Course Overview
The Diploma in VAT and Sales Tax Management (DVSTM) equips students with skills to manage VAT and sales tax efficiently. Covering tax laws, compliance, and reporting, the course prepares professionals for roles in finance, accounting, and taxation. Ideal for those seeking expertise in indirect taxation.
Duration:
1 year (2 semesters)
Syllabus:
The syllabus for the Diploma in VAT (Sales Tax) is typically structured across two semesters. Below is a sample outline:
Semester 1:
Introduction to Indirect Taxes:
Overview of indirect taxes: VAT, Sales Tax, Service Tax, and Excise Duty
Evolution of VAT and its comparison with Sales Tax
Concepts of VAT in the Indian context before the implementation of GST
VAT Laws and Procedures:
Understanding VAT laws as per the state legislation
VAT registration, compliance requirements, and procedures
Calculation of VAT: Input tax credit, output tax, and net VAT payable
Sales Tax:
Sales tax structure: Local sales tax, Central Sales Tax (CST)
Sales tax filing, payments, and compliance
Differences between Sales Tax and VAT
Tax Accounting and Documentation:
Accounting procedures for VAT and Sales Tax transactions
Maintenance of records, invoices, and documentation required under VAT and Sales Tax laws
Filing returns, refunds, and audits under VAT/Sales Tax
Semester 2:
Transition from VAT/Sales Tax to GST:
Introduction to GST (Goods and Services Tax) and its impact on VAT/Sales Tax
Transitional provisions under GST for businesses previously under VAT/Sales Tax
Comparative analysis between GST and VAT/Sales Tax systems
VAT Assessment and Audits:
Procedure for VAT assessment and audit by tax authorities
Preparation for VAT audits, notices, and compliance reviews
Resolving disputes and appeals related to VAT assessments
VAT/Sales Tax Planning and Optimization:
Strategies for tax planning and VAT/Sales Tax optimization
Handling tax exemptions, deductions, and deferrals
Avoiding penalties and interest through proper compliance
Project Work/Internship:
Practical experience through internships in tax consultancies or corporate tax departments
Project work involving VAT and Sales Tax calculations, return filings, and audit preparations
Preparation of reports and presentations on VAT and Sales Tax management topics
Average Fees:
₹20,000 to ₹75,000 (varies by institution)
Exams to Attend:
Internal Assessments:
Regular assessments through assignments, case studies, and practical exercises on VAT/Sales Tax compliance, tax calculations, and audits.
Final Semester Examinations:
End-of-semester exams testing theoretical knowledge and practical skills related to VAT and Sales Tax laws and procedures.
Professional Certifications (Optional):
Certified VAT Professional (CVP): Certification for expertise in VAT and Sales Tax compliance.
Certified Indirect Tax Professional (CITP): Specialization in VAT, GST, and other indirect taxes.
Competitive Exams (Optional):
Entrance exams for further studies such as CA (Chartered Accountant), CS (Company Secretary), or LLB with a focus on tax law.
Top 10 Institutions in India:
Institute of Chartered Accountants of India (ICAI), New Delhi
Indian School of Taxation, Mumbai
Symbiosis Centre for Distance Learning, Pune
National Institute of Financial Management (NIFM), Faridabad
Indian Institute of Taxation, Mumbai
Amity University, Noida
Narsee Monjee Institute of Management Studies (NMIMS), Mumbai
Indian School of Business (ISB), Hyderabad
Christ University, Bangalore
ICFAI University, Hyderabad
Top 10 Institutions in Kerala:
Rajagiri College of Social Sciences, Kochi
Farook College, Kozhikode
St. Teresa's College, Ernakulam
Kerala Institute of Local Administration (KILA), Thrissur
Sacred Heart College, Kochi
MES College, Marampally
Amrita School of Arts and Sciences, Kochi
Mahatma Gandhi University, Kottayam
Mar Ivanios College, Thiruvananthapuram
St. Joseph’s College, Devagiri, Kozhikode