Goods & Services Tax (GST) and Customs Law : As per Choice Based Credit System (CBCS)
Goods and Services Tax (GST) is a subject which impacts all of us in our day-to-day life. From morning to evening, whether we buy bread, travel in a bus or metro or buy an ice cream, pay coaching fee, eat in a restaurant, watch a movie… GST’s impact is felt everywhere. Understanding GST and the manner in which it works is an advantage and really important today. Academically, it is an indirect tax and we should understand the tax system to pass an exam but, practically speaking, it is an integral component of our life, particularly economic life, and knowing it would add value to things we do on a day-to-day basis.
Having a paper on GST in B.Com. is thus an advantage. The syllabus is comprehensive including a unit on Customs Law as well. There are 5 units in all, covering various topics in a logical sequence. The book covers the entire syllabus. It contains unit-wise chapters; each chapter discusses one topic from the respective unit in the syllabus. The language of the book has been kept simple and the discussion is backed by a number of examples. Summary of each chapter in the form of diagrams has been
given at chapter-end which can be helpful for a glance reading of the contents of the complete chapter. Exercises given at the end of the chapters include questions from the past examinations of
B.Com.(Pass) and B.Com.(Hons.) courses, which would help understand the pattern of the
As the subject is law-based and there have been frequent amendments to related laws, this book
incorporates such changes effected till 30-06-2019. Besides, the reader has also been apprised of any major change in any law expected in the near future through an ‘update note’.
While reading this book, please note that some of the words and phrases used for the sake of brevity are to be understood in the following manner:
* Wherever the phrase ‘the CGST Act’ or ‘the Act’ is used in this book, it refers to ‘the CGST Act, 2017’;
* Wherever only sections are mentioned in the book without the name of the corresponding Act, that section is from the CGST Act, 2017;
* Wherever only Rule numbers are mentioned in the GST part of the book (other than the Customs part of the book), such Rules are from the CGST Rules, 2017;
* Wherever the phrase ‘the SGST Act’ is used in the book, it refers to ‘the SGST Act, 2017’. Also
note that SGST is a collective noun. Practically, the SGST Acts would be in the name of the respective states. For example, Rajasthan GST Act or Maharashtra GST Act, etc.
* In the ‘Customs’ part of the book (i.e., Unit 5), the sections mentioned without corresponding reference to the law are from the Customs Act, 1962.
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