The commerce laboratory is a new concept, where in students practice their theoretical knowledge gained in classroom. In addition student carries on more and more experiments. Mock commerce and business activities are undertaken in laboratory. Besides creating an interest in students, the labs also help in developing entrepreneurial capabilities and personality development.

One of the major objectives of a commerce lab is the introduction to the various instruments and documents use daily in commerce-based application and services such as:

• Banking Forms
• E- commerce related document
• Taxation auditing
• Stock exchange
• Insurance etc.

Accounting Vouchers and Computerized accounting manuals;

• Auditing (Forms/Formats/Challans)
• Taxation (Income tax, e-tax returns, Service tax and VAT Forms/Formats/Challans)
• Insurance (Life and General both) Business related – Forms/Formats/Documents.
• Sole trader related document copies.

Role and Functions of Commerce Lab

• To provide practical exposure of the process, Procedure and practices followed by the organization in conducting commercial practices/businesses and expose the students with all forms/formats/ formalities.
• To provide practical orientation to students while teaching the subjects according to the syllabus by linking it with the Lab practical.
• To improve reasoning and analytical abilities of the students
• To create more interest among the students on the subject
• To make the students aware of availability and applicability of commerce documents for their day-to-day routine purposes.
• To equip the students with practical knowledge and develop entrepreneurial abilities to start own business or to get employment in the competitive job market
• To prepare the students to fulfil the requirements of industry and business