Jawaharlal Nehru Technological University Hyderabad B.Tech IV Year PROFESSIONAL PRACTICE LAW AND ETHICS Previous Question Paper (February/March - 2022 - R18)

A profession is a vocation founded upon specialized educational training, the purpose of which is to supply disinterested objective counsel and service to others for a direct and definite compensation, wholly apart from expectation of other business gain. It is characterized by a formal code of ethics, a commitment to public good, and a high degree of autonomy in practice.

Separate ethical standards are essential for the following reasons:

• Public Trust: Professionals hold positions of power and influence over clients who often lack the technical expertise to evaluate the quality of service, necessitating a framework that ensures integrity.
• Conflict of Interest: Ethical codes provide guidelines to navigate situations where personal gain might conflict with professional duty, ensuring the client's interest remains paramount.
• Standardization: They ensure a uniform level of conduct across the profession, protecting the reputation of the entire field from the actions of individual practitioners.
• Social Responsibility: Professions often impact public safety, health, and welfare; ethical standards mandate that practitioners prioritize these societal needs over profit motives.

The Goods and Services Tax (GST) was introduced to replace a complex web of multiple indirect taxes with a single, unified tax structure. The underlying reasons include:

• Elimination of Cascading Effect: The previous tax regime suffered from the 'tax-on-tax' effect, where the tax paid on inputs was not fully creditable, increasing the final cost of goods. GST allows seamless input tax credit across the supply chain.
• Unified National Market: By replacing various state and central levies (like VAT, Excise, and Service Tax) with a single tax, it removes barriers to inter-state trade and creates a common national market.
• Ease of Doing Business: A centralized, technology-driven portal for registration, filing, and payment reduces bureaucratic hurdles and compliance costs for businesses.
• Increased Tax Compliance: The digital nature of GST and the matching of invoices between buyers and sellers significantly reduce tax evasion and bring more businesses into the formal economy.
• Transparency: The automated system minimizes human intervention in tax assessments, reducing corruption and ensuring greater transparency in tax administration.