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Practical [1]

Paper Code: 
24TPT333
Credits: 
02
Contact Hours: 
30.00
Max. Marks: 
100.00
Objective: 

This will enable the students to gain practical knowledge about significance of IGST, custom Act, and latest Finance Act.

Course Outcomes: 

 

Course outcome

(at course level)

Learning and teaching strategies

Assessment Strategies

Course Code

Course

Title

24TPT333

 

Practical

 

CO49: Determine the Place of Supply Under IGST and express the significance of Compliance Rating

CO50: Gain knowledge regarding the assessment process under Customs Act

CO51: Outline the process of clearance of Goods

CO52:  Analyze the investment options to reduce tax liability

CO53: Infer broad outline of the latest Finance Act with reference to an Individual

CO54: Contribute effectively in course – specific interaction.

Approach in

teaching:

Interactive Lectures, Discussions, Tutorials, Problem solving sessions, Presentations

 

 

Learning activities for the students:

Self-learning assignments, Case Study Analysis, Presentations, Group Discussions

Continuous Assessment Test, Semester End Examinations, Quiz, Solving Numerical Problems, Assignments, Class Presentations, Individual and group projects.

 

 

6.00
Unit I: 
Place of Supply and Compliance Rating

• Practical problems relating to determination of place of supply under IGST
• Compliance Rating under GST

6.00
Unit II: 
Customs Act

• Practical problems relating to the Assessment process under Customs Act

6.00
Unit III: 
Clearance of Goods

• Procedural compliance regarding clearance of Goods imported and exported

6.00
Unit IV: 
Tax Planning

• Case studies on tax planning related to Investments.
• Tax incentives for industrial development and Tax holidays

Unit V: 
Finance Act

• Detailed study of the latest Finance Act
(Provisions related to Individual Assessee)

Essential Readings: 

1. Illustrated Guide to Goods and Services Tax- CA Rajat Mohan (Bharat Publications)
2. Biginner’s Guide to GST- Vandana Bangar, Yogendra Bangar (Aadhya Publications)
3. Income Tax- Agarwal, Jain, Sharma, Shah, Mangal (Ramesh Book Depot)
4. Income Tax-Patel, Chaudhary, Sharma, Modi, Bardia

References: 

1. Professional Approach to Direct Taxes- Girish Ahuja& Ravi Gupta (Bharat Law House Pvt Ltd, New Delhi
2. Direct Tax Laws- T.N Manoharan, Snowwhite Publications (P) Ltd
3. Direct Tax Law and Practice- V.K Singhania (Taxmann Publication, New Delhi)
4. Basics of GST- Nitya Tax Associates (Taxmann’s Publications)
5. GST- A Practical Approach— Vashistha Chaudhary, Ashu Dalmia, Shaifaly Girdharwal (Taxmann’s Publications)
E-Contents:
1. https://www.incometaxindia.gov.in/pages/tutorials.aspx [2]
2. https://www.taxmann.com/virtualbooks/product/6695-income-tax-act-2021-vi... [3]
3. https://cbic-gst.gov.in [4]
4. https://cleartax.in/s/gst-book-online-pdf [5]
5. http://www.idtc.icai.org/gst.html [6]
6. https://taxmantra.com/wp-content/uploads/2017/03/GST-Ebook.pdf [7]

Reference Journals:
1. Tax World
2. Journal of International Accounting, Auditing, and Taxation

Academic Year: 
2024-2025 [8]

Follow Accounting and Taxation on:

IIS (Deemed to be University)

Gurukul Marg, SFS, Mansarovar, Jaipur 302020, (Raj.) India Phone:- +91-141-2400160-61, 2397906-07, Fax: 2395494, 2781158

Source URL: https://accountingtaxation.iisuniv.ac.in/courses/subjects/practical-223

Links:
[1] https://accountingtaxation.iisuniv.ac.in/courses/subjects/practical-223
[2] https://www.incometaxindia.gov.in/pages/tutorials.aspx
[3] https://www.taxmann.com/virtualbooks/product/6695-income-tax-act-2021-virtual-book
[4] https://cbic-gst.gov.in
[5] https://cleartax.in/s/gst-book-online-pdf
[6] http://www.idtc.icai.org/gst.html
[7] https://taxmantra.com/wp-content/uploads/2017/03/GST-Ebook.pdf
[8] https://accountingtaxation.iisuniv.ac.in/academic-year/2024-2025