Course info

GOODS AND SERVICES TAX:

GST stands for Goods and Services Tax, which is a destination based tax levied on the supply of goods or services or both in India.Goods and Services Tax (“GST’’), has been envisaged as the single biggest tax reform since  Independence. Its aim is to remove tax barriers between the Centre and the States to create a single market. GST has replaced plethora of indirect taxes imposed at various stages of manufacturing, trading like VAT, Entry Tax, CVD & Special CVD, Central Sales Tax, etc.

In this light, Goods &Services Tax paper for MCom students specializing in Advanced Accountancy and Taxation for four credits has been introduced. This course introduces the ‘One Nation One Tax System'.Study of this subject will facilitate students to understand the Place, Time and Value of Supply, availing the Input Tax credit, Procedure for Registering under GST and hands on experience on Return filing.

This course aims to impart all the necessary knowledge to the students so that they can use it in their business/profession. Students will be trained practically as well as theoretically through different techniques.

The implementation of GST will help to create a common national market and reduce the cascading effect of taxes on the costing and pricing of goods and services. It will have a far-reaching impact on almost all the realms of business operations in our country.