HYDERABAD: In a bid to make the syllabus more relevant to industry requirements, Osmania University has decided to revamp the commerce syllabus to include GST and new accounting package for undergraduate, postgraduate and diploma courses.
Over 50,000 students in 350 affiliated colleges of the university will be studying these topics from the new academic year 2018-19. GST curriculum will be introduced in the sixth semester at UG level, which means B Com final year students will be studying the subject for the first time.
Last year, when the new taxation policy was introduced, the varsity could not include it in the syllabus because the new session was already underway. "It was still evolving then. Even now we have decided to introduce GST only in the last semester, which will commence next January, because by then all uncertainties and amendments to the law would be done with," said Prof SV Satyanarayana, chairman, Board of Studies, Faculty of Commerce.
The introduction of GST has also rendered the PG diploma in taxation syllabus outdated. The Board of Studies has decided to replace the Central and State excise with GST. Accordingly, there will be one paper each in the two semesters of the course - one theory paper and one practical examination.
While the syllabus for UG and diploma courses are ready and awaiting approval of the standing committee, work is underway for the formulation of a GST-inclusive syllabus for Masters in commerce programme. "It will either be part of the syllabus or a separate certificate course but it will be introduced in the upcoming academic year," he said.
OU to enter into MoUs with various companies
The varsity is also trying to give hands-on experience to the students and will enter into MoUs with various private companies. "We will also try to get our students to do internship with the commissioner of GST or with chartered accountants practising GST as the focus will be on practical knowledge. There is a need for GST advisers and we want to fill this gap in the industry," Satyanarayana added. B Com students will also have the option to get an additional certificate from the organisation OU ties up with if they register for it. In addition, B Com final year students will also have a new module on accounting package. "B Com Honours syllabus is being mapped on professional degrees like CIMA. Students have an option to enrol for a professional degree course and if they enrol for CIMA they will be exempted from nine papers . It will be an advantage to them," he added.