CMA Final Indirect Tax Laws and Practice Classes

CMA Final Paper 19 — Indirect Tax Laws and Practice

Indirect Tax Laws and Practice is a 100-mark paper that covers GST, Customs, and Foreign Trade Policy at the level required for CMAs who advise on indirect tax strategy, manage tax litigation, or work in supply chain and manufacturing compliance roles. It is the most amendment-sensitive paper in CMA Final — using outdated material for this paper is one of the most avoidable examination failures.

Advanced GST

• Complex Supply Scenarios — Multi-tier supply chains, inter-state vs intra-state supply determination, OIDAR services, import of services (RCM), zero-rated supply (exports and SEZ), exempt supply interactions with ITC
• Advanced ITC — Section 17(5) blocked credits in manufacturing contexts, ITC on construction of factory (capital goods), proportionate ITC for mixed-use businesses, annual reversal obligation
• GST Assessment — Self-assessment, scrutiny of returns (Section 61), assessment of non-filers (Section 62), best judgement assessment (Section 63), Section 66 special audit triggered by CGST/SGST officer
• Demand and Recovery — Section 73 (non-fraud, 3-year limitation), Section 74 (fraud/suppression, 5-year limitation), interest, penalty calculation, voluntary disclosure benefit
• Refunds — Export with LUT (Letter of Undertaking), zero-rated supply refund process (IGST paid vs ITC accumulation method), inverted duty structure refund, deemed export refund
• GST Appeals — First Appellate Authority, GSTAT (when operational), High Court, Supreme Court; pre-deposit requirements; stay applications
• Anti-Profiteering — Section 171, DGAP methodology for profiteering computation, NAA orders, penalty structure
• Real Estate GST — New scheme vs old scheme, ongoing vs new projects, input services and materials ITC availability

Customs Act 1962

• Import procedures — Bill of Entry, types (for home consumption, for warehousing, ex-bond), ICES (Indian Customs EDI System)
• Customs valuation — Transaction value method (Rule 4), adjustments (Rule 10), alternative methods (Rules 5–9), related party transactions
• Classification — Harmonized System (HS codes), CTH (Customs Tariff Heading), interpretative rules
• Duty drawback — All Industry Rate (AIR) vs Brand Rate vs Special Brand Rate, DFIA
• Customs bonded warehouses and SEZs — Customs implications, period of warehousing, re-export
• Baggage rules, postal imports — Passenger concessions, commercial importation via post

Foreign Trade Policy

• DGFT schemes — Advance Authorisation, EPCG (Export Promotion Capital Goods), MEIS replaced by RoDTEP, SEIS, Star Export Houses
• Project exports — Deemed exports, deemed export benefits