The subject Direct & Indirect Tax in the BCom 4th Semester under the NEP FYUGP curriculum of Gauhati University covers essential taxation concepts, including income tax, GST, and customs law. This blog post provides a structured breakdown of the syllabus to help students prepare effectively.
Course Details
- Course Name: Direct & Indirect Tax
- Semester: 4th
- Credit: 4
- Total Marks: 100
Unit-Wise Syllabus Breakdown
Unit 1: Introduction to Taxation
This unit covers the fundamental concepts of taxation.
- Basic concepts: Income, agricultural income, person, assessee, assessment year, previous year, gross total income, total income
- Residential status and its impact on the scope of total income
- Exempted income under Section 10
Unit 2: Computation of Income Under Different Heads
This unit focuses on various heads of income under the Income Tax Act.
- Income from salaries
- Income from house property
- Profits and gains of business or profession
- Capital gains
- Income from other sources
Unit 3: Computation of Total Income and Tax Liability
This unit explains the process of calculating total income and tax liability.
- Deductions from gross total income
- Computation of total income of individuals
- Advance payment of tax and tax deducted at source (TDS)
Unit 4: Introduction to Indirect Tax and Customs Law
This unit provides an overview of indirect taxation and customs laws in India.
- Meaning of indirect tax and its history in India
- VAT concepts and principles, calculation of VAT on alcohol and petroleum products
- Basic concepts of customs law, including territorial waters and high seas
- Types of customs duties: Basic duty, countervailing duty, anti-dumping duty, safeguard duty
- Customs procedures, import and export procedures, baggage rules, and exemptions
Unit 5: Structure of GST in India
This unit explains the Goods and Services Tax (GST) framework.
- The Central Goods and Services Tax Act, 2017, and The Assam Goods and Services Tax Act, 2017
- History, meaning, features, and advantages of GST
- Dual GST model: CGST, SGST, UTGST, IGST
- Taxes subsumed by GST and commodities outside the scope of GST
- Important GST terms: Place of supply, adjudicating authority, agent, aggregate turnover, business, capital goods, input tax, supplier
- GST Council and GST Network
Unit 6: Registration, Levy, and Collection of Tax under GST
This unit discusses GST registration and tax collection.
- Concept of tax invoice under GST (Section 31)
- Meaning, eligibility, and conditions for input tax credit
- Threshold limits for registration
- Persons liable and not liable for registration
- Compulsory registration in certain cases and deemed registration
- GST rate structure and composition scheme
Recommended Books and Study Materials
Direct Tax Books
- Students’ Guide to Income Tax by Vinod K. Singhania and Monica Singhania
- Systematic Approach to Income Tax by Girish Ahuja and Ravi Gupta
Indirect Tax Books
- Students’ Guide to Indirect Tax by Vinod K. Singhania and Monica Singhania
- Indirect Tax Law and Practice by V. S. Datery
- Systematic Approach to Indirect Taxes by Sanjeev Kumar
- Service Tax: How to Meet Your Obligation by S. S. Gupta
- Indirect Taxes by Girish Ahuja and Ravi Gupta
Journals
- Income Tax Reports, Company Law Institute of India Pvt. Ltd., Chennai
- Taxman, Taxman Allied Services Pvt. Ltd., New Delhi
- Current Tax Reporter, Jodhpur
Software and Online Resources
- E-Filing of Income Tax Returns and Computation of Tax by Vinod K. Singhania (Taxmann Publications)
- Excel Utility for tax filing available at Income Tax India E-Filing Portal
Importance of This Course
- Provides a strong foundation in direct and indirect taxation
- Enhances career opportunities in accounting, taxation, and finance
- Covers practical aspects such as tax computation, GST registration, and compliance
- Beneficial for students aiming for careers as tax consultants, accountants, or auditors
Gauhati University Direct & Indirect Tax Question Papers
- Direct & Indirect Tax Question Paper 2013
- Direct & Indirect Tax Question Paper 2014
- Direct & Indirect Tax Question Paper 2015
- Direct & Indirect Tax Question Paper 2016
- Direct & Indirect Tax Question Paper 2017
- Direct & Indirect Tax Question Paper 2018
- Direct & Indirect Tax Question Paper 2022 (Coming Soon)
- Direct & Indirect Tax Question Paper 2023 (Coming Soon)
- Indirect Tax Laws Question Paper 2024
- Direct & Indirect Tax Model Question Paper 2025
Conclusion
The Direct & Indirect Tax syllabus for Gauhati University BCom 4th Semester (NEP FYUGP) is well-structured to provide students with comprehensive knowledge of taxation laws. Understanding these concepts is essential for academic success and future career prospects in finance and business.
For study materials, notes, and previous year question papers, visit The Treasure Notes.