The next examination of Company Secretary (CS) Executive Programme shall be held in the month of Dec 2017. The Institute of Company Secretaries of India (ICSI) has announced and uploaded the relevant amendments and updates applicable for CS Executive Dec 2017 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 & 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 Dec 2017 Exams
Paper-1 (COMPANY LAW):
ICSI has released the latest study material (July 2017 Edition) for CS executive relevant for Dec 2017 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).
Paper-3 (Economic and Commercial Laws):
Supplement for Economic and Commercial Laws relevant for CS Executive Dec 2017 Examination. [Download Now]
Lesson 1: Foreign Exchange Management
- Foreign Exchange Management (Possession and Retention of Foreign Currency) Regulations, 2015
- Foreign Exchange Management (Realisation, Repatriation and Surrender of Foreign Exchange) Regulations, 2015
- Foreign Exchange Management (Export and Import of Currency) Regulations, 2015
- Foreign Exchange Management (Export of Goods & Services) Regulation, 2015
- Foreign Exchange Management (Acquistion and Transfer of Immovable Property Outside India) Regulation, 2016
- Foreign Exchange Management (Establishment in India of A Branch Office or A Liaison Office or A Project Office or Any Other Place of Business) Regulation, 2016
- Foreign Exchange Management (Current Account Transactions) Amendment Rules, 2015
- Foreign Direct Investment Policy 2016
Lesson 2: Foreign Trade Policy and Procedures 2015-20.
- Schemes for Exporters of Gems and Jewellery
- Export Promotion Capital Goods (EPCG) Scheme
- Export Oriented Units (EOUs), Electronics Hardware Technology Parks (EHTPs), Software Technology Parks (STPs) And Bio-Technology Parks (BTPs)
- Quality Complaints and Trade Disputes
Lesson 5: Law Relating to Arbitration and Concilliation.
Paper-4 (Tax Laws and Practice):
For Direct taxes, Finance Act, 2016 is applicable. CS Executive candidates shall prepare themselves for Assessment Year is 2017-18 (Previous Year 2016-17). 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 December, 2017.
For Indirect Taxes, all changes made by the Finance Act, 2016 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 Dec 2017 Examination.
Applicability of GST in CS Dec 2017:
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 December, 2017 examination.
Accordingly, the syllabus for Part-B of Tax Law and Practice Paper Module – 1 Paper – 4 (30 Marks) for CS Executive Dec 2017 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.
- Questions relating to Service Tax Laws and Value Added Tax will not be asked in December, 2017 exam.
- 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 GST which is relevant for Students appearing in CS executive December 2017 Examination. You may click on download link to download this eBook on GST and prepare for your coming examination of CS Dec 2017.
- Overview of GST
Challenges of Previous Tax Structure
- GST International Scenario
Models of GST
- GST in India
History of GST
Framework of GST
- Introduction to CGST Act, 2017
Levy of GST
Liability under GST
Characteristic of Supply
Schedule I under CGST
Schedule II under CGST
Activities which are not Supply
- Composite and Mixed Supply
- Composition levy
Condition & Restriction
- Time of Supply
Time of Supply of Goods
Time of Supply of Services
Time of Supply in case of change in rate of tax
- Value of Supply
- Input Tax Credit
Input Tax Credit Restrictions
- Job Work
Input Credit in case of Job Work
- Accounts and Records
- Tax Invoice, Credit and Debit Notes
Credit Note & Debit note
Persons liable to register
Persons not liable to register
Utilisation of ITC
- Inspection, Search, Seizure and Arrest
- Introduction to IGST Act, 2017
- Nature of Supply
Inter State Supply
Intra State Supply
Supplies in Territorial Waters
- Place of Supply
Place of Supply of Goods
Place of Supply of Services
- Union Territory Goods and Services Tax Act, 2017
- Introduction to GST ( Compensation to States) Act, 2017
Paper-5 (Company Accounts and Auditing Practices):
- 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.
Paper-6 (Capital Markets and Securities Laws):
Supplement for Capital Markets and Securities Laws – relevant for December, 2017 Examination (For students having 2016 edition of study material). Download Now
In the event of any doubt, CS students may write to the CS Institute for clarifications at firstname.lastname@example.org or feel free to ask any query related to CS Executive Programme examination June 2017 through comment below.