The syllabi of Part II: Service Tax and VAT of Paper 4: Taxation and Paper 7A: Information Technology of Intermediate (IPC) Course have been revised in terms of the decision of the Council taken at its 324 th meeting held in March, 2013.

The detailed announcement in this regard has been hosted at the Institute’s website at . It may be noted that the examinations of the aforesaid papers in accordance with the revised syllabi will be held from November , 2014 onwards in respect of all the candidates.

It is clarified that the revised syllabi of the aforesaid papers will not be applicable in November , 2013 and May , 2014 examinations and students will be examined only on the basis of the existing syllabi in these examinations .

The syllabus of Part – II of Paper 4: Taxation has been revised to increase the scope of its coverage in line with the growing significance of indirect taxes. For instance, basic concepts of significant indirect taxes viz.,  excise duty, customs duty and central sales tax have been introduced in the syllabus, in addition to service tax and VAT.

The syllabus of  Paper 7A: Information Technology has been revised to include IT concepts, which are not only current but also practical and relevant to the CA students at Intermediate (IPC) level along with the ir proper linkages with other subjects such as accounting, auditing etc. Highlights of the significant changes made in the syllabus

A. Part – II of Paper 4: Taxation

(i) Part – II of the paper has been rechristened as “Indirect Taxes” as the objective of the revised syllabus is to develop an understanding of the  basic concepts of the different types of indirect taxes and to acquire the ability to analyze the significant provisions of service tax as against the existing coverage which is limited to service tax and VAT.

(ii) Basic concepts relating to levy , taxable event etc. of excise duty, customs duty and central sales tax have been included in the syllabus.

(iii) Following new topics have been added in service tax:

(a) Exemption and abatements

(b) Invoicing for taxable services

(c) Registration

(iv) CENVAT Credit [Rule 1-9 of CENVAT Credit Rules, 2004] provisions have also been in cluded in the syllabus.

B. Paper 7A: Information Technology

Following new major topics have been added in the syllabus:

(i) Business Process Management and IT highlighting Introduction to various Business processes, Business Process Automation – Benefits and Risks, Approaches for mapping, Impact of IT on Business processes, Business Risks of failure of IT and Business Process Re-Engineering etc., and

(ii) Business Process Automation through Application Software highlighting Overview of Business Applications, Relevant controls and Information Systems, Information Processing, Emerging concepts like virtualization etc.

The Study Materials prepared in accordance with the revised syllabi will be hosted on the Institute’s website in the first week of November , 2013. The same will also be made  available at the sale counters of the regions and branches in due course of time.

Source- ICAI

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