Many of us have been wishing for enhancing our knowledge in this new law. At present we only have the Model law. Some of us are waiting for the final Act & Rules to start. In the last couple of weeks in various awareness seminars a common question has been how does one start in this area and more towards being a knowledgeable professional.
Some of us may have some exposure to VAT or Service Tax for whom there may be a need to unlearn a few concepts. Some provisions have been picked form CST, ST , VAT or CE. For one who has practiced in any of these there maybe an advantage for that part of the provision.
For those who have started to read the law recently or not started at all, as well as those who iwsh to get expertise, the suggested way forward could be as under:
- Read a few articles on the overview of GST law and watch 1/2 videos on that.
- Read Model GST Law full – Chapter wise
- Watch Videos in Indirect tax committee of ICAI website – 29 videos. Read with model GST law – Chapter wise. [email protected] (one or two per day as per progress)
- Download all suggestions provided by ICAI to Govt clause wise and read what part is relevant. Then cut paste into bare model GST law as suggestions clearly ( not to be confused with law) .
- Read all material available on [email protected], Linked in. caclub india, gstclub etc ONLY RELEVANT TO THE SUBJECT/ TOPIC you are reading.
- Make notes for each chapter, compare with existing laws as well.
- Read landmark decisions which may be relevant- on chapter wise basis
- Buy a 200-page book only for GST notes. Leave 5 pages after each chapter notes. Leave 4 lines at the end of each page for notes to be made later. [ this book is your property ]
- Ideally if you can have a group discussion with professional near your topic wise you could do wonderfully well.
- For CAs ask your local chapter to immediately conduct a 8 day GST training program (which would become GST Certificate Course after the law is passed.)
- Attend all workshops on GST/ Seminars where experts analyse the law. Do not attend general overview seminars more than once.
- Get to be an accredited GST faculty of the ICAI. See web site.
- Many some more…..
You could also watch on youtube – Empowering Indirect Tax Practice video by me on following links:
Part 1: https://www.youtube.com/watch?v=kK6PT7Kan8E
Part 2: https://www.youtube.com/watch?v=YsVl2O5x5-I
Wish you an empowered learning. Feedback – [email protected]