CA Syllabus by ICAI for (May 2022)
For those interested in pursuing a career in Commerce or any other stream, chartered accounting is one of the greatest possibilities.
It is a well-paid occupation. It is a very good career option for individuals who are interested in the field of taxation and accounting. The road to becoming a chartered accountant is arduous and difficult. It is almost a five-year program. The ICAI offers a variety of tests for students at various levels. The ICAI also prepares the CA syllabus for the CA exams. There are three levels of examination held by ICAI for the students. These three levels are CA foundation, CA Intermediate, and CA Final. Only when students clear all these three levels of exam, then they are considered professional chartered accountants.
A student’s minimal qualification to join CA is a +2. When a student joins CA after finishing +2, he or she must practice for the first level of the exam. Students take the foundation exam at this level of the exam. Students move on to the second level, CA Intermediate, after completing the first. Exams are divided into two groups at this level: group 1 and group 2. This is the most difficult level of CA. Students then take the third level of the exam, which certifies them as professional CAs. To know more about CA exams, CA exam syllabus, and difficulty level CA, you have to go with the flow of the article.
CA Course Overview
Being a Chartered Accountant is a difficult process because an individual must pass all three levels of examinations. The ICAI has established several eligibility criteria for admission to the CA program
Students can enroll in the CA program after passing the +2 test, and then register for the CA foundation exam. This is the preferred method of admission to the CA program. Those who choose to pursue CA after graduation should enroll in the CA Intermediate level, which is the best option. Candidates in the commerce stream must have a 55 percent grade point average, while students in other streams must have a 60 percent grade point average.
Students must complete the requirements listed above in order to appear at the CA Intermediate level.
Chartered Accountancy is mostly concerned with studies such as budgeting, market research, and managing an organization’s working capital.
Here is some important information about the chartered accounting course.

CA Course structure
There are different levels of the CA Exam, as previously mentioned.
The following are the three levels:
Foundation Level
Intermediate Level
Final Level
The Foundation exam is the first step to becoming a CA. Students who want to pursue a career as a Charted Accountant after finishing their +2 test should take the Foundation level exam. This exam is held twice a year by the ICAI. The first exam will take place in May, and the second exam will take place in November. The first level takes four months to complete. The ICAI has set the Foundation Level exam course fees at Rs.9200.
Candidates are eligible to register for the CA intermediate level after passing the foundation level.
The exam is divided into two sections. Candidates who intend to take the CA exam after graduation can now register for the Intermediate level. This level has an eight-month course period. This is a particularly challenging level of examination. This exam is likewise held twice a year, once in May and again in November, by the ICAI. The examination has a fee structure of Rs.18000.
Students must pass the first two levels of the exam before proceeding to the third and final levels. Articleship training takes place during the time between the two preceding tests. A student can apply for membership after passing the final exam.
A candidate becomes a professional Chartered Accountant after that. In May and November of each year, the final level exam is given. The final level has a three-year length. Registration, a three-year course, and training are all included. The price for the final level exam is Rs.22000.
To become a professional chartered accountant, the candidate must pass all of the ICAI’s exams Levels and get training. The complete course was established by the Institute of Chartered Accountants of India to generate efficient chartered accountants every year.
CA Foundation Syllabus
CA Foundation syllabus includes four subjects. The candidate must have to clear all these four papers to qualify for the exam. The CA foundation syllabus 2021 PDF download is available on ICAI’s official site. The four papers for the CA foundation exam, as per the CA syllabus 2022, are:
Paper 1- Principle and Practice of accounting
This is a total 100 mark paper. A candidate must have a secure 40% mark to clear this paper. Topics of paper 1.
Theoretical Framework
Accounting Process
Preparation of Trial Balance
Rectification of Errors etc.
Bank Reconciliation Statements
Inventories
Concepts and Accounting for Depreciation
Accounting for Special Transactions
Final Accounts of Sole Proprietors
Partnership Accounts
Financial Statements of Not-For-Profit Organizations.
Introduction to the Company Accounts
Paper 2- Business law, business correspondence, and reporting
This paper has two parts. Part 1 comprises Business Law, which carries 60 marks and part 2 comprises Business Correspondence and Reporting, which has to carry 40 marks. Topics of paper 2
The Indian Contract Act, 1872
The sale of Goods Act, 1930
The Indian Partnership Act, 1932
The Limited Liability Partnership Act, 2008
The Companies Act, 2013
Section 2
Part – 1 Communication
Part -2 Sentence Types and Word Power
Sentence types (Direct, Indirect, Active-Passive Speech)
Vocabulary Root Words, Synonyms, Antonyms, Prefixes, Suffixes, Phrasal verbs, Collocations & Idioms.
Part -3 Comprehension Passages and Note Making
Comprehension Passages
Note Making
Part -4 Developing writing Skills
Introduction to Basic writing
Précis Writing
Article Writing
Report Writing
Writing Formal Letters
Writing Formal Mails
Resume Writing
Meetings
Paper 3- Business Mathematics and Logical Reasoning & Statistics
Paper 3 has 3 parts, and each part carries distinct marks Topics for paper 3
SECTION – A Business Mathematics
Topics covered are-
Ratio and Proportion, Indices and Logarithms
Equations
Linear Inequalities with Objective Functions and Optimization w.r.t. objective function.
Time value of Money
Permutations and Combinations
Sequence and Series
Sets, Relations, and Functions
Basic applications of Differential and Integral calculus
SECTION – B Logical Reasoning
Number series, Coding, and Decoding, and the odd man out.
Direction Tests
Seating Arrangements
Blood Relations
SECTION – C Statistics
Statistical description of Data
Measures of Central tendency and Dispersion
Probability
Theoretical Distributions
Correlation and Regression
Index Numbers
Paper 4- Business Economics & Business and Commercial Knowledge
This paper has two parts. topics for paper 4
SECTION – A Business Economics
Topics covered in this section include-
Introduction to Business Economics
Theory of Demand and Supply
Theory of Production and Cost
Price Determination in Different Markets
Business Cycles
SECTION – B Business and Commercial Knowledge
Topics covered in this subject are-
Business and Commercial Knowledge – An Introduction
Business Environment
Business Organizations
Government Policies for Business Growth
Organizations Facilitating Business
Common Business Terminologies
CA Intermediate Syllabus
The intermediate level of CA has 8 subjects. There are two groups at this level. A candidate faces four papers in the first group of the exam and four papers in the second group. CA applicants must pass the intermediate level in order to proceed to the final terms. According to the ICAI CA syllabus, a student has eight months to complete all of these subjects. Here is the first group’s paper.
Paper 1- Accounting
This paper comprises 100 marks. And a student gets 3 hours to complete this paper. The candidate must have secured a 40% mark for this paper.
Topics covered in this Subject are-
Process of formulation of Accounting Standards including Ind ASs (IFRS converged standards) and IFRSs; convergence vs adoption; objective and concepts of carve-outs.
Framework for Preparation and Presentation of Financial Statements (as per Accounting Standards)
Application of Accounting Standards
Company Accounts
Accounting for Special Transactions
Special Type of Accounting
Dissolution of partnership firms including piecemeal distribution of assets; Amalgamation of partnership firms; Conversion of partnership firm into a company and Sale to a company; Issues related to accounting in Limited Liability Partnership.
Paper 2- Corporate and Other Laws.
This paper has 2 parts. One is company law, and another is other laws. These 2 parts carry 50 marks each.
SECTION – A Company Law
Topics covered in this Section are –
Preliminary
Incorporation of Company and Matters Incidental thereto
Prospectus and Allotment of Securities
Share Capital and Debentures
Acceptance of Deposits by companies
Registration of Charges
Management and Administration
Declaration and Payment of Dividend
Accounts of Companies
Audit and Auditors
Note- Students shall also note that sections of the Companies Act, 1956 which are still in force will form part of your syllabus.
SECTION – B Other Laws
Laws covered in this section are –
The Indian Contract Act, 1872
The Negotiable Instruments Act, 1881
The General Clauses Act, 1897
Interpretation of Statutes.
Paper 3- Cost and management accounting
This paper also consists of 100 marks.
Topics covered under cost and management accounting are-
Overview of Cost and Management Accounting
Introduction to the Cost and Management Accounting.
Elements of cost and preparation of cost sheets.
Ascertainment of Cost and Cost Accounting System.
Material Cost
Employee Cost
Direct Expenses
Overheads
Concept of ABC analysis
Recording and Accounting of Costs
Methods of Costing –
Single Output/ Unit Costing
Job Costing
Batch Costing
Process / Operation Costing
Costing of Service Sectors
Cost Control and Analysis
Standard Costing
Marginal Costing
Budget and Budgetary control.
Paper 4- Taxation
This paper is divided into two sections. In section one income tax law has 50 marks and in section two indirect taxes have 50 marks also.
SECTION – A Income Tax
This section covers topics like-
Basic concepts
Residential status and scope of total income
Income that does not form part of the total income
Heads of Income and computation of Income under various heads-
Salaries
Income from House Property
Income from Business and Profession
Capital Gains
Income from other sources
Income of other person included in assessee’s total income
Aggregation of Income, Set off or Carry forward and set off of losses.
Deduction from the Gross Total Income
Computation of total income and tax liability of individuals.
Advance Tax, Tax deduction at source, and Introduction to Tax Collection at Source
Provisions for filing return of Income and Self-Assessment.
SECTION – B Indirect Taxes
Topics covered under this head are-
Concept of indirect taxes
Concept and features of indirect taxes
Principal indirect taxes
Goods and Services Tax (GST) Laws
GST Laws: An introduction including Constitutional aspects
Levy and collection of CGST and IGST
Application of CGST / IGST law
Concept of supply including composite and mixed supplies
Charge of tax
Exemption from tax
Composition levy
iii. Basic concepts of time and value of supply
Input tax credit
Computation of GST liability
Registration
vii. Tax invoice; Credit and Debit Notes; Electronic waybill
viii. Returns
Payment of tax including reverse charge
This is the entire syllabus of Group – 1 in Intermediate.
In group two of CA intermediate 4 papers are available. These are follows
Paper 5- Advanced accounting
This paper consists of 100 marks. A candidate should have to secure 40% to clear the paper.
Topics Covered by this Subject are-
Application of Accounting Standards. (AS – 7,9,14,18,19,20,24,26,29)
Application of Guidance Notes issued by the ICAI on specific accounting aspects.
Special aspects of Company Accounts.
Reorganization of Companies.
Financial Reporting of Banking, Financial Services, and Insurance.
Valuation of Goodwill.
Consolidated Financial Statements.
6- Auditing and Assurance
This is the paper on auditing. In this paper, students face 100 marks for exams in 3 hours.
Topics covered in this subject are as follows –
Nature, Objective, and Scope of Audit.
Auditing Concepts.
Standard Setting Process.
Engagement Standards
Audit Strategy, Audit Planning, and Audit Programme.
Audit Documentation and Audit Evidence
Risk Assessment and Internal Control.
Fraud and Responsibilities of an Auditor in this regard.
Audit in an Automated Environment.
Audit Sampling.
Analytical Procedures.
Audit of Items of Financial Statements.
The Company Audit
Audit Report
Audit of Banks
Audit of Different Types of Entities.
Paper 7- enterprise information systems and strategic management
This paper is divided into two sections one is enterprise information system and another is strategic management. These two sections carry 100 marks.
SECTION – A Enterprise Information Systems
Topics covered in the above section are as follows –
Automated Business Processes
Financial and Accounting Systems.
Information Systems and its Components.
E-Commerce, M-Commerce, and Emerging Technologies.
Core Banking Systems.
SECTION – B Strategic Management
Topics covered by this section are as follows-
Introduction to Strategic Management.
Dynamics of Competitive Strategy.
Strategic Management Process.
Corporate-level strategies.
Business Level Strategies.
Functional Level Strategies.
Organization and Strategic Leadership.
Strategy Implementation and Control.
Paper 8- Financial Management and Economics for Finance
This paper also has two sections. One is financial management and another is Economics for Finance. This paper carries 100 marks also.
SECTION – A Financial Management
Topics covered under this section are –
Financial Management and Financial Analysis.
Introduction to the Financial Management Functions
Financial Analysis through Ratios
Financing Decisions
Sources of Finance
Lease Financing
Cost of Capital
Capital Structure Decisions
Leverages
Capital Investment and Dividend Decisions
Capital Investment Decisions
Adjustment of Risk and Uncertainty in Capital Budgeting Decision
Dividend Decisions
Management of Working Capital
These are the topics that you will study in-depth under this section.
SECTION – B Economics for Finance
Topics covered under this section are as follows-
Determination of National Income
Public Finance
The Money Market
The International Trade
This is the entire course at the Intermediate Level of CA Course.
The CA intermediate exam consists of 800 marks for the entire subject. This level of CA is difficult. So students have to put much attention to this level of exam.
CA Final Syllabus
The ICAI publishes the CA course syllabus so that students are aware of the exam’s courses and issues. The CA final exam is the final stage toward becoming a Chartered Accountant. If a candidate wants to become a professional CA, he or she must pass all three levels of the exam. CA’s final exam comprises eight subjects. This exam is divided into two groups by the ICAI.
The first group is made up of:
Paper 1: Financial Reporting
This paper carries 100 marks. And it takes 3 hours to complete the exam.
Topics covered in this subject at the Final level are-
Application of Existing Accounting Standards (AS 15,21,23,25,27,28)
(You will also be required to apply other accounting standards if applicable in other questions).
Application of Guidance Notes issued by the ICAI on Specified Accounting Aspects.
Framework for the preparation and presentation of Financial Statements.
Application of Indian Accounting Standards (IND AS).
Consolidated and Separate Financial Statements (as per IND AS)
Application of Industry-specific and Transaction-specific Indian Accounting Standards.
Business Combinations and Accounting for Corporate Restructuring/ Demerger (As per IND AS).
Accounting and Reporting of Financial Instruments (As per IND AS).
Accounting for Share-Based Payments. (As per IND AS)
Analysis of Financial Statements.
Accounting for Carbon Credits
Accounting for E-Commerce
Emerging trends in Reporting.
Paper 2: Strategic Financial Management
This paper also carries 100 marks.
Topics covered under this subject are as follows –
Financial Policy and Corporate Strategy.
Indian Financial System.
Risk Management.
Security Analysis.
Security Valuation
Portfolio Management.
Securitization
Mutual Funds
Derivatives Analysis and Valuation.
Foreign Exchange Exposure and Risk Management.
International Financial Management.
Interest Rate Risk Management
Corporate Valuation
Mergers, Acquisition, and Corporate Restructuring.
International Financial Center (IFC).
Startup Finance
Small and Medium Enterprises
Paper 3: Advanced Auditing and Professional Ethics
This paper also carries 100 marks.
Topics Covered in this Subject are as follows-
Auditing Standards, Statements, and Guidance Notes
Audit Planning, Strategy, and Execution.
Risk Assessment and Internal Control.
Special Aspects of Auditing in an Automated Environment.
Audit of Limited Companies.
Audit Reports.
Audit Reports and Certificates for Special Purpose Engagements.
Audit Committee and Corporate Governance.
Audit of Consolidated Financial Statements.
Special Features of audit of Banks, Insurance, and Non-Banking Financial Companies.
Audit under Fiscal Laws.
Special Audit Assignments.
Audit of Public Sector Undertakings.
Liabilities of Auditors.
Internal Audit, Management, and Operational Audit.
Due Diligence, Investigation, and Forensic Audit.
Peer Review and Quality Review.
Professional Ethics.
Paper 4: Corporate and Economic Laws
This paper has two parts. One is corporate law and another is economic law. These two parts carry 100 marks.
PART – 1 CORPORATE LAW
This is further divided into two sections one is Company Law and the other one is Securities Law.
SECTION – A Company Law
The objective behind this subject is to acquire the ability to analyze, interpret and apply the provisions of Company Law in practical situations.
Topics Covered under Company Law are as follows –
Companies Act, 2013
Appointment and Qualification of Directors.
Appointment and Remuneration of Managerial Personnel.
Meetings of Board and its Powers.
Inspection, Inquiry, and Investigation.
Compromises, Amalgamations, and Arrangements.
Prevention of Oppression and Mismanagement.
Winding Up.
Producer Companies.
Companies incorporated outside India.
Miscellaneous Provisions.
Compounding of Offences, Adjudication, and Special Courts.
National Company Law Tribunal and Appellate Tribunal.
Corporate Secretarial Practice
Drafting notices, Resolutions, Minutes.
Note – The students should also note that the provisions of the Companies Act, 1956 which are still in force would form part of your syllabus till their corresponding sections are not enforced in the Companies Act, 2013.
SECTION – B Securities Law
The objective behind this section is to acquire the ability to analyze the significant provisions of select securities laws.
Topics covered under this head are as follows-
The Securities Contract (Regulation) Act, 1956 and Securities Contract (Regulation) Rules, 1957. Introduction and Important Provisions.
The Securities Exchange Board of India Act, 1992, SEBI (Issue of Capital and Disclosure Requirements) regulations, 2009, and SEBI(Listing Obligation and Disclosure Requirements) Regulations, 2015.
PART – 2 ECONOMIC LAWS
Topics covered in this part are –
The Foreign Exchange Management Act, 1999.
The Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002.
The Prevention of Money Laundering Act, 2002.
Foreign Contribution Regulation Act, 2010.
The Arbitration and Conciliation Act, 1996.
The Insolvency and Bankruptcy Code, 2016.
Group 2 papers
Paper 5: Strategic Cost Management and Performance Evaluation
This is the paper on auditing. In this paper, students face 100 marks for exams in 3 hours.
The subject is divided into three categories-
Strategic Cost Management and Decision Making.
Strategic Cost Management
Strategic Decision Making
Performance Evaluation and Control.
Performance Evaluation and Reporting.
Managerial Control.
Case Studies (Covering course Concepts)
PART – 1 STRATEGIC COST MANAGEMENT AND DECISION MAKING
SECTION – A Strategic Cost Management
Topics covered by the above section are –
Introduction to Strategic Cost Management.
Modern Business Environment.
Learn System and Innovation.
Cost Management Techniques.
Cost Management for Specific Sectors.
SECTION – B Strategic Decision Making
Decision Making
Pricing Strategies / Decisions
PART – 2 PERFORMANCE EVALUATION AND CONTROL
SECTION – A Performance Evaluation and Reporting
Performance Measurement and Evaluation
Divisional Transfer Pricing
Strategic Analysis of Operating Income.
SECTION – B Managerial Control
Budgetary Control
Standard Costing
SECTION – C Case Studies
It covers the Course Concepts
Note- Apart from the above topics application of the following Quantitative Techniques are required to be studied to link to course concepts –
Linear Programming
Learning Curve / Experience Curve.
Paper 6: Elective Paper
This is an elective paper. So candidates can select one of the under elective papers
6A Risk Management, 6B Financial Services, and Capital Markets, 6C International Taxation, 6D Economic Laws, 6E Global Financial Reporting Standards, 6F Multi-disciplinary Case Study
PAPER – 6A RISK MANAGEMENT
The objective behind introducing this subject to CA Curriculum is to gain an understanding of the risk faced by the businesses and to learn techniques for managing such risks.
To build capacity for applying such learning to address risk-related issues in real business scenarios.
Topics Covered –
Introduction to Risk
Source and Evaluation of Risks.
Risk Management.
Quantitative Analysis
Risk Model
Credit Risk Measurement and Management.
Risk Associated with Corporate Governance.
Enterprise Risk Management.
Operational Risk Management.
The following topics covered in SFM and LAW will also form part of this syllabus –
Risk Management in Investment Decisions.
Foreign Exchange Risk.
Interest Rate Risk.
PAPER – 6B FINANCIAL SERVICES AND CAPITAL MARKETS
OBJECTIVE
To gain knowledge of Financial Services rendered by Intermediaries and Banks and their role and activities in the Financial Market in general and the Capital Market in particular and also to apply such knowledge in practical scenarios.
Topics covered by this subject are as follows –
Global Financial Markets
Impact of Various policies on Financial Markets
Capital Market – Primary
Capital Market – Secondary
Money Market
Institutions and Intermediaries
Commodity Market
A. Banking Management
Banking as a source of capital including NBFCs
Mutual Funds
Private Equity
Investment Banking
Credit Rating
Treasury Operations
Risk Management
Credit Derivatives
SEBI Guidelines
The following topics which are covered in SFM and LAW will also form part of the syllabus-
Securitization
Fixed Income Securities (Valuation of Bonds/ Debentures)
Derivatives
Interest Rate Risk
The Securities and Exchange Board of India Act, 1992
Legislative framework on listing agreements
The Securities Contract (Regulation) Act, 1956
Chapter III-D of the RBI Act, 1934
PAPER – 6C INTERNATIONAL TAXATION
OBJECTIVE
The objective behind introducing this subject in CA Course is to develop an understanding of the concepts, principles, and provisions of International Taxation and to apply such concepts and knowledge in preparing Computation and addressing in practical scenarios.
Further, it is divided into two sections-
Taxation of International Transactions and Non-Resident Taxation in India
Other aspects of International Taxation
SECTION – A Taxation of International Transactions and Non-Resident Taxation in India
Topics covered in this subject are as follows –
Transfer Pricing Provisions under the INCOME TAX Act, 1961.
Arm’s Length Price
International Transactions
iii. Most Appropriate Method
Functions, Assets, and Risk Analysis
Documentation & Compliances
Specific Reporting Regime in respect of Country by Country reporting and master file
vii. Advance Pricing Agreements
Other Provisions relating to the taxation of international transactions and non-resident taxation under the Income-tax Act, 1961
Non-resident Taxation (including Source Rule of Taxation)
Double Taxation Relief
iii. Advance Rulings
Law and Procedures under the Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015 – An Overview.
SECTION – B Other Aspects of International Transaction
The topics covered by this topics are as follows –
Overview of Model Tax Conventions.
OECD Model Tax Convention
UN Model Tax Convention
iii. US Model Tax Convention
Tax treaties, Applications, and Interpretation
Features of Tax treaties
Overview of Tax Information Exchange Agreements
iii. Commentaries and their importance
Role of Vienna Convention in application and interpretation of tax treaties
Anti Avoidance Measures
Controlled Foreign Corporations
Base Erosion and Profit Shifting
iii. Other Anti Avoidance Measures
Taxation of E-Commerce Transactions
Introduction
Emerging issues
iii. Equalisation levy
Note – The students may note that the transfer pricing part in PART – 1 will carry 30 marks.
PAPER – 6D ECONOMICS LAWS
OBJECTIVE
To develop an understanding of the provisions of different economic laws and acquire the ability to apply such knowledge to address issues in practical case scenarios.
Topics covered under this subject are as follows –
World Trade Organization (WTO) covering its Role, Principles, Functions, and Dispute Settlement Mechanism
Competition Act, 2002 and Rules/ Regulations
Real Estate (Regulation and Development) Act, 2016 [Central Act and Rules/ Regulations]
Insolvency and Bankruptcy Code, 2016 and Rules/ Regulations
Prevention of Money Laundering Act, 2002 and Rules/ Regulations
Foreign Exchange Management Act, 1999 and Rules/ Regulations
Prohibition of Benami Property Transactions Act, 1988 and Rules/ Regulations
PAPER – 6E GLOBAL FINANCIAL REPORTING STANDARDS
OBJECTIVE
To develop an understanding of the key concepts and principles of International Financial Reporting Standards and to acquire the ability to apply such knowledge to make computations and address issues in practical case scenarios.
To develop an understanding of the significant differences between IFRS and US GAAPs and apply the same in practical case scenarios.
Topics Covered –
Conceptual Framework for Financial Reporting as per IFRS – 10 Marks
Application of International Financial Reporting Standards – 70 Marks
Significant differences between IFRS and US GAAPs – 20 Marks
PAPER – 6F MULTI-DISCIPLINARY CASE STUDY
OBJECTIVE
To analyze and integrate the concepts, principles, and provisions of accounting, auditing, taxation, corporate laws, finance, business strategy, and management to address issues in practical case scenarios
Topics covered –
This paper will include Case Studies covering the following areas.
Financial Accounting and Reporting
Audit and Assurance
Taxation
Finance and Financial Management
Management Accounting
Corporate Laws
Business Strategy and Management
Paper 7: Direct Tax Laws & International Taxation
This paper is divided into two parts. One is Direct tax laws and another is International taxation.
SECTION – A Direct Taxation
OBJECTIVE
To acquire the ability to analyze and interpret the provisions of direct tax laws and recommend solutions to practical problems.
Topics Covered –
Law and Procedures under the Income-tax Act, 1961
Basis of charge, residential status, income which does not form part of total income, heads of income, the income of other persons included in assessee’s total income, aggregation of income, set-off and carry forward of losses, deductions from gross total income, rebates, and reliefs
Special provisions relating to companies and certain persons other than a company
Provisions relating to charitable and religious trusts and institutions, political parties, and electoral trusts
Tax Planning, Tax Avoidance & Tax Evasion
Collection & Recovery of Tax, Refunds
Income-tax Authorities, Procedure for assessment, Appeals, and Revision
Settlement of Tax Cases, Penalties, Offences & Prosecution
Liability in Special Cases
Miscellaneous Provisions and Other Provisions
SECTION – B International Taxation
OBJECTIVE
To develop an understanding of the concepts, principles, and provisions of International Taxation and acquire the ability to apply such knowledge to make computations and address application oriented issues.
Topics Covered –
Taxation of international transactions and Non-resident taxation
The provisions under the Income-tax Act, 1961, including
Specific provisions relating to Non-residents
Double Taxation Relief
Transfer Pricing & Other Anti-Avoidance Measures
Advance Rulings
Equalization levy
Overview of Model Tax Conventions – OECD & UN
Application and interpretation of Tax Treaties
Fundamentals of Base Erosion and Profit Shifting
Paper 8: Indirect Tax Laws
This paper is also divided into two parts one is goods and services taxes and another is customs and FTP.
SECTION – A Goods and Service Tax
OBJECTIVE
To acquire the ability to analyze and interpret the provisions of goods and services tax law and recommend solutions to practical problems.
Topics Covered –
Goods and Services Tax (GST) Law as contained in the Central Goods and Services Tax (CGST) Act, 2017 and Integrated Goods and Services Tax (IGST) Act, 2017
Constitutional aspects
Levy and collection of CGST and IGST – Application of CGST/IGST law; Concept of supply including composite and mixed supplies, inter-State supply, intra-State supply, supplies in territorial waters; Charge of tax; Exemption from tax; Composition levy
iii. Place of supply
Time and Value of supply
Input tax credit
Computation of GST liability
vii. Procedures under GST – All procedures including registration, tax invoice, credit, and debit notes, electronic waybill, accounts and records, returns, payment of tax including reverse charge, refund, job work
viii. Provisions relating to electronic commerce
Liability to pay in certain cases
Administration of GST; Assessment and Audit
Inspection, Search, Seizure, and Arrest
xii. Demand and Recovery
xiii. Offences and Penalties
xiv. Advance Ruling
Appeals and Revision
xvi. Other provisions
SECTION – B Customs & FTP
OBJECTIVE
To develop an understanding of the customs laws and acquire the ability to analyze and interpret the provisions of such laws.
To develop an understanding of the basic concepts of foreign trade policy to the extent relevant to indirect tax laws and acquire the ability to analyze such concepts.
Topics Covered –
Customs Law as contained in the Customs Act, 1962 and the Customs Tariff Act, 1975
Introduction to customs law including Constitutional aspects
Levy of and exemptions from customs duties – All provisions including the application of customs law, taxable
the event, a charge of customs duty, exceptions to levy of customs duty, exemption from custom duty
iii. Types of customs duties
Classification and valuation of imported and export goods
Officers of Customs; Appointment of customs ports, airports, etc.
Import and Export Procedures – All import and export procedures including special procedures relating to
baggage, goods imported or exported by post, stores
vii. Provisions relating to coastal goods and vessels carrying coastal goods
viii. Warehousing
Drawback
Demand and Recovery; Refund
Provisions relating to prohibited goods, notified goods, specified goods, illegal importation/exportation of goods
xii. Searches, seizure and arrest; Offences; Penalties; Confiscation and Prosecution
xiii. Appeals and Revision; Advance Rulings; Settlement Commission
xiv. Other provisions
Foreign Trade Policy to the extent relevant to the indirect tax laws
Introduction to FTP – legislation governing FTP, salient features of an FTP, administration of FTP, contents of
FTP and other related provisions
Basic concepts relating to the import and export of goods