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CS Professional Amendments/ Updates Applicable Dec 2017 Exam

Download relevant amendments and updated notes of all papers applicable for CS Professional/ Final June 2017 term of examinations conducted by ICSI.

The next examination of Company Secretary (CS) Professional Programme shall be held in the month of December 2017. The Institute of Company Secretaries of India (ICSI) has announced and uploaded the relevant amendments and updates applicable for CS Professional Dec 2017 term of examinations.

You may download subject wise amendments and updates applicable for Dec 2017 attempt. Thus, you will find updates and amendments in Advanced Company Law and Practice, updates and amendments in Secretarial Audit, Compliance Management and Due Diligence, updates and amendments in Corporate Restructuring, Valuation and Insolvency, updates and amendments in Information Technology and Systems Audit, updates and amendments in Financial Treasury and Forex Management, updates and amendments in Ethics, Governance and Sustainability, updates and amendments in Advance Tax Laws and Practice, updates and amendments in Advanced Tax Laws and Practice, updates and amendments in Banking Law and Practice, Insurance Law and Practice Intellectual Property Rights – Law and Practice, updates and amendments in International Business Laws and Practice.

Amendments Applicable for CS Professional Dec 2017

ICSI has published supplement papers for CS Professional Programme examination to be held in Dec 2017. You should read Study Material along with updates provided in supplement. These academic updates have been issued by ICSI to facilitate CS Professional students to acquaint themselves with the amendments in the Companies Act, 2013 applicable for Dec 2017 Examination.

ICSI has issued supplement relevant for Students appearing in December 2017 Examination of CS Professional Course.

Module 3-Paper 7: ADVANCE TAX LAWS & PRACTICE

With the implementation of Goods & Services Tax w.e.f July 1, 2017, the students of Professional Programme are hereby notified that the selected topics of Part B of the syllabus for “Advance Tax Laws and Practice” (Module 3 Paper 7) of Professional Programme has been replaced with Goods and Services Tax (GST) for December, 2017 examinations.

Direct Tax Part A:

You should read these lessons (1-3) related to direct taxes part from your latest updated study material applicable for Dec 2017 examination of CS Professional course.

  1. Taxation of Individual Entities, Partnership, LLP, Companies
  2. International Taxation Covering Taxation of Non Resident Entities, Advance Ruling, Transfer Pricing, Direct tax Avoidance Agreement
  3. Case studies and Practical Problems covering Advance Tax Planning relating to Companies and Business Entities

Indirect Tax Part B – Customs Laws:

Following are updated lessons for part B related to custom laws of paper 7 for CS Professional Dec 2017 examination.

  • Indirect Tax Laws and Practice – An Introduction [Download Now]
  • Customs Law -Introduction and Basic Concepts, Valuation, Assessment of Imported and Export Goods and Procedural Aspects [Download Now]
  • Customs Law: Arrival or Departure and Clearance of Imported or Export Goods, Warehousing, Duty Drawback, Baggage and Miscellaneous Provisions [Download Now]
  • Customs Law: Search, Seizure, Confiscation of Goods, Offences and Penalties [Download Now]
  • Advance Ruling, Settlement Commission and Appellate Procedure [Download Now]
  • Promissory Estoppel in Fiscal Laws, Tax Planning and Tax Management [Download Now]

Indirect Tax Part B – Goods and Service Tax “GST”:

Following are the relevant amendments and updates related to indirect taxes for CS Professional Dec 2017 examinations.

  • Background of GST – Introduction to GST [Download Now]
  • CENTRAL GOODS AND SERVICES TAX ACT, 2017
    • CHAPTER – I : DEFINITIONS
    • CHAPTER – II : ADMINISTRATION
    • CHAPTER – III : LEVY AND COLLECTION OF TAX
    • CHAPTER – IV : TIME AND VALUE OF SUPPLY
    • CHAPTER – V : INPUT TAX CREDIT
    • CHAPTER – VI : REGISTRATION
    • CHAPTER – VII : TAX INVOICE, CREDIT AND DEBIT NOTES
    • CHAPTER – VIII : ACCOUNTS AND RECORDS
    • CHAPTER – IX : RETURNS
    • CHAPTER – X : PAYMENT OF TAX
    • CHAPTER – XI : REFUNDS
    • CHAPTER – XII : ASSESSMENT
    • CHAPTER – XIII : AUDIT
    • CHAPTER – XIV : INSPECTION, SEARCH, SEIZURE AND ARREST
    • CHAPTER – XV : DEMANDS AND RECOVERY
    • CHAPTER – XVI : LIABILITY TO PAY IN CERTAIN CASES
    • CHAPTER – XVII : ADVANCE RULING
    • CHAPTER – XVIII : APPEALS AND REVISIONS
    • CHAPTER – XIX : OFFENCES AND PENALTIES
    • CHAPTER – XX : TRANSITIONAL PROVISIONS
    • CHAPTER – XXI : MISCELLANEOUS
  • INTEGRATED GOODS AND SERVICES TAX ACT, 2017
    • CHAPTER – I : DEFINITIONS
    • CHAPTER – II : ADMINISTRATION
    • CHAPTER – III : LEVY AND COLLECTION OF TAX
    • CHAPTER – IV : DETERMINATION OF NATURE OF SUPPLY
    • CHAPTER – V : PLACE OF SUPPLY OF GOODS OR SERVICES OR BOTH
    • CHAPTER – VI : REFUND OF INTEGRATED TAX TO INTERNATIONAL TOURISTS
    • CHAPTER – VII : ZERO RATED SUPPLY
    • CHAPTER – VIII : APPORTIONMENT OF TAX AND SETTLEMENT OF FUNDS
    • CHAPTER – IX : MISCELLANEOUS
  • UNION GOODS AND SERVICES TAX ACT, 2017
    • CHAPTER – I : DEFINITIONS
    • CHAPTER – II : ADMINISTRATION
    • CHAPTER – III : LEVY AND COLLECTION OF TAX
    • CHAPTER – IV : PAYMENT OF TAX
    • CHAPTER – V : INSPECTION, SEARCH, SEIZURE AND ARREST
    • CHAPTER – VI : DEMANDS AND RECOVERY
    • CHAPTER – VII : ADVANCE RULING
    • CHAPTER – VII : TRANSITIONAL PROVISIONS
    • CHAPTER – IX : MISCELLANEOUS
  • THE GOODS AND SERVICES TAX (COMPENSATION TO STATES) ACT, 2017

 

The syllabus of Part B (70 Marks) of Advance Tax Law and Practice Paper (Module – 3 Paper– 7) for Professional Programme for December, 2017 exam shall be as under:

PART B: CUSTOMS LAWS & GOODS AND SERVICE TAX (70 MARKS)

CUSTOMS LAWS

  1. Introduction
    Special Features of Indirect Tax Levies – All Pervasive Nature, Contribution to Government Revenues; Constitutional Provisions Authorizing the Levy and Collection of Customs
  2. Customs Laws
    • Levy of Customs Duties, Types of Customs Duty Leviable, Tariff Classification & Exemptions, Valuation of Imported and Exported goods
    • Provision of Assessment, Payment of Duties, Recovery and Refund of Customs Duties
    • Duty Drawback
    • Procedure for Clearance of Imported and Exported Goods
    • Transportation and Warehousing
    • Confiscation of Goods and Conveyances and Imposition of Penalties; Search, Seizure and Arrest, Offences and Prosecution Provisions
    • Adjudication, Appeal and Revision; Settlement of Cases, Advance Ruling
    • Other Relevant Areas and Case Studies under Custom Laws and Rules
  3. Promissory Estoppel in Fiscal Laws – Principles and Applicability with reference to Indirect Taxes

Tax Planning and Management – Scope and Management in Customs, with Specific Reference to important Issues in the Respective Areas

GOODS AND SERVICE TAX
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

Note that questions relating to Central Excise Laws, Service Tax Laws and Value Added Tax will not be asked in December, 2017 exam. Further, the rules relating to GST regime shall not be applicable for December, 2017 exam.

However, there is no change in the syllabus of Part A – Direct Tax Management (30 Marks) of Advance Tax Laws and Practice Paper (Module – 3 Paper –7) of Professional Programme.

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