Taxmann Practical Guide to GST Compliances by DS Agarwala – 1st Edition 2022

The book aims to deal with all the critical issues that a common person who deals with the GST law faces and their possible solutions. The authors have incorporated as many problems as possible and their potential solutions and suggest a preventive, corrective, and defensive approach to tackle those problems. The book has been written in a non-technical language to the extent possible so that even a common person can understand the solutions to their problems. Reading this book will give a bird’s eye view of the GST law’s problems and probable solutions.

Since each issue cannot be framed in a question-answer format, in some issues, the book contains commentaries which give answers to many questions in one write up. Tabular formats have been used in the text to be easily understandable. The book is a blend of question-answers, commentaries, tabular presentations, and diagrammatic presentations, which gives a complete view and perspective on the law.

The Present Publication is the latest 2022 Edition, authored by CA D.S. Agarwala, CA Vikash Kumar Banka and CA (Dr.) Ayush Saraf. The law stated in this book is updated by the Finance Act 2022 and updated till 30^th April 2022, with the following noteworthy features:

• [Easy Understanding of ‘Supply to Return’ Cycle] including various types of supply such as:
  • Non-GST Supply
  • Taxable Supply
  • Non-Taxable Supply
  • Exempt Supply
  • Nil-Rated Supply
• [Explanation of Reverse Charge Mechanism] in the most straightforward possible manner
• [Determination of GST Rates] based on classification principles
• [Practical Issues & Suggestions] in the following cases:
  • Supply including the provisions and practical issues
  • Valuation includes various practical scenarios & solutions
  • Invoicing
  • Time of Supply
  • Input Tax Credit including a detailed and micro-level analysis
  • Registration includes a detailed commentary which consists of the mistakes committed, possible repercussions and solutions
  • Accounts and Records
  • Detention of Goods & Vehicles
  • Transfer of Business (due to death of the proprietor)
• [Standard Operating Procedures for Filing of Returns (GSTR-1 and GSTR-3B)] which covers a detailed procedure to be followed by every taxpayer and professional so that mistakes and errors may be minimised
• [Complete Guide to GST Refunds] with all provisions, including Circulars, Notifications, etc., in one place for each refund category
• [Two-way GST Accounting System] for effective monitoring of input tax credit and output liability
• [Standard Operating Procedures for Finalization of Accounts] focusing on topics such as:
  • Auditors’ Report
  • Directors’ Report
  • Notes to Accounts
  • Balance Sheet
  • Profit & Loss Account
  • Reporting GST transactions in Form 3CD
  • Assessing Form 26AS from the perspective of GST Law
• [Audit by GST Department] u/s 65 of the CGST Act, 2017
• [Defensive Measures] in case of departmental proceedings
• [MIS Reports Generated by GSTN] including practical suggestions
• [Tax Audit Report (Form 3CD) & Companies Audit Report] w.r.t. GST related transactions is included in this book

The structure of the book is as follows:

• [Introduction to GST] The first chapter deals with the basic structure of the GST Law and various vital concepts under the Law
• [Concept of Supply] The second chapter on supply deals with the issues relating to the definition of supply in a detailed manner. The ‘Supply to Return’ cycle in this chapter helps in the understanding of GST provisions in a sequential manner. It also covers various types of supplies such as:
  • Non-GST Supply
  • Taxable Supply
  • Non-Taxable Supply
  • Exempt Supply
  • Nil-Rated Supply
• [Reverse Charge] Concept of the reverse charge mechanism and various issues associated with the concept are thoroughly discussed in the third chapter
• [Valuation] The fourth chapter deals with the valuation of goods and services under the GST Regime. It contains various practical scenarios and their possible solutions
• [Classification of Goods & Services and Determination of GST Rate] Classification of goods & services and determination of GST rate form the subject matter of discussion in the fifth chapter
• [Place of Supply] Provisions and practical issues relating to place of supply are dealt with in the sixth chapter
• [Invoicing, Credit & Debit Notes] The seventh chapter provides an essential understanding of the provisions relating to Invoicing, credit notes and debit notes. It lists down various possible scenarios wherein problems may arise and their possible solutions with clarity
• [Time of Supply] Time of supply provisions and the practical issues & situations relating to the concept have been elaborately elucidated in the eighth chapter for the benefit of taxpayers, tax officers and tax practitioners
• [Input Tax Credit] A critical analysis of the various practical problems taxpayers face availing the input tax credit and its probable solutions is dealt with in the ninth chapter. The chapter contains a detailed and micro-level analysis of the various issues relating to the input tax credit under the GST Regime
• [Payment of Tax] The tenth chapter deals with the provisions of payment of tax
• [SOP of Filing of Returns (GSTR-1 & 3B)] The eleventh chapter provides a standard operating procedure (SOPs) for filing returns which covers a detailed procedure to follow by every taxpayer and professional while filing returns so that mistakes and errors may be minimised
• [Refund] The twelfth chapter contains a complete guide to claiming a refund with all provisions, including Circulars, Notifications etc., in one place for each refund category
• [Annual Return and Reconciliation Statement] The thirteenth chapter contains provisions relating to annual return and reconciliation statements under the GST regime
• [Registration] A detailed commentary on various issues and problems faced relating to the following:
  • Registration provisions under the GST Law
  • Mistakes committed
  • Possible repercussions
  • Solutions
• [Accounts and Records] The fifteenth chapter deals with the importance of maintaining proper accounts and records under the GST Law and possible line of defence in case of any unintentional non-compliance
• [GST Accounting Treatment] A detailed guide relating to the accounting treatment of GST transactions have been discussed in the sixteenth chapter
• [SOP before Finalisation of Accounts] A detailed SOP on various checkpoints to be covered before the finalisation of accounts is covered in the seventeenth chapter. The chapter contains areas like Auditors’ reports, Directors’ Reports, Notes to Accounts, Balance Sheets, Profit & Loss Accounts, Reporting GST transactions in Form 3CD and assessing Form 26AS from the perspective of GST Law
• [Audit by GST Department] The eighteenth chapter deals with various issues faced during departmental audit u/s 65 of CGST Act, 2017
• [Assessment] The nineteenth chapter deals with provisions relating to assessment u/s 61, 62, 63 and 64 of the CGST Act, 2017
• [MIS Reports] The twentieth chapter of the book discusses the various MIS reports generated under the GST regime by the department for its officers and practical suggestions for them
• [Transfer of Business (Due to death of Proprietor)] A detailed commentary on the procedure of transfer of business in case of death of a proprietor is discussed in chapter twenty-one. It also covers various notifications and legal provisions relating to the issue
• [Detention, Seizure & Release of Goods and Conveyances in Transit] The twenty-second chapter elaborately deals with the provisions relating to detention, seizure & release of goods and conveyances in transit. It also quotes various practical problems faced by stakeholders along with its possible solutions
• [Overview of GST Portal – Dashboard] Chapter twenty-three contains a brief overview of the GST Portal – Dashboard

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