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CS Executive Amendments and Updates for Dec 2017 Exams

Download relevant amendments and updated notes of all papers applicable for CS Executive/ Inter Dec 2017 term of examinations conducted by ICSI.

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.

Note:

  1. Questions relating to Service Tax Laws and Value Added Tax will not be asked in December, 2017 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 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.

Download eBook on GST by ICSI

  1. Overview of GST
    Introduction
    Challenges of Previous Tax Structure
  2. GST International Scenario
    Models of GST
  3. GST in India
    History of GST
    GST Council
    Framework of GST
  4. Introduction to CGST Act, 2017
    Important Definitions
    Levy of GST
    Liability under GST
  5. Supply
    Characteristic of Supply
    Schedule I under CGST
    Schedule II under CGST
    Activities which are not Supply
  6. Composite and Mixed Supply
  7. Composition levy
    Meaning
    Condition & Restriction
  8. Time of Supply
    Time of Supply of Goods
    Time of Supply of Services
    Time of Supply in case of change in rate of tax
  9. Value of Supply
  10. Input Tax Credit
    Meaning
    Input Tax Credit Restrictions
  11. Job Work
    Meaning
    Input Credit in case of Job Work
  12. Accounts and Records
  13. Tax Invoice, Credit and Debit Notes
    Invoice
    Credit Note & Debit note
  14. Registration
    Persons liable to register
    Persons not liable to register
  15. Returns
  16. Payment
    Utilisation of ITC
  17. Refunds
  18. Assessment
  19. Audit
  20. Inspection, Search, Seizure and Arrest
  21. Introduction to IGST Act, 2017
    Important definitions
  22. Nature of Supply
    Inter State Supply
    Intra State Supply
    Supplies in Territorial Waters
  23. Place of Supply
    Place of Supply of Goods
    Place of Supply of Services
  24. Union Territory Goods and Services Tax Act, 2017
  25. 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 academics@icsi.edu or feel free to ask any query related to CS Executive Programme examination June 2017 through comment below.

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One Response to CS Executive Amendments and Updates for Dec 2017 Exams

  1. Isha says:

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

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