Income Tax vs GST: High-Weightage Chapters and Common Mistakes to Avoid in Exams

Taxation is dynamic and highly calculation-intensive. With recent amendments in the Finance Act, understanding both the default New Tax Regime (Section 115BAC) and the Old Tax Regime is critical for scoring exemption marks.

Critical Topics for Direct & Indirect Tax

Pay special attention to Profits and Gains of Business (PGBP), Capital Gains, Salaries, and Input Tax Credit (ITC) eligibility under Section 16 & 17(5) of the CGST Act.