The present book is about the organization, operation and growth of the Financial Act and Taxation System in India. A student of BAF often finds that taxation and financial policies can be understood much better, and they can be analyzed more realistically, if he has a good understanding of the actual functioning of the various parts of the financial system and taxation. The purpose of this book is to provide such an understanding of the working of financial and tax system.
We are happy to present the book “TAXATION – I [Indirect Taxes]” to the students of F.Y.B.Com. Accounting and Finance (FYBAF) for University of Mumbai. In this edition, an effort has been made to incorporate the latest examination questions at relevant places in the book.
This book contains a list of the topics covered in each chapter which will avoid the controversies regarding the exact scope of the syllabus. The text follows the term-wise, chapter-topics pattern prescribed in the syllabus.
The numerous illustrations are arranged in ascending order of difficulty containing full solutions to questions asked in various examinations of Mumbai University and Professional Examinations. ‘Exercises’ contain theory as well as practical questions.
We have preferred to the text of the section and the rule as it is, and thereafter, added the comments with the intention of explaining the subject to the students in a simplified language. While making an attempt to explain in a simplified language, some mistake of interpretation might have crept in.
Contents –
1. Maharashtra Value Added Tax, 2002
2. Registration Procedure and Rules: Sec. 16
3. Audit, Penalty and Interest
