Icai going against rules... lets protest

Sanyam Sultania (BCom, CA) (127 Points)

26 September 2012  

My Dear Student Friends and Members,

 

I would like to bring to your notice 1 very important fault of ICAI. I am in continuous touch with ICAI on resolving it for the benefit of both IPCC & Final Students.

 

If any of you have read the RTP of November 2012(Both IPCC & FINAL), then you will see that in Service Tax (Group 1 in IPCC & Group 2 in Final), there are some major changes in Point Of Taxation Rules 2011. These changes have come into notification on 17/03/2012 effective from 01/04/2012. Similarly, the rates of service tax were also changed on 17/03/2012 effective from 01/04/2012.

 

As per the RTP both these amendments are applicable for the November 2012 examinations. I even confirmed this fact by asking in the e-sahayaata portal. I was given the answer that, point of taxation is applicable & the rates of tax are to be selected as per the dates given in the question.

 

But in all this there is one thing to be noted that, ICAI has a rule that any amendment coming 9 months before the exam is only applicable. So therefore technically, for the november attempt any amendment before february should not be applicable. But in this case, ICAI is breaking this rule.

 

This issue becomes particularly important for 2 reasons:

1) The changes in point of taxation are huge, almost changing the entire scheme.

2) After removal of the services this becomes a very good area for questions and to twist the students in both the exams.

 

I hope you people spread this message so that , icai can realise its mistake and correct itself. I've already replied in e-sahayaata, but still didn't get any reply.

 

Regards

Sanyam Sultania