Corporate Tax Planning and Management

Syllabus

CODE-3.3.2: CORPORATE TAX PLANNING AND MANAGEMENT

Module-One: Assessment of Corporate Assesses                                    18 Hours

Types of Companies, Residential Status and Incidence of Tax for Companies, Computation of Taxable Income and Tax Liability According to Income Tax Provisions, Book Profits, Minimum Alternate Tax under Section 115JB, Tax Credit under MAT, Dividend Distribution Tax u/s 115-O.

Module-Two: Tax Planning and Management                                         8 Hours

Tax Planning, Tax Avoidance and Tax Evasions – Meaning and Differences. Objectives and Types of Tax Planning, Areas of Tax Planning – Location of Business, Nature of Business, Form of Ownership, Specific Management Decisions – Capital Structure Decisions, Own or Lease an Asset, Make or Buy Decisions, Repair or Replace Decisions, Transfer Pricing. Tax Planning for Amalgamations.

Module-Three: Customs Duty                                                                      10 Hours

Import Procedures and Export Procedures. Meaning and Types, Features and Sources, Applicability, Chargeability of Customs Duty, Exceptions for Levy of Customs Duty, Taxable Event, Valuation of Imported and Exported goods for Levy of Customs Duty. Computation of Customs Duty Payable. (GST valuation procedures is considered for computation)

Module Four – Goods and Services Tax – Framework and Definitions     08 Hours

Introduction to Goods and Services Tax, Constitutional Framework, Orientation to CGST, SGST and IGST, Definitions – Supply. Inward Supply, Outward Supply, Continuous Supply, Time of Supply, Place of Supply, Goods, Services, Person, Taxable Person, Related Person, Business, Place of Business, Business Verticals, Consideration, Capital Goods, Input and Input Service, Input Tax, Output Tax, Aggregate Turnover, Deemed Exports, Recipient, Reverse Charge, Works Contract.

Module Five – Valuation for GST and Computation of GST Liabilities    10 Hours

Taxable and Exempted Goods; Valuation of Taxable Supply of Goods, Computation of GST Liability on Supply of Goods, Set-off of Input Tax Credit; Taxable and Exempted Services; Valuation of Taxable Value of Services – Computation of GST Liability on Supply of Services, Set-off of Input Tax Credit; Reverse Charge Mechanism.

Module Six - GST Procedures                                                                      08 Hours

Registration under GST, Tax Invoice, Levy and Collection of GST, Composition Scheme, Due Dates for Payment of GST, GST Returns – Types of Returns, Monthly Returns, Annual Return and Final Return – Due Dates for Filing of Returns. Final Assessment.