Indirect Tax Laws and Practice (Paper-18) CMA Final Group 4


1. Goods and Services Tax Act & Rules
1.1 Introduction
  • What is GST
  • Need for GST in India
  • Cascading effect of tax
  • Non-integration of VAT and Service Tax causes double taxation
  • No CENVAT Credit after manufacturing stage to a dealer:
  • Cascading of taxes on account of levy of CST Inter-State purchases:
  • The existing Indirect Tax frame work in India suffer from various duties and taxes at
  • Central as well as at State level:
  • Non Availment of Seamless ITC
  • Tedious Process of Issuance and collection of CST Forms and losses suffered due to them
  • Sharing of Data between Centre and States and various Boards
  • One Nation-One Tax
  • Dual GST Model
  • Central Goods and Services Tax Act, 2017 (CGST)
  • State Goods and Services Tax Act, 2017 (SGST)/
  • Union Territory Goods and Services Tax Act, 2017 (UTGST)
  • Integrated Goods and Services Tax Act, 2017 (IGST)
  • Methodology of Flow of Revenue between Centre and States
  • Goods and Services Tax Network (GSTN)
  • The functions of the GSTN (i.e. Role assigned to GSTN)
  • Constitution (101st Amendment) Act, 2016 GST Council
  • Guiding principle of the GST Council
  • Functions of the GST Council
  • Body of GST Law
  • Definitions under CGST Laws
1.2 Levy and Collection of Tax
Scope of supply (Section 7 of CGST Act, 2017)
Section 7(1)(a) all forms of supply of goods or services or both such as sale, transfer, barter, exchange, licence, rental, lease or disposal made or agreed to be made for a consideration by a person in the course or furtherance of business;
Section 7(1)(b) of CGST Act, 2017, import of services for a consideration whether or not in the course or furtherance of business
Section 7(1)(c) of the CGST Act, 2017 the activities specified in Schedule I, made or agreed to be made without a consideration
  •  Permanent transfer/disposal of business assets
  •  Supply between related persons or distinct persons
  •  Supply to agents or by agents
  •  Importation of Services
Section 7(1)(d) the activities to be treated as supply of goods or supply of services as referred to in Schedule II
  • Un-divided share in goods
  • Job work
  • Transfer of business assets
  • Renting of Immovable Property
  • Construction Service 
  • Information Technology software
  • Agreeing to the obligation to refrain from an act, or to tolerate an act or a situation, or to do an act
  • Transfer of the right to use any goods for any purpose
  • Composite supply
  • Supply of goods, by any unincorporated association or body of persons to a member thereof for cash, deferred payment or other valuable consideration.
Non-taxable Supplies under CGST Act, 2017
  •  Section 7(2) (a) activities or transactions specified in Schedule III;
  •  Section 7(2)(b) such activities or transactions undertaken by the Central Government, a State Government or any local authority in which they are engaged as public authorities, as may be notified by the Government on the recommendations of the Council,

Section 7(3) the transactions that are to be treated as—
(a) a supply of goods and not as a supply of services; or
(b) a supply of services and not as a supply of goods.

Composite and Mixed Supplies (Section 8 of CGST Act, 2017)
  •  Meaning of Composite and Mixed Supplies
  •  Composite Supply
  •  Mixed supply
  •  Levy and Collection
  •  Composition Levy Exemption from tax Person liable to pay tax
  • Forward Charge
  • Reverse Charge
  • Person who are required to pay tax under section 9(5) of CGST Act (i.e. Electronic Commerce Operator)
  • Exempt Supply, Non Taxable Supply and Non-GST Supply
  • Rates of GST

1.3 Classification of Goods and Services under GST – Reading the Rate Schedule
1.4 Time of Supply under GST
  • Time of Supply in case of Goods
  • Time of Supply in case of Services
  • Time of Supply in case of change in Rate of Tax
1.5 Value of Supply under GST
1.6 Place of Supply under GST
  • Need for determination of Place of Supply
  • Place of Supply in case of Goods
  • Place of Supply in case of Services
  • Place of Supply in case of Online Information Database Access and Retrieval (OIDAR) Services
1.7 Input Tax Credit
  • Eligibility for taking Input Tax Credit (ITC)
  • Blocked Credits
  • Method of Reversal of Credits
  • Input Tax credit in special circumstances
  • Input Tax Credit in respect of goods sent for Job-Work
  • Distribution of credit by Input Service Distributor (ISD)
  • Recovery of Input Tax Credit
1.8 Registration under GST Law
  • Persons not liable for registration
  • Compulsory registration
  • Concept of Distinct Persons under GST
  • Procedure for registration
  • Deemed registration
  • Casual taxable person
  • Non-resident taxable person
  • Cancellation vs. Revocation of registration
1.9 Tax Invoice, Credit and Debit Notes and other documents under GST
1.10 Accounts, Other Records under GST
1.11 Payment of Tax
  • Computation of Tax liability and payment of tax, Interest on delay payment of tax
1.12 TDS & TCS under GST
  • TDS (Tax Deducted at Source)
  • TCS (Tax Collected at Source)
1.13 Returns
  • Sample of Proposed New Returns under GST
  • GSTR 1
  • GSTR 3B
1.14 Matching Concept under GST
  • What is matching?
  • GSTR 2A
1.15 Exports, Imports and Refunds under GST
  • Export of Goods and Services
  • Import of Goods and Services
  • Zero Rated Supply
  • Deemed Export
  • Refunds in case of Exports
  • Refunds in case of Inverted Duty Structure
  • Cash Ledger Refunds
1.16 Assessments, Inspection, Search & Seizure
1.17 Audit under GST
  • Audit by Revenue Authorities
  • Audit by Professionals
1.18 The Goods and Services Tax (Compensation to States) Act, 2017
1.19 Advance concepts under GST
  • Introduction
  • Demand and recovery, Offence and Penalties
  • Appeals and Revision
  • Advance Ruling
  • Miscellaneous Provisions
1.20 Job Work Under GST
  • Definitions
  • Procedure of Job Work
1.21 E _Waybills under GST
1.22 Transitional Provisions
1.23 Anti-profiteering
1.24 Replying to Department Notices under GST – Sample Cases
1.25 Operation of GST Portal – A Walkthrough

2. Customs Law
2.1 Basic Concepts
  • Introduction
  • Definitions
  • Circumstances of Levy
  • Circumstance under which no duty will be levied
  • Tax Planning v Tax Management
  • Remission/ Abatement of Duty – Pilfered Goods, Damaged or Deteriorated Goods, Lost or Destroyed Goods
  • Derelict, Flotsam etc., Denatured or Mutilated Goods, Re- imported Goods
2.2 Classification under Customs
  • Customs Tariff Act, 1975
  • General Rules for the Interpretation of Import Tariff
2.3 Types of Duties
  • Introduction
  • Types of Duties
  • When can provisional measures are imposed
  • Refund on anti-dumping duty
  • Project Imports and Eligible Projects
2.4 Valuation under Customs
  • Introduction
  • Valuation of Imported Goods : Transaction Value, Related Persons, Valuation in Case
  • Goods are Sold to Related Persons Adjustments for Costs and Services for Valuation of
  • Imported Goods
  • Meaning of Identical Goods, Similar Goods, Transaction Value of Identical Goods and
  • Similar Goods
  • Deductive Value, Computed Value and Residual Method of Valuation
  • Valuation of Export Goods
2.5 Import and Export Procedure
  • Import Procedure
  • Export Procedures
  • Deemed Exports
  • Stores
  • Transit and Transhipment of Goods
  • High Seas Sales
2.6 Warehousing
  • Licensing of Public Warehouses, Private Warehouses and Special Warehouses
  • Warehousing Bond, Warehousing Period, Control Over Warehouse Goods
  • Owner’s Right to Deal with Warehoused Goods
  • Manufacture in Warehouse
  • Removal of Goods from Warehouse
  • Improper Removal of Goods from Warehouse
2.7 Duty Drawback
  • Duty Drawback Allowable on Re- Export of Duty Paid Goods
  • Re- Export of Imported Goods (Drawback of Customs Duties) Rules, 1995
  • Duty Drawback on Imported Materials used in the Manufacture of Goods which are Exported
  • Customs and Central Excise Duties Drawback Rules, 2017
  • Interest on Drawback and Prohibition or Regulation of Duty Drawback
2.8 Baggage & Postal Articles
  • Introduction
  • Baggage
  • Postal Articles
  • Import of Samples
  • Baggage Rules, 2016
2.9 Administrative and other Aspects
  • Introduction
  • Appointment of officers of customs
  • Appointment of customs ports, airports, etc.
  • First & Second Appraisement System
  • Self-assessment of Customs Duty
  • Refund of Customs Duty
  • Risk Management System
  • Penalties under Customs
  • Offences and Prosecutions under Customs
  • Integrated Declaration under Indian Customs Single Window Project
2.10 Customs (Import of Goods at Concessional Rate of Duty) Rules, 2017
2.11 Search, Seizure, Confiscation, and Miscellaneous Provisions
  • Search of Persons, Premises and Conveyances
  • Seizure of Goods, Documents and Things
  • Confiscation of Goods, Conveyances and Penalty on Improper Importation and
  • Exportation
  • Burden of Proof and Redemption Fine
  • Other Miscellaneous Provisions
2.12 Comprehensive Issues under Customs (including Case Studies)
  • Introduction
  • Adjudicating Authority
  • Offences
  • Appeals under Customs
  • Authority for Advance Ruling
3. Foreign Trade Policy (FTP) 2015-2020
  • Basic Concepts of Foreign Trade Policy
  • FTP – Objectives, Administration and Legal Framework
  • FTP – Certain Definitions
  • General Provisions Regarding Imports and Exports
  • Export Promotion Schemes:
  • Merchandise Exports From India Scheme (MEIS)
  • Service Exports From India Scheme (SEIS)
  • Advance Authorization Scheme
  • Duty Free Import Authorization (DFIA) Scheme
  • Export Promotion Capital Goods Scheme (EPCG)
  • EOU, EHTP, STP & BTP Schemes
  •  Deemed Exports
  • Special Economic Zone Scheme (With Amended SEZ Rules)
  • Case Study Analysis