What Will Be the Syllabus for CA IPCC in May 2018 for Old Students?
That Will Be the Syllabus and Notifications Updated Till 31st October 2017
As of the updates released on 31st October 2017, the syllabus for the Chartered Accountants (CA) Intermediate Planned Course (IPPC) for May 2018 for old students remains largely unchanged. One of the significant modifications is the introduction of Goods and Services Tax (GST) as a new topic, replacing Indirect Tax.
Syllabus for CA IPPC in May 2018
The syllabus for the May 2018 IPPC Exam for those students who had failed in November 2017 and registered before 1st July 2017 is the same with the following amendments:
Direct Tax and GST (50 marks): GST has been introduced as a special paper of 50 marks in Tax Paper IV. This applies to all students, including old students. No changes in other subjects: Apart from the aforementioned changes in Direct Tax and GST, the rest of the syllabus remains consistent.Key Updates for Old IPCC Students
For old IPCC students, the main changes involve the introduction of GST. The GST paper will be conducted as a special paper of 50 marks in Tax Paper IV, similar to the Indirect Tax Paper that was once administered as Itsm.
Other Syllabus Updates
General Clarifications: Here are some important clarifications applicable for the May 2018 exams:
NPO Chapter in Accounts: For old students, the chapter on Non-Profit Organizations (NPO) is still applicable in the syllabus. Auditing: Auditing has seen some minor amendments, but no significant changes that need immediate attention. House Property Loss: Loss from house property can be set off against any other head. However, the maximum amount that can be set off has been capped at Rs. 2 Lakhs. Direct Tax Study Material: Old syllabus students are advised to refer the Direct Tax part from the study material issued for new syllabus students. No longer will they need to refer to the Practice Manual for this part. New Indian Accounting Standards (IndAS): New Indian Accounting Standards (IndAS) will not be applicable to old and new syllabus students. Only existing Accounting Standards (AS) should be studied. STRESS ON GST: GST is a theory-based subject. Given that the question bank is not yet available, it is crucial to remember the provisions well and not ignore the illustrations in the study material.Final Notes and Resources
FinApp Resources: Additional detailed amendments and new changes will be provided by FinApp in the coming days. Old syllabus students should refer to their provided study materials and stay updated through FinApp Connect.
FinApp Connect: Visit the FinApp Connect Android App for regular updates and guidance.
For CA IPCC May 2018 preparation, staying updated with these changes and utilizing all available resources is essential. Best of luck to all students!