Taxmann's bestselling flagship commentary, GST How to Meet Your Obligations, provides a comprehensive and practical analysis of India's Goods and Services Tax (GST). This 2-volume set offers detailed insights into GST law, covering every aspect of the statutory provisions, including Acts, Rules, Notifications, and Clarifications. With over 2,500 pages, the book explains the key areas of GST, such as levy, exemptions, input tax credit, exports/imports, and dispute resolution, using clear language, illustrations, and examples to break down complex provisions. Supported by judicial rulings and case laws, it acts as a reliable and trusted guide for understanding the complexities of GST.
This commentary is an essential resource for a wide range of professionals. Tax professionals and consultants will find it a comprehensive guide for advisory and compliance purposes. Business owners and financial managers can use it to effectively adhere to GST obligations, ensuring smooth operations and compliance. Departmental officers benefit from its authoritative content, serving as a valuable reference for administration and enforcement. Legal practitioners and courts will find clarity on GST provisions and case law interpretations, making it a trusted tool for handling litigation and legal analysis related to GST.
The Present Publication is the 15th Edition, amended by the Finance (No. 2) Act, 2024, enforced w.e.f. 27th September & 1st November, 2024. It covers the recommendations of the 54th GST Council Meeting and is authored by S.S. Gupta, with the following noteworthy features:
[Exhaustive GST Commentary] The book provides an in-depth commentary on various provisions of GST spread across eighty-nine chapters. It covers key areas of GST law, including levy, exemptions, input tax credit, exports and imports, special scenarios, compliance, and dispute resolution
[Interlinking of Statutory Contents] This commentary provides an interlinked approach to GST laws, rules, and notifications. It explains the scope of provisions across sections, rules, and statutes, offering a comprehensive understanding of how the GST law operates in an interconnected manner
[Judicial Precedents & Case Laws] Each topic is supported by relevant case laws and judgements from various Tribunals, High Courts, and the Supreme Court. This aids in understanding the practical interpretation of provisions and assists professionals in applying the law accurately in complex scenarios
[Illustrations & Practical Examples] Numerous examples and illustrations are provided throughout the book, simplifying complex concepts and demonstrating the real-world application of GST provisions
[Simple & Lucid Language] The book is designed to be user-friendly, making even the most complex legal provisions easily comprehensible. It is tailored to explain the law in layman's terms, ensuring that readers from varied backgrounds can understand the GST framework effectively
The topics across the two volumes are arranged systematically, beginning with the basic principles of GST and advancing to detailed discussions on special scenarios, transitional provisions, and dispute resolution. The book is structured across multiple divisions, ensuring a logical and thorough progression of concepts
Division One | Basic Concepts
Chapter 1 – Introduction & Basic Concept
Introduces the fundamentals of GST, including its background, need, and the legal framework
Chapter 2 – Constitutional Amendment
Discusses the constitutional provisions underpinning GST
Chapter 3 – Framework of GST Laws
Explores the structure and framework of GST laws in India
Division Two | Levy of GST – Key Aspects
Chapter 4 – Meaning and Scope of Supply
Explains the supply concept, its scope, and relevance under GST.
Chapter 5 – Deemed Supplies
Details transactions deemed as supplies under GST law
Chapter 6 – Levy of GST
Discusses the charging section of GST
Chapter 7 – Meaning of Goods
Defines 'goods' and their treatment under GST
Chapter 8 – Meaning & Scope of Service
Explains the scope and definition of services
Chapters 9-19
Cover topics such as inter-state and intra-state supplies, taxable persons, composition levy, reverse charge mechanism, classification and rates of tax, place and time of supply, value of supply, exemptions, and non-taxable supplies
Chapter 20 – Refund of Taxes
Explores situations where refunds are applicable, including exports and excess tax payments
Chapter 21 – Deduction of Tax at Source
Discusses the concept of TDS under GST, applicable provisions, and practical compliance
Chapter 22 – Collection of Tax at Source
Provides guidance on TCS obligations for e-commerce operators and other specified persons
Chapter 23 – Levy of Interest
Covers provisions related to interest on delayed tax payments and refunds
Chapter 24 – Other Levies – GST (Compensation to States) Act & Cess
Explains the additional levies and cess imposed for compensating states for revenue loss
Division Three | Input Tax Credit
Chapter 25 – Introduction to Input Tax Credit
Provides an overview of the input tax credit mechanism
Chapters 26-36
Cover eligibility criteria, blocked credits, conditions for availing ITC, ITC utilisation, and the treatment of input services, capital goods, and common inputs for exempted and taxable supplies. It also includes guidance on input service distributors, matching of credit, blacklisting of dealers, and recovery provisions
Division Four | Export and Import of Goods and Services
Chapter 37 – Export of Goods
Explains the taxation and procedural aspects related to the export of goods
Chapters 38-46
Discuss the taxation of export services, import procedures, deemed exports, supplies to SEZs, warehouse transactions, high sea sales, and operations under the MOOWR scheme
Division Five | Special Scenarios
Chapter 47 – Transaction with Related Party/Distinct Person
Analyses GST implications for related party transactions
Chapters 48-58A
Cover specific situations like job work, e-commerce supplies, online services, corporate guarantees, mergers, taxation of vouchers, discounts, actionable claims, and the waiver of interest or penalty
Division Six | Transitional Provisions
Chapter 59 – Transitional Credits
Details how credits can be carried forward from the pre-GST regime
Chapters 60-63
Discuss transitional provisions, the impact on ongoing contracts, anti-profiteering measures, and the repeal of erstwhile laws
Division Seven | GST Compliance
Chapter 64 – Registration
Covers registration requirements, procedures, and types of GST registration
Chapters 65-71
Provide practical guidance on documentation, e-way bills, input tax credit records, tax payments, returns and reconciliations, and special compliance for selected products.
Division Eight | Administration, Assessments, Audits & Investigation
Chapter 72 – Class and Power of Officers
Discusses the authority and jurisdiction of GST officers
Chapters 73-77
Include detailed procedures on assessments, return scrutiny, audits (regular and special), demand, recovery, and adjudication
Chapter 78 – Inspection, Search & Seizure
Explores the powers of officers to inspect, search, and seize goods or records to ensure compliance
Chapter 79 – Provisional Attachment
Discusses provisions on attaching properties of taxpayers for safeguarding government revenue
Chapter 80 – Residual Matters
Covers various residual matters not addressed in earlier chapters, providing a holistic understanding of administrative and procedural aspects under GST
Division Nine | Penalties and Prosecution
Chapter 81 – Penalties, Confiscation & Fines
Explores the legal consequences for non-compliance with GST provisions
Chapter 82 – Arrest, Prosecution, and Confiscation
Details prosecution procedures and offences under GST law
Division Ten | Dispute Resolution
Chapter 83 – Appeals | General Provisions
Outlines the appeal process, time limits, pre-deposit requirements, and powers of revisionary authorities
Chapters 84-89
Include procedures for appeals to appellate authorities, GST Appellate Tribunals, High Courts, and the Supreme Court, along with guidelines on advance rulings and the GST Amnesty Scheme
Appendices
A compilation of key legislative texts, including
Central Goods and Services Tax Act, 2017
Integrated Goods and Services Tax Act, 2017
Union Territory Goods and Services Tax Act, 2017
GST Compensation to States Act, 2017
CGST Rules, 2017
IGST Rules, 2017
