GST AND CUSTOM LAW | ONE SHOT | DETAILED EXPLANATION | SEM 6 | BCOM | DU/SOL/REGULAR

Telegram t.me/idea_infusion Unit 1 to Unit 5 of your GST and Customs Law syllabus: --- Welcome to [Idea Infusion] – Your Complete Guide for GST, Customs Law, and Commerce Subjects! In this video (or video series), we bring you a detailed and student-friendly explanation of Units 2 to 5 of the Indirect Taxation syllabus, specifically focusing on GST (Goods and Services Tax) and Customs Law in India. Whether you are preparing for B.Com, M.Com, CA, CMA, CS, MBA, or any professional/competitive exam – this lecture is your one-stop solution to mastering key tax concepts! Presented in easy language with practical examples and updated legal references, this video helps you understand both theoretical and applied aspects of GST and Customs. --- What You'll Learn: --- Unit 2: Levy and Collection of GST (15 Hours) Scope of ‘Supply’ Meaning and definition of supply under GST Inclusions and exclusions (Schedule I, II, III) Supply without consideration Nature of Supply Inter-State supply vs. Intra-State supply Understanding IGST, CGST, and SGST applicability Supply within Union Territories Classification of Goods and Services HSN codes and SAC codes GST rate slabs and classification disputes Composite and Mixed Supplies Meaning, examples, and tax treatment Principal vs. ancillary supplies Real-life examples for better clarity Composition Levy Scheme Eligibility criteria and threshold limits Benefits and limitations Return filing under the composition scheme Place of Supply Importance in determining the nature of supply Rules for goods and services Special provisions for e-commerce, events, transport, etc. Time of Supply When GST becomes payable Provisions for goods and services Reverse charge timing Value of Supply Transaction value Inclusions and exclusions Discounts, subsidies, and valuation rules --- Unit 3: Input Tax Credit (ITC) and Reverse Charge Mechanism (9 Hours) Eligible and Ineligible ITC Section 16 and 17 of CGST Act Conditions for availing ITC List of blocked credits Apportionment and Blocked Credits Rule 42 & 43 Business vs. personal use Common inputs and services ITC on Capital Goods Definition and treatment Restrictions and availability Special Circumstances for ITC New registration, business transfer, composition to regular, etc. Reverse Charge Mechanism (RCM) When GST liability is on recipient Applicability for goods and services ITC treatment under RCM --- Unit 4: Tax Invoice, Returns and Payment of Tax (7 Hours) Tax Invoice Format and mandatory contents Invoice vs. Bill of Supply Credit and Debit Notes Use, rules, and impact on tax liability e-Way Bills When and how to generate Applicability thresholds and compliance Returns Under GST Types of returns: GSTR-1, GSTR-3B, GSTR-9, etc. Due dates and penalties Payment of Taxes Use of electronic ledgers Challan creation, offset rules Taxability of e-Commerce TCS provisions Compliance for platforms and sellers --- Unit 5: Customs Law (5 Hours) Basic Concepts of Customs Definition of import/export, customs area, customs port Territorial Waters and High Seas Legal zones and jurisdiction Importance in customs enforcement Types of Custom Duties Basic Duty, CVD, IGST, Anti-Dumping, Safeguard, etc. Applicability and examples Valuation of Imported Goods CIF value, assessable value Customs valuation rules and calculation with examples --- Important Note: All topics are explained as per the latest laws and amendments. However, in case of any future notifications or changes by the GST Council or CBIC (Central Board of Indirect Taxes and Customs), the syllabus and related provisions will be updated accordingly. Always cross-verify with official sources for the most current legal information. --- Why Watch This Video/Series? Complete coverage of Units 2 to 5 of GST and Customs Simple explanations, practical examples, and exam-oriented tips Useful for students, educators, and professionals Covers both conceptual clarity and calculation-based questions --- Don’t forget to Like, Share, and Subscribe to Idea Infusion for more such educational content in Commerce, Law, Accounting, and Taxation. If you have any doubts or need more videos on specific topics, drop your questions in the comments! --- #GST2024 #CustomsLaw #TaxationMadeEasy #BComClasses #CMA #CS #CAStudents #CommerceLectures #StudyWithUs #CBIC #IndirectTaxIndia #GSTRules #InputTaxCredit #ReverseChargeMechanism #eWayBill #ValuationUnderCustoms #ExamPreparation