Indirect Tax – GST & Customs for CS Executive (Old & New Syllabus)

GST & Custom Handbook

This master book on GST & Custom for CS Executive & CMA Intermediate by CA Raj K Agrawal Sir is applicable for both Old & New Syllabus. This book will clear all your doubts regarding Goods & Service Tax & Customs.

Frequently Asked Questions (FAQs)-

Q. What is indirect tax and examples?

A. Indirect taxes are taxes that are levied on goods and services, and are ultimately borne by the consumer. They are typically imposed on the manufacturer or supplier of the goods or services, who then passes on the tax to the consumer in the form of a higher price. Indirect taxes are an important source of revenue for governments around the world. Examples of Indirect Tax in India are Goods Service Tax (GST) and Customs. To prepare and understand Indirect Tax for CS Executive Exams, refer this Study at Home’s GST and Custom Book for CS Executive.

Q. What kind of tax is GST?

A. GST (Goods and Services Tax) is an indirect tax that is levied on the supply of goods and services in India. It is a comprehensive, multi-stage, destination-based tax that is levied on value addition at every stage of the production and supply chain, starting from the raw material stage and ending with the consumption stage. So, GST is a single domestic tax law for the entire country, and it has subsumed many central and state level indirect taxes. 

Q. What are the 4 types of GST?

A. Navigating the Goods and Services Tax (GST) in India involves understanding four main types. These are Central GST (CGST) for within-state transactions, State GST (SGST) also for within-state dealings, Integrated GST (IGST) for transactions across states, and Union Territory GST (UTGST) for transactions within a Union Territory. The rates usually vary between 5%, 12%, 18%, 10%, 14%, and 28% depending on the type. While these might seem a bit complex, they’re crucial for grasping India’s tax system. To prepare, break down the topics, focus on real-world examples. Also, consider getting guidance from Study At Home’s classes and study materials. Like this GST and Custom Book for CS Executive. This way, you’ll be well-prepared to tackle the complexities of GST.