Goods And Services Tax Gst In India

Studies the evolution of GST in India since the Report of the Indirect Taxation Enquiry Committee of 1977.

About the Goods and Services Tax Book: The law stated in this book is as amended up to June 2020. Most authentic, up-to-date, and comprehensive textbook on GST. The book covers all topics of the syllabi of various universities for undergraduate and postgraduate courses. In the present revised edition almost all the chapters have been thoroughly revised and updated and a chapter on Payment and Refund of Tax (with TDS and TCS) has been completely rewritten. At the end of each chapter large number of MCQ and Short Questions (Over 300 in number) with Ans. have been given which enables students to learn faster. This unique feature will serve as the backbone in understanding the whole chapter. Law relating to GST has been discussed thoroughly in easy language and in a lucid style. The questions asked in recent university examinations have been incorporated in the book. Every chapter contains a complete explanation of the topic with suitable examples and, where necessary, followed by graded solved illustrations and questions for practice with Ans.

Strictly according the the syllabus prescribed by: Himachal Pradesh University, Shimla for B.Com.-III Guru Nanak Dev University, Amritsar for B.Com. (Pass & Hons.), Sem.-IV Panjab University, Chandigarh for B.Com.-II, Sem.-III and BBA-II, Sem.-IV

1.Overview of GST, 2. Important Definitions, 3. Supply Under GST, 4. Levy and Collection of Tax, 5. Exemption from GST, 6. Comosition levy, 7. Nature and Place of Supply, 8. Time of Supply, 9. Value of Supply, 10. Input Tax Credit, 11. Registration, 12. Tax Invoice, Credit and Debit Notes, 13. E-Way Bill, 14. Payment of Tax, 15. Return, 16. Job Work, 17. Tax Deduction and Tax Collection at Source, 18. Account, Assessment amnd Adult, 19. Insepection, Search, Seizure and Arrest, 20. The Intergrated Goods and Services tax Act (Definition, Features Levy and Collection of IGST), 21. Refunds, 22. Anti- Profiteering Measure, 23. Avoidance of Dual Control, 24. Demand and Recovery, 25. Miscellaneous Provisions of Transitional Provisions, 26. Penalties.

Restructuring of the tax system has constituted a major component of fiscal reforms in India since 1991. The main focus of the tax reforms has been on simplification and rationalization of both direct and indirect taxes, with the objective of augmenting revenues and removing anomalies in the tax structure. Tax reforms in recent years have brought the tax system much closer to international tax practices. The current structure of taxes on goods and services in India is highly complex, riddled with exemptions, and characterized by complicated compliance procedures. The strategy of the Government in respect of indirect taxes is to continue the tariff reforms process towards mean Asian levels of customs tariff, convergence towards a single rate of excise duty (with some exceptions), widening of service tax base, and a phased move towards a fully-integrated goods and services tax (GST). This book traces the evolution of taxation of goods and services (indirect taxes) in India during the post-Independence period. More importantly, it analyzes the present structure of indirect taxes and the harmonization measures undertaken by the Government in this regard. It also examines and sets forth core issues pertaining to the proposed national level GST which is expected to be rolled out in the near future. [Subject: India Studies, Economics, Taxation, Public Finance, Public Policy, Business]

1. Overview of GST, 2. Important Definitions, 3. Supply Under GST, 4. Levy and Collection of Tax, 5. Exemption From GST, 6.Composition Levy, 7. Nature and Place of Supply, 8. Time of Supply, 9. Value of Supply, 10. Input Tax Credit, 11. Registration, 12. Tax Invoice, Credit and Debit Notes, 13.E-Way Bill, 14.Paymeny of Tax, 15. Return, 16.Job Work, 17. Tax Deduction and Tax Collection at Sources, 18. Account , Assessement and audit, 19. Insepction, Search, Seizure and Arrest, 20. The Intergrated Goods and Service Tax Act (Definition, Features, Levy and Collection of IGST), 21. Refunds, 22. Anti - Profiteering Measure, 23.Avoidance of Dual Control, 24. Demand and Recovvery, 25. Miscellaneous Provision of Transitional Provisions, 26. Penalties.