The add on course on “Goods and Services Tax” provides basic and practical knowledge to the commerce students in various areas like Genesis of GST in India, Power to tax GST (Constitutional Provisions), Title, extent and commencement, Number of Legislations, what is GST?, Benefits of GST, Conceptual Framework, Rates of CGST/SGST and IGST, Taxes subsumed into GST, Amendment in 7th Schedule of Constitution, GST (Compensation to States) Cess, Administration under GST, Brief about GST Council, Classification system under GST, Levy & Collection of GST (Sec 9 of CGST Act),Composition Scheme under GST (Sec 10 of CGST Act),Power to grant Exemptions (Sec 11 of CGST ACT), Taxable Event – Supply, Meaning and Scope of Supply (Sec 7),Schedule – I, Schedule – II, Schedule – III, Composite and Mixed Supplies, Location of Supplier, Place of Supply, Time of Supply, Value of Taxable Supply, Input Tax Credit, Registration, Return under GST, Payment of Tax, Refund of Tax, Assessment, Audit, Transitional Provisions.
During the academic year 2017-18, 91 final year B.Com. students enrolled for this 30 hours add on course on GST. Experts such CA. Anvesh Rao, CA. Daphny and Mr. Sanjith, in the concerned field provided theoretical and practical training to the students on Monday, Tuesday and Wednesdays 3.30 p.m. to 5.30 pm.
At the end of this course the students understood various concepts of Goods & Service Tax, the impact of new regulations on distribution of Goods and Services, familiar with the technology and the flow of return filing under GST. This course enhanced the analytical and problem-solving skills of the students.
Report by:
Mr.Ignatius Nevil Noronha
