GST - Genesis and imposition!

Go to Course: https://www.coursera.org/learn/gst-genesis-and-imposition

Introduction

## Course Review: GST - Genesis and Imposition! ### Overview The course **"GST - Genesis and Imposition!"** is the introductory module of the PwC GST Taxation Executive Professional Certificate, offered on Coursera. It serves as a fundamental stepping stone for anyone aspiring to become proficient in Goods and Services Tax (GST) in India. As the first course in a series, it provides essential insights into the genesis, structure, and implementation of GST, setting the stage for deeper exploration in subsequent modules. ### Course Content and Structure The curriculum is designed meticulously with a clear focus on the practical and theoretical aspects of GST. The course is divided into three main modules, each tackling pivotal concepts essential to understanding GST. 1. **Framework of GST**: This module begins by tracing the historical context leading up to the implementation of GST in India. Learners will delve into the pre-GST indirect tax landscape, recognizing the challenges that necessitated a unified tax system. It discusses the Constitutional and legislative framework that underpins GST, laying a solid foundational understanding for learners. 2. **Decoding the Concept of Supply - Part 1**: Here, the course introduces the concept of ‘supply’, which is the cornerstone of GST. Learners will explore critical definitions and elements associated with supply, such as sale, barter, and exchange. The module also distinguishes between various types of supplies (inter-State and intra-State) and elaborates on exempt and non-GST supplies, enhancing the learner's ability to analyze transactions effectively. 3. **Decoding the Concept of Supply - Part 2 & Part 3**: These modules continue the exploration of the concept of supply, further dissecting its numerous elements. The repetition across parts emphasizes the complexity and importance of correctly identifying what qualifies as ‘supply’ under GST regulations. This comprehensive approach ensures that learners walk away with the capability to apply their knowledge practically. ### Learning Outcomes By the end of this course, participants will: - Understand the historical and legal background that led to the introduction of GST in India. - Be familiar with the fundamental concepts and structure of GST. - Develop a robust understanding of the term ‘supply’ and be able to identify various forms of supply as defined in the GST law. ### Why You Should Take This Course 1. **Expertise from Industry Leaders**: The course is facilitated by PwC, one of the world's foremost professional services firms. This association guarantees that the content is not only accurate but also reflective of real-world practices. 2. **Comprehensive Foundation**: For anyone planning to specialize in tax law or GST compliance, this course provides an invaluable grounding essential for more advanced studies. 3. **Flexible Learning**: Being an online course on Coursera, it offers flexibility for learners to study at their own pace while balancing other responsibilities. 4. **Practical Relevance**: The focus on practical scenarios ensures that learners are equipped to apply their knowledge in professional settings, enhancing their employability in tax-related fields. ### Conclusion In summary, the **"GST - Genesis and Imposition!"** course is an excellent investment for anyone looking to embark on a career in GST or tax consultancy in India. With its solid curriculum designed to provide a breadth of knowledge and its practical applications, this course is highly recommended for both new entrants to the field and seasoned professionals seeking to refresh their understanding of GST. Don’t miss out on this opportunity to learn from industry leaders and gain a comprehensive insight into GST at this foundational level!

Syllabus

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.

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.

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.

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.