ICWA INTERMEDIATE INDIRECT TAXATION
Study Note 1 : Canons of Taxation- Indirect taxes
Basis for Taxation
Direct Taxes and Indirect Taxes
Features of Indirect Tax,
Constitutional Validity
Administration and Relevant Procedures
Study Note 2 : Central Excise Act, 1944
Constitutional Background
Laws Relating to Central Excise
Central Excise Act, 1944
Duties Leviable
Levy, Collection & Exemptions from Excise Duty
Goods
Excisability of Plant & Machinery, Waste and Scrap
Manufacture
Manufacturer
Classification of Goods
Valuation of Goods
Valuation in case of Job Work – Rule 10A
Some Critical Issues in Central Excise
Assessable Value under Section 4
Value Based on Retail Sale Price
MRP Based Valuation
Assessment under Central Excise Law
Procedural Aspects under Central Excise Duty
Refund & Other Important Provisions
Other Procedures in Central Excise
Excise Audit
Warehousing
Export Benefits and Procedures
Excise on Small Scale Industries
Demands and Penalties
Appeals
Important Provisions of Central Excise Act, 1944
Important Provisions of Central Excise Rules, 2002
Important Rules of Central Excise Valuation Rules, 2000
Rules of Classification
Study Note 3 :Cenvat Credit
Background of Cenvat Credit
Highlights of Cenvat Credit Scheme
Utilization of Cenvat Credit
Reversal of Cenvat Credit
Refund of cenvat Credit
Obligation of a manufacturer or Producer of
final Products and a provider of taxable services
Input service Distributor
Documents and Accounts
Other Provisions
Study Note 4 : Customs Law
Section A
IntroductionTypes of Custom
DutyValuation in Customs
Methods of Valuation
Export Goods- Valuation for AssessmentSelf
assessment on basis of ‘Risk Management System’ (RMS)
Procedures for Import
Procedures for Export
Transit and Transhipment of Goods
Exemptions and Remission
Refund of Customs Duty
Appointment of Officers of Customs
Appointment of Customs Station, Warehousing Stations etc.
Central Government Power of Prohibition,
Warehousing in Customs
Provisional Assessment of Duty (Section 18)
Baggage, Courier and Import and Export through Post
Drawback
Other provisions in Customs
Project Imports
Offences, Power and Penalties under Custom
Anti-Dumping Duty-An Overview
Study Note 5 : Exim Policy
Legal Framework and Trade Facilitation
General Provisions Regarding Imports and Exports
Exports from India Schemes
Duty Exemption / Remission Schemes
Exports Promotion Capital Goods (EPCG) Scheme
Export Oriented Units (EOUs), Electronics Hardware Technology Parks (EHTPs),
Software Technology Parks (STPs) and Bio-Technology Parks (BTPs)
Deemed Exports
Quality Complaints and Trade Disputes
Definitions
Study Note 6 : Service Tax
Introduction
Registration Under Service Tax
Reverse Charge
Brand Name of Another Person
Payment of Service Tax [Rule 6]
Rate of Service Tax
Invoices Under Service Tax
Records to be Maintained
Automation of Central Excise and Service Tax (ACES)
Electronic Accounting System in Excise and Service Tax (EASIEST)
Negative List, Exempted Services & Mega Exemptions
Point of Taxation
Taxable Event in Service Tax
Place of Provision of service Rules
Valuation of Taxable Services (Section 67)
Important Issues under Service Tax Provisions
E-Payment of Service Tax
Self Adjustment of Excess Tax Paid
Special Audit
Return
Penalties
Adjudication & Appeals
Study Note 7 : Adjudication,
penalties and appeals in indirect taxes Common Topics in Indirect Taxes
Adjudication in Indirect Taxes
Enforcement Powers of Revenue Officers
Penalties in Indirect Tax Laws
Appeal provisions under Central Excise, Service Tax and Customs
Settlement Commission
Authority for Advance Ruling
Study Note 8 : State Level VAT
Background of State VAT
Basic Principle of VAT
Registration Under VAT
Overview of State VAT
Purchase Tax in VAT or ‘Reverse Change’
Tax Rates Under VAT
Valuation of Taxable Turnover
Procedural Provisions under VAT
Assessment of Tax
Impact of VAT on CST
Role of Cost Accountant under VAT
Agriculatural Products or Commodities
High Seas
Phased out inter-state Sale Tax (i.e Central Sales Tax)
Study Note 9 : Central Sales tax act, 1956
Introduction
Constitutional Provisions & Nexus Theory
Principles & Objects of CST Act, 1956
Definition (Section 2)
Sale or purchase in the course of Interstate Sale (Section 3)
Sale or purchase outside a State (Section 4)
Sale in the course of Export/Import (Section 5)
Person liable to pay CST [Section 6(1) & 6(1A)]
Exemption in respect of Subsequent Sale [Sec 6(2)]
Purchase of Goods by a Registered Dealer [Section 8(3)]
Furnishing of Declaration [Section 8(4)]
Power to Exempt or Impose Tax at Concessional Rates [Section 8(5)]
Sale for units located in Special Economic Zone [Section 8(6)]
Determination of Taxable Turnover (Section 8A)
Levy & Collection of Tax (Section 9)
Penal provisions under CST Act (Section 10)
Imposition of Penalty in Lieu of Prosecution (Section 10A)
Cognizance of Offences (Section 11 & 12)
Goods of Special Importance (Section 14)
Liability of liquidator of company in Liquidation (Section 17)
Liability of Directors of Private Company in liquidation (Section 18)
Central Sales Tax Appellate Authority (Section 19)
Appeal (Section 20)
Procedure on Receipt of Appeal (Section 21)
Powers of the CST Appellate Authority (Section 22 & 23)
Authority for Advance Rulings (Section 24)
Transfer of Pending Proceedings (Section 25)
Applicability of Order Passed (Section 26)
Forms under CST
Study Note 10 : International Taxation and Transfer Pricing
International Taxation and Transfer Pricing – In the contest of Indirect
Taxation – Introduction
International Transaction
Arm’s Length Principle
Transfer Pricing – Classification of Methods
Steps in the process of computing Arm’s Length Price
Transfer Pricing (TP) Study
Transfer pricing issues in the content of Indirect Taxation
Indirect taxation issues in Cross-Border Services
Classification of “Cross-Border Services”