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 |