Full GST Course 2020 | Chapter 12. Difference between RCM & TDS & TCS

Simply explained step by step guide of Goods and Services Tax for FREE, let's enjoy this period of lockdown by learning new laws and regulations and be updated and be atmanirbhar.
By learning these step by step chapters, you will learn 
Chapter wise
1. Introduction
1) Introduction to GST
o What is Goods and Service Tax
2) Earlier and GST Situation
o Difference between Past and Present Tax Situation
3) Applicability of GST in India
o When GST is to be applicable?
o What are those transaction on which GST applicable
o “Supply” under GST
4) Types of Taxes
o Types of Indian Government Taxes
o Types GST Tax
o Present Tax Structure in India
5) Meaning of Central /State Government , Local Authorities , Union Territories , Special Category states
2. Rate of Supply
o To decide the Rate applicable on specific goods and services
o which helps in deciding Rate of GST Tax to be a due date for payment of GST i.e. Taxable event
o Examples
3. Time of Supply
o To decide the date on which GST applicable , which helps in deciding due date for payment of GST i.e. Taxable event
o Examples
4. Place of Supply
o To decide the place , which will determine whether transaction is Intra State or Interstate
o This place is helps in determination of location of receiver, for determination the Rate of GST, whether Intra State or Interstate
o Examples
5. Value of Supply
o This is the Value or amount of goods or services on which GST to be charged i.e. TAXABLE VALUE
o value when Price is determinable
o value when Price is Not determinable , non monetary transaction
o value when Goods supplied / received through Agent
o value when Air travel agent
o value when Life insurance business
o Examples
6. Registration procedure
o Condition wise registration
o Compulsory registration
o Cases where Registration is not required
7. Invoice (types of Invoices)
1) GST Tax Invoice , Bill of Supply , Invoice cum Bill of supply , Invoice
o Who can issue which Invoice
o When can issue under which situation
o What particulars to be mentioned in Invoice
o Sample of Tax Invoice and Bill of Supply
2) Debit Note & Credit Not
o Who can issue
o When can issue
o Examples
8. Input Tax Credit
1) Output tax Vs Input Tax
o Introduction between Output and Input Tax
2) Availment of ITC
o Conditions to take ITC
o Time limit
o Examples
3) Utilization of ITC
o How utilize ITC
o Conditions to ITC use
o Cross utilization possible?
o Examples
4) Reversal of ITC
o Cases where ITC to be allowed and reverse
o How ITC to be reversed – method
o Examples
5) Ineligible ITC
o Cases When 100% ITC is Not available at all with Examples
o Cases where ITC not available even ITC used for Taxable supplies
o Exceptions to Ineligible ITC
9. Composition Scheme
o Who Can Opt for this scheme
o Who Can Not go for this scheme
o Conditions of Composition Scheme
o Benefits under GST Composition Scheme
o Examples
10. Reverse Charge Mechanism - RCM
1) Introduction to RCM
o Methods and Reasons
o Why it is implemented
2) RCM in respect of Goods
o What are those goods on which RCM Applicable
o Tax Treatment
3) RCM in respect of Services
o What are those 17 Services on which RCM Applicable
o Tax Treatment
o Examples
11. Tax Deducted at Source (TDS) & Tax Collected at Source (TCS)
o To whom provisions of TDS and TCS applicable
o Treatment of TDS and TCS
o Examples
12. Difference between RCM & TDS & TCS
o Comparison of Applicability of Reverse charge Mechanism, Tax deducted at source , tax collected at source
o Comparison of Tax Treatment
13. Input Service Distributor
o Introduction to Input Service Distributor
o Conditions to be fulfilled by ISD
o What are the benefits?
o Examples
14. Job Work
o Tax Treatment of Job Work supply
o Conditions to be fulfilled
o Practical aspects under Job Work
o Examples
15. Returns and its Due Dates
o All GST Returns name, to whom to be filed(monthly or quarterly or yearly) and Due date for all types of persons
o Examples
16. New GST Returns to be implemented
o Content
o Difference between old and new GST returns
17. Applications
o Applications to be filed under GST
o Introduction to each application to be made
o When can filed which application form number
18. Export
o Two ways of Export Procedures
o Document to be Furnish
o Tax Treatment of Export
o Particular to be mentioned in the invoice
19. Refund
o Situations where Refund can claim
o Refund in case of Export
o Refund of Unutilized ITC
o Refund in case of Export without payment of Tax
o Documents required for filing of GST Refund (May vary from Cases)
20. E-way Bill
o Who, When, What, Methods, documents required
21. GST Annual Return (GSTR 9) and GST Audit (GSTR9C)
o Applicable
o Due Date
o Penalty provisions
22. Penal and Offence Provisions
1) Late Fees and Interest
o How to be calculated
o Examples
2) Offences
o Types of Offence under GST
o Offence attracting Fiscal Penalties and Prosecutions
o Types of offence