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CS Executive Amendments and Updates for June 2018 Exams

Download relevant amendments and updated notes of all papers applicable for CS Executive/ Inter June 2018 term of examinations conducted by ICSI.

Download CS executive amendments June 2018. The next examination of Company Secretary (CS) Executive Programme shall be held in the month of June 2018. The Institute of Company Secretaries of India (ICSI) has announced and uploaded the relevant amendments and updates applicable for CS Executive June 2018 term of examinations.

CS Executive students are also required to update themselves on all the relevant Notifications, Circulars, Clarifications, etc. issued by the SEBI, RBI and Central Government on or before six months prior to the date of the examination.

ICSI has also released Practice Manual (PM) for CS Executive Programme. The students, who wish to procure printed copies, may purchase from sale counters at ICSI Regional offices/ Chapter offices or order it online through e-cart on ICSI website.

CS Executive Programme Amendments for June 2018 Exams

Paper-1 (COMPANY LAW):

ICSI has released the latest study material (July 2017 Edition) for CS executive relevant for June 2018 examinations. This study material is based on those sections of the Companies Act, 2013 and the rules made there under which have been notified by the Government of India and came into force w.e.f. April 01, 2014 (including Amendments/ clarifications/ circulars issued there under upto June, 2017).

ICSI has also issued Corrigendum to Study Material Company Law (Executive Programme) (New Edition-2017).

Companies Act in PDF

Companies (Amendment) Act, 2017:

The Central Government has notified the Companies (Amendment) Act, 2017 (Amendment Act) on 3rd January, 2018. The provisions of this Amendment Act shall come into force on the date or dates as the Central Government may appoint by notification(s) in the Official Gazette.

Since the Notifications, Circulars, Clarifications, etc. issued by the Regulators, on or before six months prior to the June 2018 Examination are applicable, accordingly, the Companies (Amendment) Act, 2017 is not applicable for the examination to be held in June, 2018.

Amendment Rules/Circulars/Notifications/Orders (From 1st June,2017 to 31st December,2017):

Download these 25 updates in PDF

  1. Companies (Restriction on number of layers)Rules, 2017 dated 20.9.2017
  2. General Circular No. 09/2017 dated 5th September 2017 clarify joint venture with regard to notification number G.S.R. 839 (E) dated 5th July, 2017
  3. Companies (Incorporation) Second Amendment Rules, 2017 dated 27.07.2017
  4. Companies (Acceptance of Deposits) Second Amendment Rules, 2017 dated 19.09.2017
  5. Investor Education and Protection Fund Authority (Accounting, Audit, Transfer and Refund) Second Amendment Rules, 2017 dated 28.10.2017
  6. General circular no. 07/2017 dated 05.06.2017 in respect of Clarification regarding transmission of securities by operation of law
  7. Companies (Cost records and audit) Amendment Rules, 2017 dated 07.12.2017
  8. Companies (Cost records and audit) second Amendment Rules, 2017 dated 20.12.2017
  9. Companies (Filing of Documents and Forms in Extensible Business Reporting Language) Rules, 2015 dated 9.11.2017
  10. Companies (Audit and Auditors) Second Amendment Rules, 2017 dated 22.06.2017
  11. Companies (Appointment and Qualification of Directors) Amendment Rules, 2017 dated 5.07.2017
  12. Companies (Meetings of Board and its Powers) Second Amendment Rules, 2017 dated 13.07.2017
  13. Through notification dated 5th July 2017 with respect to Amendments to Schedule IV of Companies Act, 2013
  14. Financial statement 2(40)
  15. Chapter V, clauses (a) to (e) of sub-section (2) of section 73 (Prohibition on acceptance of deposits from public)
  16. Chapter VII, clause (g) of sub section (1) of section 92 (Annual return)
  17. Chapter Vll, proviso to sub-section (1) of section 92 (Annual Return)
  18. Chapter X, clause (i) of sub-section (3) of section 143 (relating to auditor report)
  19. Chapter Xll, sub-section (5) of section 173 (Meetings of the Board w.r.t OPC, Dormant company, small company)
  20. Chapter Xll, sub-section (3) of section 174( Quorum of the board meetings)
  21. Chapter Vll, subsection (2) of section 96( AGM)
  22. Chapter Xl, subsections (6) and (7) of section 152(Appointment of director elected by small shareholders)
  23. Chapter XV(Compromise, Arrangements and Amalgamations, sections 230 to 232
  24. Clause (b) and first proviso to sub-section (1) of section 149(BoDs)
  25. Sub-section (7) of section 186 (Loan and Investment by Company)

Paper-4 (Tax Laws and Practice):

For Direct taxes, Finance Act, 2017 is applicable. CS Executive candidates shall prepare themselves for Assessment Year is 2018-19 (Previous Year 2017-18). Since, Wealth Tax Act, 1957 has been abolished w.e.f. 1st April, 2015. The questions from the same will not be asked in examination for June 2018.

For Indirect Taxes, all changes made by the Finance Act, 2017 are also applicable. Students are also required to update themselves on all the relevant Notifications, Circulars, Clarifications, etc. issued by the CBDT, CBEC & Central Government, on or before six months prior to the date of the June 2018 Examination.

Applicability of GST in CS June 2018:

With the implementation of Goods & Services Tax from July 1, 2017, ICSI has replaced Part B (Marks 30) of the syllabus for Tax Law and Practice Paper (Module – 1 Paper – 4) with “The Goods & Services Tax (GST)” for June 2018 examination.

Accordingly, the syllabus for Part-B of Tax Law and Practice Paper Module – 1 Paper – 4 (30 Marks) for CS Executive June 2018 exam shall be as under:

a) The Central GST Act,2017
b) The Integrated GST Act,2017
c) The Union Territory GST Act,2017
d) The GST(Compensation to States) Act,2017

However, the rules relating to GST regime shall not be applicable for CS executive December, 2017 exam.

Note:

  1. Questions relating to Service Tax Laws and Value Added Tax will not be asked in June 2018 exam.
  2. There is no change in the syllabus of Part A – Income Tax (70 Marks) of Tax Laws and Practice Paper (Module – 1 Paper – 4) of Executive Programme.

ICSI has released eBook on PAPER-4 Tax Law and Practice which is relevant for Students appearing in CS executive June 2018 Examination. You may click on download link to download this eBook on Tax Laws and Practice and prepare for your coming examination of CS June 2018.

Download Paper-4 Tax Laws and Practice by ICSI

Download eBook on GST by ICSI

GST Act in PDF

Paper-5 (Company Accounts and Auditing Practices):

You may download the relevant AS Rules, InAS Rules and CARO 2016 for June 2018 exams.

  • The Companies (Accounting Standards) Amendment Rules, 2016.
  • The Companies (Auditor’s Report) Order, 2016. [CARO 2016]
  • The Companies (Indian Accounting Standards) (Amendment) Rules, 2016.

Click here to download soft copy (PDF) of Practice Manual- Company Accounts and Auditing Practices.

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Isha

Will the new practic3 manual be issued for gst for dec 2017 exam

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