Taxmann's Students' Guide to GST & Customs Law

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UNIT 1 : GST

CHAPTER 1

BASIC CONCEPTS OF GST

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Contents

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CHAPTER 2

CONCEPT OF SUPPLY

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Contents

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CHAPTER 3

LEVY OF GST

Contents

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CHAPTER 4

EXEMPTIONS FROM GST

CHAPTER 5

PLACE OF SUPPLY

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CHAPTER 6

TIME OF SUPPLY

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Contents

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CHAPTER 7

VALUE OF TAXABLE SUPPLY

CHAPTER 8

REVERSE CHARGE MECHANISM

Contents

xii

CHAPTER 9

INPUT TAX CREDIT

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CHAPTER 10

COMPOSITION SCHEME AND ALTERNATIVE COMPOSITION SCHEME

xiii

Contents

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CHAPTER 11

REGISTRATION

Contents

xiv

CHAPTER 12

TAX INVOICE, CREDIT AND DEBIT NOTES

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Contents

CHAPTER 13

RETURNS, TAX PAYMENT AND INTEREST

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Contents

xvi

CHAPTER 14

PROVISIONS GOVERNING REAL ESTATE SERVICES

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CHAPTER 15

PROBLEMS ON GST

UNIT 2 : CUSTOMS DUTY CHAPTER 16

BASIC CONCEPTS OF CUSTOMS LAW

CHAPTER 17

TYPES OF CUSTOMS DUTY

xvii

Contents

CHAPTER 18

VALUATION

CHAPTER 19

CUSTOMS PROCEDURES, BAGGAGE, EXEMPTIONS

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APPENDIX 1 GST EXAMINATIONS AND ANSWERS CA Intermediate, May 2023 CA Intermediate, November 2022 CA Intermediate, May 2022 CA Intermediate, December 2021 (New) CA Intermediate, July 2021 (New) CA Intermediate, July 2021 (Old) CA Intermediate, January 2021 (New) CA Intermediate (IPC), January 2021 (Old) CA Intermediate, November 2020 (New) CA Intermediate, November 2019 (New) CA Intermediate, May 2019 (New) CA Intermediate, November 2018 (New) Delhi University B.Com. (Hons.), May 2018

APPENDIX 2

ANSWERS TO UNSOLVED EXERCISES

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Tax invoice

Para 493.2

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Para 493.3

Input tax credit

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Receipt of goods/services

Para 493.5

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Restriction of 100 per cent is not supplier wise -

Ineligible input tax credit -

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Separate restriction -

Reversal of input tax credit in the case of non-payment of tax by the supplier -

120 per cent during October 9, 2019 and December 31, 2019 or 110 per cent during January 1, 2020 and December 31, 2020 or 105 per cent during January 1, 2021 and December 31, 2021.

Para 493.6

Input tax credit

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Time-limit to avail input tax credit

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Failure to make payment to supplier of input goods/services -

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Tax component of capital goods on which depreciation is claimed under income-tax -

Items not eligible for input credit -

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Items not eligible for input credit

Para 493.9

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Car

5 persons

Used by employees of taxpayer for performing official duties

Not available

Mini bus

13 persons

Used by employees of taxpayer for performing official duties

Not available

Mini bus

14 persons

Used by employees of taxpayer for performing official duties

Available

Para 493.9

Input tax credit

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When input tax credit is available -

a. b. c. d. e.

Similar rule for vessels/aircraft taken on lease -

b i ­ Similar rule for input services of general insurance, servicing, repair and maintenance of vessels or aircraft -

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Items not eligible for input credit

Para 493.9

SERVICES OF GENERAL INSURANCE, SERVICING, REPAIR AND MAINTENANCE RELATING TO ABOVE MOTOR VEHICLES, VESSELS

a aa see ­

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OR AIRCRAFT [SEC. 17(5)( )]

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SUPPLY OF GOODS/SERVICES PERTAINING TO FOOD, BEVERAGES, OUTDOOR CATERING, BEAUTY TREATMENT, HEALTH SERVICES, COSMETIC AND PLASTIC SURGERY, LEASING OF VEHICLES, VESSELS OR AIRCRAFT [SEC. 17(5)( )( )] ­ a. b. c. d. e. f. a aa see ­ g.

Input tax credit available if input supply is used for making outward taxable supply of same category - ­ ­ ­

Input tax credit available where service is provided by an employer under legal obligation - ­ ­

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Para 493.9

Input tax credit

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Input tax credit available where service is provided by an employer under legal obligation -

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Input tax credit available if provided under legal obligation -

Input tax credit available for further supply of works contract service -

Construction includes renovation, alteration, etc. -

Plant and machinery -

Construction includes renovation, alteration, etc. -

Plant and machinery -

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How ITC is allowed for payment of CGST, SGST, UTGST and IGST

Para 494

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Para 494.1

Input tax credit

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Order of utilization of input tax credit

Para 494.1

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Para 495

Input tax credit

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Mode of computation of ITC pertaining to capital goods Different components

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Para 496 Reference

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zero

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Notes 1.

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6. ¢ £ ¤ plus

¥ ¤ 7.

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Para 497

Input tax credit

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STUDENTS' GUIDE TO GST & CUSTOMS LAW AUTHOR PUBLISHER DATE OF PUBLICATION EDITION ISBN NO NO. OF PAGES BINDING TYPE

: : : : : : :

VINOD K. SINGHANIA TAXMANN JANUARY 2024 12th Edition 9789357784917 358 PAPERBACK

Rs. 895 USD 12

DESCRIPTION This book has been written to minimize the need to consult multiple books while preparing for the exam and give the students a step-by-step guide for learning the subject.

This book is written in simple language, explaining the provision of the law in a step-by-step manner with the help of suitable 'original' illustrations, without resorting to paraphrasing of sections and legal jargons. This book helps bridge the gap between theory and application of the subject matter.

The Present Publication is the 12th Edition & updated till 1st January 2024. This book is authored by Dr Vinod K. Singhania, with the following noteworthy features: • Coverage of this book includes: o Unit 1 covers GST comprehensively o Unit 2 covers Custom Duty comprehensively • [Self-Learning/Practice Book] Features teach yourself technique enabling students to learn faster • [Analytical Discussion] Each para starts with analytical discussions supported by 'well-thought-out-original-problems'. A unique style of illustrating all complex provisions has been adopted • [Theoretical Discussions Supplemented by 300+ 'Unique' Illustrations] providing solutions to the knotty problems with reference to the latest position of the law • [Unique Illustrations] The problems/illustrations provided in this book have neither come in any examination paper nor are these to be found in print anywhere • [Solved/Unsolved Problems for Practice] Every solved problem is followed by an unsolved exercise, for which answers are given at the end of the book • [Follows Six-Sigma Approach] to achieve the benchmark of 'Zero-Error'

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