Friday, July 19, 2013

ICMAI - Intermediate New Syllabus - Paper 11: Indirect Taxation

1. Canons of Taxation- Indirect Taxes                     5 Marks
(a) Features of Indirect Tax, Constitutional Validity
(b) Indirect Tax Laws, administration and relevant procedures

2. Central Excise                                               20 Marks
(a)The Central Excise Law -Goods, Excisable Goods, Manufacture and manufacturer, Classification, Valuation, Related
Person, Captive Consumption, CAS 4 CENVAT, Basic Procedure, Export, SSI, Job Work
(b)Assessments, Demands, Refund, Exemptions, Power of Officers
(c) Adjudication, Appeals, Settlement Commission, Penalties.
(d) Central Excise Audit and Special Audit under 14A and 14AA of Central Excise Act
(e) Impact of tax on GATT 94, WTO, Anti Dumping processing
(f) Tariff Commission and other Tariff authorities

3. Customs Laws                                               15 Marks
(a)Basic concepts of Customs Law
(b)Types of customs duties, Anti-Dumping Duty, Safeguard Duty
(c)Valuation, Customs Procedures, Import and Export Procedures, Baggage, Exemptions, Warehousing, Demurrage, Project Import and Re-imports
(d) Penalties and Offences

4. EXIM POLICY                                                 10 Marks
(a) EXIM Policy
(b)Export Promotion Schemes, EOU
(c)Duty Drawback
(d)Special Economic Zone

5. Service Tax                                                    25 Marks
(a)Introduction, Nature of Service Tax, Service Provider and Service Receiver
(b)Registration procedure, Records to be maintained
(c)Negative List of Services, Exemptions and Abatements
(d)Valuation of Taxable Services
(e)Payment of service Tax, Returns of Service Tax
(f)CENVAT Credit Rules, 2004
(g)Place of Provision of Service Rules, 2012
(h)Other aspects of Service Tax
(g)Special Audit u/s 72A of the Finance Act, 1994 for Valuation of Taxable Services

6. Central Sales Tax Act & VAT Act                                           15 Marks
(a)Central Sales Tax
(i) Introduction, Definitions , salient features of CST Act
(ii) Stock Transfer, Branch transfer, Inter State Sale
(iii) Various forms for filing of returns under CST
(iv) Procedures under Central Sales Tax (CST)

(b) Value Added Tax (VAT)
(i) Introduction, definitions, salient features of Sate VAT Act
(ii)Treatment of stock & branch transfer under State VAT Act
(iii)Filing of return under State VAT Act
(iv)Accounting & Auditing VAT

7. Basic Concepts of International Taxation & Transfer Pricing in the context of Indirect Taxation             10 Marks
(a) International Taxation & Transfer Pricing issues in the context of Indirect Taxation
(b) Indirect Taxation issues in cross-border services
(c) General Anti-Avoidance Rule (GAAR) – concept and application

(d) Advance Pricing Agreement (APA) – concept and application