COMMERCE EDUCATION: WELCOME

GOODS AND SERVICE TAX  (GST) J ourney of Indian indirect taxation and turning points, which reformed the taxation system till date before the introduction of GST taxation system in India. 1974: Report of LK Jha Committee suggested introduction of VAT system. 1986: Introduction of restricted VAT called “MODVAT”. 1991: Chelliah Committee report recommended “VAT/GST” and recommendations accepted by the Government. 1994: Service Tax introduction. 1999: Empowered Committee formation on State VAT. 2000: Introduction of Uniform Floor State Tax Rates and abolition of tax-related incentives granted by State Governments. 2003: Implementation of VAT system in Haryana. 2004: Strong progress towards introduction of CENVAT. 2005-06: Implementation of VAT based taxation system in 26+ states in India. 2007: First GST Stuffy released by Mr. P. Shome in January; Finance Minister speech carries the introduction of GST in Budget; CST phase out starts in April ...

Career options after +2 Commerce  Here is the list of 12 best Career options after 12 th commerce. Bachelor of Commerce (B.Com) This is the most popular course that maximum students pursue after completing their 12 th commerce. It is a general degree course that continues for a period of 3 years. The level of difficulty under these courses is not very high, students can easily get admission under this course from any college. Under this, students get to study subjects like Economics, Marketing, Corporate Accounting, Law, Business Environment etc. Bachelor of Economics This is another important and fruitful option available to students after class 12 th commerce. Under this course, students get exposure to numerous economic concepts, analytical methods, and studies. All those students having interest in economics may take this course. It is best for those who want to gain specialization in this field. The duration of the course is for 3 years. Students get t...

In 1494, the first book on double-entry accounting was published by Luca Pacioli. Since Pacioli was a Franciscan friar, he might be referred to simply as Friar Luca. While Friar Luca is regarded as the "Father of Accounting," he did not invent the system. Instead, he simply described a method used by merchants in Venice during the Italian Renaissance period. His system included most of the accounting cycle as we know it today. The first accounting book actually was one of five sections in Pacioli's mathematics book, titled Summa de Arithmetica, Geometria, Proportioni et Proportionalita (Everything About Arithmetic, Geometry and Proportions). Accounting practitioners in public accounting, industry, and not-for-profit organizations, as well as investors, lending institutions, business firms, and all other users for financial information are indebted to Luca Pacioli for his monumental role in the development of accounting.