Suggestions for Strategic Management, Alliances & Intl. Trade- DEC 15 Exams - CS Rahul Harsh

CS DEC 15 EXAMS

                                                       CS RAHUL HARSH - 9804179372

                                                        

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For Suggestion on CS Advance Tax Laws and Practice – CS Final  DEC 15 Check My Blog: csrahulharsh.blogspot.com

Friends, This Subject is Easy in comparison to others like Tax and Corp. Laws. You should give your 200% in this subject than only you will be able to clear the Group 3 of CS Final (OLD). Try getting 60% Marks in SM so that even if tax paper is not up-to your expectations you will be able to clear the group. Support your answers with practical examples in SM to get more marks, write Theoretical Answers in Bullet Points and highlight the Important parts.

The Topics you must revise before your exams are as follows:

Part A: Strategic Management :

Different Levels of Strategy, Risk in Global Business, Knowledge Management and its elements, Whats benchmarking, Environment analysis, Different Forecasting techniques, Porter’s Five forces Model – Industrial Analysis, Strategic Group Mapping, SWOT Analysis, GAP Analysis, Business Process Re-Engineering – Process & its Case study on Indian Railways Asked in June 2011 of CS Exam(Check Scanner).

Vision, Mission & Goals – with examples and their difference, Note on: Market Penetration, Niche Marketing , Focus Strategy , Retrenchment strategy, Divestment & Liquidation strategy. Go thru Various type of diversification. BCG Growth Share Matrix is a MUST along with its Diagram ! , Note on Tactical planning., Strategy Formation & Implementation, McKinsey 7’s Framework and its 7 Elements (Hard and Soft), Whats organization Development, CSR, 4 P’s and 4 C’s of Marketing Strategy, Zero Based Budgeting, Whats the reason for resistance to change in an org and how to overcome it? , Whats economic Value Added ? , Diff in Market Value added & economic value added , Diff in Market risk and Business Risk, Whats Risk Management and its benefits & Process of Risk mitigation, Whats risk – return trade off , How to Develop MIS in an Org, what is Decision Support System and Exec. Information system, Note on ERP, Differcence in Internal and Statutory Audit, Process Of Internal Control.

Part B: Alliance

Whats Joint Venture and its modes, Issues that must be considered while going for JV, VIMP: Draft an Agreement for JV in Indian Co. and A Foreign Co. , Process of Foreign Collaboration Agreement and Factors to be considered while drafting a Foreign Collaboration Agreement, VIMP : Detail the clauses of restrictive practices generally observed in a Foreign Collaboration and Technology Transfer agreement, Problems Associated with Technology Transfer agreement, Preconditions for Indian Co. to invest in a Forgn JV. , Methods of Funding a Frgn JV, Note on Cross Culture Alliances,  Process of FDI in India (Read the Latest ICSI Amendment too from this link :

https://www.icsi.edu/Docs/website/supplementary%20material%20SMAIT%20for%20Dec%202015%20Exam.pdf

Part C: WTO

What is international Trade, Theory of Comparative Advantage, Theory of Mercantilism & Adam Smith, Pinciples of GATS, Mode of Services in WTO, Note on Agreement on Textiles , Agreement on place of origin, Barriers to Free Flow of Trade, Whats Normal value in case of Dumping, Type of Dumping, Conditions of Dumping, Process of making an Application of Dumping Investigation, Whats specificity in case of Subsidy, Describe diff Categories of Subsidy, Difference in Dumping and Subsidy, VIMP: Agreement on agriculture and concept of Boxes, Note on TRIPS , WIPO and Trade Secrets.

Process of Dispute Settlement in WTO full text of Consultation / Pannel/ Appeal, List of all the Ministerial Conferences of WTO there is an update in this which is as Follows,

1st          9–13 December 1996                                      Singapore

2nd        18–20 May 1998                                              Switzerland Geneva, Switzerland

3rd         30 November – 3 December 1999                   United States Seattle, United States

4th         9–14 November 2001                                      Qatar Doha, Qatar

5th         10–14 September 2003                                    Mexico Cancún, Mexico

6th         13–18 December 2005                                     Hong Kong

7th         30 November – 2 December 2009                   Switzerland Geneva, Switzerland

8th         15–17 December 2011                                     Switzerland Geneva, Switzerland

9th         3–6 December 2013                                         Indonesia Bali, Indonesia

10th       15–18 December 2015                                     Kenya Nairobi, Kenya

Ø  Major Decisions taken in Doha, Cancun Ministerial Conference,

Ø  MUST Read: Trading Blocks ASEAN , European Union ,( European Parliament) , NAFTA and SARC. – Their Date of Establishment, Name of Member Countries, Objectives and Structure are VVIMP.

Ø  Whats Difference in Multilateral and Plurilateral Trade Agg and its examples, Diff in WTO and GATT, Whats Predatory Pricing, EXPLAIN CONCEPT OF MOST FAVORED NATION & NATIONAL TREATMENT , Organizational Structure of WTO.

BEST OF LUCK!

CS RAHUL HARSH

Last Minute Suggestions to CS Final - Advanced Tax Laws – DEC 15

Dear Friends,

Tax is said to be the Toughest subject of the Syllabus. Therefore you have to revise it completely before exam. CS Final is a Professional Examination and everything in the ICSI Mat is Important. But there a few topics in this subject which require some more attention than others. So lets discuss them and check whether you have prepared them or not.

Advanced Tax Laws:

The most important part of this subject are Amendments. Which I can provide you by email.

The important topics which you need to take care of are as follows:

DIRECT TAX & INTL. TAX

Do DTAA and Unilateral relief sums from scanner. They are VIMP. In Case you are from the New Syllabus Int. tax has less weightage but is equally important. Go Thru the Latest Amendments. You can expect 15 Marks from this part and questions here are mostly DIRECT. Just write TO the point answers with correct section and you will get good marks here. Keep yourself updated as in Dec term many new amendments will be asked from finance act 2014.

Imp Topics which you must REVISE BEFORE EXAMS ARE: Constitutional Provisions of Indian Taxation System. WRT Union List , State List , Concurrent List , What Is Finance Act?  And how it gets passed in parliament. Tax Rates for AY 2015-16, Various Heads of Income , Income under the Head Salaries (SUMS Might come from this Part), PGBP, Taxation of Limited Liability Partnership (LLP), Minimum Alternate Tax (MAT), Dividend Distribution Tax (DDT) (Section 115O), Taxation of Foreign Dividends (Section 115BBD).

Short notes and Difference between Tax Planning, Tax Avoidance and Tax Evasion, Areas of Tax Planning in the context of the Income-Tax Act, 1961, Tax Planning Relating to Corporate Restructuring, Concept of Reverse Merger, Tax Planning Relating to Non-Residents, Tax Planning for Employees, TDS – Applicability Provisions , Payment and Procedures, Tax Incidence on Non Resident (Section 5), Incomes Exempt in the hands of Non-Resident/Foreign company [Section 10], Special provisions for computing profits and gains in case of Non-Residents [Deemed/Presumptive Income/Taxation].

Concept of Advance Ruling, Who can seek Advance Ruling?, Short Notes on: Authority for Advance Ruling (AAR) (Section 245O) Application for Advance Ruling (Section 245Q), Powers of the Authority (Section 245U), Applicability of Advance Ruling (Section 245S), Advance Ruling to be Void [Section 245T], Transfer pricing provisions in India, What is arm’s length price?, Notes and Limits of Associated Enterprises (AE), Meaning of international transaction, Transfer pricing – Applicability to Domestic Transactions, Reference to Transfer Pricing Officer,  Advance Pricing Agreement, Transfer Pricing – Penalty for Contravention of Agreements with Foreign Countries or Specified Territories (Section 90), Double Taxation Relief (Section 90A), Unilateral Tax relief, Permanent Establishment (PE), Passive Foreign Investment Company (PFIC),  Appeal to ITAT ,  Assessment Procedures and Appeal to HC / SC / Revision of Order.

INDIRECT TAX – EXCISE

Read Latest Amended Act and Rules ! Indirect tax is probably more interesting than Direct tax. You need to read the LATEST AMENDMENTS & CASE LAWS (which I Can Provide you on request) as Institute has a habit of asking the latest here so focus more on the 2014/2015

Try solving case laws in the following manner: 1) Facts of the case : Write the basic summary of case given to you 2) Provisions of the act, 3)Decision of the Court. You should write the name of case law only if you are 100% Sure.

• You must attempt sums only when you are confident or else you may lose your precious 15 marks easily. In case you are in the New Syllabus Sums and Case Laws have options where you can attempt either of the two. I would recommend to the Average students to attempt Case laws as here you have a reference to answer; whereas sums can be tricky and can cost you a big loss.

IMP. Topics: are : Concept of Manufacture and "Manufacturer"  with its case studies, Methods of valuation, (1) Tariff values (2) Valuation based on MRP [retail sale price] (Section 4A) – With Case Studies, (3) Valuation based on Transaction Value (section 4) and all the rules under transaction value method – Sums can be asked from this part, Classification of goods and its case laws (latest ones are VIMP)

CENVAT Credit -CENVAT Credit Rules, 2004 , Case Studies - Practical Calculations are must from this chapter – Rule no. : 2k,  2A, 3, 5(with its sum for refund of CE) , rule 14. Rule 6 – CASE LAWS OF CENVAT.

Registration with Central Excise and cases where exemption is provided, Payment Process of Excise Duties, Short note on Compounded Levy Scheme, Power to Grant Exemption from Duty of Excise (Section 5A), ,  Rebate of duty, Various Bonds under Excise, Refund of Duty (Section 11B), Doctrine of Unjust Enrichment, Consumer Welfare fund: (Section 12C), Interest on Delayed Refunds (Section 11BB), Mode of Recovery (Section 11), Duties Collected from Buyer to be Deposited with the Government [Sections 11D and 11DD], Excise Audit—2000 , Valuation Audit – Section 14A & Cenvat credit Audit (Section 14AA), Remission of Duty,  SSI Exemption under Notification No. 8/2003 Conditions for Claiming SSI Exemptions- Practical Calculations are must from this chapter, Case Studies from SSI, Rules for Search and Seizure under excise and customs.

CENTRAL EXCISE RULES, 2002 - Duty payable on removal, Manner of payment of duty, Registration – process and forms reqrd for different catagories, Time limit, Fines for Late Filing, Removal of goods for Job work, Special procedure for removal of semi-finished goods, Removal of goods by a 100% Export 0riented Unit, Rebate of duty, Remission of duty, , Power to stop and search, Confiscation and Penalty, Rule 26 Penalty for certain cases, Rule 27 General Penalty.

CUSTOMS

Must Revise Topics are: Valuation of Goods For Levy of Customs Duty, Assessment of Duty Provisional Assessment, Duty on Pilfered Goods (Section 13), Goods Derelict, Wreck, Etc. (Section 21) , Abatement of Duty on Damaged or Deteriorated Goods (Section 22), Remission of Duty on Lost, Destroyed or Abandoned Goods (Section 23), Refund and Recovery Provisions (Section 26 To 28D) , Warehousing (Section 57 to 73) Duty Drawback , Baggage (Section 77 to 81)  - Practice Practical Sums  , Stores, Confiscation of Goods (Section 111 To 127).

COMMON TOPICS

Advance Ruling, Settlement Commission, Appellate Procedures, before Commissioner/ CESTAT, Revisionary Role of the Central Government, Matters that can be applied before HC & SC, Meaning , Requirements, of Doctrine of Promissory Estoppel

SERVICE TAX

Administrative Mechanism, Meaning of Service, Service Tax Registration, Payment, Due Date OF Payment, Valuation of Services, Abatement, Returns under Service Tax, CENVAT Credit Rules, 2004, Advance Ruling, Settlement Commission, Short Note on Special Audit under Section 72a,

GOODS AND SERVICE TAX

What Is Goods And Service Tax, Justification of GST, Salient Features of GST

VALUE ADDED TAX

Registration, Invoice, Returns, Zero Rating, Computation and Methods of Vat, Vat Audit, Refunds, Scrutiny Process, Appeals, Revision and Appearances.

General TIPS:

Write Theory Answers in Paragraphs or Pointwise. Lengthy Answers are boring for examiners to read !

Try to Learn Relevant Sections and Name of Latest Case studies.

Provide as must explanation as possible in Practical.

Time Management and Final Revision is VIMP.

Avoid Asking Friends in EXAM HALL. No one knows better than you. People mostly go with flow and then the whole hall writes a wrong answer !

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Email : csrahulprofessional@gmail.com

Best of Luck ! J

- CS Rahul Harsh, An Associate Member of The ICSI and A Commerce Graduate from Kolkata, Currently Employed as an Assistant Company Secretary with Aanchal Ispat Limited.

                     

Last Minute Suggestions to CS Final Advanced Company Law and Practice / Company Secretarial Practice - DEC 15 Exams - CS Rahul Harsh

Last Minute Suggestions to CS Final – DEC 15

- CS RAHUL HARSH 

(Associate Member of The ICSI)

-         WhatsApp: 9804179372

-         Email: csrahulharsh@gmail.com

Dear Friends,

Finally its December, 2015 and after few days the ICSI will conduct its examinations … thousands of hopeful students will give their attempt to clear the CS final examinations. I hope you all have prepared all the subjects very well and are ready to fight the battle. This series of articles will deal on some last minute suggestions that I wanted to share with you which will help you in last few days of preparation and also during the exams…

We will go subject specific and then cover some general tips for the exams… J

Subject Specific Tips: 

First thing first CS Final is a Professional Examination and everything in the ICSI Mat is Important. But there a few topics in every subject which require some more attention than others. So lets discuss them and check whether you have prepared them or not.

Company Secretarial Practice / Advanced Company Law:

This is the Core subject of the Syllabus and its great relief that the Institute is having its examination on the first day. Therefore you have time to revise it completely before exam.

The important topics which you need to take care of are :

Incorporation of Different types of Companies  and Eforms Required. , Process of Conversion of companies, Procedures and Resolutions W.R.T : Change of name, objects, registered office of a company, Additional requirement- change of objects for which money is raised through prospectus, Procedure for Altering Articles of Association.

Process of Dematerialization and Rematerialization of Shares, Procedure Issue of securities through public offer , Private placement, Rights shares, Employee stock option, Bonus Shares, Procedure for forfeiture of shares, Difference in forfeiture & Surrender of shares, Note on Debenture Redemption Reserve, Debenture Trustee, Procedure for Roll-over of non convertible portion of partly convertible debt instruments under SEBI (ICDR) Regulations, 2009,

Deposits : Its definitions, resolutions and Eforms (It’s a hot topic and expect questions from this chapter), Check list of secretarial compliance for acceptance of deposits as per CA, 2013, Procedure of Variation of member’s rights, Provisions and Procedure of Transfer of shares in Pvt and Public Co. as per The Companies Act 2013, Transposition of names,

SEBI (Prohibition of Insider Trading) Regulations, 2015, Provisions on Key managerial personnel, Procedure to appoint KMP , Directors, MD, Board Composition, Provisions of Woman Director & Independent Director ,Process to obtain and surrender DIN, Provisions of Additional Directors, nominee Directors, Directors interest in a contract or arrangement section 184(2), Provisions on Related party transactions, Prohibition and Restrictions Regarding Political Contribution, Short Notes on What is D & O Liability Insurance,

Duties of company secretary as prescribed in Companies (Appointment and Remuneration of Managerial Personnel) rules, 2014, Liabilities of Company Secretary, Vacancy in the office of whole-time KMP, Secretarial audit – Process , Applicablity and Checklist, Meetings of BOD, committee of directors,IMP Points of SS 1 & 2 (which I can Provide you on email), Voting through electronic mode, Procedure for passing of resolutions by postal ballot, appointment of auditors, Rotation of auditor, Casual vacancy in the office of auditors, Eligibility, qualification and disqualification of auditors, Note on National Financial Reporting Authority, Appointment of Cost Auditor and filing its report with MCA,

IMP Aspects of Directors’ report and DRS, Applicability of corporate social responsibility and areas covered in CSR, Procedure for payment of dividend, transfer of unpaid or unclaimed dividend to the IEPF, Registration & Satisfaction of charges – Eforms and Consequences of non-registration of charge,

Loans and investment by company [section 186] along with resolutions, Chapter E-FILING is must for Short notes on topics like: Corporate Identity Number (CIN), Global Location Number (GLN), Front Office and Back Office, Service Request Number (SRN), STP Forms, benefits of mca-21, XBRL Filing, Also read about the attachments for Different Eforms, Expect Questions from: Striking Off Names Of Companies, and Global Development of Company law(its VIMP Chapter DO NOT LEAVE THIS).        

IMP Sections to Revise from Bare Act and to Remember :

Section No.	Topic
12.	Registered office of company
13.	Alteration of memorandum
14.	Alteration of articles
18.	Conversion of companies already registered.
23.	Public offer and private placement.
26.	Matters to be stated in prospectus.
42.	Offer or invitation for subscription of securities on private placement.
53.	Prohibition on issue of shares at discount
54.	Issue of sweat equity shares
63.	Issue of bonus shares
68.	Power of company to purchase its own securities(Buy Back)
74.	Repayment of deposits, etc., accepted before commencement of this Act.
92.	Annual return.
96.	Annual general meeting
100.	Calling of extraordinary general meeting
110.	Postal ballot
108.	Voting through electronic means
121.	Report on annual general meeting
123.	Declaration of dividend
129.	Financial statement
134.	Financial statement, Board’s report, etc
135.	Corporate Social Responsibility
138.	Internal audit
139.	Appointment of auditors
149.	Appointment of Directors and ID
161.	Appointment of additional director, alternate director and nominee director
177.	Audit Committee
178.	Nomination and Remuneration Committee and Stakeholders Relationship Committee
182.	Prohibitions and restrictions regarding political contributions
184.	Disclosure of interest by director 185. Loan to directors, etc
186.	Loan and investment by company 186. Loan and investment by company
188.	Related party transactions 197. Overall maximum managerial remuneration
203.	Appointment of key managerial personnel 204. Secretarial audit 205. Functions of company secretary
455.	Dormant company

Learn the Following Schedules No.

Schedule I - Memorandum Of Association Of A Company Limited By Shares

Schedule II - Useful Lives To Compute Depreciation

Schedule iii -  Preparation Of Balance Sheet And Statement Of Profit And Loss Of A  Company

Schedule iv - Code For Independent Directors

Schedule V - Appointment Of A Managing Or Whole-Time Director Or A Manager Without The Approval Of The Central Government

Schedule vii - Corporate Social Responsibility Policies

Tips : Try revising more and more resolutions and not the easy ones most of the resolutions are there in the ICSI Study Mat after each chapters.

Please do not quote wrong section numbers and answers and irritate the examiner.If you can’t recollect theparticular Section, then better to write “ as per the provisions of CompaniesAct,2013/1956” rather than quoting a wrong section.  

- CS RAHUL HARSH 

(Associate Member of The ICSI)

-         WhatsApp: 9804179372

-         Email: csrahulharsh@gmail.com

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