THE INSTITUTE OF
Company Secretaries of India
IN PURSUIT OF PROFESSIONAL EXCELLENCE
Statutory boby under an Act of Parliament
We are pleased to inform you about the introduction of Goods & Services Tax (GST) in the Taxation Curriculum of CS Professional Programme under Part B of “Advance Tax Laws and Practice” (Module 3 Paper 7) for December 2017 Examination. GST has been made applicable for knowledge enhancement and updation of students and to equip them in the new indirect taxation regime.
The applicability of GST for examination purposes is limited only to the four Acts and no Rules will be included in the course. A
Supplement on GST shall soon be uploaded on the ICSI website which will be self contained from Examination point of view.
We will be organizing webinars regularly for updating the students about nuances of GST. Also, a crash course will be launched for students in October, for those interested.
We wish to share with you the following Notification, as available on ICSI Website :
With kind regards,
Director of Studies
July 21, 2017
Date: 18th July, 2017
Applicability of GST in December, 2017 Examination
FOR STUDENTS APPEARING IN DECEMBER, 2017 EXAMINATION
With the implementation of Goods & Services Tax w.e.f July 1,2017, the students of Professional Programme are hereby notified that the selected topics of Part B of the syllabus for “Advance Tax Laws and Practice” (Module 3 Paper 7) of Professional Programme has been replaced with Goods and Services Tax (GST) for December, 2017 examinations.
The syllabus of Part B (70 Marks) of Advance Tax Law and Practice Paper (Module – 3 Paper– 7) for Professional Programme for December, 2017 exam shall be as under:
PART B: CUSTOMS LAWS & GOODS AND SERVICE TAX (70 MARKS) CUSTOMS LAWS
Special Features of Indirect Tax Levies – All Pervasive Nature, Contribution to Government Revenues; Constitutional Provisions Authorizing the Levy and Collection of Customs
2. Customs Laws
3. Promissory Estoppel in Fiscal Laws – Principles and Applicability with reference to Indirect Taxes
4. Tax Planning and Management – Scope and Management in Customs, with Specific Reference to important Issues in the Respective Areas
GOODS AND SERVICE TAX
a.) The Central GST Act,2017
b.) The Integrated GST Act,2017
c.) The Union Territory GST Act,2017
The rules relating to GST regime shall not be applicable for December, 2017 exam.
Note: 1. Questions relating to Central Excise Laws, Service Tax Laws and Value Added Tax will not be asked in December, 2017 exam.
2. There is no change in the syllabus of Part A – Direct Tax Management (30 Marks) of Advance Tax Laws and Practice Paper (Module – 3 Paper –7) of Professional Programme.
*Supplement relating to Indirect Tax covering the Customs Laws & Goods and Service Tax “GST” will be uploaded at ICSI website under academic corner shortly.