Taxation is the system by which a government finances its expenditure by charging compulsory levies on individuals or business entities. These compulsory levies are known as Taxes
Indirect Taxes are taxes levied on goods and services rather than profits or losses. They are collected by an intermediary rather than directly from the person
Why has ICMAI introduced this paper, Indirect Taxation, at the CMA Intermediate level?
In order to make effective business decisions as a CMA, you need to understand the impact of indirect taxes
You need to be able to compute the assessable value of transactions under GST
Understand the procedure and framework of statues related to indirect taxation
What are the topics covered in Indirect Taxation at the CMA Intermediate level?
Canons of Taxation (GST)
What is the best approach to study Indirect Taxation?
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
See how CA Praveen Jain and CA Lijil Lakshman teach this paper Indirect Taxation
To empower every student aspiring to be a CA, CS or CMA to master all subjects in their curriculum and pass their exams at the first attempt with an easy to use tool which they can use to study anytime anywhere