This is the important notification for CA Final students. Due to implementation of GST from 1st July 2017 in India, There are few changes in CA Final Indirect Tax Syllabus of November 2017 attempt. Also visit : CA Final Applicable Amendments, Standards, Notes for Nov 2017
Considering the significance of the upcoming GST regime and the recent developments towards its implementation, the Council of ICAI, at its 365th meeting, has decided that students appearing in November, 2017 final examination be also examined on “Overview of GST” for 10 marks in Paper 8: Indirect Tax Laws.
Also check : Valuation rules under GST
“Overview of GST” has been included in the syllabus of Final Paper 8: Indirect Tax Laws in the following manner:
- 10 marks on “Overview of GST” has been accommodated in Section B: Service Tax (which presently carries 50 marks) with simultaneous exclusion of certain topics from central excise and service tax:The syllabus of Final Paper 8: Indirect Tax Laws after incorporating “Overview of GST” for 10 marks is given as Annexure A. The exclusions from central excise and service tax are given as Annexure B.
- Overview of GST will be tested in the examination in first compulsory question carrying 20 marks and only knowledge and comprehension based question will be asked from this topic. Thus, out of 20 marks allotted to the compulsory question, 10 marks will be allocated to Overview of GST and remaining 10 will be allocated to central excise and customs.
- “Overview of GST” will cover an introduction to GST laws in India and basic concepts relating to supply, composite and mixed supplies and charge of tax.
The Supplementary Study Paper on “Overview of GST” covering the content to be examined in November, 2017 final examination for 10 marks is hosted on the ICAI website at the following link:
PAPER 8 : CA Final Indirect Tax Laws Revised Syllabus for Nov 2017
(One paper – Three hours – 100 marks)
Section A: Central Excise (25 marks)*
Central Excise Act, 1944 and the Central Excise Tariff Act, 1985
Section B: Service Tax & Goods and Services Tax (50 marks)
I. Service Tax (40 marks)*
Law relating to service tax as contained in the Finance Act, 1994 as amended from time to time
II. Overview of GST (10 marks)
GST in India: An Introduction
Basic Concepts – Supply, Composite and Mixed supplies, Charge of tax
Section C: Customs (25 marks)
Customs Act, 1962 and Customs Tariff Act, 1975 and Foreign Trade Policy to the extent relevant to indirect tax laws
(1) With respect to Overview of GST as covered in Section B: Service Tax and Goods and Services Tax, only a working level of knowledge is expected from students. If any new legislation(s) is enacted in place of existing legislations relating to central excise, customs and se rvice tax, the syllabus will accordingly include such new legislation(s) in place of the existing legislations with effect from the date to be notified by the Institute. Similarly, if any existing legislation ceases to have effect, the syllabus will accordingly exclude such legislation with effect from the date to be notified by the Institute.
*(2) On account of inclusion of Overview of GST in the syllabus, certain topics have been excluded from central excise and service tax which have been notified separately. Students will not be examined with reference to the provisions relating to any of those excluded topics.
EXCLUSIONS FROM CENTRAL EXCISE AND SERVICE TAX
Section A: Central Excise (25 Marks)
- Chapter 12 – Warehousing provisions under central excise
- Chapter 14 – Notifications, Departmental Clarifications and Trade Notices
- Chapter 16 – Organisation structure of the Excise Department
- Chapter 18 – Settlement Commission
Section B: Service Tax (40 Marks)
(i) Chapter 6: Service Tax Procedures – Point 6.6 – Filing of Returns, Point 6.7 – Large Tax Payer
Note: Chapters of the following publications corresponding to the Chapters of the Study Material (given above), if any, will also be consequently excluded for November, 2017 examination:
- Practice Manual [December, 2016 Edition]
- Select Cases in Direct and Indirect Tax Laws – 2016
- Supplementary Study Paper-2016
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