Ca ipcc tax syllabus change

Change the way you think !!!

This post is related to change in syllabus of IPCC Taxation. This can change your view regarding the change. Change is an opportunity not a threat

As you know ICAI has just revised the syllabus of Paper 4 - Taxation of IPCC, Let us understand the reasons for revision but first note the changes.

Old syllabus -
Income tax - 50 Marks
Indirect tax - Service tax & VAT - 50 Marks

New syllabus -
Income tax - 50 Marks
Indirect tax - Excise, Customs, CST, Service tax and VAT - 50 Marks
(Service tax portion is also increased apart from the insertion of new topics)

Let us now understand the reason and opportunity for us being a CA student
Opportunity 1. Earlier CST was not in syllabus of IPCC as well as Final. So you are expected to gain the knowledge of CST in IPCC only as you will not read this portion in final.
Opportunity 2. VAT was in syllabus of final and IPCC also. But now VAT has been removed from the syllabus of final so there is a golden opportunity to gain the knowledge of VAT in IPCC itself.
Opportunity 3. Excise and Customs was in syllabus of final and still a part of final syllabus. There are 2 reasons to introduce excise and customs in author's opinion -
(a) It will help you in artcileship as artcileship starts immediately after qualifying the 1st group of IPCC so students will now be familiar with these taxes also.
(b) The 2nd and main reason is GST (Goods and service tax). Suppose in future if these laws are abolished to introduce GST, you will not be able to read these laws then. Hence it is the time to gain the best knowledge of it so you can understand the future changes in taxation field as well.

Happy reading
Regards -
Tarun Rustagi