Indirect Tax Laws & Practice

Indirect Tax laws and Practice

CMA Final - Paper 18: Indirect Tax laws & Practice

ICMAI has introduced this paper Indirect Tax Laws & Practice at the CMA Final level where you gain an understanding on various concepts & issues related to Indirect Taxes in the country. You will also develop the skills to help address issues of conflicts of the assesse and their respective tax authorities. 

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Flow of Assessment and Clearance Procedure

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Exemption from E-Way Bill - Goods Based
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Concept of Purpose, Scope and Time of Supply
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More about Indirect Tax laws & Practice

What is “Indirect Tax Laws & Practice”? 

An Indirect Tax is collected by one entity in the supply chain (usually a producer or retailer) and paid to the government, but it is passed on to the consumer as part of the purchase price of a good or service. The consumer is ultimately paying the tax by paying more for the product.  

 

Why has ICMAI introduced this paper, Indirect Tax Laws & Practice, at the CMA Final level?
  • To gain understanding on various concepts & issues related to Indirect Taxes in the Country 
  • Helps in addressing issues of conflicts of the assessee and their respective tax authorities 
What are the topics covered in Indirect Tax Laws & Practice at the CMA Final Level? 
  • GST i.e., Goods and Service Tax Act is the recent drift faced in indirect taxation system of law, and as such occupies a great portion in syllabus and share of marks 
  • Case study analysis stands as an important area to be learnt as final level students are expected have an expert knowledge 
  • Various new small concepts of Customs law and Foreign Trade Policy are the other laws that needs a good understanding 
What is the best approach to study Indirect Tax Laws & Practice paper? 
  • Make your own notes. Your hand-written notes come to the rescue during last minute revision  
  • Study the case laws released for your exam  
  • Solve a good number of problems 
  • Try covering as much as possible in the syllabus; do not resort to selective study  
  • Make sure you are reading all the materials that are applicable to your exam  
  • Solve all Mock papers, revision test papers and Questions for practice released by the institute for GST  
  • You may also take suggested answers of May and Nov -18 exams to prepare for GST  
  • Do NOT ignore Customs Laws and Foreign Trade Policy 
See how CA Praveen Jain and CA Lijil Lakshman teach this paper Indirect Tax Laws and PracticeSign up to get a free trial!
Course Content Available
 
Faculty Estimated Lectures Lectures Available in the Portal
CA Praveen Jain  127 127
CA Lijil Lakshman 35 35
Available Lectures for Indirect Tax laws & Practice
 
Paper 18: Indirect Tax Laws and Practice
Chapters Lectures
Series 1:
Part I: Goods and Service Tax
Chapter 1: GST in India - An Introduction 6
Chapter 2: Charge of GST 2
Chapter 2A: Glossary 4
Chapter 3: Taxable Event - Supply 10
Chapter 4: Reverse Charge 4
Chapter 5: Time of Supply 5
Chapter 6: Value of Supply 9
Chapter 7: Registration 8
Chapter 8: Composition Scheme 4
Chapter 9: Input Tax Credit  15
Chapter 10: Tax Invoice,Credit and Debit Notes 4
Chapter 11: Payment of Tax 2
Chapter 12: Returns 5
Chapter 13: Exemption 10
Chapter 14: E-Way Bill 5
Chapter 15: Accounts & Records 1
Chapter 16: Electronic Commerce 1
Chapter 17: TCS & TDS 1
Chapter 18: IGST (Place of Supply) 13
Chapter 19: Refund 2
Chapter 20: Audit and Assessment  3
Chapter 21: Demand and Recovery 5
Chapter 22: Appeals & Revision 3
Chapter 23: Advance Ruling 1
Chapter 24: Inspection,Search, Seizure & Confiscation 2
Chapter 25: Offences & Penalties 2
Chapter 26: Liability to Pay in Certain Cases  1
Series 1:
Part II: Customs & FTP 
Study Note 1: Customs Law - Basic Concepts 3
Study Note 2: Classification under Customs 1
Study Note 3: Types of Duties 3
Study Note 4: Valuation under Customs 8
Study Note 5: Import & Export Procedure 7
Study Note 6: Warehousing 1
Study Note 7: Duty Drawback 1
Study Note 8: Baggage and Postal Articles 2
Study Note 9: Administrative and Other Aspects 1
Study Note 12: Comprehensive Issues under Customs 2
Study Note 13: Foreign Trade Policy 2015 - 2020 6