Posts Tagged ‘CA IPCC’


Important Announcement

Exclusion of Certain Topics from the Paper 7A of IPCC – Information Technology for May 2013 Examination and Onwards

It has been decided that in IPCC Group II Paper 7A: Information Technology paper, no questions will be asked from the following Chapters/Units from the study material in May 2013 examination and onwards.

Chapter

Number

Chapter/Unit Name

Excluded Portion

Chapter 1 Unit I: Introduction to Computers

Unit II: Input and Output Devices

Complete unit

Complete unit

Chapter 4 Internet and Other Technologies Electronic Data Interchange (EDI)

It is further clarified that complete Unit III “Software” of Chapter 1 and all other topics apart from EDI in Chapter IV: Internet and Other Technologies would continue to be applicable for May 2013 examination.

Source: The Institute of Chartered Accountants of India.


APPLICABILITY/NON-APPLICABILITY OF NEGATIVE LIST AND RELATED TOPICS IN SYLLABUS OF PART II: SERVICE TAX AND VAT OF PAPER 4: TAXATION (IPCC) FROM MAY 2013 EXAMINATION ONWARDS

The Examination Committee at its 498th meeting held on September 23, 2012 has decided that the following sections of the Finance Act, 1994/rules will be covered under point no. 1 (Concepts and General principles) and point no. 2 (Charge of service tax and taxable services) of syllabus of Part II:

Service tax & VAT in Paper 4: Taxation from May 2013 examination onwards:

(i) Section 64 – Extent, commencement and application

(ii) Sections 65B – Interpretations [only relevant ones which would be required to explain the concepts included]

(iii) Section 66B – Charge of service tax on and after Finance Act, 2012

(iv) Section 66D – Negative list of services

(v) Section 66F – Principles of interpretation of specified descriptions of services or bundled services.

(vi) Section 67A – Date of determination of rate of tax, value of taxable service and rate of exchange

(vii) Point of Taxation Rules, 2011

It may be noted that the above-stated Sr. No.(i) – Section 64 and Sr. No.(vii) – Point of Taxation Rules, 2011 have already been covered in the existing syllabus so far. Thus, only Sr. Nos.(ii) to (vi) have been included as new topics in the syllabus under point no.1 (Concepts and General principles) and point no.2 (Charge of service tax and Taxable services).

The Committee further decided that the following topics pertaining to service tax law will not be included in the syllabus:

(i) Section 66C – Determination of place of provision of service

(ii) Section 66E – Declared services

(iii) Place of Provision of Service Rules, 2012

(iv) Section 68(2) and Reverse Charge notification

(v) Export of Services vide rule 6A of the Service Tax Rules, 1994

(vi) Mega exemption notification and other exemptions

(vii) Abatement notification

In furtherance to the above-mentioned decision, it is clarified that other topics viz., valuation of taxable service, payment of service tax and filing of returns, topics related to VAT etc. as covered in the Study Material will continue to apply as they used to apply before.

In view of the far-reaching changes effected with the introduction of negative list approach of taxation in service tax, Study Material and Practice Manual of Part-II: Service tax & VAT of Paper 4: Taxation (contained in Volume III) [November edition] have been completely revamped. Students may note that the revised Study Material and Practice Manual have been prepared in accordance with the abovementioned decision of the Examination Committee.

In other words, all the chapters of the revised Study Material and Practice Manual would be applicable for examination purposes.

Hence, students with the older editions of the Study Material and Practice Manual are advised to read the new edition [November edition].

Click here to download the above in PDF Format.

Source: The Institute of Chartered Accountants of India.


Examination on 4th November 2012 at Shimla Centre (Himachal Pradesh) for IPCE/PCE is Rescheduled to 19th November, 2012

NOTIFICATION dated 15th October, 2012 

No.13-CA(Exam)/N/2012/II: In partial modification of the Institute’s Notification No. 13-CA(Exam)/N/2012 dated 4th July, 2012, it is notified for general information that in view of the Election to the Himachal Pradesh State Legislative Assembly, Group – 1, Paper – 2, Business Laws, Ethics and Communications of Integrated Professional Competence Examination and Group – 1, Paper – 3, Law, Ethics and Communication of Professional Competence Examination scheduled to be held on Sunday, the 4th November, 2012 at Shimla centre stand postponed and the examination in the said papers shall now be held at Shimla centre on Monday, 19th November, 2012 at the same venue and at the same timings i.e. 2.00 PM to 5.00 PM. Admit Cards already issued would remain valid.

(G. Somasekhar)

Additional Secretary (Examinations)

Click here to download the above Notification in PDF Format.

Source: The Institute of Chartered Accountants of India.


IMPORTANT ANNOUNCEMENT

October 5th, 2012

Due to paucity of accommodation in some Zones opted by the candidates in the cities of Chennai, Indore and Mumbai some of the candidates have been allotted examinations centres in the zone other than the zone opted in the said cities. In view of this, it is not possible to accede to the requests of the candidates for transfer to an examination centre in a particular zone of the city opted by them.

While inconvenience caused in the matter is deeply regretted, we seek the cooperation from the ICAI students and other stakeholders in this regard.

(G. Somasekhar)

Additional Secretary (Exams)

Source: The Institute of Chartered Accountants of India.


Further Clarification – Non-Applicability of Taxable Services in IPCE-Paper 4: Taxation for November, 2012 Examinations

We have received large number of queries from the students with regard to the BoS’ announcement dated 07.07.2012 relating to the non-applicability of taxable services in IPCE-Paper 4: Taxation for November 2012 examinations. In this regard, it is reiterated that the Examination Committee at its 497th meeting held in September, 2012 has decided that students appearing in November 2012 examinations will not be examined with respect to specific services in the area of service tax laws in Part-II Service Tax and VAT of Paper 4: Taxation (IPCE).

Therefore, it is clarified that ALL the taxable services (including the eight (8) services notified earlier by the BOS through its announcement dated 14.09.2011) will not be relevant for November 2012 exams.

It is further clarified that Unit 2 of Chapter 2 : Taxable Services of Part II: Service tax and VAT of Study Material and Practice Manual for Paper 4: Taxation will NOT be relevant for November, 2012 examinations. However, it may be noted that all other chapters of the Study Material and Practice Manual are relevant for November 2012 examination.

Based on the queries received from the students, the following are further clarified:

(i) Negative list of services and other amendments made vide the Finance Act, 2012 are not relevant for Nov 2012 exams.

(ii) Marks distribution between the two parts namely, Part I : Income Tax (50 marks) and Part II: Service Tax and VAT (25 for Service Tax and 25 for VAT) has not changed.

(iii) All the Chapters on VAT including Chapter 5: Input Tax Credit and Composition Scheme for Small Dealers and Chapter 6 : VAT Procedures given in Part II: Service tax and VAT of Study Material and Practice Manual for Paper 4: Taxation (IPCC) are applicable for November 2012 exams.

Director Board of Studies

Click here to download the above Clarification in PDF Format.

Source: The Institute of Chartered Accountants of India.