Syllabus
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Course Code: MC 307 Course Name: Optional Group II (Finance & Taxation) - Advanced Tax Laws and Practice |
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| MODULE NO / UNIT | COURSE SYLLABUS CONTENTS OF MODULE | NOTES |
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| 1 | Wealth Tax: Charge of wealth tax, assets, deemed assets and assets exempted from tax, valuation of assets, Computation of net wealth and wealth tax liability, Return of wealth and provisions concerning assessment. Value Added Tax (VAT): Justification, objectives and benefits of VAT, Types and methods of computation of VAT, VAT Methodology and VAT – Registration, returns, audit and penal provisions. Services Tax: Need, Statutory provisions, taxable services, valuation, administrative mechanism and procedural aspects, rates and computation of tax, payment & adjustment of service tax, Penalties under services tax, Challenges before services tax administration in India. Central excise laws: Basis of chargeability of duties of central excise- classification and valuation of excisable goods, assessment procedure, recovery and refund of duties. Clearance of excisable goods, filing of returns; CENVAT. Custom laws: levy of and exemption from custom duties, valuation and assessment of duties, recovery and refund of custom duties, Prohibited, specified and notified goods, special provisions & rules relating to baggage, Procedure for clearance of imported and exported duties. Outline of proposed Direct Taxes Code and Goods and Services Tax. |
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