Self help group for idt

pratik jain (practicing chartered accountant)   (828 Points)

27 January 2013  

HI FREINDS ! 

I have passesd CA final exams last year but now i am preparing for other professional exams along with my own practice . Indirect taxes happen to be one of the subjects in my curriculum. While preparing for Ca exams i did not find IDT interesting because i could not undersatnd lot of things(written in BANGAR SIR`S BOOK) and people around me (FELLOW STUDENTS ) could not clear my doubts. As a result i realized most people dont understand the subjects properly(still dont admitt it !) but still manage to pass (including me!!) by covering recent case laws and amendments(ppl mug up even without understanding). 

i also followed the same strategy and bingo!! i got 68 marrks in IDT. But now when i picked up the subject (and studied without any pressure of clearing 8 papers)  i realized lot of things have changed ( i mean amendments) and i dont even know the basics properly. 

For last 15 days every night i have spent a few hours researching on various topics from net and several refernce books. I found it funny that even so called experts on ONLINE FORUMS provided  confusing answers(in case u get reply), board of studies of ICAI has not answered yet and books like BANGAR donot have examples to illustrate simple concepts like interest on late payment of excise duty (SEC 11 AA) .

I do not want to criticize anybody .  Nor do i intend to become an expert in IDT. I just wana understand at least the basics of provisons given in book with examples (like VG sir`s module ). So that i can enter the practical world with some confidence and donot have to mug  up most of things . I am sure passing the exams also becomes easier when you know the concepts and practical aspects rather than the law itself  ,because learning becomes fun!

So i request all CA Final students to Post their Queries/ Replies here regarding IDT .Those who are taking tutions may forward the queries to respective tutors and clear the same for others (ya ! i am expecting a lot from others!!).

For those who think this idea is crap ! plz donot reply.

If you agree with me do reply! 

I will start posting my doubts(with probable solutions) in my later posts.These may be doubts of other student`s as well.

So let us come together and help each other!

bye 4 now!