munotes®
Sign in
Home / Syllabus / B.Com. (Banking and Insurance) / TY BBI / Semester 5 / Introduction to Indirect Taxation and GST Framework

B.Com. (Banking and Insurance) Introduction to Indirect Taxation and GST Framework Syllabus - Mumbai University

This is the TY BBI syllabus under NEP 2020, in force from the academic year 2026-27. The University still sets the earlier Choice Based papers alongside it for ATKT candidates, so check which scheme your exam form names before you revise.

Introduction to Indirect Taxation and GST Framework Syllabus.pdf
Major · Semester 5 · TY BBI · 4 credits · 100 marks

Loading syllabus...

Syllabus for Introduction to Indirect Taxation and GST Framework

Major · Semester 5 · TY BBI · 4 credits · 100 marks

Module I: Introduction

  • Unit 1: Basics of Indirect Taxes
  • Meaning and Characteristics – Explains the concept of indirect taxes, their features, and how the tax burden is shifted.
  • Types of Indirect Taxes (Pre-GST) – Describes VAT, Service Tax, Excise Duty, Customs, and other taxes replaced by GST.
  • Need for Tax Reforms – Highlights issues like cascading effect and complexities that led to GST introduction.
  • Constitutional Provisions – Discusses the 101st Constitutional Amendment and distribution of taxation powers.
  • Unit 2: Introduction to GST Framework
  • Concept and Scope of GST – Explains the meaning, objectives, and coverage of GST in India.
  • Dual GST Model – Describes CGST, SGST/UTGST, and IGST and how they operate.
  • GST Council – Covers composition, roles, and decision-making powers of the GST Council.
  • Benefits and Challenges of GST – Examines advantages for businesses and challenges during implementation.

Module II: Levy, Supply & Registration under GST

  • Unit 3: Levy and Collection of GST
  • Supply as the Taxable Event – Defines supply and identifies taxable, exempt, and non-taxable supplies.
  • Charge of GST – Describes applicability of CGST, SGST/UTGST, and IGST based on nature of supply.
  • Composite and Mixed Supplies – Explains classifications affecting GST rate and tax liability.
  • Reverse Charge Mechanism (RCM) – Discusses cases where the recipient pays GST and related compliance.
  • Unit 4: GST Registration
  • Eligibility and Threshold Limits – Highlights turnover limits and categories requiring mandatory registration.
  • Registration Procedure – Explains application steps, documentation, and issue of GSTIN.
  • Cancellation and Revocation – Describes circumstances for cancellation and process of revocation.
  • Special Registrations – Covers casual taxable persons, non-resident taxable persons, and e-commerce operators.

Module III: Input Tax Credit, Documentation & Returns

  • Unit 5: Input Tax Credit (ITC)
  • Eligibility and Conditions – Explains rules for claiming ITC and situations where credit is blocked.
  • Matching, Reversal & Reclaim – Covers mismatch in GSTR filings and conditions for ITC reversal.
  • ITC on Capital Goods & Input Services – Describes treatment of capital goods and services under GST.
  • Cross-utilisation of Credits – Explains set-off rules for CGST, SGST, and IGST liabilities.
  • Unit 6: GST Documentation & Returns
  • Tax Invoice, Debit & Credit Notes – Describes mandatory contents and purpose of each document.
  • GST Returns Filing – Explains GSTR-1, GSTR-3B, and annual return requirements.
  • GST Payment Process – Covers electronic ledgers, challans, and payment modes.
  • Assessment & Audit – Discusses types of assessments and GST audit obligations.

Module IV: Indirect Tax Implications for Banking & Insurance Sector

  • Unit 7: GST on Banking Operations
  • Taxation of Financial Services – Explains GST applicability on ATM services, debit/credit cards, cheque clearance, and loan processing.
  • GST on Service Charges & Fees – Covers account maintenance charges, remittance fees, forex markup, and financial advisory fees.
  • Input Tax Credit for Banks – Discusses restrictions due to exempted services and use of the ISD mechanism.
  • Compliance Requirements – Explains documentation, invoicing, branch-wise registration, and reporting obligations.
  • Unit 8: GST on Insurance Services
  • Taxation of Life, Health & General Insurance – Explains GST rates, inclusions in premium, and special provisions.
  • Valuation of Insurance Premiums – Covers treatment of rider benefits, reinstatement charges, and add-on covers.
  • Input Tax Credit in Insurance Sector – Discusses eligibility and reversal of ITC for insurers providing exempt policies.
  • Practical Applications & Case Studies – Provides examples of GST calculation and compliance in insurance operations.

Reference Books

  • 1 Goods and Services Tax (GST) – Taxmann Publications
  • 2 Indirect Tax Law – V.S. Datey
  • 3 Indirect Taxes – H.C. Mehrotra & Prof. Agarwal
  • 4 GST Manual – R.K. Jain
  • 5 Customs Law & GST – ICAI Study Material

Reproduced from the University of Mumbai syllabus for B.Com. (Banking & Insurance) under NEP 2020, in force from the academic year 2026-27. Wording is as printed in that syllabus. Module numbering is as printed there too.

The complete syllabus

This subject is cut from the University circular for its year. Open a document here if you want the whole thing rather than a single subject.

PDF BCom (Banking & Insurance) Honours Sem VII & VIII (2026-27) NEP NEP 2020 syllabus, in force from 2026-27 Read full PDF Read
PDF BCom (Banking & Insurance) Honours with Research Sem VII & VIII (2026-27) NEP NEP 2020 syllabus, in force from 2026-27 Read full PDF Read
PDF BCOM (BBI) SEM I & II (2024 25) NEP NEP 2020 syllabus, in force from 2024-25 Read full PDF Read
PDF BCom (Banking & Insurance) Sem III & IV (2025-26) NEP NEP 2020 syllabus, in force from 2025-26 Read full PDF Read
PDF BCom (Banking & Insurance) Sem IV Community Engagement Project (2025-26) NEP NEP 2020 syllabus, in force from 2025-26 Read full PDF Read
PDF BCom (Banking & Insurance) Sem V & VI (2026-27) NEP NEP 2020 syllabus, in force from 2026-27 Read full PDF Read
PDF BCom (Banking & Insurance) Sem V & VI Minor (2026-27) NEP NEP 2020 syllabus, in force from 2026-27 Read full PDF Read
PDF BBI V & VI 2018 2019 Earlier Choice Based syllabus, still set for ATKT candidates Read full PDF Read
PDF BBI III & IV 2017 18 Earlier Choice Based syllabus, still set for ATKT candidates Read full PDF Read
Report or request
Done!