A Practical Guide to GST on Textile Industry

by CA Roopa Nayak  CA Shubham Khaitan CA Madhukar N Hiregange (Author)

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About the book The purpose of this book is to enable the taxable person to understand the applicability and impact of GST provisions with respect to the textile industry. The comprehensive and in-depth practical knowledge of the three authors would help in the implementation of the provisions in an easy manner. This book is divided into eight parts as follows:

part 1 – introduction and overview

part 2 – GST impact analysis on relevant sectors: manufacturers and traders, service providers, job workers and other supplies.

Part 3 – conceptual law containing classification, ITC, valuation, place of supply, reverse charge and transitional provisions.

Part 4 – procedural law containing registration, payment, returns, refunds, assessment, Audit, advance ruling, appeals, penalties, demands etc.

Part 5 – import and export containing SEZ supplies and FTP incentives.

Part 6 – disputes mitigation and Department actions, [focussing on prevention of possible disputes & their resolution].

Part 7 – tax planning and professional services.

Part 8 – Miscellaneous containing FAQs and filled forms.

Key features

Detailed and practical analysis of the GST provisions with case laws and checklists pertaining to the textile industry. Covering possible dispute areas along with their resolutions.

Detailed Analysis of the tax planning aspect. Covering FAQs for removal of doubts. Blank as well as filled forms for better understanding and ease of compliance

. Detailed discussion on the role of professionals on how they can help in various GST matters. Incorporating amendments of the Finance Bill, 2020.