BY MANISH MATTA
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A WORD ABOUT STUDY MATERIAL
In the scheme of our national economy, ‘Indirect Taxes’ have gained considerable importance. In the fiscal legislations, augmented weightage has been given on the levy of indirect taxes as it constitutes a major source of revenue. Tax management and planning, especially in the corporate sector, necessarily entails a great degree of indirect taxes management and chartered accountants are expected to advise clients and organisations in this area of tax management. Accordingly, adequate emphasis has been given in the chartered accountancy curriculum on the subject. This Study Material covers the syllabus for that paper and includes laws relating to central excise, customs, service tax and VAT.
The Study Material has been divided into three sections:-
Section A covers central excise law
Section B deals with service tax and VAT and
Section C deals with customs law
The subject matter of all the sections is based on the law as amended by the Finance Act, 2010. Though the law is vast, we have tried to make the study material simple yet comprehensive. The chapters have been organised in a logical sequence so as to facilitate easy understanding of the law. Another helpful feature in this study material is the addition of self-examination questions at the end of every chapter which will be useful to test the understanding of the students with regard to various provisions in the chapter. Answers have been given in respect of those questions which are based on judicial decisions or involving legal interpretations.
Students may keep in mind that though the Study Material covers the entire syllabus, it is of utmost importance to refer to the bare Acts and a standard text book in addition to this study material. This would be helpful for solving problems, answering a variety of questions and remembering sections and rules. In India, tax legislations undergo many amendments every year.
Students are advised to update themselves regularly with such amendments. The annual publication brought out by the Board of Studies in form of the “Supplementary Study Paper” would be helpful in this regard. “Supplementary Study Paper” contains the amendments made by the relevant Finance Act in direct and indirect tax laws.
The Study Material of Indirect Tax Laws is made in two volumes for ease of handling by the students. Volume-I & II is the Study Material containing the theoretical aspects of all the topics covered in the syllabus. Volume-III is the Practice Manual which provides a rich bank of practical questions on various topics.
Happy Reading and Best Wishes!
The Aim To Write This here is that almost 90% of the students don't read this before exam and we Know whatz the result.
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