GST - Genesis and imposition! (Coursera)

This course provides a platform for learners planning to launch their careers in tax or sharpen their skills with the technical understanding of the GST law in India. The course is a part of the PwC GST Taxation Executive Professional Certificate which is industry agnostic and 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 the shortcomings of the earlier indirect tax regime and why GST was introduced

- Know the basic framework of GST in India and the changes brought in the Indian Constitution for introducing GST

- Understand the concept of supply under GST and related definitions like goods, services, and consideration

- Understand which goods and services are included or excluded from GST

- Understand the various types of supplies (viz. inter-State, intra-State, exempt, non-GST, composite, and mixed supplies), and how they impact the computation of GST.

Course 1 of 7 in the PwC GST Taxation Executive Professional Certificate.

What You Will Learn

- Explain the genesis of GST, the need for its introduction and the Constitutional and legal framework under which it was introduced.

- Identify and describe different forms of supplies of goods and services, deemed supplies and transactions excluded from the scope of supply.

- Differentiate various types of supplies and identify whether a supply is inter-State or intra-State, exempt or composite supply.

- Critically analyse whether a given transaction is a supply and define the nature of supply.

Syllabus

WEEK 1

Framework of GST

What is the genesis of GST in India? In this module, you will learn about the pre-GST indirect tax framework and the associated challenges faced by businesses leading to the introduction of GST in India. We shall then examine the framework of GST from a Constitutional and legislative perspective. This module will provide you with the background required to focus on the concepts and structures under the GST, which we will discuss in the subsequent courses.

WEEK 2

Decoding the concept of supply - Part 1

GST, as you are aware, is levied on the ‘supply’ of goods and services. The three key terms are ‘supply’, ‘goods’ and ‘services’. The entire structure of GST revolves around these three terms. In this module, you will learn about the concept of supply as it is defined in the GST law. The term ‘supply’ has various elements, such as sale, barter and exchange, each of which will be analysed. The key definitions that are critical to determine the applicability of GST will also be covered.You will also explore different concepts under GST such as inter-State and intra-State supplies, exempt and non-GST supplies, and composite and mixed supplies.

At the end, you should be able to identify a transaction or activity and determine whether the transaction qualifies as a ‘supply’ under GST.

WEEK 3

Decoding the concept of supply - Part 2

GST, as you are aware, is levied on the ‘supply’ of goods and services. The three key terms are ‘supply’, ‘goods’ and ‘services’. The entire structure of GST revolves around these three terms. In this module, you will learn about the concept of supply as it is defined in the GST law. The term ‘supply’ has various elements, such as sale, barter and exchange, each of which will be analysed. The key definitions that are critical to determine the applicability of GST will also be covered.

You will also explore different concepts under GST such as inter-State and intra-State supplies, exempt and non-GST supplies, and composite and mixed supplies. At the end, you should be able to identify a transaction or activity and determine whether the transaction qualifies as a ‘supply’ under GST.

WEEK 4

Decoding the concept of supply - Part 3

GST, as you are aware, is levied on the ‘supply’ of goods and services. The three key terms are ‘supply’, ‘goods’ and ‘services’. The entire structure of GST revolves around these three terms. In this module, you will learn about the concept of supply as it is defined in the GST law. The term ‘supply’ has various elements, such as sale, barter and exchange, each of which will be analysed. The key definitions that are critical to determine the applicability of GST will also be covered.

You will also explore different concepts under GST such as inter-State and intra-State supplies, exempt and non-GST supplies, and composite and mixed supplies. At the end, you should be able to identify a transaction or activity and determine whether the transaction qualifies as a ‘supply’ under GST.