Paper 8 – Indirect Taxes,
(Most Important Questions for Nov’2009 Exams)
Professor Mukesh (WIRC 07-Oct-09)
EXCISE
1. Definition of India.
2. Definition of Deemed Manufacture.
3. Definition of Manufacture- Sec2(f)(i)(ii)(iii).
4. Is packing, labeling, Branding Manufacture.
5. Is Assembly Manufacture.
6. Rule 10-A, Manufacture through a Job Worker.
7. Short Note: Trade Parlance Theory (VVVVV Imp)
8. What is Assessable Value. Principles in Determining AV. (SRS Conditions)
9. Place of Removal. (Metro Shoes Case)
10. Deduction allowed for Valuation of Excisable Goods.
11. Rule 6- Price is not the sole consideration . Is Raw Material Supplied added
to AV. (VVV Imp)
12. Rule 7- Depot
13. Rule 9.
14. Rule 10.
15. Samples, Prototypes – its liability for Excise Duty (VVVVV Imp)
16. Invoicing System (VVV Imp)
17. Penalty for non payment of ED (Monthly facility will be withdrawn).
18. Rule 21 (DULL)
19. Rule 17 – Abatement of 50% in rate of Basic ED.
20. SSI (VVVVV Imp)
21. Sec 4A- MRP/ RSP.
22. MRP Rules (New Amendment of Yr.2008)
23. Rule 18- Provisional Assessment.
24. Special Audit (Sec 14A- Valuation Audit & Sec 14AA- Cenvat Credit Audit)
25.What is Adjudicating Authority (Inspector to Commissioner except CBDT, CESTAT)
26. Do all Practical Questions of all Past Exams. (VVVV Imp)
27. Do all recent amendments &Case Laws from RTP & CA Student Journal+ other sources.
CUSTOMS
1. Definitions of Customs Area.
2. What are Goods. Whether they include Storage, baggage.
3. What is Re-import of Goods ( First exported then received back for repair..)
4. If Basic Customs Duty is exempt then is ACD exempt – NO.
5. Date of Determination of Rate of Duty (Kiran- Garden Spinning- LML case)
6. Import Procedures (VVVV Imp)
7. Export Procedures (VVVV Imp)
8. Duty Drawback – Sec 74 (VVVVVV Imp)
9. Do all Practical Questions of all Past Exams. (VVVV Imp)
10.Do all recent amendments & Case Laws from RTP & CA Student Journal+ other sources.
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C} SERVICE TAX
1. Sec 65- Classification of Goods.
2. Sec 67- Valuation of Goods
3. Revise Return ( Not 60 days but now 90 days) (VVVVV Imp)
4. Sec 72- Best Judgement Assessment
5. Sec 77- Penalty (VVVVV Imp)
6. Practical Question on Money Changer (Rate – 0.125%) (VVVV Imp)
7. Works Contract (Rate – 4.12% , NO Cenvat Credit)
8. Adjustment of Excess amount of Service Tax paid ( Upto Rs. 1 Lakhs per mth/ per qrtr)
9. Renting of Immovable property (Property tax paid will be lessed from Rent Recvd & on
balance ST will be charged).
10. R & D Cess- 5% paid is deducted from the rate of ST.
11. Business Auxuillary Services- Game of Chance, KBC (VVVV Imp)
12. Business Support Services.
13. CA Services (VVVVV Imp) , ST is not chargeable on what (representation
in response to a notice).
14. Construction of Residential Complex (Upto 12 Flats – NO ST, More than 12 Flats- pay ST)
Case–S. Rangarajan (2008) Purchased 2 flats but constructed as one, held they are 2 flats.
15. Do all recent amendments &Case Laws from RTP & CA Student Journal+ other
D} CENVAT CREDIT
1. Sec 2(k)- Input.
2. Sec 2(l)- Input Services.
3. Sec 2(m)- Input Service Distributor.
4. Adjustment/ Set off of Cenvat Credit. (Ed cess against Ed cess,…)
5. Condition for availment of Cenvat Credit on Input Services (VVVVV Imp)
6. Rule 6. (Exempted / Taxable)
E} OTHERS- COMMON TOPICS
1. Advance Ruling (VVVV Imp).
2. Duty Drawback – Sec 74
3. Powers of person in connection with arrest.
4. Fine in lieu of Confiscation (Redemption fine) (VVVV Imp)
5. Sec 13- Arrest.
6. Definition of Smuggling ( Import Duty not paid)
7. Prosecution in case of Officers ( Co- Directors, P-ship – Partners,…)
8. Attachment of Property notice – Sec 73 C (sent along with SCN to recover ED)
Note: Professor Mukesh has recommended that on Exam Day first do all the above questions and then do balance.
Our Godspeed Wishes are always with you. Do Remember, Indubitably, 100% you shall be a Professional Chartered Accountant.
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