Refresher Course on GST and Ins AS for the CA Students

Refresher Course on GST and Ins AS for the CA Students

Board of Studies is organizing Six Days Course on GST and Ind AS through a combination of Webcasts from Head Office and physical classes at Regional Councils and Branch(es)for the CA student.

Course on GST – Course Objective:

The objective of the Course is to introduce the students to the new indirect tax namely, GST and systematically build their conceptual understanding of the fundamentals of GST. Since GST is an entirely new law and that too a complex one, it is being felt that there is a need to educate the CA students in this area for the students who will be appearing in November’17 Examination onwards. This refresher course on GST will enhance the skills of our students in handling GST matters in future and will add a new dimension in their career growth in future.

Date	Webcast from Head Office	Physical Class at Regional Councils / Branches
	10 AM – 1 PM	2 PM to 5 PM
17th Dec’17	Introduction to GST and taxable event ·           Genesis of GST in India – A brief background and an overview of the overall scheme of taxation under GST ·           Concept of Supply including composite and mixed supplies	Charge of CGST and IGST ·           Charging sections ·         Reverse charge ·         Rates of taxes
18th Dec’17	Place of supply ·           P lace of supply of goods including import and export of goods ·           Place of supply of services including import and export of services	·           Composition levy ·         Exemptions for goods and services from CGST and IGST
24th Dec’17	Value of supply ·           Transaction value under section 15 ·           Valuation Rules	·         Registration including migration aspect ·           Time of supply
31st Dec’17	·      Transitional Provisions	·         Input Tax Credit
6th Jan’18	·           Returns – GSTR-1, GSTR-2 and GSTR-3 ·           Matching and reversal ·           Annual and Final return ·           Levy of late fee	·           Tax invoice, Credit and Debit Notes ·           Accounts and Records ·           Payment of tax
7th Jan’18	·      Offences and Penalties ·      Miscellaneous – Job work procedure, Anti – profiteering measure and GST compliance rating etc.	·           Assessment ·         Refunds

 

Course on Ind AS – Learning Objectives:

• Understand the concepts of Ind AS.
• Appreciate the reasons for convergence of IFRS rather than adoption.
• Recognise the process of issuance and notification of Ind AS in India.
• Realise the mandatory implementation of Ind AS to various sectors on fulfilling the prescribed criteria.
• Comprehend the changes made in Ind AS from IFRS i.e. carve outs and reasons thereof.
• Examine the concepts explained in significant Ind AS.

Grasp the differences in Ind AS vis-à-vis AS

Session Plan on Topics (36 hours)

The Course would cover the following provisions of the GST law (CGST and IGST) as under:

Date	Main Topic	Webcast from Head Office			Physical Class at Regional Councils / Branches
			10 AM – 1 PM		2 PM to 5 PM
13th Jan’18	(i)Indian Accounting Standards– An Introduction (ii)Ind AS on	•	History, Formulating body, Process of formulation till notification and amendment later on, Ro admap issued by various Statutory Bodies	• • •	Ind AS 34: Interim Financial Reporting Ind AS based Schedule III Ind AS 8: Accounting Policies,
	Disclosure and		for implementation of Ind		Changes in
	Presentation of financial statements and Accounting Policies		AS, Why and how Ind AS is different from IFRS, What is carve outs/in from IFRS	•	Accounting Estimates and Errors, Ind AS 24: Related
		•	Ind AS 1: Presentation of Financial Statements		Party Disclosures, Ind AS 108:
					Operating
					Segments
14th Jan’18	(iii)    Asset based Ind	•	Ind AS 16: Property,	•	Ind AS 36:
	AS		Plant and Equipment		Impairment of
		•	Ind AS 41: Agriculture		Assets
		•	Ind AS 17: Leases	•	Ind AS 38:
					Intangible Assets
20th Jan’18	(iv)    Ind AS impacting items of B/S and SPL	• •	Ind AS 19: Employee Benefits Ind AS 102: Share Based	•	Ind AS 21: The Effects of Changes in Foreign
			Payments		Exchange Rates
				•	Ind AS 12: Income
					Taxes
21st Jan’18	(v) Ind AS applicable on Group Companies	•	Ind AS 110: Consolidated Financial	•	Ind AS 111: Joint Arrangements
			Statements	•	Ind AS 27:
		•	Ind AS 112: Disclosure of Interests in Other entities (related to		Separate Financial Statements

 

		subsidiaries)	·         Ind AS 28: Investment in Associates and Joint Ventures ~    Ind AS 112: Disclosure of Interests in Other entities (related to Joint Arrangements)
27th Jan’18	(vi)  Ind AS on Business Combination (vii)        Ind                   AS                     on                Fair Value (viii)                         Transitional Standard	·           Ind          AS      103:        Business Combinations	·           Ind AS      113:       Fair Value Measurement ·           Ind AS      101:      First Time      Adoption    of Indian      Accounting Standards
28th Jan’18	(ix) Ind AS on Financial Instruments	·      Ind AS 32:         Financial Instruments: Presentation ·      Ind AS 107:        Financial Instruments:    Disclosures	·           Ind      AS      109: Financial Instruments
: All Ind AS covered above will be discussed as: ·           Discussion of contents of Ind AS (with examples) ·           Carve outlines from IFRS (if any) ·           Differences vis–à–vis AS (if any)Note

 

Students, after completion of the Course(s) are required to pass a computer based online test with 50% marks to be eligible for receiving participation certificate issued by Board. The fee for above Courses is Rs.1500/- each per student. The link for online registration will be provided on the Institute’s website.