CA Student

If one looks at GST, it does seems like a boon for consumers – with the promise of lower prices; for businesses – with the promise of a simplified indirect tax regime; and for the Indian Government – with the promise of higher tax revenues. However, there is another stakeholder in the business ecosystem who stands to benefit immensely from the introduction and gradual roll out of GST – the Chartered Accountant. Here, I am going to list out the key benefits brought about by GST – that will surely make the life of a CA much easier and simpler, in the coming few months and in the future as well. Increase in clientele GST is a whole new taxation system in comparison to the present indirect taxation which we have. Since its announcement, businesses have been getting nervous and have reached out to the CA community for help – asking about the applicability of GST on their businesses and the registration process – which opened a few months ago for certain assesses who are currently paying ...

Every registered regular tax payer has to furnish GST returns on a monthly basis and pay the tax due by the 20 th  of the month. If a tax payer does not pay the tax due, interest on the tax due will be applicable from the day on which the tax was due to be paid. If a person furnishes a monthly return without paying the tax due, the return furnished will be considered as an Invalid Return. Without furnishing the return for a month and paying the tax due, the subsequent month’s return cannot be furnished. Hence, it is necessary to understand how to pay the tax liabilities under GST in order to avoid the penalties of non-payment of tax. For the purpose of paying tax, every registered dealer will have 3 ledgers in the GST portal: 1. Electronic tax liability register All liabilities of a person towards tax, interest, penalty, late fee or any other amount will be debited here. 2. Electronic cash ledger Every deposit made by a person towards tax, interest, penalty, late fee or any other ...

FOR CPT STUDENTS:- Announcement for the Students of CPT level for July, 2017 Examination Section A: Fundamentals of Accounting The Ministry of Corporate Affairs (MCA) has notified Companies (Accounting Standards) Amendment Rules, 2016 (G.S.R. 364(E) dated 30.03.2016) wherein MCA has omitted AS 6, Depreciation Accounting and replaced AS 10 Accounting for Fixed Assets with newly notified AS 10, Property, Plant and Equipment. Consequently, we have revised the contents of Chapter 5 of Depreciation Accounting in the Study Material of Section A: Fundamentals of Accounting in line with the new Accounting Standard. Therefore, the students of CPT level who have either Nov. 2015 Edition or prior Edition of Fundamentals of Accounting Study Material are required to ignore Chapter 5“Depreciation Accounting” given in that material and are advised to read the updated chapter. The students appearing for June, 2017 examination are advised to refer the revised Chapter 5 on Deprecation Accountin...

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CA IPCC Topper Interview Nov 2016 (Rekha Suthar) Speaking on her success, Ms. Rekha has stated that, following ICAI Study Materials and Practice Manuals have helped here succeed in the CA IPCC Exams. Most important point you should remember while preparing for Taxation is, NEVER READ A BULK OF SYLLABUS IN A SINGLE DAY. Taxation is a tricky subject who should be prepared over a period of time. Don’t finish topics in a single stretch. For that day you may feel like you got that but after a week, everything comes to the starting point. Slow and Steady. How are you feeling right now? It is a surprising moment for me and I am extremely happy for it. How did you hear this news that you are AIR Rank 1 & what was your parent’s reaction? I am not the first one to know that I am the topper. I actually came to know about it through my professor. Who called me and shared this. He was very proud. My mom started crying and my father was shocked when they heard this from me....

Updates and details for How to get Good Marks in IPCC Auditing Nov 2017: The subject of Auditing in IPCC Group 2 is very important to crack the group 2 if you are giving only group 2 exam. So I have given some tips to score well in Audit. Follow our tips to get good marks in IPCC Audit and & go more confidently for the paper 6 Auditing. Remember one simple thing that  ICAI wants the language of study materials  in theory subjects, so to score an exemption in Audit it’s vital to remember module language too. So, choose your reference books accordingly. AUDITING Tips: Golden Tip : In Auditing the  module’s language  is the most important requirement to get good marks. So, read only Study Material and Practice Manuals. And even Practice Manual is enough to get 50~ marks. In auditing  company audit I & II  chapters are very important as they cover around 20 to 30 marks. >Standards on Auditing (SAs) are also important ...

SCHEDULE OF GST RATES FOR SERVICES AS APPROVED BY GST COUNCIL The fitment of rates of services were discussed on 19 May 2017 during the 14th GST Council meeting held at Srinagar, Jammu &  Kashmir. The Council has broadly approved the GST rates for services at Nil, 5%, 12%, 18% and 28% as listed below. The  information is being uploaded immediately after the GST Council’s decision and it will be subject to further vetting during which the  list may undergo some changes. The decisions of the GST Council are being communicated for general information and will be given  effect to through gazette notifications which shall have force of law.  you can download PDF of GST rates from here Click Here for Download!!!  

Section 1- by neeraj arora sir

GST Applicability for CA IPCC CA Final Exam – May 2017 GST Applicability for CA IPCC  CA Final Exams  may 2017 – GST Applicability for CA IPCC and CA Final Exams is a trending question. GST Applicability for CA IPCC CA Final Exam Course Syllabus for May 2017 ICAI Exams.GST Bill has been passed very recently by the Rajya Sabha and CA Students are in confusion whether GST will be applicable for CA IPCC May 2017 and CA Final May 2017 exams. Also, we get queries regarding, From which attempt GST will be applicable for CA Students. In this article, we would like to clarify all these queries regarding the Expected Applicability of GST for CA Exams based on our own assumptions. GST Applicability for CA IPCC CA Final Exam Goods and Service Tax Act Applicability in CA Exams Final IPCC.GST stand for Goods and Service Tax. GST is taken as the greatest Tax reform in India.The Government of India is going to made effective the GST from 1st April 2017. So what will be the ...

CA IPCC Topper Interview Nov 2016 (Rekha Suthar) Speaking on her success, Ms. Rekha has stated that, following ICAI Study Materials and Practice Manuals have helped here succeed in the CA IPCC Exams. Most important point you should remember while preparing for Taxation is, NEVER READ A BULK OF SYLLABUS IN A SINGLE DAY. Taxation is a tricky subject who should be prepared over a period of time. Don’t finish topics in a single stretch. For that day you may feel like you got that but after a week, everything comes to the starting point. Slow and Steady. How are you feeling right now? It is a surprising moment for me and I am extremely happy for it. How did you hear this news that you are AIR Rank 1 & what was your parent’s reaction? I am not the first one to know that I am the topper. I actually came to know about it through my professor. Who called me and shared this. He was very proud. My mom started crying and my father was shocked when they heard this from me....

Ways to Boost learning power of a CA Student in Examination A well‐known fact is if you have strong memory so it depends on health and liveliness of  your brain. When you are a student and preparing for any competitive exam/ professional courses like CA so  mentally sharpness is necessary for improving the performance and achieve success . How to improve learning power? Memory is similar to the  muscular strength which requires more energy and more exercise . If your brain workout regularly so it can able to do anything as per your needs and demands.  But as you know,  each organ requires different exercise for boosting . Therefore, you have to break your daily routine and take a challenge to use and  develop new and innovative brain ways . 1. Give time to your brain for workout For boosting the brain, there are some major elements that will effectively work – Most of the people do such kind of activities which are easy or they know very ...