Goods and Services Tax
Subject Overview
Goods and Services Tax is the dedicated paper on India's biggest indirect tax reform — how GST actually works, from the constitutional background to day-to-day compliance. You'll cover the shortcomings of the pre-GST tax system and the constitutional framework, the CGST/IGST/SGST/UTGST model and the concept of supply, exemptions and computation of GST liability, and close with the procedural side — registration, tax invoices, e-way bills, return filing, and refunds. This is a 6-credit core paper across 4 units, directly building on Income Tax Law & Practice from Semester 4.
Unit-wise Syllabus
4 units — click WhatsApp below to get the full notes for each
Unit 1: Introduction to indirect taxes & GST
Background and concept of indirect taxes, major shortcomings of the pre-GST era, administration of indirect taxation in India, basic concept and overview of GST, need and benefits, constitutional framework of GST
Unit 2: The GST model
CGST, IGST, SGST and UTGST, concept of taxable event, concept of supply, composite supply and mixed supply, provisions for levy and collection of CGST and IGST, composition scheme, reverse charge mechanism
Unit 3: Exemptions & GST liability
Power of granting exemptions, basic exemptions under GST, concept of time, value and place of taxable supply, input tax credit and computation of GST liability
Unit 4: Procedural compliance under GST
Registration, tax invoice, debit and credit notes, accounts and records, electronic way bill, provisions for filing returns, payment of tax, and refunds