Tax- Features – Canons – Objectives of Taxation – Tax Vs Duty - Direct Tax Vs Indirect Tax – Advantages and Disadvantages of indirect taxes - Various types of Indirect taxes.

Customs Duty – Objectives – Levy and Collection – Classification of Goods – Types of Customs Duty – Valuation of Goods

GST – Concept – Need – Types of GST – Advantages and Disadvantages of GST – Framework of GST in India

Supply – Meaning – Forms – Govt./Public Authorities and Supply – Composite or Mixed Supply – Continuous Supply - Time of Supply – Value of Supply

Incidence of tax – Rates of GST in India – Exemption and Exempt Supplies. Input Tax Credit (ITC) – Eligibility and condition – Key Elements ofITC Note: 60%theory and 40% practical