Theory And Practice of GST || Unit 01 || B.Com || Third Year || Sem 6 || Advantages of GST скачать в хорошем качестве

Theory And Practice of GST || Unit 01 || B.Com || Third Year || Sem 6 || Advantages of GST

B.Com Theory & Practice of GST – Complete Lecture for Degree Students Welcome to this detailed lecture on Theory and Practice of GST (Goods and Services Tax), an important subject in the B.Com degree program. This video is designed to help students understand the fundamental concepts of GST in a simple, clear, and exam-oriented manner. GST is a comprehensive indirect tax introduced in India to replace multiple taxes such as VAT, service tax, excise duty, and others. It is a destination-based tax that is levied on the consumption of goods and services. The main objective of GST is to create a unified tax system across the country, reduce tax cascading, and simplify the overall taxation structure. This subject explains the structure of GST, including CGST (Central GST), SGST (State GST), and IGST (Integrated GST), and how these taxes are applied to different types of transactions. Students learn about taxable supply, place of supply, time of supply, and value of supply, which are the key concepts used to determine GST liability. The course also covers input tax credit (ITC), which allows businesses to reduce their tax burden by claiming credit for the taxes paid on purchases. Understanding ITC is essential for proper GST compliance and efficient tax planning. In addition, the subject focuses on the practical aspects of GST, such as registration procedures, invoicing, returns filing, payment of taxes, and record maintenance. Students also learn about composition schemes, exemptions, and penalties, which are important for real-world applications. Theory and Practice of GST helps students develop a practical understanding of indirect taxation, preparing them for careers in accounting, taxation, auditing, finance, and business management.