MDP on GST & TAXATION

Adani University - Centre for Continuing Education (AU-CCE)

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GST- Still a curiosity?

GST – Goods and Services Tax, which came into effect since 1st July 2017, aims to replace all indirect taxes levied on goods and services by the Indian Central and State Government, and is proposed to be a comprehensive indirect tax levy on manufacture, sale, and consumption of goods as well as services at the national level.

Its main objective is to consolidate all indirect tax levied into a single tax, except customs (excluding SAD) replacing multiple tax levies, overcoming the limitations of existing indirect tax structure, and creating efficiencies in tax administration.
By amalgamating many Central and State taxes into a single tax, it would mitigate cascading or double taxation in a major way and pave the way for a common national market.
From the consumer point of view, the biggest advantage would be in terms of a reduction in the overall tax burden on goods, which is currently estimated at 16%-18%.
It makes products competitive in the domestic and international markets.
GST being transparent in nature, it becomes easier to administer.

After 5 years of GST implementation, yet it is constantly being amended with many new required updates which individuals, companies and professionals need to know about.

About this Program

In this Program, experts shall guide you in how GST implications on business can be handled strategically and what are the major issues to be pondered upon while framing financial policies of the business.

GST is an Indirect Tax which has replaced many Indirect Taxes in India. This Program deals with complete GST cycle from registration to claim and explains in detail about the concept of reverse charge.

Key Learning Outcomes:

This program covers all the practical aspects of GST including registration, GST returns, GST E-filling, and in-depth accounting & recording of GST transactions.

Enable the learners with a comprehensive understanding of the key areas of impact in businesses by GST

Learn new things or update your knowledge with hands-on experience on GST portal

Enhance your knowledge about GST law

Growth in your career with complete understanding of the GST Law covering its implementation, compliance, and enforcement

Gain GST accounting knowledge, technical expertise, interpersonal skills, and professional insights

Resolve your doubts on GST during and after the training

Modules:

This program covers all the practical aspects of GST including registration, GST returns, GST E-filling, and in-depth accounting & recording of GST transactions.

Basics of GST

Introduction to GST -Erstwhile regime vs GST regime
Concept of Supply [Section 7 and Schedules to CGST Act, 2017]
Inter-state Supply and Intra State Supply, Place of Supply, When to charge IGST, CGST and SGST/UTGST
Input Tax Credit (ITC) – Conditions for availing ITC , Ineligible/Blocked Credits, Credit reversal, Time of Supply
Reverse Charge Mechanism
Composite and Mixed Supply

Practical issues-Preventive Measures under GST

Know Your Supplier – Matching of Supplier’s GSTR-1 and Recipient’s GSTR-2B
Knowing your Supplier’s compliance with return filing through GST and E-invoice portal
Burning Issues in GST – Scrutiny of Returns, Audit, Special Audit, Detention and Seizure, Discounts, Penalties and Prosecution
How to handle department queries
Participant’s queries and their Assessment

Compliance under GST

Valuation of Goods and Services – Inclusions and Exclusions from value of goods and services, Valuation for special transaction, Valuation in case of Distinct or Related person
E-waybill and E-invoice- When are you required to prepare E-waybill?, When are you required to prepare E-invoice?, Walk through E-waybill portal, Preparation of E-invoice
Latest judgments and case study
Zero-rated Supply under GST and its refund
Other refunds under GST – Refund for tax on inverted duty structure, Refund for excess tax paid
Documents under GST- Tax invoice, Bill of Supply, Delivery Challan, etc.
Returns and Statements under GST- Outward supplies [GSTR-1/IFF], Auto-drafted ITC Statement [GSTR-2B], GSTR-3B, Annual return and Reconciliation [GSTR-9 and GSTR-9C]
Attachment, Inspection, Search, Confiscation
Provisional Attachment, Inspection, Search, and Confiscation
Some Notable Recent Amendments – Amendments in GST Act, Amendments in GST Rules, Issuance of Notification, Circulars, Orders, instructions, etc.
How can businesses prepare for the system

Who this course is for:

Tax practitioners and accountants

Professionals in Commercial & Procurement

Entrepreneurs, Businessman

GST Practitioner, Executives and Professionals

Freelancers

Students with basic knowledge of Tax

Other Professionals (CS, CA, MBA , M.Com , Lawyers) for advance accounting knowledge to upgrade themselves with trends/strategies.

Facilitators

Dr. Nilesh V. Suchak is a practicing Chartered Accountant since 1986 and main areas of his practice include GST, excise, customs, and service tax laws. He is associated with R. J. Tibrewal Commerce College as Associate Professor. He is awarded Ph. D. by Gujarat University for his Thesis titled “Corporate Financial Reporting in India and Transparency – A Futuristic Approach” in 2002. He also founded the CA firm N. V. Suchak & Co. Chartered Accountants.

He has undertaken many Indirect Tax related reviews, due diligence assignments for venture capital fund, investigations and has assisted many clients on their issues, compliances, reviews, and litigations related to Indirect Taxes.

He has delivered lectures at Ahmedabad, Mumbai, Kolkata, Delhi, Chennai, Bangalore, Hyderabad, and many other cities. He has delivered lectures at Training programs organized by ICAI, ICSI, Service Tax Department, GST Department, Adani University, Knowledge Consortium of Gujarat, Gujarat Chamber of Commerce, Ahmedabad Management Association, and many other institutions.

He is the Founder Partner of Punit Prajapati & Co. Chartered Accountants which has four CAs at present. He is practicing in the field of Indirect Taxes since 2005. He has gained wide experience in advisory, consultation, planning, representation, and litigation in Indirect Taxes. He has also co-authored books in GST.

He is also regular speaker on Indirect Taxes at various forums including Chartered Accountants, Corporates, Trade & Industries and Government Officers. He has held various positions in Indirect Tax related committees of various organizations including Gujarat Chamber of Commerce, Chartered Accountants Association –Ahmedabad, Ahmedabad Branch of WIRC of ICAI.

He has also appeared on News Channels for discussion on GST and other topics. He has also written articles which are published in reputed journals and his article also won Best Article Award by Ahmedabad Chartered Accountants Journal. He has also won Trophy for Best Led Study Circle Meeting from Chartered Accountants Association.

He is a Chartered Accountant with domain expertise mainly in Indirect Taxes with focus on Goods and Services Tax (GST) under the name of Nandesh Barai & Co., Chartered Accountants since 2022.

He has recently completed CFA Level-1. He is passionate reader of GST related issues and is good at understanding the crux of the provisions of law.

He has gained experience in advisory, consultation, planning, representation, and litigation in Indirect Taxes.

When & Where?

Date – Friday and Saturday | September 22 and 23, 2023

Timings – 10.00 a.m. to 6.30 p.m.

Mode – On-Campus

Venue – Adani University Campus, Shantigram

Last Date to Register: Monday, September 18, 2023

For more details, please contact:

Centre for Continuing Education

Adani University

Adani Institute of Infrastructure Building, Near Vaishnodevi Circle,

Ahmedabad 382 421 Gujarat, India

Mobile: 9824006083 / 7859968342

Landline: 2555-4911/ 2555-4910

Email: cce@adaniuni.ac.in