GST Ready Reckoner New

V. S. Datey

GST Ready Reckoner – Budget 2026 Edition is a comprehensive, practice-integrated and litigation-conscious reference manual on India's Goods and Services Tax law. This publication reflects the GST position as amended, incorporating statutory amendments, rate rationalisation measures, procedural developments, and structural shifts introduced in the Budget 2026 framework. This book is not merely a commentary on GST provisions. It is designed as a working professional manual that translates statutory architecture into operational clarity. It bridges the gap between:

The language of the Act and Rules,

The compliance mechanics of the GSTN ecosystem, and

The realities of audit, assessment, and appellate proceedings.

The work integrates legislative provisions, delegated legislation, circulars, clarifications, portal-level procedural changes, and interpretative insights into a structured, applied framework. It enables professionals not only to understand what the law states, but also to determine how it operates in practice, how it impacts transactions, and how positions can be sustained in scrutiny and appeal.

This book is intended for professionals and organisations requiring clarity, precision and defensibility in GST matters, including:

Chartered Accountants, Cost Accountants and Company Secretaries

GST Practitioners and Tax Consultants

Tax Advocates and Litigation Professionals

CFOs, Finance Controllers and In-house Indirect Tax Teams

Compliance Managers and Internal Auditors

Businesses operating across multiple states and sectors

Advanced Students and Trainees seeking a structured, applied GST understanding

The Present Publication is the 28th Edition | Budget 2026, updated till 1st February 2026. It is authored by Mr V.S. Datey, with the following noteworthy features:

[Budget 2026–Aligned Content] Reflects statutory amendments, rate rationalisation, cess-related changes and other developments effective up to 1st February 2026

[End-to-end GST Lifecycle Coverage] Covers levy, classification, valuation, ITC, place/time of supply, compliance, audit, enforcement and appeals

[Sector-specific Chapters] Dedicated treatment of construction, real estate, TDR/FSI, transport, financial services, leasing, software/IPR, telecom, government-related activities, e-commerce and tobacco products

[Comprehensive ITC Framework] Detailed analysis of eligibility, restrictions, reversals, apportionment and ISD mechanism, supported by structured explanatory tools

[Compliance Execution Focus] Covers registration, invoicing, e-way bill, returns, payment mechanisms, TDS/TCS and job work in an operationally practical manner

[Dispute & Litigation Orientation] Includes assessment, audit, refund, demand and recovery, powers of officers, offences, prosecution and multi-level appeals.

[Professional Navigation Tools] Includes Acronyms in GST, a detailed Section Index mapping statutory provisions to paragraph references, and a comprehensive Subject Index

[Integration of Circulars & System Updates] Incorporates portal-level and compliance-system developments relevant to practitioners

The book is organised to reflect the logical flow of GST in practice:

Foundational Framework

Constitutional background of GST

Structure of CGST, SGST/UTGST and IGST

Charge of tax and concept of 'supply'

Determination of Taxability

Classification of goods and services

Valuation of supply

Time of supply (goods and services)

Place of supply (domestic and cross-border)

Input Tax Credit Architecture

Conditions and eligibility

Blocked credits and reversals

ITC in mixed supplies

Input Service Distributor (ISD)

Special Transactions & Sectoral Coverage

Reverse charge mechanism

Exemptions and concessions

Composition scheme

Construction and works contract

Real estate and TDR/FSI

Passenger and goods transport

Financial and leasing services

Software and IPR

Government-related services

E-commerce

Special provisions relating to tobacco products

Compliance & Procedural Framework

Registration under GST

Tax invoice, credit and debit notes

E-way bill mechanism

Payment of tax

GST returns

Audit, Enforcement & Remedies

Assessment and audit

Refund framework

Demands and recovery

Powers of GST officers

Offences, penalties and prosecution

Appeals up to the Supreme Court

The structure mirrors the practical workflow of GST implementation:

Conceptual and Charging Provisions

Tax Determination (Classification, Valuation, Time & Place)

Credit Mechanism and Special Schemes

Sector-Specific Applications

Compliance and Documentation Framework

Audit, Enforcement and Litigation Process

The book is paragraph-numbered and cross-referenced, enabling precise statutory anchoring. The Section Index maps legal provisions directly to the relevant discussion paragraphs, while the Subject Index allows rapid retrieval of specific issues during professional work