CWA ICWA Intermediate : Group II - Applied Indirect Taxes

ICWAICWA ICWA (2008)InterSyllabus and Books • Group II - Applied Indirect Taxes

ICWA :: Intermediate
Paper 10 : Applied Indirect Taxes
[One Paper: 3 hours:100 marks]

Objective . . .

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 Taxes5%
Features of Indirect Tax. Constitutional validity. Indirect Tax Laws, administration and relevant procedures
2.Central Excise25%
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 laws15%
Basic concepts of customs law;
Territorial waters, high seas;
Types of custom duties., Anti- Dumping Duty, Safeguard Duty;
Customs Procedures, Import and Export Procedures, Baggage.
Warehousing, Demurrage;
Project Imports and Re- Imports;
Penalties and Offences.
Export Promotion Schemes. EOU
Duty Drawback.
Special Economic Zones.
4.Service Tax15%
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;
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 Laws25%

Recommended Books

Indirect Taxes: Law & PracticeTaxmannTaxmann
Central Excise Rules & FormsTaxmannTaxmann
Central Excise MannualR.K.JainCentax Publications
Customs MannualR.K.JainCentax Publications
Central Sales Tax & VATV.S.DateyTaxmann