How to plan study for ipcc idt???

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Querist : Anonymous

Querist : Anonymous (Querist)

25 September 2015 Helloo,
I need your help...
How to plan study for ipcc idt for nov 2015 exam. Which book to refer & how to start studying??? If any notes are available please provide those notes also..
Please guide me through this...

Querist : Anonymous

Querist : Anonymous (Querist)

25 September 2015 Please help at earliest..

Asha Kanta Sharma online

Asha Kanta Sharma online

(Expert)
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28 July 2024 Studying for the **Indirect Tax Laws (IDT)** paper in the IPCC (now CA Intermediate) exams requires a structured approach due to its complexity and the vastness of the syllabus. Here's a detailed plan to help you effectively prepare for IDT, including recommended resources and study strategies:

### **1. Understand the Syllabus**

- **GST (Goods and Services Tax)**: The major part of the syllabus, covering CGST, SGST, UTGST, and IGST.
- **Customs Law**: Basics of customs procedures and valuation.
- **Excise Law**: Although its application has been largely replaced by GST, some knowledge may still be relevant.
- **VAT/Sales Tax**: For regions where it still applies.

### **2. Create a Study Plan**

**Weeks 1-2: Introduction and Basics**
- **Read the Basic Concepts**: Start with the fundamentals of GST, Customs Law, and Excise Law.
- **Refer to ICAI Study Material**: Begin with ICAI's study material and notes.
- **Book Recommendation**: Use the latest edition of books by authors like **CA Ravi Kant** or **CA M. P. Vijay Kumar**. These are well-regarded for CA exams.

**Weeks 3-4: Detailed Study of GST**
- **Deep Dive into GST**: Study the CGST, SGST, and IGST laws in detail. Understand the rules, definitions, and exemptions.
- **Practice Problems**: Work on problems related to GST calculations, input tax credit, and GST returns.
- **Revision Notes**: Create summary notes for GST rules, important sections, and case studies.

**Weeks 5-6: Study Customs and Excise Laws**
- **Customs Law**: Focus on the basics of import and export procedures, valuation, and compliance.
- **Excise Law**: Understand the principles, although the focus has shifted largely to GST.
- **Practice Questions**: Solve questions and past papers related to Customs and Excise.

**Weeks 7-8: VAT/Sales Tax and Revision**
- **VAT/Sales Tax**: Study if applicable to your region or if it’s part of the syllabus.
- **Revise**: Go over your summary notes, solve past exam papers, and focus on weak areas.

**Weeks 9-10: Mock Tests and Final Revision**
- **Attempt Mock Tests**: Practice full-length mock tests under exam conditions.
- **Review Mistakes**: Analyze your mistakes in mock tests and revisit those topics.
- **Final Revision**: Go through all notes, important sections, and key points.

### **3. Recommended Books**

- **"Indirect Taxes (IDT)" by CA Ravi Kant**
- **"Indirect Taxes" by CA M. P. Vijay Kumar**
- **ICAI Study Material**: Always refer to the latest ICAI study material and practice manual for the most accurate and exam-relevant content.

### **4. Study Resources and Notes**

- **ICAI Materials**: Utilize ICAI's study materials, practice manuals, and suggested answers.
- **Online Resources**: Websites like **Unacademy** and **ClearTax** offer valuable insights and video lectures on IDT.
- **CA Forums**: Join forums and study groups to discuss and resolve doubts.

### **5. Tips for Effective Study**

1. **Understand the Concepts**: Don’t just memorize; understand the principles behind GST, Customs, and Excise laws.
2. **Solve Practical Problems**: The application of laws in problems is crucial for exam success.
3. **Regular Revisions**: Revisit important sections regularly to reinforce your understanding.
4. **Stay Updated**: Indirect tax laws are subject to frequent changes. Make sure you are studying the most recent amendments.
5. **Use Summary Notes**: Create and use summary notes for quick revision before exams.

### **6. Sample Notes and Study Material**

- **ICAI Study Material**: Download from the official ICAI website.
- **Reference Books**: Look for summary notes and question banks in books by popular authors.
- **Online Resources**: Websites like **CA Club India** often have useful notes and discussions.

### **Additional Resources**

- **ICAI's Official Website**: For updates and the latest study material.
- **YouTube Channels**: Look for CA educators who provide free lectures on IDT.
- **Previous Exam Papers**: Practice with past papers and suggested answers.

By following this structured approach and utilizing the recommended resources, you can effectively prepare for the IPCC IDT exam. Good luck with your studies!

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