Programme PGP Term V Academic Year 2021-22

Course title Business Taxation Area Strategy Credits 0.50

Prof. Savan Godiawala (VF)

Course Description & Objectives
India has several taxes which relate to business activity. Income tax applies to all individuals and corporate persons who earn income. Goods and Service Tax (GST) applies to supply of goods and services. Custom duty is levied when any person imports goods. Each of the taxes has a different basis. In addition, some taxes are applied by the states, for example, Land Revenue, Stamp Duty etc., while others are levied by the Centre.

Every stage of business or management practice involves incidence(s) of taxation. Towards compliance with the requirements of the tax law, business practices have to be optimally structured. Further, every contract or project has to be conceived with incidences of taxation. As the incidences of taxation change every year, the relationship of taxation and management practices have to be continually appraised. Thus, it is imperative for a manager to be well versed with the foundation and incidences of taxation in India.

The objective of the course is to introduce the participants to the basis, incidence and application of the main taxes in India, namely, Income Tax and Goods and Service Tax.