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GST Applicability for CA Intermediate | CA IPCC CA Final Exam – nov 2017

GST Applicability for CA IPCC CA Final Exam: GST Applicability for CA Intermediate | CA IPCC CA Final Exams  nov 2017 – GST Applicability for CA Intermediate | CA IPCC and CA Final Exams is a trending question. GST Applicability for CA Intermediate | CA IPCC CA Final Exam Course Syllabus for nov 2017 ICAI Exams.GST Bill has been passed very recently by the Rajya Sabha and CA Students are in confusion whether GST will be applicable for CA Intermediate | CA IPCC nov 2017 and CA Final nov 2017 exams. Also, we get queries regarding, From which attempt GST will be applicable for CA Students. In this article, we would like to clarify all these queries regarding the Expected Applicability of GST for CA Exams based on our own assumptions.

GST Applicability for CA IPCC CA Final Exam

Scroll down and check GST to be examined for 10 marks in CA Final Nov IDT paper

GST Applicability for CA IPCC CA Final Exam

GST Council meeting to finalise draft model GST law today

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Applicability of GST for IPCC Nov 2017

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ICAI has recently released a notification regarding the applicability of GST in CA examinations.Applicability of the all new Goods and Services Tax (GST) has been a topic of confusion among the students. To eliminate this confusion, the Institute has released a clarification.

GST Applicability for CA IPCC CA Final Exam: GST is NOT Applicable in Nov 2017 examinations for CA Intermediate | CA IPCC. The Indirect Tax portion of the Paper 4 – Taxation (IPCC) will be unaffected in this regard.

The institute has advised the students of intermediate course to carry on with their regular studies. Hence, IPCC students need not worry for now. They are required to study the existing indirect taxes.

GST to be made applicable from May, 2018 examination onwards for Intermediate (IPC) Course and Final Course.

The Council of ICAI has decided that Goods and Services Tax (GST) will be examined in both Part II: Indirect Taxes of Paper 4: Taxation of Intermediate (IPC) Course and Paper 8: Indirect Tax Laws of Final Course from May, 2018 examination onwards.

GST Applicability for CA IPCC CA Final Exam: GST Applicability for CA Intermediate | CA IPCC CA Final Exam

Goods and Service Tax Act Applicability in CA Exams Final IPCC.GST stand for Goods and Service Tax. GST is taken as the greatest Tax reform in India.The Government of India is going to made effective the GST from 1st April 2017. So what will be the status of GST Applicability in CA Final May 2017 Exams.

Will GST Be applicable for May 2017?

Friends, as per my point of view, It will not be possible to include GST In CA Course (Final & IPCE) for May 2017 Exams. The Straight answer is NO. Even though GST has already been approved by the government, the final bill is still need to be drafted and notified by the Central Government.As all of you know that the ICAI has been announced to revise the entire CA Syllabus. However, no official statement is issued about the Applicability of CA New Syllabus. But it is expected that the new syllabus of CA course may be applicable from November 2017 exams.

After Central Government Notifies that bill, ICAI will likely then take into consideration the bill and prepare final set of Study Materials for CA Intermediate | CA IPCC and CA Final Exams.

All this procedure is going to take a minimum of 6-8 months easily. This means that, GST will surely not be applicable for next May 2017 CA Final and CA Intermediate | CA IPCC exams.

GST Applicability for CA IPCC CA Final Exam: GST Applicability for CA Intermediate | CA IPCC CA Final Exam Nov 2017

Taking into consideration the above mentioned explanation, it is clear that, by the time ICAI prepares the new Study Material for CA Intermediate | CA IPCC and CA final students incorporating the changes from GST, it will be in the months of Sept or Oct 2017.

Therefore, it is quite clear that GST will not be applicable for Nov 2017 CA Intermediate | CA IPCC and CA Final exams too.

Will GST Replace Existing CA Syllabus?

Likely Yes. The introduction of GST is likely to be coincided with the introduction of New CA Syllabus in a year. This means, ICAI will likely replace the existing Indirect Taxes syllabus with the new GST.

An unnamed council member from New Delhi has provided us information that, the applicability of new CA syllabus is likely to be postponed by a year so that the GST can be inserted into the Tax Syllabus of CA Intermediate | CA IPCC and CA Final courses.

GST Applicability for CA IPCC CA Final Exam: GST to be examined for 10 marks in CA Final Nov IDT paper

Considering the significance of the upcoming GST regime and the recent developments towards its implementation, the Council of ICAI, at its 365th meeting, has decided that students appearing in November, 2017 final examination be also examined on “Overview of GST” for 10 marks in Paper 8: Indirect Tax Laws.

Overview of GST” has been included in the syllabus of Final Paper 8: Indirect Tax Laws in the following manner:

  • 10 marks on “Overview of GST” have been accommodated in Section B: Service Tax (which presently carries 50 marks) with simultaneous exclusion of certain topics from central excise and service tax:
  • The syllabus of Final Paper 8: Indirect Tax Laws after incorporating “Overview of GST” for 10 marks is given as Annexure A. The exclusions from central excise and service tax are given as Annexure B.
  • Overview of GST will be tested in the examination in first compulsory question carrying 20 marks and only knowledge and comprehension based question will be asked from this topic. Thus, out of 20 marks allotted to the compulsory question, 10 marks will be allocated to Overview of GST and remaining 10 will be allocated to central excise and customs.
  • “Overview of GST” will cover an introduction to GST laws in India and basic concepts relating to supply, composite and mixed supplies and charge of tax.

The Supplementary Study Paper on “Overview of GST” covering the content to be examined in November, 2017 final examination for 10 marks will be hosted on the ICAI website by the end of this month.

GST Applicability for CA IPCC CA Final Exam: Applicability of GST for IPCC & Final Nov 2017

Important Note – Preparing for CA Final?
CAKART provides Indias top faculty each subject video classes and lectures – online & in Pen Drive/ DVD – at very cost effective rates. Get video classes from CAKART.in. Quality is much better than local tuition, so results are much better.
Watch Sample Video Now by clicking on the link(s) below – 
For any questions Request A Call Back  

ICAI has recently released a notification regarding the applicability of GST in CA examinations. Applicability of the all new Goods and Services Tax (GST) has been a topic of confusion among the students. To eliminate this confusion, the Institute has released a clarification.

GST is NOT Applicable in Nov 2017 examinations for CA Intermediate | CA IPCC. The Indirect Tax portion of the Paper 4 – Taxation (IPCC) will be unaffected in this regard.

The institute has advised the students of intermediate course to carry on with their regular studies. Hence, IPCC students need not worry for now. They are required to study the existing indirect taxes.

However, this notification does not cover CA Final students. Students of the Final course are advised by the BoS to wait for a notification regarding applicability of GST. This means that GST may be made applicable for CA Final Nov 17 IDT paper. Nothing can be certainly said for now. Hence, the Final students will have to wait till further information is provided by the Institute

GST Applicability for CA IPCC CA Final Exam: From Which Attempt GST will be applicable

The target date for introduction of GST is 1st July 2017 Introduction of this transformational tax reform is expected to broaden the tax base, increase tax compliance and reduce economic distortions caused by inter-State variations in taxes. GST will boost economic activity and will benefit everyone. It will streamline the tax administration, avoid harassment of the business and result in higher revenue collection for the Centre and States. Compliance costs for the industry will go down. Last but not the least, it will create more jobs. In sum, it would be a win-win situation for everyone i.e. taxpayers, governments, consumers, etc.

It is quite clear that GST wont become applicable in 2017. Our best guess and based on the inputs from ICAI Council members, GST might be made applicable for CA Final Exams from May 2018.

However, for CA Intermediate | CA IPCC Students, GST will be applicable only from Nov 2018 Examinations.

GST Applicability for CA IPCC CA Final Exam

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