Goods and Services Tax BU B.Com SEP 5th Sem 2024-25 Notes

Unit 1 [Book]
Concept of Tax and the Objective for its Levy VIEW
Concept of Direct and Indirect Tax VIEW
Differences Between Direct Taxation and Indirect Taxation VIEW
Principal of Indirect Taxes in India VIEW
Source Based Vs Destination Based Taxation Structure and its Features VIEW
Need for GST in India VIEW
Historical Background of GST in India VIEW
Framework of GST (Dual Model) VIEW
Various Benefits to be Accrued from Implementation of GST VIEW
Significant Amendments Made in Constitution (101st Amendment) Act, 2016 VIEW
GST Council, Constitution, Power and Functions VIEW
Unit 2 [Book]
Definitions of: Goods, Services, Person, Business, Business Vertical, Consideration, Aggregate Turnover, Fixed Establishment, Casual Taxable Person, Taxable Supplies, Exempt Supply, Zero rated Supply VIEW
Supply, Meaning and Supply with Consideration in Course/ Furtherance of Business VIEW
Supply without consideration; Schedule I, II, and III to the GST Act VIEW
Composite Supply, illustrations on Composite VIEW
Mixed Supply, illustrations on Mixed Supply VIEW
Taxability of Interstate Supply and Intra State Supply VIEW
Concept of Outward Supply and Inward Supply VIEW
Over Sales VIEW
Over Purchases VIEW
Unit 3 [Book]
Registration under GST Based on Turnover Limits VIEW
Casual Registration; Levy and Collection of CGST/SGST/IGST VIEW
Apportionment of GST Between Centre and State VIEW
Composition Levy VIEW
Reverse Charge Mechanism (RCM) VIEW
Classification of Rate of Taxes under GST and Composition Scheme VIEW
Tax Invoice and Essential Elements in Invoice VIEW
GST Returns and other regular Compliances VIEW
illustrations on Apportionment of GST Between Centre and State VIEW
Unit 4 [Book]
Time of Supply for Goods/Services (Point of Tax) for Both Forward and Reverse Charge When Consideration is Received in Money and When Consideration Other than Money VIEW
Residuary Cases- illustrations VIEW
Value of Supply to Unrelated Persons When Price is the Sole Consideration of the Supply VIEW
Inclusions and Exclusion from Value of Supply VIEW
Concept of Discount and its Treatment VIEW
Determination of Transaction Value and Taxable Value of Supply of Goods and Services VIEW
Unit 5 [Book]
Definition of: Input Goods, Input Services, Capital Goods, Input on Capital Goods VIEW
Concept of Elimination of Tax Cascading Effect through Value added Tax System VIEW
Concept of Input Tax Credit, Eligibility and Conditions for taking ITC VIEW
Cross Utilization of ITC Between Goods and Services VIEW
Apportionment of Credit and Blocked Credits VIEW
Availability of Credit in Special Circumstances VIEW
Availing and Utilization of ITC- -illustrations VIEW
GST Returns VIEW
Concept of Electronic Credit Ledger, Electronic Cash Ledger VIEW
Brief Introduction and Contents in- Returns for Outward Supply (GSTR-1) VIEW
Returns for Inward Supply (GSTR-2) VIEW
Final Monthly Returns (GSTR-3) VIEW
Annual Returns (GSTR-9) VIEW
GST Network, Structure, Vision and Mission, Powers and Functions VIEW

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