On
1st
March ,2023( Wednesday) the PG Department of Commerce and Management of PCM SD College for
Women, Jalandhar organised an Open Quiz Competition on the topic – "Indirect Taxes" to commemorate the CENTRAL EXCISE DAY (24th February).
The
history of Indirect Taxes in India dates back to the early part of the 20th
century when British Raj imposed taxes on commodities such as Salt, Tea and Opium. The
revenue from these taxes were used to fund the British Raj’s administrative and
military costs. The first comprehensive taxation system in India was introduced
in 1860,when the Government of India act was passed.
Post Independence period, Indirect Taxes continued
to play a major role in India ‘s Fiscal Policy . After a series of amendments
and changes on 1st July, 2017 the Goods and Services Tax was
implemented in India as a part of new Indirect Tax Regime.
The
quiz on Indirect Taxes was organized to increase awareness amongst the students
about Indirect Taxes and Indian Taxation System. The students of PG Department
of Commerce and Management actively participated in the quiz. It was an
innovative approach to educate the students regarding the various aspects of
Indirect Taxes /Goods and Services Taxes in India.
Diksha,
Jaspreet and Sonia of B.Com Sem IVth and Shivani , Pushneet and Radhika of
M.Com Sem IVth bagged the prizes.