Overview

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Learn how GST valuation and Input Tax Credit (ITC) work in real business transactions and develop practical skills to calculate GST liability accurately. This course provides a comprehensive understanding of GST value of supply principles, valuation rules, ITC mechanisms, and compliance requirements used in professional accounting and taxation environments. The course begins with the foundations of value of supply under GST, helping learners understand how transaction value is determined and how taxes, duties, discounts, and related-party transactions affect taxable value. Practical examples simplify complex valuation concepts and build a strong foundation for GST calculations. As the course progresses, learners explore advanced valuation rules applied when transaction value cannot be used directly. The course also introduces Input Tax Credit (ITC), explaining how GST eliminates cascading taxes through credit utilization mechanisms and value addition principles. You’ll further learn ITC eligibility conditions, compliance requirements, documentation procedures, instalment-based credit claims, reversals, and practical GST problem-solving techniques. Advanced sections cover capital goods, works contracts, construction services, and sector-specific ITC scenarios. What makes this course unique is its structured progression from valuation fundamentals to advanced ITC applications combined with practical illustrations and compliance-focused learning. By the end of the course, learners will confidently analyze GST transactions, apply ITC correctly, ensure compliance accuracy, and optimize GST-related decision-making in professional and business settings.

Syllabus

Foundations of Value of Supply

This module introduces the fundamental concept of value of supply under GST, which forms the basis for tax calculation. Learners will explore how transaction value is determined, understand the role of related parties, and identify key inclusions and exclusions such as taxes, duties, and discounts. Through practical examples, this module builds a strong conceptual foundation necessary for accurate valuation in GST.

Advanced Valuation Rules in GST

This module focuses on advanced valuation principles applied when transaction value cannot be reliably used. Learners will examine valuation rules, understand open market value, and analyze transactions involving related or distinct persons. The module also bridges valuation concepts with the transition to Input Tax Credit, ensuring learners grasp the complete GST computation flow.

Fundamentals of Input Tax Credit (ITC)

This module introduces the core concept of Input Tax Credit (ITC) and its role in eliminating the cascading effect of taxes. Learners will explore value addition, credit utilization mechanisms, and the legal framework governing ITC. It also covers inputs, raw materials, and capital goods, providing a strong base for understanding how ITC operates within GST.

Conditions, Compliance & ITC Application

This module covers the eligibility criteria, conditions, and compliance requirements for claiming ITC. Learners will understand documentation requirements, apply ITC rules through problem-solving, and analyze scenarios involving instalments and credit reversals. The module emphasizes practical application and compliance accuracy in GST.

Special ITC Cases & Advanced Applications

This module explores advanced ITC applications, including capital goods, sector-specific rules, and complex GST scenarios such as works contracts and construction services. Learners will also review the complete ITC framework and understand proper credit claiming procedures, ensuring a comprehensive grasp of advanced GST practices.