- Instructor: Vinay C S
- Duration: 3 weeks
Course Overview:
Pre-GST Era:
- Understand the accounting practices and principles prevalent before the introduction of Goods and Services Tax (GST) in India.
- Explore the taxation landscape and regulatory framework prior to the GST regime.
GST – Comprehensive Outline:
- Gain a comprehensive understanding of the Goods and Services Tax (GST) system in India.
- Explore the key concepts, principles, and provisions of GST legislation.
Concept of Supply:
- Learn about the concept of supply under GST, including different types of supplies and their tax implications.
- Understand the criteria for determining the taxable event under GST.
Input Tax Credit (ITC):
- Explore the concept of Input Tax Credit (ITC) and its significance in the GST regime.
- Learn how to avail and utilize ITC for offsetting tax liabilities.
Registration:
- Understand the GST registration process, including eligibility criteria, documentation requirements, and procedural formalities.
- Learn how to apply for GST registration and obtain a GST identification number (GSTIN).
Filing of GSTR-1:
- Gain hands-on experience in filing GSTR-1, the return for outward supplies under GST.
- Learn how to report and reconcile outward supplies, including sales invoices and credit notes.
Filing of GSTR-3B:
- Learn the process of filing GSTR-3B, the monthly summary return under GST.
- Understand the requirements and deadlines for filing GSTR-3B, including the computation of tax liabilities and input tax credits.
Course Format:
- Interactive lectures and presentations
- Practical demonstrations and case studies
- Hands-on exercises and workshops
- Q&A sessions and discussions
Outcome: Upon completion of the course, participants will have a comprehensive understanding of GST fundamentals and pre-GST accounting practices. They will be equipped with the knowledge and skills required to navigate the GST regime effectively, including registration, compliance, and filing of GST returns.
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