Indirect taxes - Meaning- Features – Objectives of Taxation – Canons – Taxation under the Constitution - Direct Tax Vs Indirect Tax – Advantages and Disadvantages of indirect taxes - Various types of Indirect taxes

Customs Duty – Types of Customs Duty – Abatement Duty in Damaged or Deteriorated Goods – Customs Tariff Act 1995 – Customs Duty Drawback -Objectives – Levy and Collection – Classification of Goods –– Valuation of Goods

GST Background – Genesis of GST in India– Concept – Need – Taxes Subsumed in GST – Goods not covered in GST - Taxes in GST (CGST, SGST, and IGST) – Advantages and Disadvantages of GST – Framework of GST in India

Supply – Meaning – Forms – Concept of Supply (Section 7 of CGST) - Composite and Mixed Supplies (Section 8) – Place of Supply - Time of Supply of Goods (Section 12) – Time of Supply of Services (Section – 13) = Valuation of Supply

Incidence of tax – Rates of GST in India – Goods Exempt from Tax - Exemption and Exempt Supplies – Power of Grant Exemption from Tax (Section 11 of CGST Act/ Section 6 of IGST Act) - Input Tax Credit (ITC) – Eligibility and Condition – Key Elements of ITC