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Master Certification In TAX Management (MCTM)

Industry to an individual tax becomes a major expense directly or indirectly which makes managing a tax as a significant role. For which it is an important to understand various exemptions and loopholes in an Indian Tax Act.

Industry to an individual tax becomes a major expense directly or indirectly which makes managing a tax as a significant role. For which it is an important to understand various exemptions and loopholes in an Indian Tax Act.

Overview

Industry to an individual tax becomes a major expense directly or indirectly which makes managing a tax as a significant role. For which it is an important to understand various exemptions and loopholes in an Indian Tax Act.

Income Tax Act Basic

Introduction of Income Tax
Basic Concepts and Definitions
Capital and Revenue Receipts
Basis of Charge and Scope of Total Income
Residential Status and Incidence of Tax

Income Tax E-filing

Online Registration of PAN Computation and Filing of ITR01
Computation and Filing of ITR02 (Income from House Property)
Computation and Filing of ITR02 (Income from Capital Gain and Agriculture)
Computation and Filing of ITR03
Computation and Presumptive Income and Filing of ITR04
Computation and Partnership Firm and Filing of ITR05
Computation and Companies Return and Filing of ITR06

Tax Management, Administrative Procedure

Introduction of Taxation India
Payment of Other than Salary Return 26Q
TDS Return from 26Q
Salary Component with Payroll
TDS Return Form 24Q
Tax Collection at Source
Payment to Non-Resident 27Q
Interest & Penalty
TDS on Property and Rent
Tan (Tax Collection and Deduction Number)
Advance Payment of Tax, TDS/TCS and Interest and Penalties

Payroll & Income Tax

Payroll Accounting and Compliance
Processing and Accounting Employees and Employers PF Contribution
Accounting Employees and Employers ESI Contribution
Process of Employees and Employers ESI Contribution
Professional Tax
Employee Pay head Breakup
Retirement Benefit of Gratuity
Pension Scheme
Leave Salary Encashment
Retrenchment Compensation
Compensation Received At the Time of Voluntary Retirement
Insurance Premium Payable by Employer
Employee’s Contribution towards Staff Welfare Scheme

Indirect Taxation (Goods and Services Tax-GST)

Individual GST Briefing

Introduction of GST
Short Title, Extent and Commencement
State Goods & services Tax
Central goods & Services Tax
Union territory goods & Services Tax
Integrated Goods & Services Tax

Goods and service Tax Network (GSTN)

GSTN Constitution Act
GST Council
Guiding principle of the GST Council
Functions of the GST Council

GST Registration

Person Liable for Registration
Compulsory Registration in certain cases
Procedure for Registration
Deemed registration
Special Provision relating to casual
Taxable person and non-resident taxable person
Amendment & cancelation of Registration

Basic concepts

Scope of Supply under GST Regime
Time of Supply
Value of Supply
Place of Supply
Concept of Reverse Charge Mechanism
Introduction of schedule -I
Introduction of schedule- II
Introduction of schedule -III
Periodicity for disbursement of tax to authority
Auto Drafted Data
Concept if Intra State & Interstate Transaction

Tax Invoice

Introduction of Tax invoice
Prohibition of unauthorised
Collection of Tax
Credit and Debit Notes.
Accounts and Other Records
Period of Retention of Accounts

Input Tax Credit

Introduction of ITC.
Eligibility and Conditions for avail ITC.
Availability of ITC in Special Circumstances.
ITC on Normal Goods and Capital Goods under Job Work.
Manner of distribution of Credit by Input Service Distributor.
ITC under Works Contract.
Apportionment and Blocked ITC.
Method of Reversal of Credits.
Manner of recovery of credit distributed in Excess

GSTR-2B

Invoice Cycle.
Net Availed Input Tax Credit.
Input Tax Credit Not Available.
Verify Invoices, Data & Record

GSTR-2A

Verifying the Purchase Data / Report.

Eway Bill

Concept and Importance of Eway Bill.
Compliance with Bill to & Ship to in Eway Bill.
Advantage and Disadvantage of Ewaybill.
Eway Bill Generation, Validity and Compliance.
Violation and Penalty

GST Portal Login

GSTN & Password.
Dashboard.
GST calendar.
Due dates.
Monthly option.
Quarterly Option.
Furnishing of Returns GSTR- 1 to GSTR-9 & GSTR-9C.

GSTR-1

Furnishing details of outward taxable supplies.
Exempt, Zero, Nil Rated and Non-GST Supplies.
Inward Supplies Liable to Reverse Charge Mechanism.
Supply to Un-registered Dealer.
Supply to Composition Dealer.
Supply to UIN Holder.

GSTR-3B

Tax on Outward Supply & Reverse Charge Inward.
Eligibility of Input Tax Credit.
Input Tax Credit Reversed.
Net Input Tax Credit available.
Ineligible Input Tax Credit.
Submission report.
Any TDS / TCS Credit.
Refund / Payment of Tax.
Any Penalty.
Submission report

Tax Management

Challan Creation.
Payment of Tax.
Liability Ledger.
Credit Ledger.
Cash Ledger

HSN Code

Concept and Importance of HSN Code.
HSN Code.
SAC Code.
Applicability and Eligibility.
Violation and Penalty

Import and Export

Impact of GST.
Basic Concept of Import, Export and Deemed Export.
Concept of High Seas Sale.
Types of Duty.
Exemption of Goods under Any Advance or EPCG Licence in FTP.
Foreign Trade Policy in GST point of view

Import duty

Introduction.
Types of import duty.
Basic Custom Duty.
Countervailing Duty.
Additional custom duty or Special custom duty.
Protective duty.
Anti-dumping duty.
Education cess on custom duty.
Applicability of types of import duties

GST Offline tools

Downloading & Installation.
Self-excel data creation.
Excel file template use.
CSV file format use.
Offline invoices data.
Import file in offline mode.
Masters’ creation.
Summery view.
Creating JSON File.
Upload offline data online.
Verifying online offline data.
Many more…

Levies and Tax Applicability

Introduction of Exempt Supply, Nil Rated Supply, Zero Rated Supply and Non-GST Supply.
Introduction of Levy and Collection of Tax.
Charging Tax and Power to Grant Exemption.
Tax liability on Regular Supply.
Tax Liability on Composite and Mixed Supply.
Tax Liability on Job Work.
Tax Liability on Works Contract.
Tax Liability of RCM under notified Goods & Services.
Tax Liability on Government Supply & TDS Applicability.
Tax Liability on eCommerce Company & TCS Applicability.
Change in rate of tax in respect of supply of goods or services

Introduction of existing laws

Introduction of MMVAT (Value Added Tax).
MVAT Rates.
Applicability of MVAT before GST and after GST.
MVAT on purchase / MVAT on sales.
What is CST (Central Sales Tax)?
CST rates.
Applicability of CST.
Party liable to pay CST.
Entertainment tax
Luxury tax.
Lottery tax.
Entry tax
Electricity Duty
Toll tax
Property tax
Octroi Duty
Local body tax

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