V'Smart Academy Oya ae INDIRECT TAXES STRATEGU % wai CA vee Bhattad os ye | iGoods and Services Tax PR ee UCL CLC Le 1) 246A, 269A, 279A, 2) Applicability of GST on Tobacco, Opium, Al, Petroleum Product 3) Format of Utilisation of ITC ICAI Practice Question OR Subjective Que - 15, 19 MCQ - 11,12,14,43,45. re em a ats 1) Definition of Union Territory [Refer Amendment Notes] 2) Chart of Supply [From Chart] Sec 7 | Meaning and Scope of Supply 3) Sec 25-DDP 4) Definition - Recipient, Exempt Supply, ‘Composite & Mixed Supply 4) Clarifications:- 121/40/19-Liquorlicences 2 116/35/19- Display ofname 57/31/18 -Principal &Agent 2 73/47/18-DCA 2 Other Clarifications Sections to Be Remember Sec 8 | Composite and mixed Supply Sec9 | Levy & Collection of CGST ICAI Practice Question OR Subjective Que - 41,61,62,65,75 MCQ - 33,40,54,56,57,58,case study, Practice que by ICAI-3,4, 10,11,12,15, 17 Chapter 4 - REVERSE CHARGE & ECO 1)GTA- Chart 2) Legal Services (With Exemption) Sections to Be Remember 3) Copyright Sec 9(3) di tified 4) Security Services ec 9(3) | Reverse charge under ae ified cases 5) Renting of Motor Vehicle Sec 9(4) | Reverse charge in case of supply by unger unregistered to registered 6) Clarification:- Sec 9(5) | Electronic Commerce Operator 140/10/20 - Directors Remuneratio P (Refer Amendment notes) ICAI Practice Question OR Subjective Que - 19,20,21,24,28,30, 31,32 MCQ = 12,43,44.46Chapter 5 - COMPOSITION SCHEME 1) Definition - Aggregate Turnover / Turnover in State / Exempt Supply 2) Chart & Problem Solving Sec 10 (1)| Eligibility for Composition Levy 3) Interest Summary 4) 10(2) Conditions are applicable only for current year(Applicable only for C.Y.) Sec 10(2A)| Eligibility for Composition Levy for Sections to Be Remember Sec 10(2)| Other Conditions for Eligibility ICAI Practice Question OR Subjective Que - 27,28,34, 37,42 MCQ - 43,52 ae a 1) Chart Revision Sections to Be Remember 2)TOS-RCM Sec 12_| Time of Supply of Goods Sec 13 | Time of Supply of Srvices 3) TOS - Associated Enterprises 4) TOS -CSG/CSS/ Approval or Return Basis See 14_| Change in effective rate of ‘Tax ICAT Practice Question OR Subjective Que - 9,13,18,23,26,32,33,38,47,50, 59,64,73,78,79 MCQ - 23,36,39,42 Pt ey 1) Chart of Sections & Rules Sections to Be Remember 2) Various Discount Scheme See 15_| Value of Taxable Supply 3) Problem Presentation 4)Rules:- a)Rule28 —_b) Rule 30 ¢)Rule32 s:- a) 102/21/19 Penal Interest b) 15/34/19 Airport Levi RTP - May 21 - Question 1 to 5 and 6 to 10 ICAI Practice Question OR Subjective Que - 19, 25,35,40,44,47,49,50,52,55,57, 59,60,65, 68,72, 74,75,77,79,84 9, ERT ay 1) Problems on free Utilization of Cash Ledger Sections to Be Remember ‘See 49 | Payment of Tax, Interest Penalty 2) Rule 86 Amendment and Other amounts 3) Sec 50 - Problem Solving [Refer Amendment | [735 —| Interest on delayed payment of Notes] Tax ICAI Practice Question OR Subjective Que - 16,20, 27,28, 29,40,41,42,43 MCQ - 13.41.42Ce a 1) Non -Applicability of TDS/TCS Sections to Be Remember 2) Proviso :- Se | aps a) LOS & POS of Same State b) LOR - Different State sees2 | tes ICAI Practice Question OR Subjective Que - 7,10,11,14,46,47,48 PCa Cade 1) Entire Chapters is IMP i te 2) Rule 36(4) - Restriction on taking Credit Sections to Be Remember Sec 17 | Apportionment of credit & 3) Section 17(5)- Block Credit blocked Credit 4) ity of ITC = ‘See 18 | Availability of credit in Special , . Circumstances a) Free Gifts b) Buy one & get one ->y9 Taking TTC im respect of tapas &] ©) Buy More & Save more capital goods for jobwork a Manner of distribution of credit 5) Rule 42 & 43 [Chart &Problem Solving] $20 i sues Dueriter Rule 86 A :- Conditions of use of Amount available in electronic credit ledger RTP May 21 Que 14 & 18 ICAI Practice Question OR Subjective Que - 22,28,30,32,46,55,57,70,73,75,78,79,85,87,92,99,100,104,106,108,111, 112,114,115,118, 119 MCQ - 47,49,51,55,74,81,82,83,84,97,98 PSL) 1) Section 22 :- Persons liable for registration 2) Section 23 :- Person not Liable for Registration 3) Section 24 :- Compulsory Registration in certain Cases 4) Section 25:- Procedure for registration a) Aadhar Authentication [Refer Amendment Notes] b) Rule9 : Procedure [Refer Amendment Notes] 5) Section 27:- Special Provision relating to casual taxable person & non resident Taxable Person 6) Section 29 :- Cancellation /Suspension of Registration ICAI Practice Question OR Subjective Que - 18,20,21,22,23,24,26,33,43,63,65 MCQ - 14,15,28,43,60,79,80Pare CO) 1) Health Care 2) Legal Services Sections to Be Remember Sec 11_| Exemption 3) Agriculture Services 4) Transportation Services 5) Renting Of Immovable Property 6) Entertainment Services 7) Education Services 8) Government Services 9) RWA to Member 10) Supply of service by NR to Govt. /Individual ete. RTP May 21 - Questioner 11 & 15 ICAI Practice Question OR Subjective Que - 4,6,10,11,12,15,19,22,25,26,28,29,30,32,39,42,44,45,46,50,60 MCQ - 14,21,24,28,38,48,58,70,72 CAE Rete ee) 1) Section 10,11,12,13 Sections to Be Remember 2)Section 14 & OIDAR Sec 10 | Place of Supply of goods other than supply of goods imported 3) Sec 16 into or exported from India 4) IGST Rules See 11 | Place of supply of goods into or exported from India_ a) Ruled b)Rule7 Sec 12 | Determination of POS for 5) Clarification - 78/52/18 - Export Services ‘Transaction within India Sec 13. | Determination of POS for cross Border Transaction within India RTP May 21 - Que 17 ICAI Practice Question OR Subjective Que - 35,39,48,59,69,70,72,76,77,78,83,87,88,92 MCQ - 22,68,65,69,84,96,98,109,110,111,112 Pa mea 3 1) Chart 2) E-invoice & QR Code [Refer Amendment | See31_| Invoice Notes] Sec 34_| Credit and Debit Note Sections to Be Remember ICAI Practice Question OR Subjective Que - 31,50,51,52,53 MCQ - 43,48,49,50,51Cat iI 1) Chart Sections to Be Remember 2) Rectification and correction in GSTR- I Sec37_] Furnishing Details of Outward 3)GSTP Supply 4)Nilreturn by SMS [Refer Amendment Notes} | See 40_| First Return c Annual Re Tm portan {ICAI Practice Question OR] | Sec44_| Annual Return Questions from |Subjective Que - 5,7,9,14, Sec 45__| Final Return Questioner —_|15,16 See 46_| Notice to Return defaulter MCQ - 18,19,39 Sec 48 _| Goods & Service Tax Practioners PCa TGs a chad ci) Tm portant ICAI Practice Question OR Questions from| Subjective Que - 20,22,23,24 Questioner | MCQ- 14,26,28,31 PaO CaO Ce Tet) Sections to Be Remember Sec 143 | Procedure of Jobwork Sections to Be Remember Important !CAI Practice Question OR Sec 35 | Accounts and Records Questions from| Subjective Que - 14,15,23, ; . Questioner —_| 29.33,45,53,57 Sec 36__| Period of retention of Accounts MCQ - 3,8,11,17,37,48, Sec 68 _| Inspection of Goods in movement] 58,61,62.63 PUA SSE LTE UU TE Chat ice Sections to Be Remember Sec 63 | Assessment of Unregistered Perosn Sec 59 | Self Assessement Sec 64 | Summary Assessment in certain special cases ‘Sec 65. | Audit by Tax Authority See 66 | Special Audit Sec 60 | Provisional Assessment Sec 61 | Scrutiny of Return Sec 62__| Assessment of non filers of Return grins fo ICAI Practice Question OR Questions from | Subjective Que - 13,19,20,29,30,32 uestioner MCQ - 5,9,10,30,35 PUREST USC a Ce Sections to Be Remember Important JICAI Practice Question OR ‘Sec 97 | Application for Advance ruling | | Questions from | Subjective Que - 7,8,9,10,15,16 Questioner MCQ - 8,11,13,15,24,25,26 PPR UE Cac ctions to Be Remember Determination of tax not paid or short paid or erroneously refunded by reason other than fraud ete. ‘Determination of tax not paid or short paid or erroneously refunded by reason fraud ete.Sec 75 | General Provisions relating to im p or tan tICAI Practice Question determination of tax Questions from) OR subjective Que - 6,7, See 76 | Tax collected but not paid to Government || Ques 10,11,12,14,15,16,17 Sec 79 | Recovery Tax MCQ - 33,34,47,49,50 Pere CSE Sat tte) Rule 89 (4A) Deemed Export Rule 89(4B) Merchant Exporter Rule 89(4) Refund of ITC for ZRS ‘> Special problem Solving on ZRSG (Value = 1.5 times) Rule 89(5) Refund of ITC for ITS importan( Questions from| Questioner ICAI Practice Question OR Subjective Que - 15,16,18, 30,32,33,34,35,36 MCQ -7,24,29,30,34,35,36,37 Sections to Be Remember See 54 | Refund of tax ‘Consumer Welfare fund See 55 See 56 Refund in certain cases Interest on delayed Payment CPS RS Roe | Application for refund of tax, interest penalty, fees, or any other amount UPSET aa ctions to Be Remember Power of inspection, search & seizur: Inspection of goods in movement ICAI Practice Question OR| Subjective Que -15,21,22 MCQ -25,27 Important Questions from |Questioner Access to business premises ata EE Sections to Be Remember Imp ortant{ICAl Practice Question OR Sec 122 ] Penalty for certain offences Questions from] subjective Que -4, ‘See 126 | Penalty for failure to furnish oesuanee 8,9,10,11,13,14 information return MCQ -1,2,3,5,6,9,10,14, Sec 127 | Power to impose penalty in certain case 15,16,17,18,19,20,21 See 129 | Detention, seizure and release of goods and conveyances in transit Sew rae | Contiscation af goods or conveyances See and levy of penalty See 132 | Punishment for certain offences wT ' ‘ TTA Sections to Be Remember Important bares! a - oe ie or i [Questions ractice Question Sec 107 | Appeal to Appellate Authority aes Subjective Que-34,8.27, Sec 108 | Power of Revisional Authority Questioner | 28,30,31,38,39,41,42,44, 5 46,47,48,49,50 See 112 | Appeal to Appellate Tribunal MOO -7:12.20,29,30,34,35,36,37 Sections to Be Remember Important] ICAI Practice Question OR Sec 171 | Anti Profiteerting Measure Questions from} Subjective Que -34,12,13,14 Questioner MCQ-7,9,11,21,24,25Customs Act, 1962 & FIP Valuation (Emphasize on Problem Solving and Presentation) 1) Chart aaa Sections to Be Remember 2) Questioner STE [ramen rin of impored snd See TD | Assessment of Articles inset RTP M 21- Que 19 Rule 2(1)(a)| Identical Goods ICAI Practice Question OR| [Rule 2(1(0 [Similar Goods Subjective Que - 4,6,11,13, Rule 2(2) [Related 16,20,21,25,26,28,29,31, Rule3 | Determination of the method of valuation - 33, 35,38 ‘Transaction Value MCQ_9,16,18,42,47,50, Ruled [Transaction value of identical goods 52,63 Rule § [Transaction value of similar goods Rule 6 [Determination of value where value cannot be determined under rules 3.4 and § Rule 7 [Deduetive Value Rule 8 | Computed Value Rule 9 [Residual Method Rule 10 | Cost and services Adjustment in Transaction Value Rule 11 [Declaration by the importer Role 12 [Rejection of declared value Me CL UC ack En 1) Section 15, 16, 17, 18 & Project Import Sections to Be Remember 2) Short Note on Faceless Assessment] Sec 15 | Date for determination of duty rate & (Very Important) Tariff value for imported goods See 16 | Date for determination of duty rate & ‘Tariff value for export goods Sec 17_| Self Assessment Sec 17_| Provisional Assessment ICAI Practice Question OR Subjective Que - 3,4,10,11,13,14,15MCQ -4,6,10,11,14,19 1) Chart Sections to Be Remember 2) Question Bank | See74_| Drawback Alloable on re-export of Duty paid goods See 75 | Drawback on imported materials used in the manufacture of goods which are exported, See 76 | Prohibition and regulation of drawback in certain cases RTP May 21 Que 13 ICAI Practice Question OR Subjective Que - 2,3,5,6,8,16,17,18,21,22, 24,26 MCQ -5,6,9,14,26,27,33,36,43,441) Chart Sections to Be Remember 2) Question Bank Sec 77 Declaration by Owner of baggage See 78 Determination of rate of duty and tariff valuation in respect of Baggage RTP May 21 - Que 12 See 79 Bona fide baggage exempted from duty ICAI Practice Question OR Subjective Que - 1,2,5,8,9,11,14 Rule3 Passangers arriving from countries othel that Nepal Bhutan Mynmar MCQ -32,35,36,37,39 Rule4 Passengers arriving from Nepal, Bhutan,| Myanmar RuleS Jewellery eC) 1) Sec 46,47,48,49,51A, 51B, 53, 54 2) Question Bank Sections to Be Remember Sec 46 | Bill of Entry Sec 47 | Order of Clearance of H.C. ICAI Practice Question OR Sec 48 | Clearance with 30Days Subjective Que - 2,8,13 Sec 49 | Storage of goods in warehouse MCQ - 6,20,31,44,59 pending clearance See SIA] Clearance of goods for Exportation Sec 53_|_‘Transit without Duty See 84 | Tranship without Duty ST) 1) ACD 3(7) & 3(9) (more focus on valuation in case of warehousing sale) 2)Section8 3) Section 9 4) Section 9A (more focus on Problem solving and Amendments ) Dede 1)Section 22,23 2) Section 20 a) With Notification b) Problem Solving Sections to Be Remember Levy of additional duty countervail levy of GST [ACD 3(7)| Levy of additional duty Countervail ACD 3(9)| levy of GST Compensation cess Sec 8 Sec 9 Safeguard Duty CVD on Subsidies Article Rule 9A Anti-Dumping Duty .ctions to Be Remember ‘Abatement of duty on damaged or deteriorated goods Remission of duty on Lost, Destroyed or abandoned goods Re-importation of goods1) Advance Authorisation Scheme 2) Duty Free Import Authorisation(DFIA) 3) MEIS & SEIS 4) Export Promotion Capital Goods Scheme ICAI Practice Questions OR Subjective Que - 1,5,6,9,12,15,16,17,19,20,21,22, 28,29,30,31 MCQ - 9,10,12,17,18,20,28,32,33, 34,37 Take Overlook 1) Strategy for One day before Exam (Video & PDF) 2) Time table for Study(One Day Before Exam)(PDF) 3) Amendments & Questions on Amendments(Video & PDF) 4) Expected Questions on Amendments Nov 20 (PDF) 5) Summary - Analysis of Interest on Loan/Advances / Deposit (Video & PDF) 6) Applicability of 10(2) conditions only in Current Year(PDF) 7) Topicwise Weightage of Marks (Given by ICAI(PDF) for the study Plan please refer link given below:- www.vsmartacademy.com/vishalsirCGST Act 2017 - Sections to Be Remember in Sequence Sec7_| Meaning and Scope of Supply Sec 8 | Composite and mixed Suppl Sec 9 | Levy & Collection of CGST Sec 9(3) | Reverse charge under notified cases Sec 9(4) | Reverse charge in case of supply by unregistered to registered Sec 9(5) | Electronic Commerce Operator Sec 10 (1) | Eligibility for Composition Levy See 10(2) | Other Conditions for Eligibility See 102A) | Eligibility for Composition Levy for See 11_| Exemption Sec 12 _| Time of Supply of Goods Sec 13__| Time of Supply of Srvices Sec 14_ | Change in effective rate of Tax Sec 15 | Value of Taxable Supply Sec 17 | Apportionment of credit & blocked Credit Sec 18 | Availability of credit in Special Circumstances Sec19 | Taking ITC in respect of inputs & capital goods for jobwork Sec 20_| Manner of distribution of credit by Input Service Distributor See31_| Invoice Sec 34_ | Credit and Debit Note Sec 35 _| Accounts and Records Sec 36 _| Period of retention of Accounts Sec 37_| Furnishing Details of Outward Supply Sec 40_| First Return Sec44_| Annual Return See45__| Final Return See 46 _| Notice to Return defaulter Sec 48__| Goods & Service Tax Practioners See 49 _| Payment of Tax, Interest Penalty and Other amounts Sec 50 | Interest on delayed payment of Tax See $1 Sec 52 SeeS4 | Refund of tax Sec 55 _| Refund in certain cases See 56 _| Interest on delayed Payment Sec57_| Consumer Welfare fund See 59_| Self Assessement Sec 60 | Provisional Assessment Sec 61_| Scrutiny of Return Sec 62_| Assessment of non filers of Return Sec 67 _| Power of inspection, search & seizureCGST Act 2017 - Sections to Be Remember in Sequence Sec 68 | Inspection of Goods in movement Sec 71 | Access fo business premises ‘See 73 | Determination of tax not paid or short paid or crroncously refunded by reason other than fraud etc. Sec 74 _| Determination of tax not paid or short paid or erroneously refunded by reason fraud ete. Sec 75 _| General Provisions relating to determination of tax Sec 76 _| Tax collected but not paid to Government Sec79__| Recovery Tax See 97__| Application for Advance ruling See 107 | Appeal to Appellate Authority Sec 108 | Power of Revisional Authority Sec 112 _| Appeal to Appellate Tribunal Sec 122 | Penalty for certain offences ‘See 126 | Penalty for failure to furnish information return Sec 127 _| Power to impose penalty in certain cases Sec 129 | Detention, seizure and release of goods and conveyances in transit Sec 130 | Confiscation of goods or conveyances and levy of penalty Sec 132 _| Punishment for certain offences Sec 143 _| Procedure of Jobwork Sec 171 | Anti Profiteerting Measure IGST Act 2017 - Sections to Be Remember in Sequence Sec 10 _| Place of Supply of goods other than supply of goods imported into or exported from India Sec 11_| Place of supply of goods imported into or exported from India Sec 12 | Determination of POS for Transaction within India Sec 13 | Determination of POS for crossBorder Transaction within India