Advanced Tax Laws (CSP Paper-2) CS Professional Mod-1


Paper 2: Advanced Tax Laws (Max Marks 100)
Part I :
To acquire expert subject knowledge, interpretational skills and practical application on Customs and GST Laws.
Part II :
To acquire expert knowledge on practical application of Corporate taxation including International Taxation.
Detailed Contents
Indirect Taxes (70 Marks)
Part I: GST and Customs Laws
 1. An Overview on Goods and Services Tax ‘GST’: Introduction; Constitutional Aspects & Administration; GST models; Levy and collection of CGST and IGST; Composition scheme & Reverse Charge, Exemptions.
2. Supply: Meaning& scope, types of supply (composite/mixed inter/ intra); Time, Place and Value of Taxable Supply; Import and Export of Goods or Services under GST, Classification of Goods and Services; Job work provisions, agency contracts, e-commerce & TCS.
3. Input Tax Credit & Computation of GST Liability: Input tax credit; Computation of GST liability.
4. Procedural Compliance under GST: Registration; Tax Invoice, Debit & Credit Note, Account and Record, Electronic way Bill, Payment of Tax, TDS, Returns & Refund, Valuation, Audit & Scrutiny; Assessment.
5. Demand and Recovery, Advance Ruling, Appeals and Revision.
6. Inspection, search, seizure, offences & penalties.
7. Compliance rating, anti-profiteering, GST practitioners, authorised representative, professional opportunities.
8. Integrated Goods and Service Tax (IGST).
9. Union Territory Goods and Service tax (UTGST).
10. GST Compensation to States.
11. Industry/ Sector Specific Analysis.

Customs Law (10 Marks)
12. Basic Concepts of Customs Law: Introduction; Levy and collection of customs duties; Taxable Events; Custom duties.
13. Valuation & Assessment of Imported and Export Goods & Procedural Aspects: Classification and Valuation of Import and Export Goods; Assessment; Abatement and Remission of Duty; Exemptions; Refund and recovery.
14. Arrival or Departure and Clearance of Goods, Warehousing, Duty Drawback, Baggage and Miscellaneous Provisions: Arrival and departure of goods; Clearance of Import and Export Goods & Goods in Transit; Transportation and Warehousing provisions; Duty Drawback provisions, Baggage Rules & provision related to prohibited goods, notified goods, specified goods, illegal importation / exportation of goods.
15. Advance Ruling, Settlement Commission, Appellate Procedure, Offences and Penalties: Advance Ruling; Appeal and Revision; Offences and Penalties; Prosecution; Settlement of Cases.
16. Foreign Trade Policy (FTP) to the extent relevant to Indirect tax: Export promotion scheme under FTP; Salient features, administration &Other miscellaneous provisions.
Case Laws, Case Studies & Practical Aspects.

Part II: Direct Tax & International Taxation (30 Marks)
15. Corporate Tax Planning & Tax Management: Tax Planning, Tax Management; Tax Avoidance v/s Tax Evasion; Areas of Corporate Tax Planning; Tax Planning Management Cell.
16. Taxation of Companies, LLP and Non-resident: Tax incidence on Companies including foreign company; Minimum Alternate Tax ‘MAT’; Dividend Distribution Tax; Alternate Minimum Tax ‘AMT’; Tax incidence on LLP; Taxation of Non-resident Entities.
17. General Anti Avoidance Rules ‘GAAR’: Basic concept of GAAR; Impermissible avoidance arrangement; Arrangement to lack commercial substance; Application of GAAR Rule; GAAR v/s SAAR.
18. Basics of International Taxation
  • Transfer Pricing: Introduction & Concept of Arm’s Length Price; International and Specified Domestic Transaction;Transfer Pricing Methods; Advance Pricing Agreement & Roll Back Provision; Documentation and Return. 
  • Place of Effective Management (POEM): Concept of POEM; Guidelines of determining POEM.
  • 19. Tax Treaties.
    20. Income Tax Implication on specified transactions: Slump Sale; Restructuring; Buy Back of shares; Redemption of Preference shares; Issue of shares at Premium; Transfer of shares; Reduction of share Capital; Gifts, cash credits, unexplained money, investments etc.
    Case Laws, Case Studies & Practical Aspects.