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. 

Flow of Assessment and Clearance Procedure

Exemption from E-Way Bill - Goods Based
Concept of Purpose, Scope and Time of Supply
Safeguard Duty, Exemption
Paper 13
Paper 14
Paper 15
Paper 16
Paper 17
Paper 19
Paper 20
December 2017
June 2017
June 2018
December 2018

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