IGP Publication Goods & Service Tax Book Vijender Aggarwal May 2020

IGP Publication Goods & Service Tax Book Vijender Aggarwal May 2020

Description

Goods & Services Tax (GST) is a major reform in the area of indirect taxes which is expected to bring about a transformation in the tax landscape across India as multi-incidence levies have now been replaced by a single-incidence levy, thereby mitigating tax distortions and cascading effects besides reducing the cost of goods and services in the hands of the final consumer I am glad to present the 4th Edition of GST Book which comprehensively covers the relevant provisions of GST law which are applicable at CA-IPC/CA-Intermediate Level. This Edition has been specifically prepared for students appearing in May 2020 CA-IPC/CA-Intermediate Examination of ICAI.

As you all must know, ICAI has introduced a “Revised Scheme of Education and Training” with effect from July 1, 2017. I hereby, wish to clarify that the Syllabus of “Paper Taxation” hasn’t undergone any significant change due to the introduction of new curriculum. Therefore, the present material caters to the needs of all students who wish to appear in Nov 2019 May 2020 examination irrespective of the fact whether they are registered under the erstwhile CA-IPC curriculum ar the newly introduced CA- Intermediate curriculum. The most significant change in “Paper 4 – Taxation” owing to the introduction of the new curriculum is the bifurcation of marks between direct taxes and indirect taxes. The bifurcation of marks as applicable under the erstwhile syllabus and the new syllabus has been captured in the table given below

Features of 4th Edition

• The main emphasis of our material is to present an otherwise complicated subject in a simplified and reader-friendly manner so as to ignite an interest amongst the students for this subject. Conscious efforts have been made to keep the language of the material simple and crisp. The legal provisions have been duly supported by examples to illustrate the real-time application of the subject. In order to ensure quick revision, the points which need to be revised at the last moment have been highlighted in “magenta” Moreover, the legal provisions have been printed in a single-sided mode so that the students can make use of the available blank page to make their own notes, summaries and flowcharts in this material itself. This Edition is updated up to 30th April 2019
• This Edition comprehensively covers the Study Material issued by the BOS of ICAI. Practical illustrations, diagrams, flowcharts and images have also been incorporated throughout the material so that the students find the material easy, attractive and interesting. The goal is to provide the students with the most updated and complete material so that they are not required to refer to any other material whatsoever

Contents

1. Introduction to GST
2. Change of GST
3. Supply under GST
4. Composition Scheme
5. Time of Supply
6. Value of Supply
7. Input Tax Credit
8. Exemptions under GST
9. Registration
10. Documentation under GST
11. Payment of GST
12. Returns

About The Author:

Vijender Aggarwal pursued his graduation in B.Com (Hons) from Shri Ram College of Commerce, Delhi University. His academic credentials include scoring 91% marks at CA-CPT level and securing All India Rank 1 at both CA-IPCC level and CA Final level, a feat rarely matched in the field of Chartered Accountancy. He also added another feather in his cap by scoring 92% marks in Paper 4: Taxation at CA-IPCC level which apparently was the highest score Pan-India in Taxation paper in CA-IPCC Nov 2010 attempt and for which he was awarded the Best Paper Award by ICAI. He has also been awarded the ?Best Paper Award by ICAI for his meritorious performance in Paper 5: Advanced Management Accounting and Paper 8: Indirect Taxes at CA-Final level. During his articleship stint at BMR Advisors (one of the best tax consultancy firms in India and now a part of Deloitte Touche Tohmatsu India, one of the Big4s), he gathered an invaluable experience of advising multinational and domestic clients across all areas of taxation, ranging from advisory and transaction structuring to compliances and litigation