INDIRECT TAX

UNIT - I

Indirect Taxes - Introduction - Features - Objectives of Taxation- Types of taxes- Direct and Indirect taxes - Indirect Tax structure-Merits and Demerits of Indirect Taxes- Recent Developments in Indirect Taxes- Goods and Services Tax Act 2016 - Introduction – Features – Benefits of GST Act.

UNIT - II

Goods and Service Tax - Important Definitions - Taxable Persons – Time of Supply of Goods and Services – Administrative set up – Classes of officers under Central and State goods and services Tax Act - Appointment of Officers – Powers of officers – Levy and collection of GST – Powers to grant exemption from tax.

UNIT - III

Registration – Procedure for registration under Schedule III – Special provisions relating to casual taxable person and non-resident taxable person – Amendment of registration – Cancellation of registration – Revocation of cancellation of registration.

UNIT - IV

Assessment of GST- Self-Assessment – Provisional Assessment – Scrutiny of Returns – Assessment of Non-filers of Returns – Assessment of Unregistered Persons – Assessment in certain Special Cases – Tax Invoice – Credit and Debit Notes – Payment of Tax – Tax Deducted at Source – Electronic Commerce – Definitions - Collection of Tax at Source.

UNIT - V

Customs Act 2062 – Important Definitions – Basics – Importance of Customs Duty - Constitutional authority for levy of Customs Duty – Types of Customs Duty – Prohibition of Importation and Exportation of goods – Valuation of Goods for Customs Duty – Transaction Value – Assessable Value – Computation of Assessable Value and Customs Duty.

REFERENCES

  • Background Material for Goods and Service Tax. July, 2016. National Academy of Customs Excise and Narcotics.
  • Mehrotra & Goyal. 2015. Indirect Taxes, Sahitya Bhavan Publications, Agra.
  • V. Balachandran, “Indirect Taxation”, Sultan Chand & Sons and Kalyani Publishers.
  • Dr. P. Radhakrishnan, “Indirect Taxation”, Kalyani Publishers.

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