We report the timing and spectral properties of Be/X-ray binary pulsar GX 304-1 by using two Suzaku observations during its 2010 August and 2012 January X-ray outbursts. Pulsations at ~275 s were clearly detected in the light curves from both the observations. Pulse profiles were found to be strongly energy-dependent. During 2010 observation, prominent dips seen in soft X-ray ($leq$10 keV) pulse profiles were found to be absent at higher energies. However, during 2012 observation, the pulse profiles were complex due to the presence of several dips. Significant changes in the shape of the pulse profiles were detected at high energies ($>$35 keV). A phase shift of $sim$0.3 was detected while comparing the phase of main dip in pulse profiles below and above $sim$35 keV. Broad-band energy spectrum of pulsar was well described by a partially absorbed Negative and Positive power-law with Exponential cutoff (NPEX) model with 6.4 keV iron line and a cyclotron absorption feature. Energy of cyclotron absorption line was found to be $sim$53 and 50 keV for 2010 and 2012 observations, respectively, indicating a marginal positive dependence on source luminosity. Based on the results obtained from phase-resolved spectroscopy, the absorption dips in the pulse profiles can be interpreted as due to the presence of additional matter at same phases. Observed positive correlation between cyclotron line energy and luminosity, and significant pulse-phase variation of cyclotron parameters are discussed in the perspective of theoretical models on cyclotron absorption line in X-ray pulsars.
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