Lec 02-A | Ch 01 GST Levy & Supply | New IDT EO Batch 2025 Exams| CA CS CMA Final Paper 5&6 | VB Sir

0:05 well so good morning good afternoon and good evening to all of you friends how are you Everyone I hope you are doing well and I am also very good so let's go today Let's start the session on a positive note You have to talk to me with energy. take a deep breath take a deep breath and every day my session starts with this this is what i have to say whatever happened it was good, tell me whatever happened was good It happened and whatever happens will be very good I am If you want to do something good then this time IDT I am above 80 and you shouldn't even think below that. So come on friends, here we had a just started the introduction which is inter I was at that level, sometimes I asked questions above that There aren't many questions so let's go ok, we wrote down the important part I saw it and read it thoroughly

0:51 So I'll start with a little introductory part, which is I will revise it and then give it to you for discussion Let us move forward and today's GST is very let's read it carefully are you ready yes or no then Just the basic concept of GST is here for you chart chart in front of me and let me tell you that This chart will become your favorite part I have time for just a few days after some days Give it ok and you continue in full flow. You will go and enjoy Chart Base GST to read ok so here son basic Concepts of GST Basic Concept of What did we see in GST? There are total five acts: CGST, SGST UTGST IGST OK GST Compensation cess then later the concept principle of GST is a destination based tax Come on this is destination based tax second What we saw here is pay it base on But thirdly we saw here that

1:38 actually ok it is based on VAT and where The supplier pays the tax upto the recipient is ok the recipient is this burden This GST will be borne on multiple stages it gets collected means if we look at the stages If you decide then manufacturer wholesaler Manufacturer Distributor Bol Seller Retailer is the ultimate consumer at every stage Listen, there will be GST at every stage It would be payable and you would get credit for purchases This will also be called business tax And the last important point here, if we If you look at the entire value chain, as long as the goods If it does not reach the ultimate consumer then it is ok Till then you will have to pay in every B2B transaction Seller will receive credit for purchases Friends, these are some basic principles. off gst ok see dun dun dun dun see again What does Article 366 say? Article 366 says this

2:24 says that whenever in any act Definition of GST including GST If it comes then it is a tax on goods and Services means goods pay and service pay Tax imposed Exempt Alcoholic Liquor for human GST will not be applicable on conjunction consent The constitutional entry says after that What is the source entry in our Constitution of India for Levien Collection of GST then article 246a let's go speak with me article 246a is the source Entry OK gives concurrent power Parliament as well as legislature Simultaneous GST levied on transactions of and if there is interstate trade Parliament will impose GST, ok and here If the central government does the pay collection then article 269 says 69a says that its

3:10 Collection of IGST by the Central Government I will do it and it will be adopted later so Friends, tell me with whom did you do the operation If it is done then the state with and whatever the destination state will be and then import If there is import of goods and services then Let the transaction also be considered interstate Benefits of GST have also been revised Creation of Unified National Market Mitigation of case conning effect elimination of multiple taxes and double taxation ok to promote Making India initiative and also to help increase in overall revenue to the government now yes in this chapter if Any part which is important is worth reading so this one is okay what goodies still The old law has GST plus excise

3:55 if I am there then how can I remember this which you If there is no confusion then if we look first Part which is not even in the perspective of GST At present, there will be two categories in it Petroleum products will come under GST I have not yet been brought in but when GST Council will recommend OK then this GST I will come but not at the moment There are five petroleum products in petroleum come on tell me which products come on let's go on come on you just don't want to listen to me Petroleum crude high has to evolve along with it Speed ​​Diesel Motor Spirit That Is Called Edge Petrol Avian Turbine Fuel and Natural Gas and other alkal liquor for human consumption 366 OK Alkali under clause 12a Liquor for Human Consumption

4:47 If there is petroleum product then Central is excise plus VAT and CST and other If there is a category then state excise is the focus listening to it is state exercise plus vat and CSTA all other products in GST They will come but there are two categories in that too, ok If tobacco and tobacco products are There will be a plus one tax in GST Tell me it will cost extra tax which excise will be charged extra ok Tobacco base central excise will be levied and OPM Indian Hem Narcotics etc. So in that case, GST will definitely be applicable Plus one stack extra will be required, that is State Exercise and State Exercise Pay also You will have to pay here but keep this in mind Only excise in two categories GST If exercise is extra then these two categories speak on it speak quickly ok wait here And CST will not be charged after that GST will be applicable on all goods, one of them

5:33 Special discussion entertainment tax wala to Let us talk about entertainment tax There is an excise entertainment tax here. State government will be entertained If the tax is borne by the state government then it If all that has happened in the situation then GST is imposed, if GST is imposed then it will not be It will be charged by the local body i.e. any municipality. Corporation is not municipal corporation But no municipal corporation imposes it If entertainment tax is levied then that is ok Will be charged separately and for calculation of GST will also be added, then we will see Which taxes have become GST? I have listed all the excise taxes Duty Service Tax Search Charges OK All Some things have been added to all the state taxes Taxes State taxes added Including Vat Sales Tax CST Purchases Tax Entertainment Tax Other Than Local Bodies Luxury Tax Entry Tax Lottery

6:20 Betting galling all such taxes added Which are the biggest taxes in GST? If not done then property tax time duty Electricity Duty Excise Duty On alcohol because it still feels Basic Custom Duty and Petrol Diesel Pay excise duty which is still applicable so let's go Friends, we saw who are the brothers so ok here as far as I can see it is Which goods are subject to GST and excise? and now let's talk about extras Recommendation of GST Council so this is one Please read the concept below GST Council can you recommend ok what all here Which taxes can give recommendation What should be the ageman in all What should be the structure of GST law What should be the portion of IGST What should be the basic thrush hold after that What should be the rates of GST and

7:05 After that a special category of state Which I have given below, special category off state and there is no extra tax here If it has to be implemented then GST Council should be here Friends will recommend special category of State once read the list carefully to Arunachal Pradesh Assam Jammu & Kashmir Kashmir Manipur Meghalaya Mizoram Nagaland Sikkim Tripura Himachal Pradesh OK Special Category of Step and Uttarakhand After that, if we talk about it then here How to Utilize Pay Now IGST Credit If it happens then credit of IGST will be given first Write IGST here first If it is written in IGST then it is a good thing And then CGST and SGST OK in any Write the proportion there in any use proportion CG later CGST OK IGST is about to be exhausted

7:51 Use CGST later in first CGST First click OK in CGST and then IGST in OK then in IGST then in SGST Credit first in SGST or UTGST I'm okay first and then second which is if we If you see, there is more cross credit in IGST of CGST and AGST are not allowed dekhna all important aspects ok intro Ok, we finished our one page topic so this is it dun dun dun done come on now if you come down then below is what we saw so below is what we saw yes here you have said yes to union territory

8:36 You must have made a chart of the Union Territory Here you will find the chart of Union Territory what will happen where the state legislature state Legislature and Jammu and Kashmir this Will be considered as State for GST purpose So inside this Delhi and puddu chari agar If you have intra sale then you can click on it

9:22 There will be no GST on it and CGST and SGST will be applicable dun dun dun dun so let's do this We have seen the part here, what happens now Son, here comes section 91 or section 51 Off CGST & IGST Charging Section We had seen it, so we revised it while writing. Let's take it and revise it while writing This section is divided into three parts OK Levy Collection and Person Liable to Pay You should keep that tax 91 open in the book will understand in three parts in levi Charge value and rate let's make parts like this First make three parts and then in Levi Charge If the rate is ok then who will be charged here So write the charge here intrastate

10:11 CGST and SGST if intrastate will be or intrastate If there is interstate IGST then section 5 If there is IGST Act then it will be intrastate Interstate supplies okay sal sala yes this is an important Word is Supply Off Goods and Services Goods and Services and both goods and services and both are ok is both intrastate and interstate supply of goods and services and what is the value of both

10:56 Now understand that you have supplied it now What does section 91 say if you have made a supply If it is done then its valuation value will be S on S Determined as Determined under section 15 of CGST Act as determined under Section CGST Act OK and what is the rate G then write the rate maximum here Maximum 20 plus 20 i.e. 40 The maximum rate will be Rs 40 on this Right now the rate is this much at 40

11:46 Prescription Its valuation will be from 15 and the rate taken It is Max 40 but we have to pay GST The rates notified on the recommendation of the council We have become those rates in practical life You have to apply but friends you have to remember one thing I tell you that you don't have to learn rates Rates will be given in case of problem I will go after that write the collection here Collection In Such A manor in sach a Manor S Prescription What will happen when your TS comes?

12:31 Discussion further prescrutiny we will read a little further ok so taxable We will see what comes in person This is how we saw it, okay here, after that Goods not subject to levy of GST in Alcoholic Liquor for Humans kanjampatti extra added hai un denatured spirit use in the manufacturing of alcohol it is not applicable to me it is It will be applicable on November 25, I repeat If it is applicable on November 25 then I will apply later I will cover the amendment but for you Let me tell you the information, ok there is alcohol here

13:17 Now with this another category has come and De Natured Extra Neutral Alcohol or which is also called spirit use in the Manufacturing of alcohol on that too GST will not be levied on this through section 91 Now in November I will make some amendments I will cover it okay after that if we Talking about petroleum products, it is ok There are five types of petroleum products Petroleum Crude High Speed ​​Diesel Petrol Natural Gas ATF Aviation Turbine Fuel ok this gst council will come on this day GST will come when it will recommend and at present If GST Council has not recommended it then alcoholic liquor for women Let's revise the consent once again The chart above shows the best Alkali Liquor for If there is human compassion then in such situations GST No Excise Duty Yes Yes Which

14:07 State State Excise Duty VAT Yes CST Yes Petroleum Product No GST Excise duty yes which central central Excise will be imposed VAT yes CST yes tobacco Product Yes OK Excise Duty Central Central excise duty will be levied, no OPM It is Indian, yes GST will be applicable and state There will be exercise and this is no-no and all the others Product only GST no no no all others GST will be applicable on the product and then it will be of India We had seen the definition, if you know about India If you are missing the definition then it is Territory of India States and UTs land is ok then water water ok water to terret water sea bed and all the soil underlies true water continental

14:53 Shelf Exclusive Economical Jan And Other It will be considered as part of maritime public water put the diagram in front of you ok slowly you You will understand that most of the regular mats are I have covered the important points in the charts we have done it and if there is some more extra left then we I will cover it separately, please attach it here hey dun dun dun okay here and the other one is space [ __ ] territory and tetl water and Which union territory is Andaman and Nicobar? Lakshadweep Daman and Diu Dadra and Nagar Haveli Ladakh Chandigarh and Other Territories and the chart below so i told you about UT okay so Let's discuss this till here. we will move this chart forward if the chart If you liked it then please like it ok so yes some lectures i will unlisted you

15:40 youtube1 two lectures when session starts which is later played in recorded mode If you see, that is what is ok here is the lecture So you can see it but yes, you must comment me. Tell me how you liked the chart, done done aa dun dun Come on son you are back to regular mat okay now let me tell you this here But look at the chart after my session I will read you once because when I revise it You will get that region only in the next session You will understand well whatever second thing I have Practice questions of the questions are given I have to try that in the next session ok in the end i did the practice question I have given some of the questions that came in it Repeat some of the questions in it for me

16:26 Those which seem important, I will share them with you Should I discuss it or be critical of it? I will discuss the adjustment with you but First you will try a little with him You will play and then I will make critical adjustments I will discuss with you come to section In Nine we saw the Alcoholic liquor comes on supply has been excluded since Collection will be done in a manner prescribed taxable person okay which we will see next From whom will GST be collected then taxable shall be taken from the person and the valuation shall be based on Section 15 will be okay on valuation as There will be section 15, we have seen its rates Later under section 51 of IGST Act it Interested supply of goods and services pay ok GST applies now see intrastate

17:11 And when is interstate called intrastate? And when is it called interstate? Now a little I would like to tell you about it now Then we will discuss its detailed information in IGST Act Very in the Place of Supply chapter in We will look into the details but just a little bit Discussion will happen here general rule this is ver Location of supplier i.e. LOS ware location of supplier and place of supply of Goods and services in the same State and UT it is treated as intrastate supply any LOS and POS now look here generally three Party happens to be a location of supplier there is a location of recipient and there is a Where the service is provided or the good is supplied Place of supply goes to the government

17:59 It does not matter where the recipient is it's ok no concern with that The government says both LOS and POS If you stay in the same state, stay in the same state then it will be called intra and if Both will remain different in different states If he stays in a State or UT then he will have to pass Inter they are said to be from the Kansan ship LOS and Now brother it is from POS, this is POS Can you fix it with your mind? No You can't fix it in your mind In the IGST Act In the IGST Act here Pay section 10 11 12 and 13 this is for goods is for SOG and this is for SOS For this the supply of goods and services is

18:45 Place of supply to you as per section to be fixed and according to this section The place of supply which comes will be the place of Your supply will be taken and it will be seen if LOS and POS depending on where it is It will be decided, come on, you and I will have some fun Let me explain by taking it as an example So son, if we come here on the invoice If yes then this is the format of tax invoice just I am telling you it is okay in the tax invoice supplier details your supplier details who is selling the goods and your recipient's There are details and if you look here Address of Delivery Place of Supply State

19:30 Codes etc. are given, now understand it here GSTN of the supplier on the supplier Whoever is from Maharashtra will start from 27th The supplier's GST N will be his Later you can understand the name ABC ABC Ltd. Address Pune Maharashtra Pune Maharashtra address is the serial number of the Invoice 001 Date of Invoice 510 X X Whatever we took, details of the recipient Name P QR Address Address Gujarat OK And here GSTN is from Gujarat GSTN will be used to sell the goods to the recipient but let me tell you this based on your knowledge for which the details of the recipient would be yes ok that is not your place of supply Your place of supply is fixed for you

20:18 It has to be done sir, it is a simple matter isn't it The recipient's address will not be the same Friends place of supply you IGST Sections 10, 11, 12 and 13 in the Act. Your POS has to be fixed by applying and that section on the POS s which state will come in on the basis of your intrastate and It will be considered interstate, friends, as far as If seen, understand the place of supply If Maharashtra is fixed then the recipient Why not be from Gujarat but the location is off Supplier and place of supply, these two things are seen and if Maharashtra and another There will also be Maharashtra and it will be the same state then it will be called intrastate supply What we need to look at Location of Supplier & Place of supplier ok so let's do this guys

21:05 I have explained the concept here come in regular notes go okay so if you are in regular notes If you come, then section fow is given here okay in section five okay here on the interstate And a paragraph from Intrastat here given so if you look at this Location of supplier and place of supply There are two important factors to decide this to decide whether it is intra or inter If we look at the interstate supply Interstate supply again location of supplier Consider these two things: end of supply has been done and these two if in different states ho gaya different UTG or State and UT I will mean location of supplier is one Place of supplier is in other state Is it in one state or the other in UT

21:52 If it is in UT or if it is in State and UT It is considered interstate and as we First seen is the import of goods and If services are also considered interstate then Let us look at this simple discussion Regarding Intrastate and Interstate Base on LOS and POS ok rest of details Discussion our ok next place of supply It will be in the IGST Act, we will see that now look ahead here Come on, 92 is ours if you remember 92 If it happens then 92 will be ours after that GST on imported goods is a special I am taking the discussion with you the most First of all, your attention will be drawn to imported goods ok so there are two factors in import We will see two factors in import

22:40 You imported goods You imported goods Imported and you imported the service If you imported goods and services If there is import then in such case GST will be applicable How did the implications come about then the import of If the goods are yours then in such a case Customs appears in the case ACT Customs Act 1962 and if there are imported goods here then You will be charged BCD as the first tax i.e. basic tax Custom duty and second IGST will be charged and IGST does not apply to you under GST Act It is noteworthy that section five states that the IGST Customs act will be applicable on the edge which you will call ACD Additional Customs Duty That Means IGST which is also called ACD is Govern by Customs Act and not by

23:27 GST Law I hope you understood after that If the service is imported then no Doubt is ok, GST will be applicable on it under IGST Act will be applicable here ok and IG In the GST Act it will be considered as interstate and IGST will be levied on this, ok because Customs laws only govern goods, not governments Services so let's talk about this important concept If you understand then the import is That is considered as interstate supply. Integrated tax is applicable on the above and In the Integrated Tax Customs Act name of acd seems highlighted with me keep doing it in the name of acid then it seems like this In addition to basic custom duty, That means BCD will be applied along with ACD It will also look ok and there is certain luxury here

24:13 Demat goods are also subject to GST Compensation Cess Yes if any goods are imported If it is a car etc then the basic IGST is Plus GST compensation cess will also be levied in the name of acd 39 ok but if you have some If you have not understood the concept of ACD then don't worry very ok when I read the customs act Listen to me when I break the Customs Act If I teach, then what is in the Customs Act here But I will cover this so let's go till where If we look at it here, it is okay as far as we can see So in such a situation, okay here if you goods If you import then write it in the diagram Write it down if you import it considered interstate shall be treated as interstate and above it Write down which taxes will be payable to you BCD will come and second IGST in the name

24:58 Of ACD will be charged in the name of ACD will be charged And it will be called interstate if you export If you do then it is related to export, OK here But further I will say section in IGST Act 75 of IGST Act, this is also called interstate It is believed that this is also considered as interstate And IGST is applicable on this also But this IGST which is levied on it The government is ready to give it benefits and what benefits is it ready to give If yes, then the government supplies it at zero rate That is, if one is ready to give zero rate then A new word came into the picture and that new word There is zero rate supply, ok let's move a little further If you discuss then what do you mean by Zero rate supply is ok and what is this zero rate yes ok it is zero rate without duty means you

25:45 You can export without IGST, ok But you have to export on certain conditions If it is required then we will not apply IGST on export If we install then we will supply zero rate here definition has been given o if you want to know about goods Do you export? Export of services Do you do it or are you okay with supplies and services For authorize operation to special economic zone and a special economic unit then if Do you export directly or do you export through SC If you supply the root then it will be given zero rate You will be asked what do you mean by zero rate Zero rate means allowed without payment of GST means even if you export two it is interstate supply but on top of that Government will not impose GST OK wants to promote exports why do you want to promote it because if

26:30 You will export and even by mistake Above all we have imposed GST, so international Whatever is okay in the market, GST should be imposed there prices will increase a lot because of this and Our industry is also in the international market How will she compete brother, she is not competing That's why the government here will be able to do it which is giving concessions to exports and that Concession is now called zero rate supply This is when you export directly He has been given benefits, but this is not something It is given on conditions and all its We will discuss the conditions separately under IGST Act is ok, don't worry, we are still In the beginning, detailed discussion will take place later hey now if you supply sc roots Or if you supply to S Judd unit then it also brought into benefit at zero rate now Let us now give you a pictorial presentation

27:16 Understand it given, this is your SC root attention Listen to this, this is your SC Judd Special Economic Zone: Now what is this Caesar like? zones are created where many Different manufacturers, different companies brands come and the manufacturers there it happens it is only for export The government creates this zone because here It is possible to provide all the infrastructure Government can provide the best infrastructure it can give you all the subsidies and It treats it as if it is a separate island It is like when you go to the mall If there is best infrastructure then it will be like that LG will come in Special Economic Zone or many units will come only for Manufacturing for export and for Provide services for export to these In this situation, the government is special here I hope you are ready to give benefit

28:03 understood what i am saying so In this situation here in this zone number off If there are units then it has a developer it is ok which develops complete ok aces Like Adani and Ambani, who would have created the entire zone it's like in a mall we make a complete mall and inside it there are units Different company units are now legal What does it say if a domestic market So let's understand that this is ABC Limited and ABC Ltd. from its domestic market If supplying then supply is of supply You write goods and services in the diagram go supply of goods and services to s Jude keep this in mind I am writing to SC Judd means Indian Domestic Company if S Judd

28:49 then supplying it to the developer or supplying units So friends this is the TS root, this also Here export is considered as You did not give it outside India but you have SC roots if given to then it is considered as export and you If all the conditions are fulfilled which are applicable for IGST It is given in the Act and we will discuss about the refund If we do it in the chapter also then this is You fulfill all the conditions of export If yes, then it gets zero rate. You get zero rate, which means you get GST there is no need to give but Friends this benefit only supply to SJ What does it mean to the developer and the units Understand the supply Supply by AC Judd OK Supply by S Judd

29:34 If it happens, will GST be levied on it? Yes GST Payable, GST will be levied on it ok there won't be any benefit here ok This 2S Judd has been given benefit now Friends, let me tell you that yes, its What is the logic, one is direct export Either do direct export or else Give it to such people who will export it further As you see in practical life, So reach God directly through meditation by worshiping god or ok you are not reaching god directly because you don't have that much strength ok So serve those who have reached God That sadhu, that saint, that pandit, serve them If you want to reach god then do it here If you can't do a direct export If yes then you have supplied it to S JD also If this is done then it will be considered as export which will further

30:21 We will export it, I hope you understood this If it happens then this was the concept regarding to sc jud and in this way okay we did this This is the basic charging section I have completed the section here, let's go ok here But this discussion would have completed us Now let's come to this chapter on the next topic and that is the concept of Supply friends you have done this on inner level I have already read it, but it is a little at the final level And if you study at the advanced level then friends If you are bored then let's study the concept of supply It is not happening but what should I do? I have to study it properly, I am not doing any research are you awake you useless fellow look here come a lion Let me tell you then let's start this chapter, ok

31:06 If you want to read then what should I do, then love is a poem love is a problem what should one do love is a trouble, what can one do with the heart I need to do what I can but I need my heart What should we do, we want to avoid this Listen, listen, we want to avoid this But she is very beautiful, what should I do? If you want to study, what should you do? Come here what are we going to see in the chapter very We will see all the definitions in this chapter section two key side by side main two section The ones to watch are section seven supply and eight

31:52 ok composite and mix supply a little if you gets on the chart yes, if you get on the chart then that yes in situation which our charging section what does the one who is creating the levy say on whom the levy will fall then his How will the collection happen and who will pay the tax here Our whole concept of GST originates from this Our GST Ganga originates from Section 9 Who is the levy on and what will be the value At what rate will its rate be calculated How will the collection happen and who will pay the tax see what happens slowly what to do Now let's see what the law says here. The law says that whatever Levi is

32:38 Intrastate or interstate supplies are listen the levy which is intrastate and If there is interstate supply then a little discussion let's do what do you mean by supply okay section seven composite supply and what son mix supply so come here let's go here to start the discussion on pay supply First let us look at some important definitions there is no line one definition of person You have to do the same as you did in income tax I have studied from intermediate level and am in final level I have also read it and whenever I have read it in GST If I use the word person in GST then An Individual HUF Company Firm LLP AOP BOI Any Established Corporate Body Corporate Registered Co-operative Society Local authority, even government is considered a person

33:25 Society Trust and Avery Artificial Judicious Person Not Falling with in the any of the above then you will get this You don't have to learn the definition in one line It has to be understood that if any person is guilty as per the legal law Will it be a real person or some artificial one If he is a judiciary then he will be considered a person and He will have to pay GST, okay so here Also keep in mind that when you AOP BOI If you take it, is it incorporated or not? I will also have to take it and is it in India or Even if you are outside India, you can find that person Every person should be treated as if he is from India or outside India if he is in India If he is making the supply then he shall be considered as a person Every artificial judicial person will be considered And you will have to pay more GST than this

34:11 I don't need to remember, just do it in person something gets included after that Next if you are interested in the concept If you come here then taxable person yes this What is a taxable person? A person is Registered and liable to be registered under Section 22 or section 24 of the CGST Let's act this out a little better in the chart Let us understand this a little better in the OK chart If you understand then come to the chart book and the chart book I have seen the brother person here, okay I saw the person but what do you mean by that Taxable person Taxable person means Is it okay if I am a taxable person under section 217 Let me write down what we just read OK Write Taxable Person Includes here

35:00 includes a I am a person Is a person means the same thing which we have just defined We had read the definition of a person what did you read son that brother is from individual but this artificial judicial person person who is here make to parts who is registered likhho who is Registered and Liable to Registered Liable To Registered Liable to Registered under Section 22 and section 24 ok now taxable person Meaning, the one who has taken registration,

35:47 I am registered ok or liable to it has been registered it has been registered meaning what happens after thrush hold after thrush hold okay after thrush taken Registration taken registration or voluntary He took voluntary registration for registration If you have taken voluntary registration then After Thrush or Voluntary Registration Take Now look, let me tell you about GST when does GST arrive, okay your levy is done You supplied intrastate and supplied interstate but friends Interstate Intrastate Apply Here Who has to pay tax even after doing this Tax has to be paid by the person who

36:33 Taxable person means GST tax it doesn't come to only person, okay when someone person will become a taxable person ok then GST tax will come now it will be taxable When does a person become a person? Okay, when he registers takes it or takes voluntary registration takes it or is liable to be registered This means that section 22 is for if you If you remember a little bit then register There is a section 22 in the chapter that you can get registered g thrush hold cross After you have and your thrush holds for How much is the registration amount 10 lakh 20 lakh and 40 Lakh ok in some cases 10 20 and 40 like this there are different situations and then you If you have to register then do it like this In this situation friends here it means this it happened that if someone's threshhole did not cross If it does happen then it is not even registered and

37:19 not liable to be registered is not liable to If it is registered then he supplied even two But he need not pay GST because GST will be paid by the same person who Now there will be many such taxable persons people who have crossed the threshold diya ok 10 20 or 40 lakhs crossed But if you haven't registered yet then The government tells us not to do this. That is only for taxable persons For which I will use the word TP from now on. Only those people will come who are taxable persons Those people who are registered are also taxable persons Those who will be required to pay GST will come in responsibility will be whatever thrush hole cross Have been under session 22 till now has not taken registration and is liable to Are those people who are registered also covered or not? Section 24 which provides for compulsory registration

38:05 Those people who come will also be covered, so this tha regarding to which is registered or It is liable to be registered so I am telling you this Let me tell you there is no MPN of Rs 20 lakh in GST whatever people might have taught you that 20 The MPN of lakh is wrong in GST There is a non registration of 20 lakhs here The limit is ok 10 20 and 40 means There is no need to register if If you do not need it then you are not a taxable person And if you are not a taxable person then you will have to pay GST there is no need to give but once you Registered you become TP then someone will tell you No GST is payable up to the basic limit of Rs 20 lakh it doesn't happen ok so here If registration is based GST liability once you register you are liable to pay GST on each and every pay hens fourth ok you will have to pay the full GST ok and when

38:51 You will have to pay till the registration is complete or Then you took voluntary registration Many people take voluntary registration Because they have to take ITC of Rs 20 lakh only if the thrush hold of If you are registering then if you If you have taken voluntary registration then you can get TP and if you become a TP then you GST will have to be taken even after two turns of bill 20 lakhs is the basic age limit here per year no ok you have been given a thrush hold once you are liable to register or or voluntarily registered you become tp and if You become TP then an each and every supply On their value you are liable to pay GST okay so this was regarding the definition of Taxable person now for your knowledge I Let me tell you who are the taxable persons People come forward, we will discuss it further

39:38 OK There are three charges in GST, one Write the forward charge here Forward charge forward charge ok one number pe the second one is reverse charge reverse charge which we will look into next okay And the third is rev charge under section 93 and 94 and then the third is EO Electronic commerce operator o means Electronic Commerce Operators under Sections 95 These three people generally pay tax on GST Who are the tax payers in forward charge If it happens then write it in forward charge The supplier pays the tax Liable to Pay Tax Liable to Pay Tax to the Government

40:24 Responsibility to pay tax to the government Supplier key is OK Next recipient is OK Who pays tax in river charge then river Recipient of Charge is Labeled to Pay tax to pay tax to the government okay and o in o what is called third party you Just write it down, I will teach you further, third If it is called a party then this is liable Liable to Pay Tax is given by these three taxable persons generally who are responsible for paying tax comes ok forward charge reverse charge And ACO payment which we have in section nine If you read further, this is how we did Person I also took the definition in the chart which I Explained here as well as taxable

41:10 We have also taken the definition of a person Distinguishing Person We will read a little further now no we will read a little further what is DDP If this happens then this person is taxable person and deem distinguishing person which we further If you read it, it will tell you so let's go here But last time we saw this definition, you came back come to regular mat Okay, so we have done this for a taxable person. Definition is over kiya ok next we will get registered Person is a person who is registered under section 25 which according to section 25 whoever I have taken registration in form RG 01 will be considered as a registered person yes this one Just highlight and keep detailed discussion

41:56 Chapter registration will have it but doesn't Include a person having a unique identity on the number who has u ia ok unique Identity number is that of the registered person Detailed discussion will not be considered, we will proceed further Let's do it next come to the supplier By the way this is the supplier's definition So in the context of further actionable claims I will explain it but try to understand it a little Here is the basic definition of a supplier What is supplier meaning goods and services Who is considered the supplier of who will be considered a supplier

42:41 will supply goods and services to a The person who is supplying is the supplier it will be considered ok that will be considered a supply sir Why are you reading the definition, read its revision further Aayega Plus OK if agent supplies on supplier's behavior The agent is acting on the supplier's behavior if he is supplying then so is the agent who He is supplying it on the behalf of the supplier also covered in the definition of supplier Agent's transactions will be recorded here We will see in paragraph thi in Schedule One and If you look in great detail then you will see such situations As far as this basic definition is concerned, that the person himself is supplying it or his agent you will scribble then your you

43:29 You will remain attentive and you will definitely benefit from it. you will get it so keep scribbling later So everything is given in the notes, everything is given in the chart Something to read, scribble on Your grasping will increase a lot in this We saw it but added a provision to it has gone like anyone online now see what As I teach further, I would say that actionable Look at the claim, it is an actionable claim Actionable Brought to Clemm This has been brought into the definition of goods and Some actionable claims Some actionable claims Like Online Money Gaming Casino Online Money Gaming ok or casino etc whatever it is here You can play online money through Pay Jo Pap

44:15 Gaming etc., GST is there on it Its discussion has been done further in detail But I will tell you the definition of supplier. I would like to understand that there is an internet connection where money can be earned Gaming is going on Mahadev or any other Pap Take it, you must know that I know this much no i don't play ok so this app through you are playing online money gaming ok and it's making you happy and whatever giving consideration if you win If you are giving consideration then this app is for you Who is this supplier, brother, which service So this is what online money gaming is giving It may be its own app or it may be it has a platform ok its Be it platform, meaning different apps are available on it

45:02 companies have registered their games and If he is providing the platform then who is the supplier So the supplier is the one who is available online here Money Gaming Casino Horse Racing That Lasted is he running it himself or his platform Pay ok if someone is on this platform Do you want to hear if anyone is on this platform? then the platform that is running it would be considered as supplier ok so this regarding If it is related to online money game then this Look at the definition, what does it say? I am a person Organize and Arrange Directly and Indirectly a Specified Actionable Claim So let's take an example now: online money Gaming Specific Actionable Claim including a person who owns or Operate and Manage Digital Electronics Platform for Sach Supply Deemed to be a let the supplier of actionable claim if it

45:49 He won't own it but he will use it on his app If it is running on pay then the one who is running on the app The person who has the app will be considered as the supplier application is there he will be considered as supplier ok Online money gaming may be someone else's It belongs to the company but who is running it? If he is the platform owner then he is the supplier It will be considered weather actionable after that Claims are supplied by him and through him and Consideration in Money and Money Worth Including digital asset digital asset means bitcoin okay The consideration you have received is Direct Money or any digital asset If yes then here in online money gaming will be considered and this supplier will be given all Provision became applicable in simple line you don't have to learn, just write ok no need to learn and don't go behind this simple line

46:35 me who is the supplier in case of some Actionable Claim Claim Like Casino Like Online Money giving which will be discussed further Here at Casino and Online Money Gaming Related friends let me tell you that the self-driving or not self-driving It might be there but it is running on some platform So that platform which is digital The app is providing it here We will consider it as our supplier and discuss the rest of the details. we will see further ok After that let's go to the next definition Recipient is an important definition why is the recipient important sir This definition is for the recipient because it Definition of the recipient of the river charge It is very useful in my case, it is useful in ageman

47:21 If it is useful in the Place of Supply chapter I have given this definition with some surprise look here okay who is the recipient of the goods and Services where a consideration is payable for supply of goods the person who pays that Consideration where no consideration is payable for goods and no consideration for services to To whom the delivered maid was made available or Person to whom services are rendered is a recipient It will be considered OK and his agent too would be considered a recipient I would like us to If you write it down in the chart here, you will see come here to the chart book and see the chart We will draw this definition in the book if you Next, if you come to this then you will see a blank space here If you get space then come with me quickly I have to write the definition of the recipient and I

48:07 explain this also I will do it come here for the recipient There are two parts in the definition do two parts a and b Do it fast with me bee has more space keep because below B there are two more sub parts will come so keep more space for B Write OK Ver Sup SOG SOG means Supply of Goods and sos supply of services is for consideration is For Consideration means if you supplied If there is consideration in money then write it down

48:55 Word Arrow who is the recipient then write Recipient equals to person who is Liable who is liable to pay that consideration While writing the complete no to pay that consideration and You have to keep your speed with me You have to keep speed with it, what does that mean Let me tell you that here you should understand supplied and you have consideration in money or if there is any consideration in kind then Whoever gives the consideration will be considered as the supplier let's take one example ok my face to A trainee from an OK company came in the face batch and he does my GST face to face batch He is amazing that his name is Arjun

49:42 and he has come through the company and that company who is the trainee ok so now here I am That Arjun is not paying me The company is making the payment so if I If the company is giving consideration then who is my Recipient and I will also give the name of the company if I am here then who is my recipient is he Arjun shall be treated as the recipient or the company If you will be considered a recipient then friends I will tell you Let me tell you and the company will be considered the recipient, ok The one who is giving the consideration is the recipient and not ok to whom you are giving the goods or Are you providing service or not who should give consideration has been and shall be treated as the recipient but write the second part Ver SOG and SOS Supply of Goods and

50:27 supply of services is without without consideration Consideration: Yes, there are some such things in GST There are some such transactions in GST This is a transaction that does not require consideration Even if it happens, it is still considered as supply, we are moving ahead We will see it in schedule one, okay schedule one Stock transfer etc. is not even a consideration Even if it happens, it is considered as supply, then there pe who is the recipient so here pe two parts do it here do two parts in this ok here one minute son b here I don't want it, scratch it from here BB and c here write the first part if One will be your SOG and the other will be your SOS

51:12 If you have SOG then write it down Recipient Recipient me a little below There will be a space of two lines so write it here Recipient equal to a person Person to Hum Person To Hmm Goods R Write delivered quickly, goods are delivered and made Available Made available And Position Position and use is given position and use is given what does it mean

52:01 Then who is the recipient if there is no consideration? if yes then the recipient will be the person whom we Goods delivered or made available given to or to whom the position is given available or Giving possession means when the goods are available Do you sell on this basis? Let's take an example What does it mean to sell on age is variation basis What does it mean that you should understand what I have I gave my room to someone on the run, brother there is faculty and give faculty hall run pay I gave it, yes, but now the benches that were in it The projector was okay so I said look brother I will give you the room on the run but the benches in it And you'll have to buy a projector. And he bought the room, it is exactly like that Camera, benches, projector, everything is the same I have It is not that I delivered it with a mouth not that he is the same age is different basis

52:46 If it is sold then it is on age is varies basis many times furniture office furniture sale it happens on various basis so here On the one to whom you gave the position and the one whom you used gave it to be done or made available and shall be deemed to be the recipient thereafter in the service Who is the recipient of the service? Write this who is the recipient Recipient Equals to Recipient Equals Two Person to Person home to home service is Rendered service is rendered to which service given that person will be considered And after closing it here Write to Recipient Also Includes

53:35 also includes Agent his agent shall also be deemed to be the recipient Agent Acting on the Biff Off On The Biff off on the biff of recipient If there is an agent on behalf of the recipient He covered the recipient's definition if it goes then we have seen this regarding here pay definition of what son recipient come on So come back here to the regular mat. We looked at the definition of recipient and found a Special reference here, do you read any law? If the recipient has a special reference If he had given it, he would have written something sometimes

54:22 It is written in the provision that the recipient should if any such special difference is considered If it happens that he will be considered as the recipient Then consider him as the recipient further I will teach you okay so let's see this regarding to Recipient is ok so after that let's move on to some terms which are Here we will discuss taxable supplies Thereafter the non-taxable supply and its later here exam supply okay this is something important terms which we have in a chart If you discuss in form then go today I will tell you more in the chart as I write more. I will explain, keep writing with me, ok You will get more experience in small handwriting don't want to play ok in small handwriting If you want to make a chart then let's type

55:09 The first two types of supply Part 4: Effective Utilization of Space do ok and small handwriting sare It's okay to use in charts so look son You will feel that hey friend what am I writing I am saying that if Sir gives me a readymade one, it will do. But you won't regret it when we're done As you write the charts, your grip will improve If you go then you will definitely remember me, okay This in between will help you a lot Writing is about absorbing the concepts And your attention would have been drawn to some critical points. and to tell you the truth, in my regular batch The kids have given very good feedback You will definitely get it here, I guarantee you so let's go okay types of supply so supply

55:54 here two or one is taxable If you want to write supply section then write section Dena otherwise required is not taxable supply and the other is non taxable supplies non taxable supply is ok so firstly the first thing is non Write down the taxable supplies and pay at least Rs. Keeping less space means non taxable supply what does it mean write it here ok SOG and SOS SOG and SOS CH IZ CH is not leviable to tax is not leviable to Tax means on which GST is not levied which is not in the context of GST

56:39 Tell me which are those goods which are not covered under GST don't come in the review, tell me which ones If it is goods then there are six such categories If you remember, petroleum products and alcoholic liquor for human consumption no words are those natural spirits etc. Here I would like to tell you that for example If there is no levy in the form of You can write petroleum. Product Petroleum K Five Products Five products of petroleum and second Alcoholic Liquor Alkal Liquor for Human Consumption

57:26 If I use it then this is the same as in non taxable supply imagine the goods imagine the goods Ok now in non taxable supplies Taxable supplies come under taxable What is taxable in supply? SOG in supply and SOS OK Exam Me Short Form Mat write full write ok short form only For our charts, SOG and SOCH are This is feasible to g On which levy is liability to GST Here we call it taxable supply. And if you remember that basic chart don't you remember that let me just tell you I want to leave this category and give this

58:12 In the chart below this is the first category, leaving out the GST is applicable on all other goods and services There is GST on all other goods and services Yes, it comes in addition to tobacco products to GST only excise comes but everything else When GST comes on goods and services, they We say taxable supply is ok which there's levy up but friends a little if we Take it and make a taxable supply here Category Celebrate category of taxable supplies So there are two titles in this, okay, different taxable Category of supplies subject to levy What will be the celebration ok the first chargeable Supply Chargeable Supply Second, here the zero rate

59:04 Third Nil Rate of Supply Supply and fourth exam supply exam supply yes come with me Line up these four supplies which are considered taxable Let's go, ok, its category is chargeable supply let's say chargeable supply what does it mean keep writing with me SOG or SOS E Subject to is subject to payment of GST Subject to Payment of GST Whose GST we have to pay is subject to We call it payment of GST Chargeable supply Zero rate supply means

59:49 is this supply not an exam is this supply Write the benefits of export given to SOG or SOS Ch is it chargeable to GST chargeable to GST means on top of that GST will come Butt Butt the government has the government Given Given Special Benefits Special Exports in Benefits Bracket Incentive Export

1:00:37 Incentives not a direct Export If you export directly yes and supply to as jud supply to as jud Meaning the government says look brother okay here But if you sell it in India then we will charge GST We will install it but yes you will do good export It will work if you listen carefully Export If you do a good job then we will tell you OK export tax will give benefit from GST So we will give you benefit without tax Let us export and then tell us further If you give ITC refund also then this will happen

1:01:23 He is not in that situation, he is chargeable but you are doing a good job so Government is ready to give you incentives That is why it is called zero rate. rate is not a nil rate zero rate is Export incentives, say zero with me rate e export incentive done done done done Let's go after that Neil rate ok nil rate if you see Write SOG and sos s and sos ch is subject to subject To Neil rate it is subject to nil

1:02:10 rate in gst Tariff in GST Tariff is subject to nil rate in GST Tariff okay now this nil rate we have written and exam supplies too Write two exam supplies also then I will do both Let me tell you the difference between SOG and SOS SOG and SS is it chargeable to GST chargeable to GST at Normal rate at normal Rhett Butt

1:02:56 Two Promote But To Promote Socio Economics If the objective goes this way then let it go Sosho Economic Objective Objective The government has temporarily Ascented amed truth Supply Emte Sach Supply By Notifications supplied by notification ok notification through that exam It was done now understand a little that that supply

1:03:43 There is a rate but it is available by notification The exam has been done, let me tell you about it a bit and explains it better yes ok friends one gst tariff I get notifications here so I can tries to explain hm Notification No. 11 2017 Central Now what is your tax rate, so they What have you done when you ever heard about GST? If you see the rate then this is how your table looks When it comes to goods or services If you take ok construction service in this then Such rates were given here in front of the construction If it is available then look here it is chargeable Supply means the rates mentioned next to it 9 of GST on 9 of SGST and that

1:04:29 You also have to pay if it is for goods Do you supply or supply a service If yes and you have to give it too then we call it Chargeable supply is now zero rate supply What do you mean by that, understand that this is your service, okay? Understand that someone is your services and he Consider your services as a restaurant There is a catering service, its rate is 6, listen Its % is but if this service you Do you export or even two? yes even give it, this is the rate of service here is given in the tariff but if you If you export then the government will give it zero will do it and without payment top ok without You can export by paying GST here

1:05:15 So friends here is one thing for you Let me tell you that the rate is given here if You supply goods and services in India If you do, then the government charges zero GST Therefore it gives export incentives in the rates Zero rate does not mean nil, zero rate means rate is but it is an export Understand what is incentive nil rate goods and services provided and Here, instead of rate, nil is written when If you look at the tariff then it is written blue in many places If it happened then when Neil rated it there If it is self nil then we call it nil rate We call this nil rate supply okay and what is called exam supply then what is exam listen carefully in the supply exam supply I have given the rate here, it is nine

1:06:01 The rate is not mentioned but The government has given its okay by issuing notification The notification said that here this is something shall remain the agent for the period until Government will not withdraw the notification This exam will be held, no tax has been paid for it if you go then what is the difference between neil Rate and Exam Rate in Nil Rate only If nil is given then rate in exam rate Indigo is not given, the rate is there but the government has marked it as accepted by notification To promote the socio-economic objective Hope you have understood, son, this is what This is the difference, we saw here that zero Rate Supply Nil Rate Supply and Exam supply now look son here okay this is nil Rate after that this exam

1:06:47 and these three are non-taxable Enter rate and non taxable amount here Write OK Write an important note in the chart Write an important note in the chart for GST Purpose for GST purpose it is ok this Three supply all these three Supplies Are Treated treated as exam supplied and tested as exam Supply These three supplies are eligible for GST purposes If the exam supply is considered then a little Friends, understand here that OK type of supply

1:07:34 So here in type of supply there is a taxable and non taxable whenever I am non taxable If I say then petroleum is not a levy product and alcoholic liquor a little Try to understand the one on whom the levy is no, okay and here I'll tell you this Let me tell you that yes, here it is taxable and non Taxable on which there is no levy, ok this These three supplies are non- These three supplies are taxable at nil rate and export There is a levy on it, listen to the blue rate and exam There is levy on it but the rate is nil or equal But for GST purposes, for GST Whenever I supply exam for the purpose If I use the word then all three are there in exam supply Supplies come in Lee Exam Neel Rate and Non Taxable supplies come okay basically

1:08:22 There is a difference between the two, but whenever in GST If the word exam supply is used further, then it All three supplies will come, let's come to the regular mat okay let's go to regular mat so Look at exam supplies which are taxable Taxable as stated in the supplies Highlight supplies that are subject to levy Pay tax on which levy is non taxable what is said in the supply on which There is no levy, listen to the one on whom there is levy No, it is called non-taxable supply And after that who was called exam supply If it is gone then in all three supplies There is revenue but for GST purpose under Section 247 Whenever the exam supply Reference will come like if you have exam in future If you supply then you will not be able to take ITC If your supply is nil rate lei age or

1:09:09 If it is non taxable then you cannot take ITC If you get all three supplies in exam supply If you want to consider then this is our All the definitions end here, let's go now We will continue this discussion further Friends yes now further our section here starts and that is the meaning and scope of Supply Meaning and Scope of Supply It has some words in it first and those words are of goods and services then its basic First we will see the meaning later And we will analyse it further but we will give the basic meaning Let's see if you come a little further on the next pages on the next pages I here

1:09:57 Yes, the definition of goods has been given earlier Let us discuss the definition now, then I If I analyse further, I will define the goods and given the definition of service then let's This is the definition chart of goods and services Let's look at the form of goods in GST When will it be called and when will the service be called will go come here goods and On the definition of services If you look at the definition of goods and services do you come here But here But let's write what are the goods in section 252 It is said that it is written down

1:10:43 Means and services also write here Means keep writing with me Annie Kind Any Kind off moveable Property Any Kind of Movable Property this service will be considered sorry Goods will be considered as goods i.e. any kind of What is movable property service? yaane anything anything yes anything this is a very important word anything another day goods other than goods okay this definition is big

1:11:32 It's funny, goods means movable property The one who has worth is ok any any movable shall be called property and goods and the services The definition is so open ended, okay service The definition of is so open-ended that anything listen anything other than goods that serve him it will be considered okay so here if your

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