Faculty of Management and Commerce

Ramaiah University of Applied Sciences

Department Management Programme BBA
Semester II Batch 2020
Course Code 19BMC110B Course Title Business Taxation
Course Leader Reshma K.J.

Assignment
Reg.No. Name of Student

Marks
Sections

Marking Scheme First

Max
CO PO Examiner Moderator
Marks
Marks

A1 Importance of Goods and Service Tax in India 4 1,2,3 5

Part A

Impact of GST on Fast Moving Consumer

A2 4 1,2,3 5
Goods(FMCG) Sector
Part A Max Marks 10
B.1 Different components of salary 5 1,11 5
B.2 Design a sample pay slip/ Salary statement
Part B

5 1,11 5
assuming the values
B.3 Two tax saving investment scheme 5 1,11 5
Part B Max Marks 15

Total Assignment Marks 25

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 Course Marks Tabulation

Component-1 (B) First

Remarks Moderator Remarks
Assignment Examiner
A.1

A.2

B.1

B.2

B.3

Marks (Max 25 )

Signature of First Examiner Signature of Moderator

Please note:
1. Documental evidence for all the components/parts of the assessment such as the reports,
photographs, laboratory exam / tool tests are required to be attached to the assignment report
in a proper order.
2. The First Examiner is required to mark the comments in RED ink and the Second Examiner’s
comments should be in GREEN ink.
3. The marks for all the questions of the assignment have to be written only in the Component –
CET B: Assignment table.
4. If the variation between the marks awarded by the first examiner and the second examiner lies
within +/- 3 marks, then the marks allotted by the first examiner is considered to be final. If the
variation is more than +/- 3 marks then both the examiners should resolve the issue in
consultation with the Chairman BoE.

Assignment

Instructions to students:

1. The assignment consists of 5 questions: Part A – 1 Question, Part B- 4 Questions.

2. Maximum marks are 25.
3. The assignment has to be neatly word processed as per the prescribed format.
4. The maximum number of pages should be restricted to 20.
5. Restrict your report for Part-A to 5 pages only.
6. Restrict your report for Part-B to a maximum of 10 pages.
7. The Soft Copy of the assignment must be submitted to the RUAS Portal.
8. Submission Date: 22nd June 2021
9. Submission after the due date is not permitted.
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 10. IMPORTANT: It is essential that all the sources used in preparation of the assignment must
be suitably referenced in the text.
11. Marks will be awarded only to the sections and subsections clearly indicated as per the
problem statement/exercise/question

Introduction to the course:

The course aims to equip students with the essential knowledge of Indian direct and indirect
taxation systems to prepare Income tax returns and analyse the tax reforms. Students will be
introduced to the concepts and types of direct and indirect taxes. Students will be trained to
determine residential status, methods of computing corporate tax, custom duty and Goods and
Service Tax (GST). Students will be trained to calculate the tax liability, custom duty and GST and to
analyse major direct and indirect tax reforms.

Part -A (5+5=10 marks)

Preamble

India is one of the largest economies in the world. The passing of the Goods and Services Tax (GST)
bill has grabbed the attention across industries within the country. This replaces various taxes into
one uniform tax system. It is expected that GST would have a constructive effect on all the
Industries. It would help the industries by streamlining the taxation structure. An amalgamation of
all the taxes into one uniform tax will ease the way of doing business, as well as minimizes the
cascading effects of manifold taxes that is applied to one product. Many countries has already
implemented goods and services tax (GST). Different tax rate structure based on different goods and
services may become road barrier for execution of indirect tax in India.

Write an essay on:

“Impact of Goods and Service Tax on Indian economy”

Your essay should address the following:

A 1.1 Explain the importance of Goods and Service Tax (GST) in India

A 1.2 Discuss three positive and negative impact of GST on Fast Moving Consumer Goods (FMCG)
Sector

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Part B (5+5+5=15Marks))

Income tax in India is a complicated thing and one cannot file Income Tax Return (ITR) without taking
all the necessary income, expenditure and investment sources they have in consideration. You need
to have sufficient knowledge about the IT laws along with proper planning to do it successfully.
People, who are not well-aware about tax laws, usually end up paying more taxes that could have
been avoided by opting for a well-planned approach.
Assume you are a Finance officer and address the following:
B.1 Discuss the different components of salary
B.2 Design a sample pay slip/ Salary statement assuming the values
B.3 Discuss any two tax saving investment scheme

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