IPCC taxation paper bifurcated in two sections from May 2019 Exams

IPCC tax paper bifurcated in 2 areas from May 2019 Exams. Latest announcement by ICAI for IPCC tax Paper appropriate for May 2019 exams. Bifurcation of Paper 4- Tax of Intermediate (IPC) Evaluation into 2 sections.– (31-05-2017). IPCC Paper is now divided in 2 areas i.e in Direct Tax & Indirect Tax … Now check more details from below …

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IPCC taxation paper bifurcated in two areas from May 2019 Test

Section A: Income-tax

Applicability of the Finance Act

Evaluation Year etc. for May, 2019 evaluation The arrangements of income-tax law, as changed by the Finance Act, 2018 consisting of substantial circulars and alerts issued upto 31 st October, 2018, apply for May, 2019 examination. The relevant assessment year for income-tax is A.Y. 2019-20

List of topic-wise exemptions from the syllabus

Area B: Indirect Taxes

Applicability of the provisions of GST law for May, 2019 Evaluation

The provisions of CGST Act, 2017 and IGST Act, 2017, consisting of substantial circulars and alerts issued upto 31 st October, 2018, are applicable for May, 2019 examination.

Rates defined for calculating the amount payable under structure levy are included in the curriculum.

Notes: (1) Only the following sections of the Central Product and Services Tax (Change) Act, 2018, which have actually ended up being retrospectively effective from 1st July, 2017, are applicable for May, 2019 examination:

  • ( i) Area 3 of the CGST Amendment Act, 2018 modifying area 7 of the CGST Act, 2017, and
  • ( ii) Section 31 of the CGST Amendment Act, 2018 amending Set up II to the CGST Act, 2017.

It may be kept in mind that all the remaining arrangements of the CGST Change Act, 2018 have not been made effective till 31.2018 and hence, are not applicable for May, 2019 examination.

( 2) The curriculum consists of choose arrangements of the CGST Act, 2017 and IGST Act, 2017 and not the entire CGST Act, 2017 and the IGST Act,2017 The provisions covered in any topic( s) of the syllabus which are related to or correspond to the topics not covered in the curriculum shall also be excluded.

( 3) In the above table, in regard of the topics of the curriculum specified in column (2) the related exemption is provided in column (3 ).

( 4) September, 2018 edition of the Study Product is pertinent for May, 2019 and November, 2019 examinations. The changes– made after the issuance of this Research study Material– to the degree covered in the Statutory Updates for May, 2019 evaluation alone will be appropriate for the said examination.

( 5) The arrangements of CGST Act, 2017 and the guidelines provided thereunder and IGST Act, 2017 and the guidelines issued thereunder, to the degree included in the September, 2018 edition of the Study Material, except the exclusions mentioned in the table above, and the Statutory Updates for May, 2019 examination will alone matter for the stated evaluation.

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