Taxmann GST & Customs Law (University Edition) by KM Bansal – 7th Edition January 2022

Taxmann’s flagship publication on GST & Customs Law aims to fulfil the requirement of students of undergraduate courses in commerce and management, particularly the following:

• Choice Based Credit System
  • B.Com. (Hons.) Semester VI: Paper BCH 6.2: Goods and Services Tax (GST) and Customs Law
  • B.Com. Semester V: Paper BC 5.2(b): Goods & Services Tax (GST) and Customs Law
• Non-Collegiate Women’s Education Board
• School of Open Learning of University of Delhi
• Various Central Universities throughout India.

This book aims to minimize the need to consult multiple books while preparing for the exam and give the students a step-by-step guide for learning the subject.

This book is written in simple language, explaining the provision of the law in a step-by-step manner with the help of suitable illustrations, without resorting to paraphrasing of sections and legal jargons. This book helps bridge the gap between theory and application of the subject matter.

This book is an authentic, up to date & amended textbook on GST & Customs Law. The Present Publication is the 7^th Edition & Updated till 1^st January 2022, authored by CA (Dr.) K.M. Bansal, with the following noteworthy features:

• [Most Updated & Amended] This book incorporates the following amendments:
  • After the rollout of GST in India with effect from 1^st July 2017, there have been many changes in the GST laws.
    • Up to 31^st December 2021, 367 Central Tax notifications have been issued by the Central Government
    • The related numbers are 223 and 168 regarding Central Tax (Rate) notifications and CGST circulars, respectively
    • Till date, the GST Council held 46 meetings to discuss the anomalies, approval of amendments, budget proposals and other practical issues in the implementation of GST laws
    • The latest GST Council’s 46th meeting was held on 31^st December 2021 in Lucknow under the chairmanship of the Union Finance & Corporate Affairs Minister Smt. Nirmala Sitharaman
  • [Sections 108, 109 and 113-122 of the Finance Act, 2021] which have been made applicable vide Notification No. 39/2021-CT dated 21-12-2021, enforced with effect from 1-1-2022, have been incorporated in the present edition.
  • [Section 16(2) (aa) of CGST Act, 2017 & Section 109 of Finance Act, 2021] w.e.f. 1^st January 2022 and the subsequent Notification No. 40/2021-CT, dated 29^th December 2021, w.e.f. 1-1-2022 has been duly incorporated in Chapter 10 (ITC) and Chapter 11 (Payment of taxes). Also, the related illustrations have been modified as per the new provisions to enable the student to understand this amendment.
• [Self-Learning/Practice Book] Features teach yourself technique enabling students to learn faster
• [Student-Oriented Book] This book has been developed, keeping in mind the following factors:
  • Interaction of the author/teacher with their students in the classroom
  • Shaped by the author/teachers experience of teaching the subject-matter at different levels
  • Reaction and responses of students have also been incorporated at different places in the book
• [Each Paragraph Starts with an Introduction] which aims to set the objective and focus of students regarding the content that will follow
• [Each Chapter Contains a Complete Explanation] of the topic with suitable examples followed by graded illustrations and questions for practice
• [Question of Recent University Examinations] have been incorporated in the book:
  • B.Com. (Hons.) | 2018 – (June) 2021
  • B.Com. | 2017 – December 2021
• [Follows Six-Sigma Approach] to achieve the benchmark of ‘Zero-Error’

The contents of the book are as follows:

• Indirect Taxes in India: Pre-GST Era
• GST in India: An Introduction
• Registration
• Supply under GST
• Levy and Collection of GST
• Exemptions from GST
• Place of Supply
• Time of Supply
• Value of Supply
• Input Tax Credit
• Payment of Taxes
• Job Work
• Reverse Charge Mechanism
• Tax Invoice, Credit and Debit Notes
• Returns under GST
• Accounts, Records & Audit
• Assessment
• Offences, Penalties & Appeals
• Miscellaneous Provisions
• Basic Concepts of Customs Law
• Types of Customs Duty
• Valuation under Customs
• Customs Procedure
• Baggage and Exemptions