CA Student
15932 Points
Joined May 2011
An exemption is valid for three immediate succeeding exams and will be carried forward automatically for the next three examinations.
The exemption obtained by you in May-17 exam would last only for the next three exams, i.e. for Nov-17, May-18 and Nov-18 exam, irrespective of the fact whether you appear in these exams or not.
https://resource.cdn.icai.org/24309announ14197.pdf