TamilNadu general sales Tax Act – Definition of Business, Dealers, Casual
Trader,Goods,Sales, Declared goods, Turnover – Procedure for Registration –VAT
(Value Added Tax) Meaning, Applicablity,Coverage of goods under VAT,-- Tax
Payers Identification Number (TIN) – Modes of charging sales tax – Levy of
Central Sales Tax Act, - Definitions of Dealer, Registered dealer, Turnover,
Business,- Inter State Sales- Determination of taxable Turnover- Registration of
Dealer under the CST Act.
UNIT – III
Central Excise Act, 1944 – Levy and Collection – Purpose of charging
excise duty – Excisable goods – Concepts of manufacturer –Exemption from Excise
duty – Valuation of Excisable goods – Licensing provisions- CENVAT
Customs Act, 1962- Definitions, -Types of duty –Prohibition on importation
and exportation of goods – Dutiable Goods U/S 26, Power of grant exemption from
duty U/S 25,Restrictions on custody and removed in imported goods U/S45-Duty
Wealth Tax Act – Definitions –Valuation of various Assets – Computation
of net wealth (Problems) – Exempted wealth.