In this course, you will learn about some other key concepts under GST. All taxpayers may not apply these concepts, but the concepts are nonetheless integral to the understanding and application of GST. You will first understand the concept of zero-rated supply and identify the different types of supplies that are taxable but have zero GST rate. Next, you will learn about refunds, their applicability, and the process of claiming GST refunds from tax authorities. Finally, you will learn about job work and the associated GST compliances.
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This course provides a platform for learners planning to launch their careers in the field of GST-related compliance in India. Learners already undertaking GST compliances may also upskill themselves with the technical skills imparted under this course. This program is industry agnostic and is relevant for anyone looking to acquire basic knowledge of GST. It will provide you with the skills required for entry level jobs in the fields of finance, tax, or law.
By the end of this course, you will know:
- What is a zero-rated supply and the different types of supplies that are zero-rated
- The objective behind classifying some supplies as zero-rated supplies
- The types of refunds and various situations when a refund is allowed under the GST law in India
- The process of obtaining GST refund, computation of refunds, and the documents required
- The concept of job work, responsibilities of a job worker and the principal, and the compliances required to be undertaken.
Course 5 of 7 in the PwC GST Taxation Executive Professional Certificate.
What You Will Learn
- Define and explain the principles governing the need for zero rating and Identify supplies that are zero-rated.
- Learn about circumstances where GST refund is allowed.
- Process to obtain GST refund on the government portal, including refund computation, timelines for grant of refund and the documentation required.
- Learn about responsibilities of a job worker and the compliances to be undertaken.
Syllabus
WEEK 1
Interpreting zero-rated supplies
A zero-rated supply is a taxable supply with the tax rate applied being zero. In this module, you will learn the different types of supplies which are zero-rated, namely export of goods, export of services and supplies to SEZ. You will also learn the principles governing the need for zero rating and the objective behind classifying these supplies as zero-rated supplies.
WEEK 2
All about refunds
The GST law has made it possible to obtain refunds simply through a standardised process for filing a refund claim. Every claim should be filed online in a standardised form. The application is forwarded to the proper officer who is required to scrutinise the application in a time-bound manner.
In this module, you will learn the types of refunds allowed under the GST law along with the procedures and documents required for filing refund applications. You will also gain insights on the practical aspects of filing refund claims.
WEEK 3
Working with a job worker
A job worker is a person who undertakes a treatment or a process on goods belonging to another person, i.e. the principal. The concept of job work is important because the GST law mandates that in case of a job work, the principal manufacturer is responsible for compliances on behalf of the job worker on goods processed by such job worker. In this module, we shall discuss the concept of job work, understand the responsibilities of a job worker and the principal, and describe the compliances to be undertaken by a job worker.
