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.
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.
The topics covered in Indirect Taxation at the CMA Intermediate level
Canons of Taxation (GST)
Customs Laws
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
Credit system allows you to plan your learning smartly and with flexibility. Watch the video to find out more about how the credit system works, and how you can leverage this for your success.
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