© The Institute of Chartered Accountants of India

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This Study Material has been prepared by the faculty of the Board of Studies
(Academic). The objective of the Study Material is to provide teaching material to
the students to enable them to obtain knowledge in the subject. In case students
need any clarification or have any suggestion for further improvement of the
material contained herein, they may write to the Director of Studies.
All care has been taken to provide interpretations and discussions in a manner
useful for the students. However, the Study Material has not been specifically
discussed by the Council of the Institute or any of its committees and the views
expressed herein may not be taken to necessarily represent the views of the
Council or any of its Committees.
Permission of the Institute is essential for reproduction of any portion of this
material.

© THE INSTITUTE OF CHARTERED ACCOUNTANTS OF INDIA

All rights reserved. No part of this book may be reproduced, stored in a retrieval
system, or transmitted, in any form, or by any means, electronic, mechanical,
photocopying, recording, or otherwise, without prior permission, in writing, from the
publisher.

Basic draft of this publication was prepared by CA. Vandana D Nagpal

Edition : June, 2023

Committee/Department : Board of Studies (Academic)

E-mail : bosnoida@[Link]

Website : [Link]

Price : ` /- (For All Modules)

ISBN No. : 978-81-19472-01-7

Published by : The Publication & CDS Directorate on behalf of

The Institute of Chartered Accountants of India,
ICAI Bhawan, Post Box No. 7100,
Indraprastha Marg, New Delhi 110 002 (India)

Printed by :

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CONTENTS

CHAPTER 8 – INPUT TAX CREDIT

Learning Outcomes ................................................................................................. 8.1

Chapter Overview .................................................................................................... 8.2

Contents:

1. Introduction .................................................................................................................. 8.2

2. Relevant Definitions .................................................................................................. 8.5

3. Eligibility and Conditions for taking

Input Tax Credit [Section 16] .................................................................................. 8.9

4. Apportionment of Credit & Blocked

Credits [Section 17] ................................................................................................. 8.28

5. Credit in Special Circumstances [Section 18] ................................................... 8.53

6. How ITC is utilized ................................................................................................... 8.67

Let Us Recapitulate............................................................................................................... 8.86
Test Your Knowledge........................................................................................................…8.97
Answers/Hints ..................................................................................................................... 8.103
Crossword Puzzle ........................................................................................................................... 8.112

CHAPTER9 – REGISTRATION

Learning Outcomes ................................................................................................. 9.1

Chapter Overview .................................................................................................... 9.2

Contents:

1. Introduction............................................................................................................................. .9.2

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2. Relevant Definitions .............................................................................................................. 9.4

3. Concept of taxable person [Section 2(107)] ............................................................... 9.6
4. Persons Liable for Registration [Section 22] ................................................................ 9.7

5. Compulsory Registration in Certain Cases [Section 24] ........................................ 9.18

6. Persons Not Liable for Registration [Section 23] ..................................................... 9.20
7. Procedure for Registration [Sections 25, 26 & 27] .................................................. 9.29

8. Amendment of Registration [Section 28] ................................................................... 9.57

9. Cancellation or Suspension of Registration and Revocation of
Cancellation [Sections 29 & 30]...................................................................................... 9.61
Let Us Recapitulate .......................................................................................................................... 9.78
Test Your Knowledge .................................................................................................................... 9.87
Answers/Hints .................................................................................................................................... 9.89
Rapid Fire Quiz ................................................................................................................................... 9.97
Crossword Puzzle .............................................................................................................................. 9.98

CHAPTER 10 – TAX INVOICE; CREDIT AND DEBIT NOTES.

Learning Outcomes ............................................................................................... 10.1

Chapter Overview .................................................................................................. 10.2

Contents:
1. Introduction............................................................................................................................10.2
2. Relevant Definitions ............................................................................................................ 10.3

3. Tax Invoice [Section 31] ..................................................................................................... 10.5

4. Credit and Debit Notes [Section 34] .......................................................................... 10.51
5. Prohibition of Unauthorized Collection of Tax [Section 32] ............................. 10.57

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6. Amount of Tax to be Indicated in Tax Invoice

and other documents [Section 33] ............................................................................. 10.58
Let Us Recapitulate ....................................................................................................................... 10.58
Test Your Knowledge ................................................................................................................... 10.69
Answers/Hints ................................................................................................................................. 10.72
Rapid Fire Quiz ................................................................................................................................ 10.77
Crossword Puzzle ........................................................................................................................... 10.78

CHAPTER 11 – ACCOUNTS AND RECORDS

Learning Outcomes ................................................................................................ 11.1

Chapter Overview .................................................................................................. 11.2

Contents:

1. Introduction............................................................................................................................ 11.2

2. Relevant definitions ............................................................................................................. 11.3

3. Accounts and other records [Section 35].................................................................... 11.5

4. Period of retention of accounts [Section 36].......................................................... 11.15

Let Us Recapitulate ....................................................................................................................... 11.15

Test Your Knowledge ................................................................................................................... 11.21

Answers/Hints ................................................................................................................................. 11.21

Rapid Fire Quiz ................................................................................................................................ 11.24

Crossword Puzzle ........................................................................................................................... 11.25

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CHAPTER 12 – E-WAY BILL

Learning Outcomes ................................................................................................ 12.1

Chapter Overview .................................................................................................. 12.2

Contents:
1. Introduction............................................................................................................................ 12.2
2. Relevant definitions ............................................................................................................. 12.2
3. E-way Bill [Section 68 read with Relevant CGST RULES, 2017] ...........................12.4
Let Us Recapitulate ....................................................................................................................... 12.26
Test Your Knowledge ................................................................................................................... 12.32
Answers............................................................................................................................................... 12.32
Rapid Fire Quiz ................................................................................................................................ 12.34

Crossword Puzzle ........................................................................................................................... 12.35

CHAPTER 13 – PAYMENT OF TAX

Learning Outcomes ............................................................................................... 13.1

Chapter Overview .................................................................................................. 13.2

Contents:
1. Introduction............................................................................................................................13.2
2. Relevant Definitions ............................................................................................................ 13.4
3. Payment of Tax, Interest, Penalty and Other Amounts [Section 49].................13.7
4. Interest on Delayed Payment of Tax [Section 50]................................................. 13.24

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5. Transfer of input tax credit [section 53 of

CGST Act & section 18 of IGST act]............................................................................ 13.30
Let Us Recapitulate ...................................................................................................................... 13.30
Test Your Knowledge ................................................................................................................... 13.40
Answers/Hints ................................................................................................................................. 13.41
Rapid Fire Quiz ................................................................................................................................ 13.44
Crossword Puzzle ........................................................................................................................... 13.45

CHAPTER 14 – TAX DEDUCTION AT SOURCE AND COLLECTION OF

TAX AT SOURCE

Learning Outcomes ................................................................................................ 14.1

Chapter Overview .................................................................................................. 14.2

Contents:
1. Introduction............................................................................................................................ 14.2
2. Relevant definitions ............................................................................................................. 14.3
3. Tax deduction at source [Section 51 of CGST Act] .................................................. 14.5
4. Collection of tax at source [Section 52 of CGST Act]........................................... 14.12
Let Us Recapitulate ....................................................................................................................... 14.21
Test Your Knowledge ................................................................................................................... 14.27
Answers/Hints ................................................................................................................................. 14.27
Rapid Fire Quiz ................................................................................................................................ 14.29
Crossword Puzzle ........................................................................................................................... 14.30

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CHAPTER 15 – RETURNS

Learning Outcomes ............................................................................................... 15.1

Chapter Overview .................................................................................................. 15.2

Contents:
1. Introduction............................................................................................................................ 15.2
2. Relevant Definitions ............................................................................................................ 15.5
3. Furnishing Details of Outward Supplies
[Section 37 read with rule 59 of CGST Rules] ............................................................ 15.8

4. Communication of Details of Inward Suplies and Input Tax Credit

[Section 38 Read With Rule 60] ................................................................................... 15.20
5. Furnishing of Returns under Section 39 ................................................................... 15.26

6. Due Date for Payment of Tax [Section 39(7)] ………………………… . ……………….15.40

7. Other Returns/ Statements............................................................................................ 15.46
8. Default/Delay in furnishing return [Sections 46 & 47]........................................ 15.51
9. Goods and Services Tax Practitioners [Section 48] .............................................. 15.56
Let Us Recapitulate ....................................................................................................................... 15.61
Test Your Knowledge ................................................................................................................... 15.78

Answers/Hints ................................................................................................................................. 15.79

Rapid Fire Quiz ................................................................................................................................ 15.82
Crossword Puzzle ........................................................................................................................... 15.83

© The Institute of Chartered Accountants of India