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Topics covered in Indirect Taxation - GST & Custom video lecture for June / Dec 2019 (Paper 11 CMA Inter Group II) By CA Raj K Agrawal
The concept of Indirect Taxes
• Basis of Taxation
• Features of Indirect Taxes
• Difference between Direct Taxes & Indirect Taxes
• Seventh Schedule to Constitution
Introduction to GST
• Genesis of GST In India
• Power to tax GST (Constitutional Provisions)
• Extent and commencement
• Number of Legislations
• What is GST (Goods and Service Tax)?
• Benefits of GST
• Definition of Good and Service Tax (CST)
• Conceptual framework
• Rates of CGST/SGST and IGST
• Taxes subsumed into GST
• Amendment in 70 Schedule of Constitution
• Goods and Service Tax (Compensation to States) Cess
• Administration under CST
• Brief about CST Council
• Classification system under GST
• Definitions
• Q&A
• MCQ
Law and Collection of GST
• Levy & Collection of GST
• Composition Scheme under GST
• Power to grant Exemptions
• GST rate schedule for Goods
• GST rate schedule for Services
• QM • MCQ
Concept of Supply
• Taxable Event - Supply
• Meaning and Scope of Supply (Sec. 7)
• Schedule-I
• Schedule-Ii
• Schedule-Ill
• Composite and Mixed Supplies (Sec. 8)
• Q&A
• MCQ
Place of Supply
• location of Supplier Of Goods
• Location of Supplier of Services
• Place of Supply of Goals - Supplies within India
• Mace of Supply of Goods - Imported or Exported
• Place of Supply of Services - Supplies within India
• Mace of Supply of Services - Imported or Exported Time of Supply
• Time of Supply of Goods
• Time of Supply of Services
• flange in rate of tax In respect of supply of Goods or Services
• Q&A
• MCQ
Value of Supply
• Value of Taxable Supply
• Determination of Value of Supply Rules
• Q&A
• MCQ
Input Tax Credit
• Eligibility and Conditions for taking ITC
• Apportionment of Credit and Blocked Credit
• CGST Rules. 2017
• Availability of Credit in Special Circumstances
• Manner of Distribution of Credit by LSD
• Q&A
• MCQ
Computation of CST Liability Registration
• Person liable for Registration
• Person not liable for Registration
• Compulsory Registration
• Procedure for Registration
• Registration for United Nations or Consulate or Embassy
• Deemed Registration
• Casual and Non- resident taxable person Registration
• Amendment of Registration
• Cancellation of Registration
• Q&A
• MCQ
Tax Invoke, Credit and Debit Notes
• Tax Invoice
• Credit and Debit Notes
• Q&A
• MCQ
• Sponsorship of sports events
• Skill Development services
• Performance by an artist
• Right to admission to various events
• Services by an unincorporated body or a non-protocol entity
• Other exempt services
• Services exempt from IGST
Accounts and Records
• Accounts and Other Records
• Period of Retention of Accounts
• Q&A
• MCQ
Refunds
• Tourist
• Zero rated supply
• Deemed Exports
• Refund of Tax
• Time limit within which refund claim can be filed
• Application for refund of tax, interest, penalty, fees or any other amount
• Documents (or filing refund claim
• Acknowledgment of refund claim
• Order of refund
• Grant of provisional refund
• Minimum refund claim
• Refund of integrated tax paid on export of goods or services under bond or Letter of Undertaking (LUT)
• Refund to un bodies. Embassies, Mc.
• Interest on Delayed Refunds
• Refund of Integrated Tax paid on Supply of Goods to Tourist leaving India
Job Work
• lob work Procedure
• Analysis
• Direct Supply of goods from lob worker
• Input sent to lob Worker not received back with one year
• Capital Goods Sent to lob Worker not received back with three years
• Waste and Scrap generated at Job worker
• Extension of time limit to receive back input and capital goods
• Q&A
• MCQ
Electronic Commerce
• Electronic Commerce Operator
• Levy of GST on ECommerce Transactions
• Person liable to pay GST for above specified services when supplied through ItCO • Deposit of TCS by ECO to Government Assessment and Audit • Self Assessment • Provisional Assessment • Finalization of Provisional Assessment • Scrutiny of Return • Assessment of Non-Filers of Returns • Assessment of Unregistered Persons • Summary Assessment in Certain Special Cases • Audit by Tax Authorities • Special Audit • Different ways to assess the tax liability by a registered person
Inspection, Search, Seizure and Arrest • Power of Inspection, Search and Seizure • Circumstances for carrying out Inspection • Confiscation of goods • Powers of offker during seardr • Manner of release of confiscated goods, documents • Procedure for conducting search • Bask requirements to be observed during search operations • Search Warrant and its contents • Officers to Assist Proper Officers
Demands and Recovery • Penalty implications, In summary Liability to Pay in Certain Cases • liability to Pay in Case of Transfer of Business • liability of Agent and Principal • liability to Pay in case of an Amalgamation/Merger • liability in case of Company in liquidation • liability of Directors of Private Company • liability of Partners of Flmt to Pay Tax • Liability of Guardlans.Trustees etc • Liability of Court of Wards etc. • Special Provisions Regarding Liability to Pay Tax. Interest or Penalty in Certain Cases • Liability in Other Cases
Offences and Penalties • Section Wise Details of Penalty payable under GST Provisions • Punishments for Certain Offences Appealsand Revisions • Steps of Appeals under GST • General rules for filing GST appeals
• Appeal cannot be filed in certain cases • Powers of Revisional Authority • 'nine Limit Relating to Appeals and Revision
Advance Ruling
• Questions for which Advance Ruling can be sought • Authority for Advance Ruling (AAR) and Appellate Authority for Advance Ruling (AAAR) • Procedure for Obtaining Advance Ruling • Appeals Against order of AAR to the Appellate Authority • Rectification of Mistakes • Applicability of Advance Ruling • Advance Ruling to be void in certain Circumstances • Powers and Procedure of AAR and AAAR
Miscellaneous Provisions • Presumption as to Documents in Certain Cases • Taking Assistance from an Expert • Rectification on Errors Apparent on the Face of Record • Rounding off of Tax etc. • Removal of Difficulties • Power of Government to make Rules & Regulations • Common Portal • Goods and Services Tax Compliance Rating • Power to Take Samples • Burden of Proof • Protection of Action Taken Under This Act • Anti-Profiteering Measure • National Anti-profiteering Authority • Apportionment of Tax and Settlement of Funds (Chapter VIII of the IGST Act) • Methodology of Apportionment • Administration under GST
• Person liable to pay GST for above specified services when ! supplied through ECO • Deposit of TCS by ECO to Govemment Assessment and Audit • Self Assessment • Provisional Assessment • Finalization of Provisional Assessment • Scrutiny of Return • Assessment of Non•Filers of Returns • Assessment of Unregistered Persons • Summary Assessment in Certain Special Cases • Audit by Tax Authorities • Special Audit • Different ways to assess the tax liability by a registered person
Inspection, Search, Seizure and Arrest • Power of Inspection, Search and Seizure • Circumstances for carrying out Inspection • Confiscation of goods • Powers of offker during search • Manner of release of confiscated goods, documents • Procedure for conducting search • Bask requirements to be observed during search operations • Search Warrant and its contents • Officers to Assist Proper Officers
Demands and Recovery • Penalty implications. in summary Liability to Pay In Certain Cases • liability to Pay In Case of Transfer of Business • Liability of Agent and Principal • liability to Pay in case of an Amalgamation/Merger • Liability in case of Company in liquidation • liability of Directors of Private Company • liability of Partners of Finn to Pay Tax • Liability of Guardians. Trustees etc • Liability of Court of Wards etc. • Special Provisions Regarding Liability to Pay Tax. Interest or Penalty in Certain Cases • Liability in Other Cases
Offences and Penalties • Section Wise Details of Penalty payable under CS? Provisions • Punishments for CertainOffences Appeals and Revisions • Steps of Appeals under CST • General rules for filing GST appeals
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