- Author: Tachub India
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DURATION
Classroom
Hours
0
Virtual
Hours
0
Elearning
Hours
0
AVAILABLE MODE
Classroom
Y
Virtual
Y
Elearning
Y
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GOODS & SERVICE TAX
Brief Overview
The introduction to this section will discuss Goods and Services Tax(GST) which is a standard tax in India. India has been going through a lot of changes recently with the implementation of the country’s Goods and Service tax. The changes have come into effect from July 1st, 2017.
The GST is expected to introduce a major change in Indian commerce as well as in global trade as it will help curb corruption and increase transparency. It will also create a level playing field for domestic manufacturers now that they won’t have to worry about their prices when competing with imports.
As a result, the GST is set to unleash unprecedented consumer demand for goods and services across India, which should help drive economic growth and create more jobs for young Indians.
The GST is expected to introduce a major change in Indian commerce as well as in global trade as it will help curb corruption and increase transparency. It will also create a level playing field for domestic manufacturers now that they won’t have to worry about their prices when competing with imports.
As a result, the GST is set to unleash unprecedented consumer demand for goods and services across India, which should help drive economic growth and create more jobs for young Indians.
OBJECTIVES OF PROGRAM
Overview of GST structure
- Legislative competence
- Origin of the Act
- Structure of the Acts
- Power bifurcation between Center and States
- Brief on GST council
Determining Supply
- General understanding of Sec 7 of CGST
- In depth analysis of Sch I, II and III of the Act
- Understanding charging section and non-taxable supplies
- Composite v. Mixed v. Normal Supply
Various aspects of supply
- Value
- Place
- Time
Input Tax credit
- General Conditions
- Allowable
- Blocked
- Partially allowed
- Documentation to be followed
GST Returns
- GSTR-1, 2 & 3
- TRANS-1
Miscellaneous Provisions
- Reverse Charge and Unregistered dealers
- Tax invoice, Debit and Credit notes
- Payment of Tax
- Refunds
- Accounts, Records and Audits
- Transition provisions
Industry Specific Issues
- Applicable rates on various charges
- Exemptions for the sector
- Import of services such as architectural services
- Implications on Joint Development agreements
- Taxability of FSI / TDR
- Intricacies in Input Tax credit
- Flat Cancellations
- Government Support services
- Alignment with Sec 171 (anti-profiteering)
- Contracts renegotiations (FOC material provided)
- Accounting implications and modifications required
METHODOLOGY:
ILT, Group discussion , case study
Who is the course for?
Non Finance Executives , Entrepreneurs , Department Heads , Employees aspiring to grow to highest position in the organisation , MBA Students