MOHALI: Dr Avtar Krishan Vashisht, University Business School, Panjab University, delivered a guest lecture on Budget Analysis 2020-21 at the Rayat Bahra University. The talk was organised by the Commerce Department of the University School of Management Studies (USMS)
Dr Avtar Krishan Vashisht began the session by distinguishing between direct and indirect taxes in India. He informed the students that Goods and Service Tax (GST) is an indirect tax which is a combination of VAT and Service tax.
Dr Vashisht highlighted the GST rates applicable and explained central, state and integrated GST. He elaborated on the application of GST by giving real life examples. He also explained the process of budgetary allocation for industries and different ministries.
The talk was followed by an interactive session wherein students of the Commerce Department fielded some interesting questions which were explained by Dr AK Vashisht. The expert highlighted the different dimensions of budget in management outlook.
Faculty members of the Commerce Department also attended the informative session. At the end of the lecture, Prof Amita Rani, Head of the Commerce Department, thanked the guest speaker for sharing his valuable thoughts with the students.