GST Course by CA Learning

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GST will become operational at the stroke of midnight on 30th June 2017. This will be the first incident when after midnight independence of India, such a moment will come in the history of India. One point tax will streamline economy in long run. Transparency in transactions, hitting black money and the parallel economy will make India a proud nation. Initial phase will be learning phase but it will settle fast. The government will cancel GST registration to such companies who will not pass benefits to the consumer.

 

GST will hit on the corruption. The penalties are very stringent. Peak tax rate can be at 40% if required. On a long run, this will be a boon to the Indian economy. Procedural part is being implemented. It will roll on 1st July 2017 in the entire the country.

CA learning is bringing the latest knowledge pack which will help the students and professional on the key features of the GST Act. It will help them in their professional endeavor.

Are you ready for GST (Goods and Services Tax)?

Has your company, partnerships migrated to GST?

GST is one point taxation which starts on 1st July 2017. Small or Big businesses, traders, CA, CS, CMA, lawyers all need to know it. CA Learning has made 21 hours GST Course for Professionals, Students and Academicians.

In This Course, You’ll find:
• INTRODUCTION TO GST
• GST LAWS
• LEVY UNDER GST
• PLACE AN TIME OF SUPPLY
• VALUATION, COMPOSITION SCHEME
• INPUT TAX CREDIT
• REGISTRATION
• PAYMENT UNDER GST

 

Course Cost – CA Learning offers this course at affordable price 2999/- all inclusive.

Fill Your Query here

To know more about this product, you can call us on +919560867090 or Visit our website – www.calearning.in

Revised Scheme of Education and Training for CA Course

revised scheme of education and training for ca course

The FAQ’s and Implementation Schedule has been released by the Institute of Chartered Accountants of India (ICAI) with respect to the Revised Scheme of Education and Training for the Chartered Accountancy Course, effective 1st July 2017. This Scheme has been formulated by the Institute parallel with International Education Standards issued by International Federation of Accountants (IFAC) after considering the inputs from various Stakeholders.

The Scheme of the new Course has been recently released by the ICAI and has provided FAQ’s to answer the queries, if any, which may arise in the mind of the Stakeholders with respect to the Revised Scheme, these FAQ’s which have been framed are available at the Official website of the Institute.

Further, the Implementation Schedule has also been published, depicting the information regarding the last date of registration under the Existing Scheme, date of commencement of registration under Revised Scheme, last exam at all levels under Existing Scheme and the number of parallel attempts of examinations at all levels under both Exiting and Revised Scheme.

 

 

 

 

Latest Announcement by ICAI on applicability of GST for Nov 17 exams

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Although ICAI has already clarified that GST will be applicable from May 18 exams onwards, Today via webcast on GST, CA Atul Kumar Gupta, Chairman, Board of Studies specified that GST will be asked in Nov 17 exams only for CA FINAL Exams for Nov 17 for 10 marks only same will be notified by ICAI on its website in a day or two. (only sec 7, 8, 9 of C-GST Law + Some definitions will become applicable for Nov 17 exams)
Further, on the new structure of CA Course, he specified that New syllabus will take effect from 1st July probably.
Students already undergoing old course will be provided ample opportunity to continue with their old syllabus only.
So students need not be worried about it, He said, soon they will provide all details on this for ease of students.

Opportunities for Young Chartered Accountants in Civil Services

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The Civil Services originated in India after the expansion of the East India Company’s operations in India. The objective was to provide a strong administrative structure, further the practices followed by citizens were very different; the role of the collector was to collect land revenue and slowly as the Raj expanded and the functions of East India Company expanded, they kept on adding the roles of the collector.

Thereafter the Country sought of these services to be applied pan India and to add a large no of functions the government exercised more than just generating revenues like the administration, safety to be ensured, enforcement of law and order, etc.

As a Civil Servant, you have an opportunity to serve a no. of times more than the rest who think why we cannot change the decisions of the government. Hence, these services give you an opportunity. You learn about the government, how it works, understand the policy, look at the grievances and pains and do something for their upliftment.

You also learn about Government Accounts and procedure of expenditure of the government; what all revenues are raised by the government are to be deposited in the respective funds. Only a Body can be utilize those fund, which will be passed/authorized by the Parliament. Accounts to certain Principals to be spent on authorized grounds in the interest of public. The CAG checks and prepares the report. How Railways are operated and how the accounts for railways are managed. How Civil wing for defense services are managed. Indian police service are working all across the country to ensure normal peace and to ensure public order is maintained. The officers of Income Tax or Customs in collection of taxes. When you are a member of these services you can do all these kind of assessments. There are certain services which handles the relations with different countries of sensitive nature including countries like Pakistan and other neighbors and which help us in bringing more foreign direct investment leading India to grow at a better rate.

 

The Civil Examination is a three-stage examination; first is the Preliminary, second is the Mains and the third is the Interview. Union Public Service Commission (UPSC) conducts the exam. Any graduate above the age of 21 can appear for the exam. Around 3.5 – 4 lakh students appear for the Preliminary, out of them 3 – 4 % students i.e. 10 – 12 K appear for the Mains out of them 2,500 – 3,000 students appear for the Interview and out of these 2,500 – 3,000 students the last merit list of about 1,000 students is prepared. There are 20 – 25 services. All India services include services like IAS and IPS. Group A services include IRS, Indian Accounts, Postal Services, Railway Services and there are some Group B services as well. The duration of the entire stages of the exam is one year. The preliminary is in June, the Mains in October and Interviews in April/May. If a candidate is preparing for the Civil Services Exam, he should start 10 – 12 months prior to the Preliminary Exam. There are four attempts for the General Category; for Reserved Category there are more no. of attempts. There has been a relaxation in the age limit from 30 to 32 for General Category and up to 35 for Reserved Category. In Preliminary exam CSAT, there is one General Studies paper and one Aptitude paper, which is common for all aspirants. Once you clear the preliminary, there are four papers in Mains, which are again uniform across the board. Then you have to select one optional paper out of two; for Chartered Accountants, it can be Commercial Accounts. Apart from that, you need to qualify two language papers; for normal students, the language papers are English and Hindi and for the rest English is compulsory and except Hindi, you can choose any other language. Then there is one Essay paper, General Studies and one optional paper. The Interview is for about 275 marks. After this, the final merit list is prepared. The top preferences in the exam are the IAS and the IPS. This is the usual trend adopted by the aspirants. The interviews are conducted in the main building of UPSC of the respective state.

It has been seen that the students consider this examination as a very tough examination. Out of these 3 – 4 lakh students, only 80 K to 1 lakh students are serious and will be appearing in the exam. Out of these 1-lakh students, 10 to 15 K students pass the exam that makes around 10 to 15% success rate in the Preliminary, which is much better than the CA Final result. Statistically, it is not that tough. As far as the course curriculum is concerned CA’s are expert in Finance and Accounts they have an idea about the economic scenario of the Country. In the Preliminary, you have an Aptitude paper, which is Data Interpretation and Logical Reasoning, which is quite easy for a CA, so one of the paper is taken care of in the initial stage. In GS you have 4 papers out of which one is Economics, one deals with the Quality Governance and the Legal Structure that governs the Country. As CA’s, we read a lot of law and we have an aptitude to read the law so that paper is also taken care of. So you have an initial advantage in two papers. One paper has to be selected out of two; we have Commerce and Accountancy so that paper is also manageable. As a CA, we score the max. as we have a grip over this exam.

The fear factor is GS. NCERT is easy to read and initially gets you to the GS portion to have an overall background. Should update yourself with the Current Events happening around by in-depth reading of the newspapers like the Hindu and the Indian Express.

As a Civil Servant, you are dealing with the lives of the citizens of India and for that, you need to understand the history of the County and finally what is happening in their daily lives. Should also read an economic survey of India, it also explains a large no. of government schemes and what are its logical aspects. A basic idea of economy. You have to plan out a large amount of syllabus.

There are two structures State and Central. We start as a trainee in the state. There is a 3 month course from Lal Bhadur Shantri Academy. There is another capsule after 2 months of ground surfing around the country to understand its geography, the way people live, the culture they practice. Then you are staying for about a year in a district. On your come back to the academy, you share your experience and then you placed to the area as a Sub Magistrate. He (Sub Magistrate) has a small part under his jurisdiction, is supposed to co-ordinate, and ensure law & order. This is how he actually starts. For a year or two he works as a Sub-Divisional Magistrate called the Sub-Collector and he graduates to becoming a CEO of a Zilla Parishad or is some states its also called as the Chief Government Officer. Once he has handled the Revenue & Land Reforms and Law & Order is handled to the final aspect of development that includes laying down of roads, canals, providing houses to the poor, scholarships to students, women support old age support and then finally you become a Collector and handle the aspects of administration.  From Under Secretary, you become Secretary. You can take implementation decisions. You become a Principal Secretary assisting the concerned Minister. You are actually coordinating like a Magistrate after 9 years of service. After completing 14 years of service you become a Director. Finally after 17 years, you are empaneled to take decisions like what will be the policy. Basically you are molding the country’s policy. After that you can become additional secretary.

The IPS officers start as Sub Divisional Police Officer. After 1 – 2 years, you graduate as SP of different Departments. After 4 – 6 years, you graduate to become DIG then IG (Secretary IAS) then they graduate to become ATG. After ATG there are DGP’s amongst them in to handle the police infrastructure. DGP police. This is the general setup of IPS.

CA Coaching is not compulsory but helps for giving the exams. There are no exemptions in these papers as in the case of CA exams. There is low remuneration in the start; there a few benefits available like a house (Government Quarter), HRA, DA. Still at the end doing something positive for the country for which, a civil servant works where a new CA can contribute, as these services are the Backbone of administration of the Country would lead to a sense of satisfaction, which an enlightened citizen of the country would definitely dream of.

GST ACT: GAME CHANGER FOR INDIA

gst | game changer for india

Goods and Services Tax popularly known as GST Act has finally got the Presidential Assent. Now after several years of deliberation between centre and states, there is a consensus and a uniform law has been evolved where both centre and state will participate.

The aim of GST is to create a single point taxation. Instead of lots of indirect taxes at different stages, there will be a single point of taxation. The administrative cost to collect, control and monitor the taxes will be substantially reduced.

GST will hit on the corruption. The penalties are very stringent. Peak tax rate can be at 40% if required. On a long run, this will be a boon to the Indian economy. Procedural part is being implemented. It will roll on 1st July 2017 in the entire the country.

CA learning is bringing the latest knowledge pack which will help the students and professional on the key features of the GST Act. It will help them in their professional endeavor.

To know more about GST and if you have any query then please fill this form

Kindly visit our website http://www.calearning.in, Contact us @ 011-4278 7090, +91 9560 86 7090

SIX QUESTIONS TO ASK YOURSELF TO EXCEL IN CA EXAM

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Every person whether a student or a professional should try to improve himself /herself on a continuous basis. He/ She should constantly work and explore the inner capabilities on a regular basis. This will help him to pass CA Final examination successfully.

The first question which he should always ask himself what are the three things, I want to achieve and why they are important to me in the order of importance. In fact, on a free day one should jot down these questions and their answers with clarity on a piece of paper at a calm place. This is an exercise where one must be honest with himself. He must think why success in CA is useful for him as a person and as a professional.

Secondly, the concerned person must identify the first, small steps required to achieve same in a systematic and consistent manner. This means atomic level clarity is required in terms of planning and action. It can be related to the way in which preparation for CA exam will be done. A student has to be very proactive in the approach towards clearing the examination.

Thirdly, in order to grow and be successful, he must be an avid learner. He must be innovative and think out of box approach. Perhaps, he must learn from peers, seniors and various learning authorities. As CA is a vocational course, he must read relevant course materials and practice them.

Fourthly, he must practice and practice as many as sample papers in each subject whether a theory subject and a practical subject possible under exam like simulated conditions. The only key in passing CA Final exam is proper time management and skillful writing.

Fifthly, he must always be a positive person who must have an ability to work consistently on a regular basis. He must never postpone things including official works and practice to the exam.

Sixthly, he must always be willing to sharpen his knowledge on the updates in the professional field in the academic part of knowledge. He should have a cheerful personality. He must try to solve the business problem of the clients on a regular basis.

This blog is contributed by CA Learning’s Faculty CA Vikas Kumar (Advanced Management Accounting)

CA Final Sunday test from 2017

Dear Students,

The Board of Studies has decided to introduce week-end Test Paper Scheme for students eligible to appear in the examination for the first time from November 2017 onwards. Those candidates are required to pass two Test Papers in each group conducted by the BoS to be eligible to appear for the Final Examination of the ICAI. It is intended to promote regular studies and improve performance in the Examination of ICAI.