Accounts and taxation course in chennai|Accounts training in chennai
Taxes subsumed in GST
Live classes for GST

Employee Skill Development

The current tax system gives businesses a tough time as it involves multiple taxes, complex compliance procedures, and intervention by several state and central tax divisions. This makes it highly difficult to setup a business in India which already stands at 133rd position when comes to doing business.

The talks of ushering in GST, however, gained momentum in the year 2014 when the NDA Government tabled the Constitution (122nd Amendment) Bill, 2014 on GST in the Parliament on 19th December,2014. The Lok Sabha assed the Billon 6th May, 2015 and Rajya Sabha on 3rdAugust,2016. Subsequentto ratificationof the Bill by more than 50% of the States, Constitution (122nd Amendment) Bill, 2014 received the assent of the President on 8th September, 2016 and became Constitution (101st Amendment) Act, 2016, which paved the way for introduction

A comprehensive tax structure covering both goods and services viz. Goods and Service Tax (GST) addresses these problems. Simultaneous introduction of GST at both Centre and State levels has integrated taxes on goods and services for the purpose of set-off relief and ensures that both the cascading effects of CENVAT and service tax are removed and a continuous chain of set-off from the original producer’s point/ service provider’s point upto the retailer’s level/consumer’s level is established.

How can GST change this? Instead of applying taxes on the total value of the product at each stage, the GST only imposes tax on value addition. Because it provides credit for the input tax paid at each previous stage of a supply chain, this method considerably reduces the overall manufacturing cost. We offer some of the best GST Training in Chennai.

Let’s take a closer look at how this works with a simple example Imagine a manufacturer selling steel buckets, each for Rs.1000 plus a gst of 10% (which is Rs.100) to a wholesaler located in the same state So, the wholesaler at state 1 buys them for Rs.1100 per piece and increases the total selling price to Rs.2,000 per bucket before selling a few of them to a retailer located in a different state at rs.2200 which is Rs.2000 Plus GST In the above example, you can see that at every stage of the process, the application of tax is uniform to the extent of increase in profit .

Central excise VAT/Sales Tax/Purchase Tax Basic Customs Duty
CVD Entertainment Road Tax
SAD Luxury Toll Tax
Service Tax Tax on Lottery/betting/gambling Property Tax
CST Octroi and Entry tax Stamp Duty
Surcharge and Cess State Surcharge and Cess Electricity Duty
  • 1. General Introduction

  • 2. Levy and Collection of tax

    • Scope of supply
    • Tax liability on composite and mixed supply
    • Levy and collection
    • Composition levy
    • Power to grant exemption from tax.
  • 3. Time and value of supply

    • Time of supply of goods
    • Time of supply of services
    • Change in rate in respect of supply of goods and services
    • Value of taxable supply
  • 4. Input tax credit

    • Eligibility and conditions for taking input tax credit.
    • Apportionment of credit and blocked credits.
    • Availability of credit in special circumstances.
    • Taking input tax credit in respect of inputs and capital goods sent for job work.
    • Manner of distribution of credit by input tax distributor.
    • Manner of recovery of credit distributed in excess.
  • 5. Registration

    • Persons liable / not liable for registration
    • Compulsory registration in certain cases
    • Procedure for registration
    • Deemed registration
    • Special provisions relating to casual taxable person and non – resident taxable person
    • Amendment of registration
    • Cancellation of registration
    • Revocation of cancellation of registration
  • 6. Returns

    • Furnishing details of inward and outward supplies
    • Furnishing of returns
    • Claim of input tax credit and provisional acceptance thereof
    • Matching , reversal and reclaim of input tax credit
    • Annual return
    • Final return
    • Notice to defaulters
  • 7. Payment of tax

    • Payment of tax , interest , penalty and other amounts
    • Interest on delayed payment of tax
    • Tax deduction at source
    • Collection of tax deducted at source
    • Transfer of input tax credit
  • 8. Refunds

    • Refund of tax
    • Refund in certain cases
    • Interest on delayed refunds
    • Consumer welfare fund
    • Utilization of fund
  • 9. Assessment

    • Self – assessment
    • Provisional assessment
    • Scrutiny of returns
    • Assessment of non-file of returns
    • Assessment of unregistered persons
    • Summary assessment in certain special cases
  • 10. Audit

    • Audit by tax authorities
    • Special audit

Live classes for GST

  • GST registration Live demo
  • GST Returns Filing in GSTR 3B
  • GST Returns filing in GSTR 1
  • GSTR 2 A comparison
  • Addressing latest issues in GST portal
  • GST Accounting
  • Reverse charge details

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