Indirect Tax laws and Practice

An Indirect Tax is collected by one entity in the supply chain (usually a producer or retailer) and paid to the government, but it is passed on to the consumer as part of the purchase price of a good or service. The consumer is ultimately paying the tax by paying more for the product.  

• To gain understanding on various concepts & issues related to Indirect Taxes in the Country 

• Helps in addressing issues of conflicts of the assessee and their respective tax authorities 

• GST i.e., Goods and Service Tax Act is the recent drift faced in indirect taxation system of law, and as such occupies a great portion in syllabus and share of marks 

• Case study analysis stands as an important area to be learnt as final level students are expected have an expert knowledge 
• Various new small concepts of Customs law and Foreign Trade Policy are the other laws that needs a good understanding 

• Make your own notes. Your hand-written notes come to the rescue during last minute revision   
• Study the case laws released for your exam   
• Solve a good number of problems 
• Try covering as much as possible in the syllabus; do not resort to selective study   
• Make sure you are reading all the materials that are applicable to your exam   

• Solve all Mock papers, revision test papers and Questions for practice released by the institute for GST   
• You may also take suggested answers of May and Nov -18 exams to prepare for GST   
• Do NOT ignore Customs Laws and Foreign Trade Policy