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Nov 2017

The Carocks.blog in May, 2017

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Hi everyone! Check out some of the new updates, announcements, and downloads from the ICAI for the Month of May, 2017.

What’s new

Changes in the Exam Paper writing Pattern for IPCC Paper 4 – Taxation

Bifurcation of Paper 4- Taxation of Intermediate (IPC) Examination into two sections. – (31-05-2017)

It may be observed that currently Paper 4 Taxation of Intermediate (IPC) examination covers questions from both Direct and Indirect Taxes. Candidates are required to write their answers thereon on a single answer book.

It has now been decided to bifurcate the above mentioned Paper 4- Taxation of Intermediate (IPC) into two sections.

Accordingly, the question paper in respect of Paper 4 will have two sections.

Section A- covering questions from Direct Taxes ( 50 marks)
Section B- covering questions from Indirect Taxes ( 50 marks)

The said paper will continue to be held in a single session of 3 hours. Candidates will be required to write their answers in respect of each of the sections in two separate answer books. They will be required to write answers relating to Direct Taxes in the answer book meant for Section A ( duly marked “A” ) and those relating to Indirect Taxes in the answer book meant for Section B( duly marked “B”).

Consolidated marks of both the sections would be indicated in the statement of marks.

The paper will be treated as a single paper for the purpose of passing requirements, exemptions and for providing certified copies.

The above arrangement will operate on the same lines as Paper 7- Information Technology and Strategic Management of Intermediate (IPC) examination.

The bifurcation as mentioned above will be effective from the Intermediate(IPC) examination to be held in November 2017 and onwards.

10 marks Questions of GST in CA Final Indirect Taxes for November, 2017 Exams

 

ICAI Announcement:

Sub: GST TO BE EXAMINED FOR 10 MARKS IN PAPER 8: INDIRECT TAX LAWS IN NOVEMBER, 2017 FINAL EXAMINATION

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.

CPT Exam Centre Change for Bengaluru & Thane-Zone-1 Applied Students for June, 2017

ICAI Announcement:

Change of venue in respect of some of the candidates at Bengaluru & Thane-Zone-1, for Common Proficiency Test (CPT) scheduled to be held on 18th June, 2017

It is hereby informed that due to unavoidable circumstances, the venue/s of Common Proficiency Test (CPT) scheduled to be held on 18th June, 2017 in respect of some of the candidates at Bengaluru and Thane, are being changed.

1. Bengaluru

Existing venue:

Kanaka College of Arts, Science and Management Studies #15, 80ft. Road Srinivas Nagar (Near Bata Showroom) Bengaluru- 560050

New Venue:

Vijaya College (Formerly BHS First Grade College) 11th Main Road, Opp. Cool Joint IV Block Jayanagar BENGALURU -560011

Roll numbers affected:

From 727993 to 728158

2. Thane 

Existing venue:

Audyogik Shikshan Mandal’s Institute of Management & Computer Studies C – 4, Wagle Ind. Estate THANE (WEST) 400604

New Venue:

Mulund College of Commerce Sarojini Naidu Road Mulund (West) MUMBAI-400080

Roll numbers affected:

From 722411 to 722746

Balance candidates who are allotted to Kanaka College of Arts, Science and Management Studies #15, 80ft. Road Srinivas Nagar (Near Bata Showroom) BENGALURU 560050 with roll numbers from 727544 to 727992 & 800040 will appear in the exam at Kanaka College of Arts, Science and Management Studies only.

Balance candidates who are allotted to Audyogik Shikshan Mandal’s Institute of Management & Computer Studies C – 4, Wagle Ind. Estate THANE (WEST)-400604 with roll numbers from 721987 to 722410 & 800036 will appear in the exam at Audyogik Shikshan Mandal’s Institute of Management & Computer Studies only.

Accordingly, candidates of CPT-June, 2017 with Roll numbers mentioned at S.NO.1 & 2 in table above, who are scheduled to appear in the said exam on 18th June, 2017 at the above mentioned exam centres in Bengaluru and Thane are requested to take note of the change in venue and appear in their examination, at the new venue/s.

Such candidates may note that admit cards already issued for CPT-June, 2017 examination will remain valid for the new venue also. All other details remain unchanged.

ICAI Revise Scheme of study applicable from 1st July 2017 – New Course

Important Announcement

Sub: Implementation of Revised Scheme of Education and Training for CA Course w.e.f. 1st July, 2017.

All concerned are hereby informed that the Revised Scheme of Education and Training for CA course will come into effect from 1st July, 2017. Students who are eligible to register in the CPT/IIPCC/Final under the existing scheme, may register on or before 30th June, 2017. With effect from 1st July, 2017, the registration in the CPT/IIPCC/Final under the existing scheme will discontinue.

The Revised Scheme will be made available shortly at http://www.icai.org

Applicability of Insolvency and Bankruptcy Code, 2016 in the Paper 4: Corporate and Allied Laws for November 2017, Examinations

25th May, 2017

Important Announcement for Final Course students

Sub: Applicability of Insolvency and Bankruptcy Code, 2016 in the Paper 4: Corporate and Allied Laws for November 2017, Examinations

The Council has approved the inclusion of “Overview of the Insolvency and Bankruptcy Code, 2016” for 10 Marks for November 2017 examinations and onwards.

With the addition of the Insolvency and Bankruptcy Code, 2016, marks allocation will be as under:
S. No. Topics Marks

1. Company Laws 60 Marks

2. Insolvency and Bankruptcy Code, 2016 10 Marks

3. Allied Laws 30 Marks

For the benefit of our students, the Board of Studies will be releasing a reading material on the aforementioned Insolvency and Bankruptcy Code, 2016 which will be hosted on the website by the end of this month.

Separate mails and SMS will be sent to the students when the material will be uploaded.

Director, Board of Studies

Download CPT June 2017 Admit Card

CPT June 2017 admit cards rolled out, students can download the same from the website:

https://icaiexam.icai.org

Login using your Login ID (i.e. Registration Number) and password.

After login, click on the Admit Card option and download.

More links for reference:

Contact ICAI related to examination queries

No photo/signature on admit card, what to do

CPT June 2017 Examination Date – (Exam on 18 June 2017)

CA Final May 2017 Result Date – Expected

Official CA Final Result Date May 2017 and also ICAI Results Pass Percentage for May 2017 has been provided here. CA Final May 2017 exams have begun on 2nd May 2017. Until last attempt, ICAI used to declare CA Final results on icai.nic.in. However, for May 2017 attempt, the results will be declared on icaiexam.icai.org. To check your CA Final result, you need to enter your Registration Number and 4 Digit PIN or Roll Number.

CA Final Result May 2017 Details:

Result Date 16th July, 2017
Expected Pass Percentage 14.5%
Students Appeared 59,869

CA Final Expected Pass Percentage May 2017

Based on the inputs from Members of the Regional Council, the Pass Percentage of CA Final Exams held in May 2017 will likely be as follows:

Module Pass %
Both Groups 10.44%
Group 1 6.03%
Group 2 13.72%

It is seen that, the pass percentage of CA Final exams held in May 2017 will be significantly higher when compared to all previous Final exams.

CA Final Pass Percentage for First Group is likely going to be high when compared to the previous attempts.

However, CA Final Second Group Pass Percentage is likely going to be higher around this time.

It may be noted that for accessing the CA Final Result for May 2017, at the above website i.e. icaiexam.icai.org, the student shall have to enter his Registration No. or PIN no. alongwith his Roll Number..

The Results of CA Final Exams held in May 2017 will to be declared on 16th July, 2017 at around 12.45 PM.

What to do after the CA Final May 2017 Exams:

Students normally get a 2 month gap between May 2017 exam completion date and the CA Final Result Date. Most CA Final students waste this 2 months time waiting for the results.

During this time, students can complete their GMCS 2 Course from local ICAI Branch Offices.

Alternatively, students can also join a local Chartered Accountant firm and work as a Paid Assistant, which helps in bringing tremendous amount of practical exposure to the student.

IPCC May 2017 Result Date – Expected

Official CA IPCC Result May 2017 and also ICAI Results Pass Percentage for May 2017 has been provided here. CA IPCC May 2017 exams have begun on 3rd May 2017. Until last attempt, ICAI used to declare CA IPCC results on icai.nic.in. However, for May 2017 attempt, the results will be declared on icaiexam.icai.org. To check your IPCC result, you need to enter your Registration Number and 4 Digit PIN or Roll Number.

IPCC Result May 2017 Details:

Result Date 2nd August, 2017
Expected Pass Percentage 16%
Students Appeared 112,000

IPCC Expected Pass Percentage May 2017

Based on the inputs from Members of the Regional Council, the Pass Percentage of CA IPCC Exams held in May 2017 will likely be as follows:

Module Pass %
Both Groups 17.68%
Group 1 16.19%
Group 2 21.47%

It is seen that, the pass percentage of CA IPCC exams held in May 2017 will be significantly higher when compared to all previous IPCC exams.

There has been a common misconception among students that, if the exam paper is easy, then the paper valuation will be tough. It won’t be that way, and students can see tremendous increase in pass out rate this time for CA IPCC.

This increase in pass percentage is due to various suggestions and complaints received from member of the ICAI.

Inside sources say that, qualified Chartered Accountants in Practice are short of Article Students and therefore, there is a sudden demand for IPCC Qualified students.

Keeping this Demand Supply proportion in mind, the pass percentage of CA IPCC students will be high for May 2017 exams held recently.

What to do after the IPCC May 2017 Exams:

Students normally get a 2 month gap between May 2017 exam completion date and the Result Date. Most IPCC students waste this 2 months time waiting for the results.

During this time, students are suggested to join IT Courses like ‘Tally’, which will be later very useful during the Articleship Period. There are also many Tally related free youtube courses for students.

When will CA IPCC May 2017 Centre Wise Results be declared

Generally, the CA IPCC Results for May 2017 will be declared at around 2.00 PM in the afternoon. So, once these results come out, ICAI release the Centre Wise results by late evening, by around 8.00 PM.

When will CA IPCC May 2017 Top 50 Rank List declared

Since last attempt, ICAI has started releasing the list of Top 50 Rank Holders in CA IPCC Exams. So, for May 2017 exams too, the Top 50 Rankers in CA IPCC will be declared a day after the regular exam results are declared.

CA IPCC Question Papers May 2017 – Download

Download CA IPCC Question papers May 2017 Exams.

IPCC Accounts Question paper May 2017
IPCC Laws Question paper May 2017
IPCC Cost FM Question Paper May 2017
IPCC Taxation Question Paper May 2017
IPCC Advanced Accounting Question Paper May 2017
IPCC Auditing Question Paper May 2017
IPCC ITSM Question Paper May 2017

Download Previous attempts Question papers including May 2017: Click Here

CA Final Question Papers May 2017 – Download

CA Final Financial Reporting Question Paper May 2017
CA Final SFM Question Paper May 2017
CA Final Auditing Question Paper May 2017
CA Final Corporate and Allied Laws Question Paper May 2017
CA Final Costing Question Paper May 2017
CA Final ISCA Question Paper May 2017
CA Final Direct Tax Laws Question Paper May 2017
CA Final Indirect Tax Laws Question Paper

Download Previous attempts Question papers including May 2017: Click Here

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