GULATI INSTITUTE OF FINANCE AND TAXTION (GIFT) [Formerly Centre for Taxation Studies (CTS)] 1.1 Profile

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2 CONTENTS Part - I GULATI INSTITUTE OF FINANCE AND TAXTION (GIFT) [Formerly Centre for Taxation Studies (CTS)] 1.1 Profile Part II POST GRADUATE DIPLOMA IN TAXATION 2.1 Introduction 2.2 Nature and duration 2.3 Eligibility for studentship 2.4 Application for registration as a student & Fees 2.5 Registration and Admission 2.6 Payment of Fees 2.7 Refund of Fees 2.8 Contact Classes Part III EXAMINATION 3.1 Examination 3.2 Time Table 3.3 Eligibility for Appearance 3.4 Application for Examination 3.5 Examination Fees 3.6 Qualifying Marks 3.7 Examination Results 3.8 Revaluation Facility 3.9 Issue of Certificate ANNEXURE I. Syllabus II. Faculty III. Application Form

3 Part I GULATI INSTITUTE OF FINANCE AND TAXATION (GIFT) [(Formerly Centre for Taxation Studies (CTS)] PROFILE The Centre for Taxation studies (CTS) was formed in 1992 by Government of Kerala as an autonomous institution under the Travancore-Cochin Literary, Scientific and Charitable Societies Act 1955, with Head quarters at Thiruvananthapuram. From its inception, CTS is engaged in research, organizing courses & training programmes, consultancy and publications in the areas of Public Finance, Law, Taxation and Accountancy. During 2009, with the objective of elevating CTS as a centre of excellence, and the financial support from Government of India, Government of Kerala upgraded and renamed CTS as Gulati Institute of Finance and Taxation (GIFT). It is named after Professor I.S. Gulati, eminent economist who was closely associated with public policy making of Government of Kerala in various capacities, notably as Vice-chairman, of State Planning Board. Professor Gulati was also an authority on Centre - State financial relations, taxation, migrationrelated issues and international trade. The affairs of GIFT are directed, supervised and controlled by a Governing Body and an Executive Committee represented by senior IAS officers from State and Central Government, renowned economists, and management experts. The institute conducts theoretical and policy-oriented studies in the core areas mentioned above which are brought out in the form of working papers, monographs and research reports. It also provides training and consultancy services to corporate bodies, Government Departments especially Commercial Taxes Department of Kerala and other agencies. From 1992 it has been publishing a monthly law journal - Kerala Tax Reporter (KTR) - specialized in sales tax, value added tax, agricultural income tax, luxury tax and Money Lenders Act which has found a place of its own among the tax law journals in India. Since 1993, CTS has been conducting a correspondence course - Post Graduate Diploma in Taxation (PGDT) to enable students to enrol as sales tax practitioners. In 2004, Diploma in Sales Taxation (DST) was also launched to equip traders, small / medium entrepreneurs etc. with practical knowledge in the areas of sales taxation & accounting. 2

4 Part II POST GRADUATE DIPLOMA IN TAXATION 2.1 Introduction Finance and Taxation are areas vital both to the public and private sectors. These areas always offered immense career opportunities of various kinds as they encompass legal, management, administrative, accounting and public finance disciplines. The Post Graduate Diploma in Taxation (PGDT) aims to address this continuing need of trade and industry for qualified tax professionals. Unlike the courses offered by universities and other institutions, PGDT course provides both theoretical knowledge and skills to solve the practical problems faced by those in the fields of Sales Tax, Value Added Tax, Central Sales Tax, Income Tax etc. This course enables the students to acquire skills which have high demand in trade and industry particularly in the context of new taxation - Goods and Services Tax (GST). This course also enables the students to become registered sales tax practitioners as per Rule 97(3)(e) of the Value Added Tax Rules, 2005 and Rule 60(2)(e) of the Kerala General Sales Tax Rules, Nature and Duration The course is of one year duration and will be imparted through distance education programme. Under this scheme students are provided with study materials covering the course-content. They have to undergo contact class programme. The medium of instruction and examination will be English. The syllabus of the course is given in Annexure - I. POST GRADUATE DIPLOMA IN TAXATION 2.3 Eligibility for Studentship A pass in Degree or an equivalent course. Those who are studying for any other course can also join this course. Those who are awaiting the final Degree Examination results can also apply. There is no age bar. 2.4 Application for Registration as a Student and Fees Application for registration as a student shall be made in the prescribed form given in Annexure - III. The details of fees to be paid are as follows. 3

5 If paid in lumpsum If paid in Instalments Prospectus Rs 60 Prospectus Rs 60 Registration Fees Rs 500 Registration Fees Rs 500 Tuition Fees Rs 7500 (i) Tuition Fees (I st instalment) Rs 5500 (to be remitted along with the Application Form) Rs 6060 (ii) Tuition Fees (II nd instalment) Rs 2250 (to be remitted three months after first instalment) Total Rs 8060 Total Rs 8310 (to be remitted along with the Application form) The tuition fee is inclusive of the cost of 12 issues (January to December) of Kerala Tax Reporter (KTR), a Monthly Law Journal published by the Institute. Along with the application form, attested copies of the following certificates should be submitted. (i)sslc (ii)certificate showing a pass in degree or equivalent course Original should be produced only when called for verification. Copies of the certificates must be attested by a Gazetted Officer of the Central or State Government. Original Certificate should be produced as and when called for verification. Do not send original certificate to the GIFT along with application. 2.5 Registration and Admission Admission is open to all eligible candidates. Registration is valid for three years only. 2.6 Payment of Fees All fees should be paid by way of Demand Draft drawn in favour of The Registrar, GIFT, payable at Thiruvananthapuram. 2.7 Refund of Fees Fees once paid will not be refunded. However, if the application is rejected by GIFT, only the amount of tuition fees paid (subject to deduction of administrative charges and registration fees) will be refunded. 2.8 Contact Classes Seven days of contact classes will be conducted at different districts in the State, subject to the availabiity of students. 4

6 Part II EXAMINATION 3.1 Examination Examination will be conducted at the end of the Course at various Districts in Kerala subject to the availability of students. In addition to the regular examination, supplementary examination will also be held. 3.2 Time - Table The time table for the examination will be sent directly to the candidates. 3.3 Eligibility for Appearance At the end of the course, a Course Completion Certificate will be issued. Only those who have obtained Course Completion Certificates are eligible to apply for the examination. 3.4 Application for Examination Application for the examination must be made in the prescribed form along with the examination fee. The application, complete in every respect, should reach GIFT not later than the date notified. 3.5 Examination Fees The examination fee is Rs. 300/-. For mode of payment of fee, refer para 2.6. Examination fee once paid will not be refunded under any circumstances. 3.6 Qualifying Marks A candidate shall be declared to have passed the examination only if he obtains 40% marks in each paper. POST GRADUATE DIPLOMA IN TAXATION 3.7. Examination Results Examination results will be communicated to the candidate. It will also be published in the Kerala Tax Reporter and other major news papers. 3.8 Revaluation Facility Application for Revaluation of answer sheets should be sent to GIFT within 15 days of receipt of the marklist along with a fee of Rs. 50/- per paper in the manner prescribed in para

7 3.9 Issue of Certificates Successful candidates will be awarded Post Graduate Diploma in Taxation Certificate under the seal of GIFT. For further enquiries contact / write to The Co-ordinator [PGDT] Gulati Institute of Finance and Taxation [GIFT] Kaimanam, Pappanamcode. P.O.Thiruvananthapuram - 18 Ph: , ANNEXURE I SYLLABUS PAPER NO. Subject EXAMINATION Duration Maximum (Hours) (Marks) I - Economics of Taxation and Office Management II - General Laws of Taxation III - Kerala Value Added Tax Law & Practice IV - Central Sales Tax Law & Practice V - Direct Taxes Law & Practice VI - Tax Planning & Accountancy Total 600 PAPER I ECONOMICS OF TAXATION AND OFFICE MANAGEMENT PART A : ECONOMICS OF TAXATION Scope of Public Finance; Principles of Taxation; Tax Structure - Kinds of Taxes; Central and State Tax Structure; Theories of Tax Incidence; Effects of Taxation; Union and State Budgets; Public Expenditure; Public Debt; Centre-State Financial Relations; Introduction to Goods and Service Tax (GST). (50 marks) PART B : OFFICE MANAGEMENT Management - Introduction - Evolution of Management Thought; The Office and its Functions; Office Management ; Planning & Budgeting; Office Organisation ; Office Systems and Routines; Records Management - Forms; Communication - Office Cost Reduction and Cost Saving; Business Reports (50 marks) 6

8 PAPER II GENERAL LAWS OF TAXATION Taxing Power of Union and State Governments - Freedom of Trade, Profession and Occupation - Freedom of Trade, Commerce and Intercourse - Powers and Functions of Supreme Court and High Courts - Interpretation of Statutes - General Clauses Act and terms defined - Relevant provisions of Sale of Goods Act, 1930; Indian Contract Act, 1872; Law of Partnership Act, 1932; Negotiable Instruments Act, 1881; Companies Act, Law of Trust Act, PAPER III KERALA VALUE ADDED TAX LAW AND PRACTICE Introduction - Historical Back Ground - Constitutional Provisions - Terms and Definitions - Incidence and Levy of Tax - Purchase Tax - Presumptive Tax - Input tax credit - Reverse tax - Special rebating - Refund of input tax - Registration - Submission of returns - Assessment of tax - Payment and recovery of tax - Maintenance of Books of Accounts - Inspection of business places and goods - Appeals and Revisions - Offences and Penalties - Appearance by Representitives - Service of Notice. Relevant Statutory Forms, e-filing procedures. Kerala General Sales Tax Act and Rules - Relevant provisions only. PAPER IV CENTRAL SALES TAX LAW AND PRACTICE Constitutional - Terms and Definitions - Sale in the course of interstate trade or commerce - Sale or purchase in the course of export or import - Tax on Inter-State sales - Rate of Tax - Consignment or Stock Transfer - Registration - Determination of Turnover - Levy and Collection of Tax - Penalties - Penalty in lieu of Prosecution - Power to make rules - Goods of Special Importance and Rate of Tax - Central Sales Tax Appellate Authority. PAPER V DIRECT TAXES - LAW AND PRACTICE [Section A - Income Tax Act, 1961 (43 of 1961)] Basic Concepts and Definitions - Residential Status and Incidence of Tax - Incomes exempt from tax - Computation of income under various heads: Salary - House Property - Profit and Gains of Business and Profession - Capital Gains - Other source - Clubbing of Incomes; Aggregation of income and Set off and carry forward of Losses - Deductions from Gross Total Income - Assessment of Individual; Income Tax Authorities. Procedure of Assessments; Filing of Return - Types of Assessments - Deduction of tax at source (TDS) - Payment of Advance Tax. (75 marks) POST GRADUATE DIPLOMA IN TAXATION Relevant provisions of Wealth Tax Act, 1957 and Kerala Agricultural Income Tax Act, 1991 (25 marks) 7

9 PAPER VI TAX PLANNING AND ACCOUNTANCY TAX PLANNING Tax Planning, Tax Management, Tax Evasion and Tax Avoidance; Tax Planning under Income Tax & Value Added Tax. (10 Marks) ACCOUNTANCY Business Transactions; Double Entry Principle; Rules of Debit and Credit; Journal; Ledger; Vouchers; Subsidiary Books; Bank reconciliation statement; Errors and their rectification; Trial balance; Final accounts of Manufacturing Account, Trading account, Profit and loss account and Balance sheet, Capital and Revenue: Final Accounts of Non-trading Concerns; Consignment Accounts, Joint Venture Accounts, Account Current, Average Due Date; Value Added Tax (VAT) Accounting (90 Marks) ANNEXURE II FACULTY GIFT has experienced faculty in the following disciplines: LAW Dr. K. Gopakumar LL.M. PhD. Sri. M.L. Paul M.Com. LL.M. Smt. Jenny Thekkekara LL.M. ACCOUNTING & MANAGEMENT Dr. C.S. Venkiteswaran M.Com. PhD. Dr. Thomas Joseph Thoomkuzhy M.Com., LL.B, PhD. Dr. N. Ramalingam M.Com. LL.B. PhD. PUBLIC FINANCE Smt. L. Anitha Kumary Amma M.A, B.Ed. M.Phil. Smt. R. Shyama Nair M.A. M.Phil. 8

10 POST GRADUATE DIPLOMA IN TAXATION Annexure III No. EE. GULATI INSTITUTE OF FINANCE AND TAXATION (GIFT) [Formerly Centre for Taxation Studies (CTS] APPLICATION FORM (STUDENTS CODE NO: (for office use) P Affix one passport size photo here 1.Name (IN CAPITALS) (as per the Degree Certificate) 2. Father s / Husband s Name 3. Age & Date of Birth 4.Gender Male / Female 5. Address to which communications are to be sent: (IN CAPITALS) District: Pin Land Phone No: Mobile No: 6. Educational Qualifications:- Examinations Passed Class / Grade % Marks (1) (2) (3) (4) (5)

11 7.(a) Whether employed Yes / No (b) If Yes, Occupational address Pin District Phone No 8. Enclose Attested photocopies of certificates (1) SSLC (2) Degree 9.A sum of (Rs ) Rupees has been paid to the account of the Registrar, GIFT by Demand Draft No. Dated of branch of Bank payable at Thiruvananthapuram towards fee as detailed below: Prospectus : Rs Registration : Rs Tuition Fees (First Instalment / full) : Rs Total : Rs I, (Name) do hereby declare that the information furnished above are true, correct and complete to my knowledge and belief and if at any time it be proved that particulars given above are untrue, I agree my registration be cancelled without any obligation on the part of GIFT to refund the fee paid already and without prejudice to the right of GIFT to take any action it thinks to be fit and appropriate. Place: Date : Signature FOR OFFICE USE ONLY

post graduate diploma

post graduate diploma IN goods & services taxation PROSPECTUS - 2018 (An autonomous institution formed by Government of Kerala) THIRUVANANTHAPURAM - 695 017 Phone : 0471-2596960, 2596970, 2596980, 2590880