Chapter 25
Goods and Services Tax (Compensation to States) Act, 2017
- Salient Features of Compensation Act
- Objectives of the Act
- Definitions
- Levy and Collection of Cess
- Returns, Payments and Refunds
- Other Provisions Relating to Cess
- Salient features of the GST Compensation Act
(1) Levy of cess
(2) Determination of Base Year Revenue
(3) Input Tax Credit and returns
(4) General
- Note on State GST Laws & Rules
Multiple Choice Questions
Answers to MCQs
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