B.Com 5th Sem Goods and Services Tax (GST) Questions and Answers
Unit 1 Introduction to Goods and Services Tax (GST)
- Introduction to Goods and Services Tax Very Short Answer Questions
- Introduction to Goods and Services Tax Short Answer Questions
- Introduction to Goods and Services Tax Long Answer Questions
Unit 2 GST Acts: CGST Act, SGST Act, IGST Act
- GST Acts: CGST Act, SGST Act, IGST Act Very Short Answer Questions
- GST Acts: CGST Act, SGST Act, IGST Act Short Answer Questions
- GST Acts: CGST Act, SGST Act, IGST Act Long Answer Questions
Unit 3 Procedure and Levy Under GST
- Procedure and Levy Under GST Very Short Answer Questions
- Procedure and Levy Under GST Short Answer Questions
Unit 4 Assessment and Returns
Unit 5 GST and Technology
- GST and Technology Very Short Answer Questions
- GST and Technology Short Answer Questions
- GST and Technology Long Answer Questions
B.Com 5th Sem Goods and Services Tax (GST) Notes
- Unit 1 Introduction to Goods and Services Tax (GST) Notes
- Unit 2 GST Acts: CGST Act, SGST Act, IGST Act Notes
- Unit 3 Procedure and Levy Under GST Notes
- Unit 4 Assessment and Returns Notes
- Unit 5 GST and Technology Notes
B.Com 5th Sem Goods and Services Tax (GST) Syllabus
Unit 1: INTRODUCTION TO GOODS AND SERVICES TAX (GST) (08 Hrs)
Objectives and basic scheme of GST, Meaning – Salient features of GST – Subsuming of taxes – Benefits of implementing GST – Constitutional amendments
– Structure of GST (Dual Model) – Central GST – State / Union Territory GST
– Integrated GST – GST Council: Structure, Powers and Functions. Provisions for amendments.
Unit 2: GST ACTS: CGST Act, SGST Act (Karnataka State), IGST Act (08 Hrs)
Salient features of CGST Act, SGST Act (Karnataka State), IGST Act –
Meaning and Definition: Aggregate turnover, Adjudicating authority, Agent, Business, Capital goods, Casual taxable person, Composite supply, Mixed supply, Exempt supply, Outward supply, Principal supply, Place of supply, Supplier, Goods, Input service distributor, Job work, Manufacture, Input tax, Input tax credit, Person, Place of business, Reverse charge, Works contract, Casual taxable person, Non-resident person. Export of goods / services, Import of goods / services, Intermediary, Location of supplier of service, Location of recipient of service.
Unit 3: PROCEDURE AND LEVY UNDER GST (24 Hrs)
Registration under GST: Procedure for registration, Persons liable for registration, Persons not liable for registration, Compulsory registration, Deemed registration, Special provisions for Casual taxable persons and Non-resident taxable persons. Exempted goods and services – Rates of GST.
Procedure relating to Levy: (CGST & SGST): Scope of supply, Tax liability on Mixed and Composite supply, Time of supply of goods and services, Value of taxable supply. Computation of taxable value and tax liability.
Procedure relating to Levy: (IGST); Inter-state supply, intra-state supply, Zero rates supply, Value of taxable supply – Computation of taxable value and tax liability.
Input tax Credit: Eligibility, Apportionment, Inputs on capital goods, Distribution of credit by Input Service Distributor (ISD) – Transfer of Input tax credit – Simple Problems on utilization of input tax credit.
Unit 4: ASSESSMENT AND RETURNS (10 Hrs)
Furnishing details of outward supplies and inward supplies, First return, Claim of input tax credit, Matching reversal and reclaim of input tax credit, Annual return and Final return. Problems on Assessment of tax and tax liability.
Unit 5: GST AND TECHNOLOGY (06 Hrs)
GST Network: Structure, Vision and Mission, Powers and Functions. Goods and Service Tax Suvidha Providers (GSP): Concept, Framework and Guidelines and architecture to integrate with GST system. GSP Eco system. (Theory only).