The Post Graduate Department of Commerce organized a 30 Hour Certificate Course in Practical Aspects of Income Tax and GST (including Return Filing) from 10th January 2024 to 18th March 2024 in Classroom T-304 for the students of M. Com Part I between 1.30 pm to 3.30 pm (every Monday, Tuesday and Friday). The main objective of the Course was to provide a practical understanding of GST Laws and Provisions to the students thereby enabling them to handle the income tax and GST E-filing portal and online processes. The training sessions were delivered by Ms. Sonam Daivajna, Director of SDS Accosphere Advisors Pvt. Ltd., Margao.
Initially, Ms. Sonam covered various basic theoretical concepts related to Indirect Taxes and Income Tax. She explained the basic concepts of indirect taxes and the constitutional levy of GST. It included the features of indirect tax and the tax hierarchy. The types of taxes levied such as IGST, CGST, and SGST were explained with a handful of examples. Further, the students were given a clear view of the meaning and scope of supply under GST. The various exemptions to GST were elucidated.
Ms. Sonam also invited one of her acquaintances to explain thoroughly the procedure of filing Income Tax Returns online. The procedure of Registration under the GST regime was covered. She briefed us about the GST return forms available. She shed light on how residential status is determined for calculating taxable income. The concept of Advance Tax was explained. It also covered the various deductions available to taxpayers under various sections of the Income Tax Act. Each sub-topic was well explained followed by practical problems related to the topic.
The course winded up with a 180-mark assessment test for the students held on 18th March 2024 from 1.30 pm to 3.30 pm, requiring the students to obtain a minimum of 75% marks in order to obtain the course certificate. At the end of the course, students were provided a Google form link to collect their valued feedback regarding the course. 42 M. Com students benefited from the course.
