Syllabus of ICAI
The Institute of
Chartered Accountants of India - Final - Paper 8 - Indirect Tax Laws - Final - 100 Marks (Effective from
November, 2008 – new Syllabus)
Section A: Central Excise (40 marks) - Central Excise Act, 1944 and the related Rules, Circulars and Notifications; Central Excise Tariff Act, 1985 and the related Rules.
Section B: Service tax & VAT (40 marks) - Law relating to service tax as contained in the Finance Act, 1994 as amended from time to time and the related Rules, Circulars and Notifications.
Issues
related to Value Added Tax: - (1) Backdrop for State-Level VAT in India (2) Taxonomy
of VAT (3) Input tax credit, tax invoices
(4) Small dealers and composition scheme
(5) VAT procedures (6) VAT in relation to incentive
schemes, works contract, lease transactions and hire purchase transactions (7)
VAT and Central Sales Tax
Section C: Customs (20 marks) - Customs Act, 1962 and the related Rules, Circulars and Notifications; Customs Tariff Act, 1975 and the related Rules.
While covering the above laws, students should familiarize themselves with the interrelationship of accounting with excise, customs and service tax and also the ethical considerations involved in the compliance of these laws.
Note - If new legislations are enacted in place of the existing legislations relating to central excise, customs and service tax, the syllabus will accordingly include such new legislations in place of the existing legislations with effect from the date to be notified by the Institute. Students shall not be examined with reference to any particular State VAT Law.
It is clarified that in respect of taxable services covered in the syllabus of Paper 8 : Indirect taxes/ Paper 8 :Indirect Tax Laws (old and new syllabus of CA final), students will be examined only in respect of the following taxable services for May 2010 and November 2010 examinations.
· Intellectual Property Services
1. Franchise services
2. Intellectual property services
· Financial services
3. Banking & other financial services
4. Credit rating agency’s services
5. Stock broking services
· Transport of goods services
6. Goods transport agency’s services
7. Courier services
8. Mailing list compilation and mailing services
9. Transport of goods by air services
10. Clearing and forwarding services
11. Cargo handling services
12. Customs house agent’s services
13. Storage and warehousing services
14. Transport of goods through pipeline or other conduit
15. Transport of goods in containers by rail by any person, other than government railway
· Professional Services
16. Practising chartered accountant’s services
17. Management or business consultancy services
18. Consulting engineer’s services
19. Scientific and technical consultancy services
20. Technical testing and analysis services
21. Market research services
22. Opinion poll services
23. Public relations services
· Real estate & infrastructure services
24. Construction services in respect of commercial or industrial buildings or civil structures
25. Construction services in respect of residential complexes
26. Architect’s services
27. Real estate agent’s services
28. Site preparation and clearance, excavation, earthmoving and demolition services
29. Interior decorator’s services
· Business services
30. Business auxiliary services
31. Business support services
32. Manpower recruitment or supply agency’s services
Syllabus for CA IPCC and Accountants Technician from November 2009
Part II: Service tax (25 marks) and VAT (25 marks)
Objective:
To gain knowledge of the provisions of service tax as mentioned below and basic concepts of Value Added Tax (VAT) in India.
Service tax (25 marks)
Contents:
1. Service tax – concepts and general principles
2. Charge of service tax and taxable services
3. Valuation of taxable services
4. Payment of service tax and filing of returns
VAT (25 marks)
5. VAT – concepts and general principles
6. Calculation of VAT Liability including input Tax Credits
7. Small Dealers and Composition Scheme
8. VAT Procedures.
Note: If new legislations are enacted in place of the existing legislations the syllabus will accordingly include the corresponding provisions of such new legislations in the place of the existing legislations with effect from the date to be notified by the Institute. Students shall not be examined with reference to any particular State VAT Law.
It is clarified that in Part –II : Service tax and VAT of Paper 4 : Taxation, students will be examined only in respect of the following taxable services for May 2010 and November 2010 examination.
1. Legal consultancy services
2. Mandap keeper’s services
3. Commercial training or coaching services
4. Information technology software services
5. Services in respect of membership of clubs or associations
CA PCC New
Syllabus from May 2007
Paper
5: Taxation
Part I – Income Tax – Not reproduced here.
Part
II: Service tax and VAT (25 marks)
Objective:
To gain knowledge of the provisions
of service tax as mentioned below and basic concepts of
Value added tax (VAT) in India.
Contents:
1. Service
tax – Concepts and general principles
2. Charge of
service tax and taxable services
3. Valuation
of taxable services
4. Payment
of service tax and filing of returns
5. VAT –
Concepts and general principles.
Note: If
new legislations are enacted in place of the existing legislations the syllabus
will accordingly include the corresponding provisions of such new legislations
in the place of the existing legislations with effect from the date to be
notified by the Institute.
Students shall not be examined with reference to any particular State VAT Law.
It is clarified that in Part –II : Service tax and VAT of Paper 5 : Taxation, students will not be tested on specific questions covering individual taxable services for May 2010 and November 2010 examination.
ICWAI Intermediate - New Syllabus (from December, 2008)
Applied
Indirect Taxes (One Paper: 3 hours:100 marks)
Objectives:
• To
gain knowledge of various provisions of Central Excise, Service tax, VAT &
Sales Tax. • To
know the applications of provisions in different situations •
To understand the
statutory compliance under indirect taxes including audits
1.
Canons of Taxation - Indirect Taxes 5% - •
Features of Indirect Tax.
Constitutional validity. Indirect Tax Laws, administration and relevant
procedures
2.
Central Excise 25% •
The Central Excise Law •
Goods, Excisable goods,
Manufacture and manufacturer, Classification, Valuation, Related Person, Captive
Consumption, CAS 4, CENVAT •
Basic procedures, Export,
SSI, Job Work. • Assessment,
Demands, Refund, Exemptions •
Powers of Officers. •
Adjudication, Appeals,
Settlement Commission, Penalties •
Central Excise Audit and
Special Audit under 14A and 14AA of Central Excise Act •
Impact of tax on GATT 94
WTO, Anti Dumping processing •
Tariff Commission and
other Tariff authorities.
3.
Customs laws 15% •
Basic concepts of customs
law • Territorial
waters, high seas • Types
of custom duties., Anti- Dumping Duty, Safeguard Duty •
Valuation •
Customs Procedures, Import
and Export Procedures, Baggage •
Exemptions •
Warehousing, Demurrage •
Project Imports and Re-
Imports • Penalties
and Offences • Export
Promotion Schemes. EOU •
Duty Drawback. •
Special Economic Zones.
4.
Service Tax 15% •
Introduction, Nature of
Service Tax. • Service
Provider and Service Receiver. •
Registration procedure •
Records to be maintained •
Classification of taxable
services • Valuation
of taxable services. •
Exemptions and Abatements •
Payment of service tax,
Return • Cenvat
Credit Rules • Export
and import of services. •
Other aspects of Service
Tax. • Taxable
Services. • Special
Audit under 14A and 14AA of Central Excise Act
5.
Central Sales Tax Act & VAT Act. 15% •
Introduction, definition
of sale under CST • Stock
transfer, branch transfer under CST •
Inter state sale, •
Various forms for filing
of sales tax returns under CST •
Sales outside territorial
waters under CST • Procedures
• Practical
examples on CST • VAT,
Salient features of State VAT Acts •
Treatment of stock &
branch transfer under State VAT Acts •
Filing & Return under
State VAT Acts • Accounting
& Auditing VAT
6.
Practical problems and Case Studies under Indirect Tax Laws 25%
ICWAI Final -
Indirect & Direct Tax Management (One Paper: 3 hours:100 marks) (Effective
from December, 2008)
Objectives:
• To
gain expert knowledge about the direct and indirect tax laws in force and the
relevant rules and principles emerging from leading cases •
To provide an insight into
practical aspects and apply the provisions of laws to various situations. •
To understand the various
external Auditing Requirements under tax laws.
1.
Central Excise 20%
2.
Customs 10%
3.
Service Tax 10%
4.
Export Promotion Schemes, Foreign Trade Policy, EOU, SEZ. 10 %
5.
Central Sales Tax/ VAT Act 5%
6
Income Tax including Fringe Benefit Tax. 20%
7.
Wealth Tax 5%
8.
Case Studies under Direct and Indirect Taxes. 20%