Company Secretary, CS Professional

How to Prepare GST for a CS Professional?

How to prepare for a CS Professional

As we all know that the subject of Taxation itself is very complicated by its own nature and a lot of provisions involved.

The complications further enhance due to its continuous refinement, amendments and changes which are very often brought by the various regulations especially in GST since its inception in 2017.

These regulations are released by the Government, sometimes to boost the economy, increase the revenue, lowering the taxation burden at the consumer end etc. But all these complications still don’t make this subject unimportant or inevitable from a learning perspective.

Considering all the importance which this subject/ topic holds for any professional student, this subject becomes one of the most important subjects of CS Professional examination. It is the second subject of the Module 1 of CS Professional.

As we know that CS Professional is the final stage of the professional course of Company Secretary. The professional stage is basically designed to inculcate skills and competence of professional program passed students.

The reason for inclusion of this important subject in the curriculum is to impart conceptual understanding to the students regarding provisions of Goods and Services Tax at advanced level under Indirect Taxes.

An outline of Company Secretary Courses and Specialisation- Professional Programme Papers

Paper and subjects Marks distribution
Module – 1
Paper – 1: Governance, Risk Management, Compliances and EthicsPart I: Governance (50 Marks)
Part II: Risk Management (20 Marks)
Part III: Compliance (20 Marks)
Part IV: Ethics & Sustainability (10 Marks)
Paper – 2: Advanced Tax LawsPart I: Goods and Service Tax ‘GST’ (60 Marks)
Part II: Customs Law (10 Marks)
Part III: Direct Tax & International Taxation (30 Marks)
Paper – 3: Drafting, Pleadings and AppearancesDrafting, Pleadings and Appearances (Max Marks 100)
Module – 2
Paper – 4: Secretarial Audit, Compliance Management and Due DiligencePart I: Compliance Management (40 Marks)
Part II: Secretarial Audit &Due Diligence (60 Marks)
Paper – 5: Corporate Restructuring, Insolvency, Liquidation & Winding-upPart I: Corporate Restructuring (50 Marks)
Part II: Insolvency& Liquidation (50 Marks)
Paper – 6: Resolution of Corporate Disputes, Non-Compliances & RemediesResolution of Corporate Disputes, Non-Compliances& Remedies (Max Marks 100)
Module – 3
Paper – 7: Corporate Funding & Listings in Stock ExchangesPart-A: Corporate Funding (60 Marks)Part B: Listing (40 Marks)
Paper – 8: Multidisciplinary Case Studies (open book exam)Multidisciplinary Case Studies (Max Marks 100)
Paper – 9: Eight Elective Papers (open book exam)
9.1- Banking – Law & PracticeBanking – Law & Practice (Max Marks 100)
9.2- Insurance– Law & PracticeInsurance – Law & Practice (Max Marks 100)
9.3- Intellectual Property Rights– Laws and PracticesIntellectual Property Rights: Laws and Practices (Max Marks 100)
9.4- Forensic AuditForensic Audit (Max Marks 100)
9.5- Direct Tax Law & PracticeDirect Tax Laws & Practice (Max Marks 100)
9.6- Labour Laws & PracticeLabour Laws and Practice (Max Marks 100)
9.7- Valuations & Business ModellingPart I: Valuations (70 Marks)
Part- II: Business Modelling (30 Marks)
9.8- Insolvency – Law and PracticeInsolvency – Law and Practice(Max Marks 100)

An Overview of the subject

The subject is divided into three parts i.e. 

Part I: Goods and Service Tax ‘GST’
Part II: Customs Law
Part III: Direct Tax & International Taxation

CS Professional Examination Syllabus of this subject

Before planning the study curriculum, first of all we should know the contents of the subject. Following is the arrangement Of Study Lessons in this subject

Module-IPaper- 2Advanced Tax Laws
Indirect Taxes Part I : GST and Customs Laws
1 An Overview on Goods and Services Tax “GST”
2. Supply
3. Input Tax Credit & Computation of GST Liability
4. Procedural Compliance under GST
5. Assessment, Audit, Scrutiny, Demand and Recovery, Advance Ruling, Appeals and Revision
6. Inspection, search, seizure, offenses & penalties
7. GST practitioners, authorized representative, professional opportunities
8. Integrated Goods and Services Tax (IGST)
9. Union Territory Goods and Services Tax (UTGST)
10. GST Compensation to States
11. Industry/Sector Specific Analysis

Strategy for Preparation

In the present time, taxation is not just a means of transferring money to the government to spend it for meeting the public expenditures or raise revenue to the government, but taxes have become beside that, as a tool for redistribution of income and wealth in the society.

How to Prepare GST for a CS Professional?

It also serves as a means of economic development and plays a significant role in stabilization of income. Taxation assist in finding solutions to the economic problems which are faced by a country, like unemployment, inflation, and depression. Countries practice sovereignty authority upon its citizens, through levying of Taxes.

The reason for inclusion of this important subject in the curriculum is to impart conceptual understanding to the students regarding provisions of one of the most important reform of the country i.e. Goods and Services Tax

  • To provide working knowledge on practical application of Direct Tax Laws and 
  • To provide conceptual knowledge of GST with practical application of GST Laws

Strategy for Preparation

  • Understanding the requirements of the subject-First of all the students should understand the requirement of the paper and subject thoroughly.
  • Dynamic subject-At the same time the student needs to remember that it is not a static subject like accounts or costing rather it involves a lot of dynamic elements because the provision keeps on changing from time to time. Every time Finance Act is released by the Government in the month of Feb which brings a lot of changes in the existing provisions.
  • Refer recent case laws-While preparing the examination, the student is required to refer relevant and important recent examples from current affairs happening in and around business.
  • Solving Practice-A lot of practice is required for attempting and clearing this paper as this paper. It is recommended that a student should practice as many problems as its possible.
  • Regular Updation- Update yourself about all the relevant circulars, clarifications, notifications, etc. issued by the CBDT, CBEC & Central Government, on or before six months prior to the date of the respective examinations.
  • Fundamental topics of subject-Last but not the least, the students need to be aware of the fundamentals and key provisions, amendments to the Acts, Powers, features, and functions of the provisions of the acts, especially before the examination.
How to Prepare GST for a CS Professional?

Now we will make a framework for studying and preparing this subject, chapter wise.

Important topics to be covered
Chapter 1An Overview on Goods and Services Tax “GST”Introduction 
International Perspective of GST/VAT 
Application of Generally Accepted Principles of Tax Policy to VAT 
International Scenario of GST/VAT 
Need for GST in India 
GST Journey 
Provisions under the Indian Constitution 
Goods & Services Tax Council 
Introduction of GST in India 
Taxes Pre-GST Regime
Legislative Framework of GST 
Advantages of GST 
Exemption from GST
Chapter 2SupplySignificance of Supply 
Meaning and Scope of Supply
Meaning and Taxability of Composite and Mixed Supply [Section 8] 
Levy and Collection of Tax 
Levy and Collection [Section 9 of CGST Act, 2017] 
Composition Levy [Section 10 of CGST Act, 2017] 
Eligibility to Opt Under Composition Scheme
Restriction on Collection of Tax [Section 10 (4)
Procedural Aspects of Composition Scheme
List of Forms 
Special Composition Scheme-Section 10(2a) [W.E.F 1.4.2019] 
Exempt Supply 
Power to Grant Exemption [Section 11]
Services Exempt From Tax [Notification No. 12/2017- Central Tax (Rate)] 
Time of Supply 
Time of Supply of Goods [Section 12] 
Time of Supply of Service [Section 13 of CGST Act, 2017] 
Value of Supply 
Rules for Determination of Value of Supply
Applicability of Valuation Rules 
Value of Supply of Services in relation to Air Travel Agent [Rule 32(3) of CGST Rules, 2017] 
Value of Supply of Services in relation to Life Insurance Business [Rule 32(4) of CGST Rules, 2017] 
Value of Second Hand Goods [Rule 32(5) of CGST Rules, 2017] 
The Value of Taxable Services between Distinct Persons [Rule 32(7) of CGST Rules, 2017]
Value of Supply in Cases Where Kerala Flood Cess is Applicable (Rule 32a of the CGST Rules)
Value of Supply of Services In Case of Pure Agent [Rule 33 of CGST Rules, 2017] 
Value Inclusive of All Taxes [Rule 35 of CGST Rules, 2017] 
Imports and Export of Goods and Services under GST 
Imports under GST 
Exports under GST 
Zero Rated Supply 
Procedure for Export of Goods under Bond or Letter of Undertaking 
Refund Of Input Tax Credit In Relation To Zero Rated Goods Or Services. [Rule 89(4)]
Deemed Exports 
Classification of Goods and Services under GST
Rule of Interpretation as Applicable in Customs [Equally Applicable for GST] 
Miscellaneous Provisions 
Job Work [Section 2(68)] 
Principal [Section 2(88)] 
Job Work Procedure [Section 143]
Pure Agent Concept in GST 
E-Commerce 
Tax Collected at Source (TCS) 
Constitution of the Standing Committee and Screening Committees [Rule 123] 
Duties of Various Authorities
Chapter 3 Input Tax Credit & Computation of GST LiabilityInput Tax Credit 
Definitions 
Eligibility and Conditions for Taking Input Tax Credit [Section 16] 
Transitional Provisions in ITC 
Ineligible Credits [Section 17] 
Procedure for Claiming Credit in Special Circumstances [Rule 40 of the CGST Rules]
Treatment of Input Tax Credit in the Event of Transfer of Business, etc. [Section 18(3) and Rule 41] 
Transfer of Credit on Sale, Merger, Amalgamation, Lease or Transfer of a Business [Rule 41] 
Reversal of Credit under Special Circumstances [Section 18(4) and Rule 44] 
Input Service Distributor [Section 20 and Rule 39] 
Matching, Reversal and Reclaim of Input Tax Credit [Section 42] 
Payment of Tax, Interest, Penalty and Other Amounts [Section 49] 
Utilization of Input Tax Credit Subject to Certain Conditions [Section 49A] 
Order of Utilization of Input Tax Credit [Section 49B]
Chapter 4Procedural Compliance under GSTRegistration 
Persons Liable for Registration 
Persons not liable for registration 
Compulsory registration in certain cases 
Procedure for registration – Statutory Registration 
Practical Aspects of Registration 
Cancellation or Suspension of Registration
Revocation of cancellation of registration 
Other Provisions Relating to Registration 
Tax Invoice, Debit & Credit Note 
Electronic Invoicing (E-Invoicing) 
Bill of Supply 
Revised Tax Invoice and Credit & Debit Notes
Accounts and Records 
Electronic Way Bill 
Procedure for the Generation of E-Way Bill 
Documents and Devices to be carried by a Persons-In-Charge of a Conveyance 
Verification of Documents and Conveyance 
Inspection and Verification of Goods 
Facility for uploading information regarding detention of vehicle 
Restriction on furnishing of information in Part A of Form GST EWB-01 
Clarification on e-way Bill 
Payment of Tax 
Electronic Cash Ledger [Section 49] 
Electronic Liability Ledger [Section 49(7)] 
Electronic Credit Ledger 
Miscellaneous Provisions 
Interest on Delayed Payment of Tax 
Tax Deduction at Source (TDS) 
Collection of Tax at Source (TCS) 
Forms relating to Payment of Tax 
GST Return Mechanism 
Furnishing Details of Outward Supplies
Furnishing Details of Inward Supplies
Furnishing of Monthly Return 
Manner of Opting for Furnishing Quarterly Return [Rule 61A] 
Notifications Issued to Operationalise Quarterly Return Monthly Payment Scheme (QRMP) 
Returns by Persons Opting for Composition Scheme
Returns by Non-resident taxable person 
Returns by persons providing online information and database access or retrieval services 
Return by an Input Service Distributor
Return by a person required to Deduct Tax at Source 
Return by a person making supplies through an e-commerce operator
First Return 
Nil Return through SMS
Matching, Reversal and Reclaim of Input Tax Credit
Annual Return 
Final Return 
Notice to Return Defaulters 
Levy of the Fee 
Forms relating to Returns 
Refund 
Consumer Welfare Fund 
Forms Relating to Refund 
Forms Relating to Assessment 
What is OIDAR? 
GST Compliance Rating 
GST on Director’s Remuneration 
Companies under IBC and GST Compliance
Chapter 5 ASSESSMENT, AUDIT, SCRUTINY, DEMAND AND RECOVERY, ADVANCE RULING, APPEALS ANDREVISIAssessment 
Audit by Registered Dealer 
Audit by Tax Authorities
Special Audit
Demand and Recovery CGST Act 
Time Limit for Issue of Notice, Penalty and Adjudication under Section 73 
Section 75: General Provisions Relating to Determination of Tax 
Section 79: Recovery of Tax 
Section 80: Payment of Tax and Other Amount in Installments 
Section 81: Cases where the Transfer of Property is Void 
Section 82: Tax to be First Charge on Property 
Rule 147: Recovery by Sale of Moveable or Immoveable Property 
Section 83: Provisional attachment to protect revenue in certain cases 
Section 84: Continuation and validation of certain recovery proceedings
Rule 148: Prohibition against bidding or purchase by officer 
Rule 149: Prohibition against sale on holidays
Rule 150: Assistance by police
Advance Ruling – Objectives 
Procedure on receipt of application [Section 98] 
Procedure on receipt of application [Section 98] 
Appeal against the order of the Advance Ruling Authority [Section 99, 100 & 101] 
Appellate Authority for Advance Ruling 
Appeal to Appellate Authority 
National Appellate Authority for Advance Ruling [Section 101A, 101B and 101C] 
Appeal to National Appellate Authority 
Rectification of Advance Ruling [Section 102] 
Applicability of Advance Ruling [Section 103] 
Advance ruling to be void in Certain Circumstances [Section 104] 
Procedure for availing Advance Ruling
Appeals & Revisions 
Appeal Hierarchy 
Statutory Provisions 
Appeals to Appellate Authority 
Powers of Revisional Authority 
President and Members of Appellate Tribunal
Procedure before Appellate Tribunal
Appeals to Appellate Tribunal 
Orders of Appellate Tribunal 
Financial and Administrative Powers of President 
Interest on Refund of Amount Paid for Admission of Appeal 
Appearance by Authorized Representative 
Appeal to High Court 
Appeal to Supreme Court 
Sums due to be Paid notwithstanding Appeal 
Appeal Not to be Filed in Certain Cases 
Non-Appealable Decisions and Orders 
Pre-Deposit for Filing Appeals
Chapter 6 INSPECTION, SEARCH, SEIZURE, OFFENCES & PENALTIESInspection, Search, Seizure & Arrest
Power of Inspection, Search and Seizure (Section 67) 
Inspection of goods in movement (Section 68) 
Arrest Provision under GST (Section 69) 
Power to summon persons to give evidence and produce documents (Section 70) 
Access to business premises (Section 71) 
Officers to assist proper officers (Section 72) 
Relevant Forms to be used at a Glance 
Search and Seizure 
Powers of Authorized Officer 
Places where search can be conducted 
Reason to believe 
Particulars of search authorization (warrant) 
Period for retention of documents or books 
Procedure for releasing the seized goods 
Seizure of perishable and hazardous nature goods 
Search without valid warrant is illegal 
Validity of documents seized during illegal search 
Applicability of the Code of Criminal Procedure to Search & Seizure 
Guiding Principles for conduct of search 
Inspection of goods in movement 
Distinction in law between ‘Seizure’ and ‘Detention’
Time limit for detention of conveyance carrying goods 
Documents to be carried by the person in-charge of conveyance 
Access to Business Premises 
Assistance from Officers of other Departments 
Summons 
Obligations of a person who has been issued and served with a summon 
Nature of summon proceedings 
Offenses and Penalties 
Meaning of Offenses and Penalty 
Specified Offenses Liable to Penalty 
Other offenses for which penalties have been prescribed 
General Principles related to Penalty 
Voluntary disclosure to tax authorities
Chapter 7 GST PRACTITIONERS, AUTHORISED REPRESENTATIVE, PROFESSIONAL OPPORTUNITIESWho May be a GST Practitioner? 
Concept of GST Practitioner (GSTP) 
Relevant Rules of CGST Rules, 2017 
Rule 83. Provisions relating to a goods and services tax practitioner 
Examination of GST Practitioners 
Prescribed forms for GST practitioner
Eligibility Criteria for becoming GST Practitioner 
Goods & Services Tax Practitioner – Responsibilities 
Functions of a Goods & Services Tax Practitioner [Rule 83(8)] 
Appearance by the Authorized Representative 
Relevant rule of CGST Rules, 2017 
Who can be an authorized representative? 
Distinction between Authorized Representative and GST Practitioner 
Professional Opportunities under GST 
Specific Recognition to Professionals in GST Laws 
Role of Professionals 
Enhanced Role of Company Secretaries
Chapter 8 INTEGRATED GOODS AND SERVICES TAX (IGST)Need for IGST 
The IGST model 
Constitutional Mandate 
Determination of Nature of Supply 
Inter-State Supplies under GST 
Intra-State Supplies under GST 
Supplies in territorial waters 
Place of Supply of Goods or Services or Both 
Refund of Integrated Tax to International Tourist 
Zero Rated Supply 
Difference between Exempt Supply and Zero-rated Supply
Chapter 9 UNION TERRITORY GOODS AND SERVICES TAX (UTGST)Determination of Nature of Supply 
Levy of UTGST 
Utilization of Input Tax Credit 
Current Status of Union Territories 
Illustrations on Levy of Tax 
Supply within the Union Territory 
Supply outside the Union Territory
Chapter 10 GST COMPENSATION TO STATESStructure of the Goods and Services Tax (Compensation to States) Act, 2017 506
Levy and Collection of CESS [Section 8] 507
Analysis of Section 8: GST Compensation Cess 507
Returns, Payments and Refunds- Relating to Cess (Section 9) 512
Compensation Cess on Goods Exported 513
Provisions Regarding Compensation Payable to States [Section 7]
Chapter 11INDUSTRY / SECTOR SPECIFIC ANALYSISThe Institute Of Chartered Accountants of India 
Health Care Services 
Hotels and Restaurants 
GST on Accommodations in Hotels 
GST on Rent-a-cab services provided by hotels 
GST on foreign currency exchange services
Input Tax Credit (ITC) 
Education and Commercial Coaching / Training 

Study Plan

1. Ensure complete understanding of the CS Study Material

2. Start with a proper Time Table

3. Setting targets

4. Analysing the actual performance every week

5. Never Do following-

  • Never go with selective topics
  • Never refer old study material
  • Try to finish your revision beforehand

Some reference books

1. V.S. Datey GST Ready Reckoner, Taxmann

2. Taxmann’s GST Manual with GST Law Guide & GST Practice Referencer

3. Taxmann’s GST Acts with Rules & Forms

4. Vineet Gupta & N.K. Gupta GST – Law, Practice & Procedures – Bharat Publications

5. Notifications & Circulars cbic.gov.in

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