APPLICABILITY/NON-APPLICABILITY
OF NEGATIVE LIST AND RELATED TOPICS IN SYLLABUS OF PART II: SERVICE TAX AND VAT
OF PAPER 4: TAXATION (IPCC) FROM MAY 2013 EXAMINATION ONWARDS
The Examination
Committee at its 498th meeting held on September 23, 2012 has decided that the following
sections of the Finance Act, 1994/rules will be covered under point no.
1 (Concepts and General principles) and point no. 2 (Charge of service tax and
taxable services) of syllabus of Part II: Service tax & VAT in Paper 4:
Taxation from May 2013 examination onwards:
(i) Section 64 - Extent, commencement
and application
(ii) Sections 65B – Interpretations
[only relevant ones which would be required to explain the concepts included]
(iii) Section 66B – Charge of service
tax on and after Finance Act, 2012
(iv) Section 66D - Negative list of
services
(v) Section 66F – Principles of
interpretation of specified descriptions of services or bundled services.
(vi) Section 67A - Date of determination
of rate of tax, value of taxable service and rate of exchange
(vii) Point of Taxation Rules, 2011
It may be noted
that the above-stated Sr. No.(i) - Section 64 and Sr. No.(vii) - Point of
Taxation Rules, 2011 have already been covered in the existing syllabus so far.
Thus, only Sr. Nos.(ii) to (vi) have been included as new topics in the
syllabus under point no.1 (Concepts and General principles) and point no.2 (Charge
of service tax and Taxable services).
The Committee
further decided that the following topics pertaining to service tax law will
not be included in the syllabus:
(i) Section 66C - Determination of place
of provision of service
(ii) Section 66E – Declared services
(iii) Place of Provision of Service
Rules, 2012
(iv) Section 68(2) and Reverse Charge
notification
(v) Export of Services vide rule 6A of
the Service Tax Rules, 1994
(vi) Mega exemption notification and
other exemptions
(vii) Abatement notification
In furtherance
to the above-mentioned decision, it is clarified that other topics viz.,
valuation of taxable service, payment of service tax and filing of returns,
topics related to VAT etc. as covered in the Study Material will continue to
apply as they used to apply before.
In view of the
far-reaching changes effected with the introduction of negative list approach
of taxation in service tax, Study Material and Practice Manual of Part-II:
Service tax & VAT of Paper 4: Taxation (contained in Volume III) [November
edition] have been completely revamped. Students may note that the revised
Study Material and Practice Manual have been prepared in accordance with the
abovementioned decision of the Examination Committee.
In other words,
all the chapters of the revised Study Material and Practice Manual would be applicable
for examination purposes.
Hence, students
with the older editions of the Study Material and Practice Manual are advised
to read the new edition [November edition].
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