Goods & Services Tax (GST) Law & Practice with MCQs 2017 by CA. Nitesh Parashar, Anuj Harshwardhan Sharma

Goods & Services Tax (GST) Law & Practice with MCQs

Chapter 1

Overview of GST

1. Overview of GST
2. Challenges of Previous Tax structure

Chapter 2

                                         GST International Scenario

Chapter 3

GST in India

1. GST in India
2. Benefits of GST
3. History of GST
4. Brief Flash Back mentioning the key milestones of the journey of GST in India
5. GST Council

6       Functions of the GST Council seek to include making recommendations on

7. Framework of GST

Chapter 4

Introduction to CGST Act, 2017

1. Important Definitions
2. Factors that should be considered in determining whether goods or services are related include – (IMPORTANT)
3. Levy of GST
4. Liability under GST

Chapter 5

Supply

1. Characteristics of Supply
2. Schedule I under CGST
3. Schedule II under CGST
4. Activities which are neither supply of goods nor supply of services
5. Schedule III activities include

Chapter 6

                                      Composite and Mixed Supply

Chapter 7

                                                 Composition Levy

Chapter 8

                                                   Time of Supply

1. “Time of issue of invoice for supply”
2. Time of supply of goods (Default Rule)
3. Time of supply of services (Default Rule)
4. Time of supply of goods when tax is to be paid on reverse charge basis

(1)     Earliest of the following dates

5. Time of supply of services when tax is to be paid on reverse charge basis

(1)     Earliest of the following dates

6. Time of supply of services in case of supply by Associated Enterprises located outside India
7. Time of supply in case of supply of vouchers
8. Time of supply of goods or services (Residual provisions)
9. Time of supply of goods or services related to an addition in the value of supply by way of interest, late fees or penalty
10. Change in Rate of Tax in respect of supply of goods or services
11. Supply is completed before the change in rate of tax
12. Supply is completed after the change in rate of tax
13. Date of receipt of payment in case of change in rate of tax

Chapter 9

Value of Supply

1. Exclusion of Discounts from Transaction value
2. Deposit is not consideration

Chapter 10

Input Tax Credit

1. GST comprises of the following levies
2. Following six conditions are required to be fulfilled by a registered taxable person (IMPORTANT)
3. Important Points related to ITC
4. Input Tax Credit Restriction

Chapter 11

Job Work

1. Conditions
2. Input tax credit

Chapter 12

Accounts and Records

1. Important Points
2. Generation and maintenance of electronic records

Chapter 13

Tax Invoice, Credit and Debit Notes

1. Invoice
2. Debit note
3. Credit note
4. Tax Invoices and its Types

(1)   Tax invoice

(2)   Manner of issuing invoice

(3)   Bill of supply

(4)   Receipt voucher

Chapter 14

Registration

1. Needs and advantages of registration
2. Liability to register
3. ‘Casual Taxable Person’
4. Non Resident taxable person
5. Reverse Charge
6. Persons not liable for registration
7. Summary Chart of Registration for QUICK REVISION

Chapter 15

Returns

1. Following table lists the various types of returns under GST Law
2. Filing Process

Chapter 16

Payment

1. Electronic Cash Ledger
2. E-Debit or Credit ledger
3. Interest in case of delay payment of GST
4. Utilisation of ITC
5. Utilization of CGST Credit
6. Utilization of SGST
7. Utilization of IGST

Chapter 17

Refund of GST

1. Situations Leading to Refund Claims
2. Documents to be required with Refund Application
3. Consumer Welfare Fund
4. Interest on delayed refunds

Chapter 18

Assessment under GST

1. Provisional assessment
2. Assessment of unregistered person
3. Summary assessment
4. Self-Assessment

Chapter 19

Audit

1. General Audit
2. Special Audit

Chapter 20

Inspection, Search and Seizure

1. Inspection
2. Inspection of goods while they are in transit
3. Access to the premises of taxpayer
4. Detention of goods
5. Bond for release of seized goods
6. Procedure in respect of seized goods
7. Arrest
8. Punishment [Section 132(1)]

Chapter 21

Introduction to IGST, 2017

1. Important Definitions
2. “Continuous journey”
3. “Export of goods”
4. “Export of services”
5. “Fixed establishment”
6. “Import of goods”
7. “Import of services”
8. “Location of the recipient of services”
9. “Location of the supplier of services”
10. “Non-taxable online recipient”
11. “Online information and database access or retrieval services”

Chapter 22

                                                 Nature of Supply

Chapter 23

Place of Supply

1. Place of Supply of Goods
2. Place of Supply of Services
3. Place of supply of Telecommunication services

Chapter 24

UTGST (Union Territory Goods and Service Tax Act, 2017)

1. Applicability of the UTGST Act
2. Definitions
3. Levy and collection of Union Territory Goods and Services Tax
4. Exemption from GST
5. Input Tax Credit and its adjustment
6. Migration of existing taxable person to UTGST
7. Input Tax Credit on Input Stocks
8. Input Tax Credit: Taxable as well as exempted Goods
9. Input Tax Credit: Goods in Transit
10. Switch over from Composition levy
11. Transitional provisions relating to job work
12. Miscellaneous Transition Provisions
13. Demands and Recovery
14. Advance Ruling
15. Constitution of Appellate Authority for Advance Ruling
16. Power to make rules
17. Power to issue Instructions or Directions
18. Removal of Difficulties

Chapter 25

Goods and Services Tax (Compensation to States) Act, 2017

 

1. Salient Features of Compensation Act
2. Objectives of the Act
3. Definitions
4. Levy and Collection of Cess
5. Returns, Payments and Refunds
6. Other Provisions Relating to Cess
7. 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

8. Note on State GST Laws & Rules

Multiple Choice Questions

Answers to MCQs