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CA FINAL Indirect tax importance

Mukesh Chhangani (professor) (342 Points)

29 March 2017  
As promised back with our 50 important questions for CA FINAL MAY 17 indirect tax

1 Deemed manufacturing
2.Excisable Goods excludes bagasses
3.Coconut oil upto 200 ml is not cosmetics but edible oil
4. crushing of coal is not manufacturing
5. Valuation Rule 8 (captive consumption)
6. value of gunny bags returned not to be added (TATA chemicals)
7. MRP (removal of goods without declaring MRP)
8. SSI (PQ) 5 marks special attention Nepal is now EXport
9. SSI limits for Jewellery other than plain silver jewellery is 15 crores for Previous year and exemption is 12 crores in the current year
10. clubbing of turnovers of 2 divisions (Premium suitings 2016).
11. Rule 9 Registration vvv imp SSI,(10 crores) and Common registration
12.Rule 12 Filing of Returns (revised returns)
13. Rule 16 Remission
14. New rules 2016 for Removal of goods at concessional rates
14. Customs PQ (5 marks)
15. .New rules for import of goods at concessional rates
16. PQ on baggage
17. Duty drawback 74 and 75 (safeguard duties are rebatable)
18. Warehousing Publib Private and special warehouse (Definition, appointment, Removal, Period of holding) VVVVIMP
19. Product specific safeguard duty 8 C Removed
20. Coastal goods ((VVVIMP)
21. Penalties in customs
22. Monetary limits for prosecution
23. FTP do full PM
24.Definition of service
25. Declared service (NEW addition Right to use the radio frequency spectrum and subsequent transfer)
26. Educational services (NOW part of mega exemption)
27. Transportation of goods (By Water from foreign to Indian first custom station) It will also affect POPS Rule 10
28. Legal services by lawyers senior advocates trinunal (reverse charge)
29. section 68 Quarterly payments includes HUF and One person company PYTO less than qual to 50 lakhs)
30..Reverse charge
31. composition schemes (VVVVIMP) Due to calculation of SBC nKKC
32. Mega exemption (service by Government)
33. POPS rule 9 10 11
34. POT rule 7, 4
35. declared service Software sold at MRP Exempt
36. Section 76 Interest
37. Section 77 and 78 and 78A penalty
38. time limits for issuing demand notice 2 and half year
39. Power to arrest for prosecution
40.Freight forwarder export related (if acting as agent POPS Rule 9 if acting as principal Rule 10 of POPS)
41. Cenvat credit Rule 2(a) Wagons, 10000, pumping of water outside factory, office equipments in factory
42. Cenvat credit Rule 2(k) Inputs : pumping of water , capital goods upto 10000 per piece is now inputs
43. Exempted service Rule 2(e) excludes transportation of goods from by vessel from Indian custom station to place outside India ,
44. Rule 6 PQ
45. Rule 7 Distribution of cenvat credit by input service distributors
46. New rule 7B
47. KKC allowed to output service provider nut not to manufacturer
48. Appeal (CESTAT)
49. settlement of case
50. Advance Rulings

happy learning
Calibre Educare

 2 Replies

Tony John (Chartered Accountant) (6085 Points)
Replied 29 March 2017

This will be very useful for May 2017 aspirants. Thank you for the initiative sir.

Mukesh Chhangani (professor) (342 Points)
Replied 29 March 2017

you are most welcome

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