Key features of the Book: Present indirect taxesΓÇöshortcomings, double taxation, cascading GST ΓÇô Need and Necessity, what it is, how it works, etc. Journey of GST, Proposed model of GST in India and best international practices Taxes to be subsumed and not to be subsumed in GST FAQs & practical illustrations of various aspects of GST, in respective chapters on intra-state/inter-state supply of goods and services, exemption and exclusion, determination of revenue neutral rate (RNR), meaning of supply, place of supply of goods and services, time of supply, valuation, classification, etc . Import and Export of goods and services under GST Impact of GST on various sectors/ industries Procedural aspects of GSTΓÇöRegistration, Payment, Return, Adjudication, Appeals, Journal Entries etc. Detailed analysis of new and amended ArticlesΓÇöclause by clause proposed in the 122nd Constitutional Amendment Bill, 2014 for GST Transitional issues from present regime of indirect taxes to GSTΓÇöclosing stock, Cenvat/ VAT credit, continuation of excise/ VAT exemption, litigation pending on existing indirect taxes, valuation, FOC supply, MRP concept, etc. Comparative study of the 115th Constitutional Amendment Bill, 2011 with the 122nd Constitutional Amendment Bill, 2014 Discussion on: Need of integrated IT InfrastructureΓÇöa prerequisite for Goods and Services Tax. Need for harmonization of taxation power coupled with various mechanisms for dispute settlement Preparation for GST and Challenges ahead Appendices containing First Discussion paper on GST, Report of 13th Finance Commission, Comments of Department of revenue on First Discussion Paper, 122nd Constitutional Amendment Bill, 2014, Report of Select Panel of Rajya Sabha, 115th Constitutional Amendment Bill, 2011, etc. Includes DVD containing 1. Video presentation on: GST ΓÇô Need and Necessity, Overview of Dual Model of GST, Highlights of 122nd Constitutional Amendment Bill, 2014 2. PPT presentation on GST. 3. Draft Reports on business processes for GST: Payment Process Refund Process Registration About the Author:Bimal JainFCA, FCS, LLB, Bimal has more than 21 years of experience in Indirect Taxation ΓÇô GST, Service tax, Excise, Customs, VAT/CST, Foreign Trade Policy, DGFT matters, etc. Bimal Jain qualified as a Chartered Accountant in May 1994 and as a Company Secretary in December 2006. He has worked in renowned Companies viz. LG Electronics India Pvt. Ltd, Honda Motorcycle & Scooters India Pvt. Ltd, Hindustan Development Corporation Ltd, Khaitan & Company. Currently, he is the Executive Consultant of A2Z Taxcorp LLP. Bimal is Chairman of the Indirect Tax Committee of PHD Chamber of Commerce, Chairman of the Corporate Advisory Committee of IPEM Group of Institutions, Member of Indirect Tax Committee of FICCI & Assocham, Member of Service Tax Committee of ICAI, ICSI and ICMA and Member of eminent faculties in Indirect tax committee of ICAI/ ICSI/ ICMA. He was awarded Best Participant Award in SMTP ΓÇô 117th Batch by ICSI, Business Leader Award by Amity School Noida, Best Speaker Award by NIRC ΓÇô ICAI/ ICMA and Young Achievers Award at Igniting Minds, 2015. He regularly writes articles on multiple indirect tax issues and has also authored a book, “Service Tax Voluntary Compliance Encouragement Scheme, 2013”. He has also represented PHD Chamber of Commerce before various Government Committees viz. Ease of Business Committee, Empowered Committee of State Finance Ministers, etc. Bimal’s core competency and area of expertise are indirect taxation, international and corporate taxation. He specializes in all aspects of GST, Excise, Service tax, Customs, Sales tax/VAT laws, Free trade/economic cooperation agreements, anti-dumping duty, foreign trade policy, etc., and carrying a blend of industrial and professional acumen, knowledge and experience in carrying out diagnostic review of business operations, opinion & advisory services, process review, structuring of various business models, litigation services at all appropriate forum including Commissioner(Appeals), CESTAT, representation before the TRU/ CBEC/ DGFT, etc., for various matters concerning to Trade, industry and commerce. Isha Bansal, ACS, B.Com (Hons.) Isha has more than 4 years of experience in indirect taxation matters. She qualified as a Company Secretary in June 2011, after obtaining a Bachelor’s degree in Commerce (Hons.) from University of Delhi in 2008. She worked as an intern with DLF group looking after company secretarial and legal matters before moving to indirect taxation for which she had interest and flair. Thereafter, she joined A2Z Taxcorp LLP and is presently working as Senior Associate, providing legal and advisory services to various multinational companies in the areas of GST, excise, customs, VAT, service tax, anti-dumping duty, foreign trade policy, etc. Her in-depth knowledge, drive and strategic insights have contributed immensely to the organizations she has worked with. Isha has done extensive study on GST in India and has been following all the developments in the rollout of GST by the Indian Government. GST is therefore one of her core competency areas along with other indirect tax laws.
Bimal Jain, Isha Bansal