WORKSHOP ON GST

On 20th March 2025 the PG Department of Commerce & Management in collaboration with Committee for Competitive Examination organised a practical workshop on GST. The workshop was conducted by ICA Edu Skills Pvt. Ltd., working in partnership with National Skill Developmental Corporation under the Ministry of Skill Development & Entrepreneurship (MSDE), Government of India. The resource persons for the workshop were Mr. GS Multani, Col. (retired), presently Director, ICA Edu Skills Pvt Ltd., Jalandhar, and Ms. Ritika Verma, MBA (Finance, Marketing, and UGC-NET) from ICA Edu Skills Pvt Ltd., Jalandhar. The objective of this event was to give students hands-on experience on GST.

The resource person initiated and explained that GST is a value-added tax (VAT) levied on most goods and services sold for domestic consumption. She also deliberated that GST is paid by consumers, but it is remitted to the government by the businesses selling the goods and services.

The students were given hands on training of practical aspects of GST, ranging from GST Registration to GST Return Filing were also deliberated using Simulation Software as created by ICA. She also explained GST Returns GSTR-1 Return for outward supplies, filed by the 11th of the next month, GSTR-2A Return for inward supplies, auto-populated from GSTR-1, GSTR-3B: Summary return for outward and inward supplies, filed by the 20th of the next month, GSTR-4 Quarterly return for composition taxpayers, filed by the 18th of the month following the quarter, GSTR-5 Return for non-resident taxpayers, filed by the 20th of the next month, GSTR-6 Return for input service distributors, filed by the 13th of the next month, GSTR-7 Return for tax deductors at source (TDS), filed by the 10th of the next month, GSTR- 8 Return for e-commerce operators, filed by the 10th of the next month, GSTR-9 Annual return for all registered taxpayers, filed by December 31st of each year were also vividly explained.

She also explained HSN i.e. Harmonized System of Nomenclature code for classification of goods, which is a 4–6-digit code, with more digits indicating greater specificity, HSN usage mandatory for businesses with a turnover exceeding ₹1.5 crores. SAC i.e. Service Accounting Code for classification of services which is a 6-digit code, with more digits indicating greater specificity, SAC usage mandatory for service providers.

A detailed knowledge of GST Registration Threshold i.e. Mandatory registration for businesses with a turnover exceeding ₹ 40 lakhs (₹ 20 lakhs for special category states) and GST Online registration Process was given. GST Return Filing Frequency i.e., monthly or quarterly, depending on the type of return and GST return filing due dates varying due dates for different types of returns.

Discussing about E-way Bill, she explained Generation i.e. electronic document generated on the GST portal for movement of goods worth more than ₹50,000, E-way Bill Validity period varies from 1-5 days, depending on the distance and E-way Bill Requirements i.e. required for inter-state and intra-state movement of goods.

Total 62 students of B. Com and M. Com and faculty members of PG Department of Commerce & Management attended the session. It was a knowledgeable session that served as an opportunity for students to be updated on the about the practical aspects of GST.