CA Final IDT Amendments Nov 2017 (Indirect Tax Notes)

CA Final IDT Amendments Nov 2017 & CA Final IDT Notes : Checkout CA Final Indirect Tax Amendments applicable for Nov 2017 ICAI Exams, including recent case laws and Syllabus Changes. When compared to last attempt, there will be not many new amendments in Indirect Tax syllabus due to applicability of same Union Budget. In our earlier article, we have clearly explained CA Final Direct Tax Amendments for Nov 2017 Exam and also provided CA Final IDT Notes. Amendments in Indirect Tax are mostly in Service Tax portions. On a number scale, there are a total of 22-24 new CA Final Indirect Tax Amendments.

Details of CA Final IDT Amendments Nov 2017

Percentage of IDT Amendments 6%
Supplementary Material Released
Amendments in IDT Exam 36 to 44 Marks

Notifications and Circulars included in CA Final IDT Syllabus & Amendments

All recent Circulars and Notifications issued by the CBDIT until 1st April 2017 shall be applicable for Nov 2017 CA Final IDT Exam.

CA Final IDT Amendments Nov 2017 PDF

ICAI has recently released this Supplementary Study Material for CA Final students incorporating all amendments applicable for Indirect Tax Nov 2017 exam.

This IDT Amendments Material has been made available for download in PDF Format below:

CA Final IDT Amendments PDF

CA Final IDT Selected Case Laws Nov 2017

ICAI has released Selected Case Law Study Material for CA Final Indirect Tax part. You can expect 16-20 marks from these case laws in Nov 2017 Exams.

The Selected Case Law Material has been made available in PDF format below:

CA Final IDT Case Laws Nov 2017

Infrastructure Cess on Vehilces – IDT Amendment Nov 2017

With effect from 01.03.2016, there shall be levied and collected a duty of excise to be called an infrastructure cess, on motor vehicles falling under heading 8703. The effective rates of the infrastructure cess are  Nil, 1%, 2.5% and 4%.

Coconut Oil in Small Packets : IDT Excise Amendment

Withdrawal of circular classifying coconut oil packed in small size containers upto 200 ml as hair oil.

Earlier, Circular No. 890/10/2009 dated 3.6.2009 had clarified that coconut oil packed in small container of sizes upto 200 ml was classifiable under Central Excise Tariff Heading 3305 as Hair oil.

In the case of Raj Oil Mills Ltd. v. CCE 2014 (314) ELT 541 (Tri.-Mumbai) [maintained by SC], it has been held that edible coconut oil in retail packing of 200 ml or less is classifiable under Chapter 15 covering animal or vegetable fats and oils and not under Chapter 33 covering Cosmetics and Toilet Preparation.

Thus, in view of the said judicial pronouncements, aforesaid circular has been withdrawn vide Circular No.1007/14/2015 CE dated 12.10.2015.

SBC & KKC Rebate : CA Final IDT Amendments

As per this amendment, SBC and KKC paid on services used in providing services which are exported entitled for rebate.

CENVAT Reversal – IDT Amendment Nov 2017

Credit reversal provisions not applicable in case of transportation of goods by a vessel from customs station of clearance in India to a place outside India.

The Credit taken on inputs and input services used in providing or agreeing to provide a service by way of transportation of goods by a vessel from customs station of clearance in India to a place outside India would also not be reversed by the shipping lines.

SCN Limitation Period – IDT Amendment Nov 2017

Limitation period for issuing SCN increased from 1 year to 2 years in cases not involving fraud, suppression of facts, wilful misstatement, etc.

Therefore, now Central Excise Officer can issue a show cause notice upto 2 years from the relevant date when the duty is not levied/not paid/short-levied/shortpaid/erroneously refunded in cases not involving fraud etc.

Conclusion : CA final IDT Amendments Notes

The above Article on IDT Amendments has been prepared by CA Kirti Jain. CA Kirti has scored 89 Marks in CA Final IDT Paper and also is an All India Ranker in CA Final Exams.