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.