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GST Applicability in CS | Changes in CS Exam due to GST applicabilty

[Updated Dec 2020] An investment in knowledge pays the best interest and change is a part and parcel of it.Law is a healing profession, while medicine heals the body and clergy heals the Souls, Law heals the social rifts. Goods and Service tax is one such important law taken up by the Indian Economy which is essential to be known as Company Secretary Students. Here, we are providing some information regarding GST Applicability in CS.

Goods and Service tax (GST) will be applicable for the CS exam which will be conducted in the month of December. GST applicability in CS will be for the professional as well as the Professional Programme. With the implementation of GST from July 1st 2017 all the students have to appear for the GST in CS examinations. GST in the CS examination has been made applicable for the students so as to enhance and update their knowledge regarding the new indirect taxation regimes. The GST applicability will be only limited to four Acts and no rules will be included in the course.

GST Applicability in CS

In the curriculum of the CS Executive programme GST will be under the Part B of the Advanced Tax Law and Practices in the Module 1- Paper 4. The subject Tax Law and Practice Paper will be replaced by the GST for the December 2017 CS examination. The broad categorisation of the GST part in the Executive Programme consisting of 30 marks are The Central GST Act 2017, The Integrated GST Act 2017, The Union Territory GST Act 2017 and the GST (Compensation to states) Act 2017. Ther will be no changes in the Part A of the Income Tax paper in the Module 1 of the Executive Programme. The questions related to Service Tax and Value Added tax will not be asked in the CS examination.

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So, for the students applying for the Professional programme there will be applicability of GST in tax subjects. The selected topics of Part B of the syllabus for Advanced Tax Laws and Practices (Module 3-Paper 7) of the professional programme will be replaced with the Goods and Service Tax (GST) in the CS examination. The rules regarding the GST will not be applicable for the December exam .All the questions related to Central Excise Laws, Service tax laws and Value Added Tax will not be asked for the CS December 2017 examination.

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Also, Supplementary e-books for the executive and the Professional program will be uploaded In the website of Institute of Company Secretary (ICSI) in a short period of time. The CS Executive Programme new syllabus will have a total of 30 marks for Goods and Service Tax under the tax subject “Tax Laws and Practices”. The CS Professional Programme will appear it for 70 marks for Goods and Service Tax under the tax subject “Advanced Tax Laws and Practices”.

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