What is Goods and Service Tax?
Goods and Services Tax (GST) is a comprehensive indirect tax levied on goods and services which has subsumed all the previous indirect taxes. GST is anticipated to be one of the most radical tax reforms to have been implemented.
It is a destination based tax and levied at single point at the time of final consumption of goods or services by ultimate/end consumer.
How GST is going to affect the business?
GST, being an indirect tax, is going to impact businesses at the transaction level. GST would be levied upon Sales, Purchases, Provision of Services, Leases, Capital Expenditure, etc. Therefore, proper knowledge of GST has become a pre-requisite for smooth transactions in all businesses.
Learning from Acts, Rules and Notifications can become a time taking task for people managing jobs and their own business, at the same time.
A comprehensive GST Training could be a more effective way of gaining knowledge on GST without going through the hassles of reading enormous amount of technical literature.
Manchanda & Manchanda, with over 30 years of experience in servicing their clients, has now launched a 2-day workshop on GST to provide insight on the applicability of the tax and its implications.
GST training would help you obtain working knowledge of GST by going through relevant provisions supported by practical illustrations. The trainings are designed to help you:
• Assess the taxability of your product/service
• Obtain registration
• Determine time, value and place of supply
• Raising invoices/debit notes/credit notes
• Avail input tax credit
• File applicable returns
• Maintain required records
• Export/Import Goods and Services
• File and Claim refunds
Background and Concept of Supply
• Legal Background and Concept
• Scope of Supply
• Composite and Mixed Supply
• Composition Levy
|Time, Value and Place of Supply
• Time of Supply
• Value of Supply
• Place of Supply
• Way Bills and Logistics
|Input Tax Credit
• Input Tax Credit
• Input Service Distributor
• Reverse Charge
• Tax Invoice, Credit & Debit Notes
• Accounts and Records
|Transition and Job Work
• Transition Provisions
• Job Work
• Exempted Services, Classification of Goods and Services
• Case studies