GST & Customs Law textbook by Taxmann

GST & Customs Law offers an in-depth exploration of India's contemporary indirect taxation system, updated with changes and amendments introduced up to 31st December 2024. Anchored to the National Education Policy (NEP) guidelines, it is a coherent reference on the Goods and Services Tax (GST) and Customs Law, detailing their constitutional origins, operational frameworks, and recent policy shifts. The book thoroughly analyses the evolutionary course of GST since its rollout on 1st July 2017, focusing on the legal updates presented by the 55th GST Council Meeting (e.g., Invoice Management System), as well as amendments introduced by the Finance Act, 2024 and Finance (No. 2) Act, 2024.

Its core objective is to simplify complex legislative provisions and equip readers with the knowledge to grasp, interpret, and practically apply GST and Customs Law in real-world settings.

This book aims to fulfil the requirement of students of undergraduate courses in commerce and management, particularly the following:

• Undergraduate Students of B.Com. (Hons.), B.Com. (Prog.), BBA, BMS, etc.
• University of Delhi (including Non-Collegiate Women's Education Board and School of Open Learning) and various Central/State Universities across India
• Candidates Preparing for Commerce and Management Examinations who require an updated, practice-oriented resource on GST and Customs Law
• Postgraduate & MBA Learners, where thorough knowledge of indirect taxation is essential

The Present Publication is the 12^th Edition | 2025 and amended till 31st December 2024. It is authored by CA. (Dr) K.M. Bansal, with the following noteworthy features:

• [Contemporary Relevance] Incorporates the latest legislative developments, including the Invoice Management System (IMS) mandate and clarifications on rate changes for select commodities
• [Sequential Learning Path] Follows a structured progression—basic concepts, illustrative examples, practice exercises—allowing readers to build upon foundational knowledge before tackling advanced topics
• [Exam-focused] Curated for academic excellence, integrating past university questions (up to Dec. 2024) and discussion points that reflect typical examination patterns and real-world case scenarios
• [Practical Insights] Discusses the reverse charge mechanism, place of supply intricacies, input tax credit conditions, and online GST return filing, ensuring readers gain hands-on familiarity with compliance procedures
• [Dedicated Customs Section] Offers a concise but thorough approach to Customs Law—from types of customs duties and territorial waters to valuation procedures, thereby demystifying this integral part of India's indirect tax regime
• [Student-centric Style] Language is kept clear and analytical, minimising jargon and reinforcing complex points with step-by-step guidance, flowcharts, and relevant examples
• [Compliance Orientation] Reflects how real-time changes—such as notifications, official circulars, and GST Council decisions—translate into day-to-day practices for taxpayers and practitioners
• [Interactive Learning Exercises] Encourages students to refer directly to government portals and official notifications, fostering research-oriented self-study and awareness of real-time updates
• [Alignment with NEP Principles] Each unit incorporates learning outcomes that facilitate comprehension, application, and analysis (C&K, A&A), supporting experiential and skill-based education
• [Feedback-driven Enhancements] This 12^th Edition incorporates insights from past readers and students to ensure clarity, accuracy, and streamlined presentation of intricate legal facets

The contents and the structure of the book are as follows:

• Pre-GST Era and Evolution
• Explains the rationale behind GST's introduction, highlighting limitations of previous indirect taxes and the constitutional amendments required for GST implementation
• GST Framework and Registrations
• Covers the structural composition of CGST, SGST, IGST, and UTGST; details registration thresholds, procedures, and special category states
• Levy, Collection, and Supply
• Examines definitions and scope of "supply," including composite and mixed supplies, while discussing place, time, and value of supply to clarify how tax liability is determined
• Input Tax Credit Mechanism
• Dissects eligibility norms, blocked credits, capital goods treatment, and special conditions such as the reverse charge mechanism, ensuring a solid grip on ITC rules
• Tax Invoicing and Returns
• Demonstrates how to prepare GST invoices, issues related to credit/debit notes, the importance of matching in GSTR-2B, and the filing of returns through GSTR-3B
• Payment of Taxes and e-Way Bills
• Illustrates payment modalities, challan generation, and compliance obligations for transporting goods under the e-Way Bill system
• Customs Law Framework
• Presents key principles of the Customs Act—types of customs duties (basic, countervailing, safeguard), territorial jurisdiction, valuation methods, and baggage exemptions
• Assessment and Penalties
• Summarises the assessment mechanisms under GST and Customs, alongside the provisions for penalties, appeals, and dispute resolution
• Miscellaneous Provisions
• It concludes with a review of transitional rules, anti-profiteering measures, audit procedures, and relevant departmental authorities