GST Applicability in CA Final, CA Intermediate/IPCC May 2018 exam

GST Applicability in CA Final, CA Intermediate/IPCC May 2018 exam

GST Applicability in CA Final Exam: 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 (IPCC) Course and Paper 8 Indirect Tax Laws of Final Course from May, 2018 examination onwards.

For CA Final Students, GST is applicable for 75 Marks, starting may 2018 exams.

For CA IPCC Students, GST is applicable for a total of 50 Marks under the Indirect Tax section.

Download CA Final GST study material by clicking on the image below

GST Applicability in CA Final May 2018 exam

GST Applicability in CA Final May 2018 exam

Download CA Intermediate/IPCC GST study material by clicking on the image below

CA Intermediate GST Study material for May 2018 exam

CA Intermediate GST Study material for May 2018 exam

GST Applicability in CA Final, CA Intermediate/IPCC

GST Applicability in CA Final Exam: The implementation of the GST bill will call for major changes in the CA final and CA Intermediate/IPCC exam.

GST shall replace following Acts.

  • Service Tax
  • Excise Act
  • Central Sales Tax Act
  • Value Added Tax

Let us discuss the proposed syllabus after implementation of GST.

Old Syllabus (IDT)New Syllabus (GST)
  • Service Tax
  • Excise Act
  • Central Sales Tax Act
  • Value Added Tax
  • Customs Act 1962
  • GST
  • Customs Act 1962

GST Applicability in CA Final May 2018 ICAI

GST Applicability in CA Final Exam: For CA Final Paper 8 Indirect Tax Laws, the following are applicable for May, 2018 examination:

  • The provisions of CGST Act, 2017 and IGST Act, 2017, including significant circulars and notifications issued and other legislative amendments made upto 31st October,
  • The provisions of the Customs Act, 1962, as amended by the Finance Act, 2017, including significant notifications and circulars issued and other legislative amendments made up to 31st October,

The subject matter of Part I Goods and Services Tax of August 2017 Edition of the Final (New Course) Study Material is based on the provisions of the Central Goods and Services Tax Act, 2017 and Integrated Goods and Services Act, 2017 as amended upto 15.09.2017. The content discussed in Part II: Customs & FTP is based on the customs law as amended by the Finance Act, 2017 and significant notifications and circulars issued till 30.04.2017. It may be noted that August 2017 Edition of the Study Material for Final (New Course) Paper 8 is applicable for Final (Old) Course Paper 8 also.

The significant legislative developments by way of notifications/circulars issued from 16.09.2017 to 31.10.2017 in Goods and Services Tax and from 01.05.2017 to 31.10.2017 in Customs are given hereunder as Statutory Update.

Study Materials applicable for Paper 7 Direct Tax Laws & Paper 8 Indirect Tax Laws 

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GST Applicability in CA Final Exam: Students of Final (Old) Course, appearing in May, 2018 and November, 2018 examinations, may note that the new Study Materials for Final Paper 7: Direct Tax Laws and International Taxation and Final Paper 8: Indirect Tax Laws under the Revised Scheme of Education and Training are relevant for Papers 7 & 8 of the Final (Old) Course as well, with the exception of the following three chapters in Module 4 of the Study Material of Paper 7 Part II: International Taxation, namely,

Chapter 6: Overview of Model Tax Conventions;

Chapter 7: Application and Interpretation of Tax Treaties; and

Chapter 8: Fundamentals of Base Erosion and Profit Shifting.

Thus, Modules 1,2,3 and chapters 1 to 5 of Module 4 of Study Material of Final (New) Paper 7: Direct Tax Laws and International Taxation are relevant for Final (Old) Paper 7: Direct Tax Laws also. The content of the Study Material is based on the direct tax laws as amended by the Finance Act, 2017. The relevant assessment year is A.Y.2018-19.

Students may note that in the new course Final Paper 7 is divided into two parts, namely, Part I: Direct Tax Laws carrying 70 marks and Part II: International Taxation carrying 30 marks. There is no such marks bifurcation in the old course Final Paper 7: Direct Tax Laws.

As far as Paper 8: Indirect Tax Laws is concerned, the syllabus is the same in both old course and new course, and hence, the Study Material for new course is applicable for the old course. The syllabus is divided into two parts: Part I : GST (75 marks)and Part II: Customs and FTP(25 marks). Here again, the content of Part II is based on the law as amended by the Finance Act, 2017.

To Read more details on CA Final Study material read this articles.

Integrated Study Materials for Final Paper 7 & 8 [incorporating questions from erstwhile Practice Manual, case laws from Select Cases and amendments in italics/bold italics] 

GST Applicability in CA Final Exam: Students of Final (Old) Course may also note that the new course Study Materials for Final Papers 7 & 8 include questions from erstwhile Direct and Indirect Tax Laws Practice Manuals, modified, adapted and answered on the basis of the provisions of direct tax laws and customs law as amended by the Finance Act, 2017. Further, these Study Materials incorporate significant select cases in direct tax laws and customs law at the end of the respective chapters. Case laws are also discussed in the content of the Study Materials as well as in the answers to exercise questions. The amendments by the Finance Act, 2017 in direct tax laws and customs law and latest circulars and notifications are given in italics/bold italics for ease of reference. In effect, the new course Study Materials for Final Papers 7 & 8 are integrated materials incorporating questions and answers from erstwhile Practice Manual, case laws and latest amendments in direct tax laws and customs law. Since the Study Materials are all inclusive, there would be no separate Practice Manual, Supplementary Study Paper or Select Cases for Papers 7 & 8 either under the Old Course or the New Course.

It may be noted that GST, being a new law, fresh questions have been included in the Study Material as examples, illustrations and exercise questions with answers.

Students may also note that the Revision Test Papers and Mock Test Papers for May 2018 and November 2018 would also contain questions on these subjects for further honing your problem-solving skills.

GST Applicability in CA Intermediate/IPCC May 2018 ICAI

GST Applicability in CA Final Exam: GST will be examined in May, 2018 CA IPCC examination in Section B Indirect Taxes of Paper 4 Taxation (carrying 50 Marks) under old scheme of education and training.
Further, GST will be examined in May, 2018 CA Intermediate examination in Section B Indirect Taxes of Paper 4 Taxation (carrying 40 Marks) under new scheme of education and training. Detailed syllabus of Section B Indirect Taxes of Paper 4 Taxation under new scheme of education and training.

For CA IPCC Students, GST Syllabus will cover all basic topics like Introduction to GST, Supply, Filing of GST Returns etc.

  • GST in India – An Introduction
  • Supply under GST
  • Charge of GST
  • Exemptions from GST
  • Time of Supply
  • Value of Supply
  • Input Tax Credit
  • Registration
  • Tax Invoice, Credit and Debit Notes
  • Payment of Tax
  • Returns

To Read more details on CA IPCC Study material and CA Intermediate study material read this articles.

Frequently asked questions on GST Applicability in CA Final, CA Intermediate/IPCC May 2018 exam

Q1.Which is the best book to study the GST for the CA final May 2018 exams

GST Applicability in CA Final Exam: Refer ICAI study material for CA Final GST. Along with this refer CAKART download section to get more free study material

Q2.Is the GST applicable to IPCC students under the old scheme appearing for the May 2018 attempt?

GST Applicability in CA IPCC Exam: GST will be applicable for May 2018 attempt to all the students, whether registered in old syllabus or in new.

For any questions please use the comments section below.

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Preparing for CA Final? - Must read below
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 demo videos below -

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