CA Final Amendments for Nov 2023 Exams

Download CA Final amendments, updated notes, study material, topic included and excluded, Ind AS, and guidance notes announced by ICAI for Nov 2023 exam.

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CA Final Amendments for Nov 2023 examinations has been released by ICAI vide notification dated 10th July, 2023. CA Final updates for Nov 2023 exams to be held under old syllabus. From May 2024 new syllabus exams will be conducted by ICAI.

In this article you will find CA Final amendments applicable for November 2023 examinations for all subjects including accounting, auditing, taxation, information technology, law and costing etc.

The Institute of Chartered Accountants of India (ICAI) conducts the Chartered Accountancy (CA) examinations of Final Course twice i.e. May and November every year.

CA Institute announce the approved list of applicability of Accounting Standards, Guidance Notes and Legislative Amendments etc. for each term of CA Final Exams well in advance before commencement of exams.

You must go through the latest CA Final amendments and CA Final updates happened at least 6 months prior to the commencement of your CA Final Course examination. Accordingly, you may download the following resources provided by CA Institute on official website ICAI.org under Board of Studies (BoS) Knowledge Portal:

  1. Study Materials (latest edition)
  2. Additional Reading material
  3. Supplementary Study Materials
  4. CA Final Practice Manual
  5. Compilation of Suggested Answers
  6. CA Final RTP (Revision Test Papers); and
  7. Download MTP (Mock Test Papers) with solutions

CA Final Exam Time Table Nov 2023 | Old and New Course

You may also buy hard copy of the same from CA Institute’s nearest branch office sales counter.

Accordingly, following are the relevant Accounting Standards (ASs), Standards on Auditing (SAs), Guidance Notes (GNs), Circulars, Notifications, Companies Act and Finance Act etc. which are very important for CA Final November 2023 examinations.

Download the following ICAI Announcement relevant for CA Final Nov 2023 examination:

  • Applicability of Standards/Guidance Notes/Legislative Amendments etc. for November, 2023 Examination Study Guidelines for November, 2023 Examinations Final New Course [Download].
  • Applicable Study Material for November, 2023 Exams – New Scheme Final Course [Download].

Paper-1: FR (Financial Reporting):

Download FR Study Material October 2021 Edition that is applicable for Nov 2023. You should go through accounting RTP Nov 2023 for CA Final amendments.

Indian Accounting Standards: The Companies (Indian Accounting Standards) Amendment Rules, 2019 notified by MCA on 30.3.2019 wherein it has notified Ind AS 116 (by replacing Ind AS 17). Thus, Ind AS 116 and other amendments notified by MCA on 30.3.2019 is applicable for November, 2023 examination.

The relevant Amendments / Notifications / Circulars / Rules issued by the Companies Act, 2013 up to 30th April, 2023 will be applicable for November, 2023 Examination. Accordingly, amendments issued by MCA and notified by the Central Government

  • on 30th March, 2022 wrt the Companies (Indian Accounting Standards) Rules, 2015,
  • on 20th September, 2022 wrt Amendments in the Companies (Corporate Social Responsibility) Rules, 2014; and
  • on 31st March, 2023 in the Companies (Indian Accounting Standards) Rules, 2015
    are applicable for November, 2023 Examination

Following topics are excluded for CA Final Nov 2023 exams:

  1. Indian Accounting Standard (Ind AS) 37 ‘Provisions, Contingent Liabilities and Contingent Assets’
    • Appendix A: Rights to Interests arising from Decommissioning, Restoration and Environmental Rehabilitation Funds
    • Appendix B: Liabilities arising from Participating in a Specific Market — Waste Electrical and Electronic Equipment
  2. Indian Accounting Standard (Ind AS) 29 : Financial Reporting in Hyper inflationary Economies.
  3. Indian Accounting Standard (Ind AS) 104 : Insurance Contracts
  4. Indian Accounting Standard (Ind AS) 106 : Exploration for and Evaluation of Mineral Resources.
  5. Indian Accounting Standard (Ind AS) 114 : Regulatory Deferral Accounts
  6. Analysis of financial statements based on Accounting Standards.

Paper-2: SFM (Strategic Financial Management)

Download SFM Study Material 2022 Edition and CA Final SFM RTP Nov 2023.

Important Topics in RTP: CA Final SFM RTP Nov 2023 covers questions from almost entire syllabus. Important topics are Security Valuation, Portfolio, Mutual Fund, Derivatives, Foreign Exchange, International Financial Management, IRR, Corporate Valuation, Mergers, Acquisitions and Corporate Restructuring.

Paper-3: AAPE (Advanced Auditing and Professional Ethics)

Download AA and PE 2022 edition of Study Material for Nov 2023 examination. CA Final auditing RTP for Nov 2023 is also useful.

Statement on Reporting under Section 227(1A) of the Companies Act, 1956 (Section 143(1) of the Companies Act, 2013).

List of applicable Engagements and Quality Control Standards on Auditing:

  1. Quality Control for Firms that Perform Audits and Reviews of Historical Financial Information, and Other Assurance and Related Services Engagements [SQC 1]
  2. Overall Objectives of the Independent Auditor and the Conduct of an Audit in Accordance with Standards on Auditing [SA 200]
  3. Agreeing the Terms of Audit Engagements [SA 210]
  4. Quality Control for Audit of Financial Statements [SA 220]
  5. Audit Documentation [SA 230]
  6. The Auditor’s responsibilities Relating to Fraud in an Audit of Financial Statements [SA 240]
  7. Consideration of Laws and Regulations in An Audit of Financial Statements [SA 250]
  8. Communication with Those Charged with Governance (Revised) [SA 260]
  9. Communicating Deficiencies in Internal Control to Those Charged with Governance and Management [SA 265]
  10. Joint Audit of Financial Statements (Revised) [SA 299]
  11. Planning an Audit of Financial Statements [SA 300]
  12. Identifying and Assessing the Risks of Material Misstatement through Understanding the Entity and its Environment [SA 315]
  13. Materiality in Planning and Performing an Audit [SA 320]
  14. The Auditor’s Responses to Assessed Risks [SA 330]
  15. Audit Considerations Relating to an Entity Using a Service Organization [SA 402]
  16. Evaluation of Misstatements Identified during the Audits [SA 450]
  17. Audit Evidence [SA 500]
  18. Audit Evidence – Specific Considerations for Selected Items [SA 501]
  19. External Confirmations [SA 505]
  20. Initial Audit Engagements-Opening Balances [SA 510]
  21. Analytical Procedures [SA 520]
  22. Audit Sampling [SA 530]
  23. Auditing Accounting Estimates, Including Fair Value Accounting Estimates, and Related Disclosures [SA 540]
  24. Related Parties [SA 550]
  25. Subsequent Events [SA 560]
  26. Going Concern (Revised) [SA 570]
  27. Written Representations [SA 580]
  28. Using the Work of Another Auditor [SA 600]
  29. Using the Work of Internal Auditors (Revised) [SA 610]
  30. Using the Work of an Auditor’s Expert [SA 620]
  31. Forming an Opinion and Reporting on Financial Statements (Revised) [SA 700]
  32. Communicating Key Audit Matters in the Independent Auditor’s Report (New) [SA 701]
  33. Modifications to the Opinion in the Independent Auditor’s Report (Revised) [SA 705]
  34. Emphasis of Matter Paragraphs and Other Matter Paragraphs in the Independent Auditor’s Report (Revised) [SA 706]
  35. Comparative Information – Corresponding Figures and Comparative Financial Statements [SA 710]
  36. The Auditor’s Responsibility in Relation to Other Information (Revised) [SA 720]

List of applicable Guidance Notes and other publications:

  1. Guidance Note on Audit under Section 44AB of the Income-tax Act.
  2. Guidance Note on Audit of Banks.
  3. Guidance Note on Audit of Internal Financial Controls over Financial Reporting.
  4. Guidance Note on CARO 2020.

Applicability of the Companies Act, 2013 and other Legislative Amendments for November, 2023 Examination:-

Students are expected to be updated with the notifications, circulars and other legislative amendments made up to 6 months prior to the examination. Accordingly, the relevant notified Sections of the Companies Act, 2013 and legislative amendments including relevant Notifications / Circulars / Rules /
Guidelines issued by Regulating Authority up to 30th April, 2023 will be applicable for November, 2023 Examination. It may be noted that the significant notifications and circulars issued which are not covered in the October 2021 edition of Study Material, would be given as Academic Update in the Revision Test Paper for November, 2023 Examination.

Companies (Auditor’s Report) Order, 2020 issued by Ministry of Corporate Affairs is applicable for November, 2023 Examination.

Peer Review Guidelines, 2022 are applicable for November, 2023 Examination

Revised Chapter on Professional Ethics based on Code of Ethics 2020 is applicable for November, 2023 Examination.

Applicability of the Amendments to Schedule III to the Companies Act, 2013: The Central Government made certain amendments in Schedule III to the Companies Act, 2013 (vide Notification dated 24th March, 2021), with effect from 1st day of April, 2021.These amendments to Schedule III are applicable for November, 2023 Examination.

Amendments of Chapter on Audit of NBFCs are applicable for November, 2023 Examination.

List of topic-wise exclusions from the syllabus:

  • Chapter 14: Special Audit Assignment topic has been excluded.
  • In view of Exclusion of SA 800 Series, SREs, SAEs and SRSs series Chapter 7 will be excluded from the syllabus for November, 2023 Examination.
  • Non-Applicability of GST Audit topic: GST Audit Topic is not applicable for November, 2023 Examination.

Following Engagement and Quality Control Standards excluded:

  1. SA 800 Special Considerations-Audits of Financial Statements Prepared in Accordance with Special Purpose Framework
  2. SA 805 Special Considerations-Audits of Single Purpose Financial Statements and Specific Elements, Accounts or Items of a Financial Statement
  3. SA 810 Engagements to Report on Summary Financial Statements
  4. SRE 2400 Engagements to Review Historical Financial Statements (Revised)
  5. SRE 2410 Review of Interim Financial Information Performed by the Independent Auditor of the Entity
  6. SAE 3400 The Examination of Prospective Financial Information
  7. SAE 3402 Assurance Reports on Controls At a Service Organisation
  8. SAE 3420 Assurance Engagements to Report on the Compilation of Pro Forma Financial Information Included in a Prospectus
  9. SRS 4400 Engagements to Perform Agreed Upon Procedures Regarding Financial Information
  10. SRS 4410 Compilations Engagements (Revised).

Following Guidance Notes and other publications are excluded:

  1. Code of Ethics publication is excluded whereas Chapter 18 on Professional Ethics is in syllabus
  2. Guidance Note on Independence of Auditors.
  3. Guidance Note on Audit of Inventories.
  4. Guidance Note on Audit of Debtors, Loans and Advances.
  5. Guidance Note on Audit of Investments.
  6. Guidance Note on Audit of Cash and Bank Balances.
  7. Guidance Note on Audit of Liabilities.
  8. Guidance Note on Audit of Revenue.
  9. Guidance Note on Audit of Expenses.
  10. Guidance Note on Computer Assisted Audit Techniques (CAATs).
  11. Guidance Note on Audit of Payment of Dividend.
  12. Guidance Note on Audit of Capital and Reserves.
  13. Guidance Note on Reporting under section 143(3)(f) and (h) of the Companies Act, 2013
  14. Guidance Note on Reporting on Fraud under section 143(12) of the Companies Act, 2013.

Paper-4: CEL (Corporate and Economic Laws)

Download CL and EL Study Material 2022 Edition for Nov 2023 examination. You should go through CA Final Corporate Law (CL) and Economic Law (EL) RTP released for Nov 2023.

The provisions of Companies Act, 2013 along with significant Rules/ Notifications/ Circulars/ Clarification/ Orders issued by the Ministry of Corporate Affairs and the laws covered under the Economic Laws, as amended by concerned authority, including significant notifications and circulars issued up to 30th April 2023, are applicable for November 2023 examination.

Part I: Section A- Company Law: The entire content included in the October 2021 edition of the Study Material and the Legislative amendments covered in RTP for November 2023 examinations, shall only be relevant for the said examinations. Except the Relevant rules to the extent covered in the October 2021 edition of the Study Material and RTP for November 2023, all other Rules of the Companies Act, 2013 are excluded.

Following sections of the Companies Act, 2013 are excluded: – 337-343, 348-351, 359-378, 396-405, 408-419, 441, 448- 449, 451-453, 456 -470 and provisions related to Producer Companies.

Part I: Section B- Securities Laws:-

Chapter 1: The Securities Contract (Regulation) Act, 1956 and Securities Contract (Regulation) Rules, 1957 – Entire Chapter Excluded.

Chapter 2: The Securities Exchange Board of India Act, 1992, SEBI (ICDR) Regulations, 2009 and SEBI (LODR) Regulations, 2015.

  • Following provisions of the SEBI Act, are excluded – Sections 2(1)(b), 2(1)(c), 2(1)(d), 2(1)(da), 2(1)(f), 2(1)(fa), 2(1)(g), 20, 21, 25, 28 & 33.
  • SEBI (ICDR) Regulations is excluded.

Part II: Economic Laws:-

Chapter 1: The Foreign Exchange Management Act, 1999

  • Following provisions of the FEMA, 1999 is excluded for the examination-Sections 2(cc) & Section 2(gg), 16(2)- 16(6) ,17(4) 17(6), 19 to 34, 37(2) – 37(3), 37A, 45, 46, 47 & 48.
  • All other FEM (Regulations)/ Rules except given in column (3), are excluded.

Chapter 2: SARFAESI Act, 2002 – Section 20 and onwards are excluded.

Chapter 3: Prevention of Money Laundering Act, 2002

  1. Following sections are excluded for examination: 2(1)(a), (b)(c), (d), (da), (f), (g), (h), (i), (ia), (ib), (j), (ja), (k), (m), (na), (o), (q), (r), (rc), (s), (sa), (sb), (sc), (t), (va), (z) , (zb) & (2)- Definitions, 6(3)-6(15), 7, 10, 11, 16 to 24, 35(1), 35(3)- 35(5), 36- 37, 39- 40, 49 to 54, 58A – 58B, 59-60, 61, 67-68, 73, 74 & 75.
  2. Rules related to PMLA is excluded in its entirety.

Chapter 4: Foreign Contribution Regulation Act, 2010 – Following Sections are excluded for examination: Section 2(1)(a), (b), (c), (d), (e), (f), (k), (l), (o), (p), (q), (s), (t), & (u)- Definitions, 21, 23 – 27, 44, 45, 49, 53 & 54.

Chapter 6: The Insolvency and Bankruptcy Code, 2016 – Provisions from section 60 onwards are excluded.

Paper-5: SCMPE (Strategic Cost Management and Performance Evaluation)

Download SCM & PE Study Material 2022 Edition plus corrigendum which is applicable for Nov 2023. You should go through costing RTP Nov 2023 for CA Final amendments.

Paper 6A: Risk Management

The pattern of examination for this paper is open-book and case study based. The entire content included in the August 2019 edition of the Study Material (including additional topics mentioned in the syllabus) shall be relevant for the November 2023 examination.

Paper 6B: Financial Services and Capital Markets

The pattern of examination for this paper is open-book and case study based. Part A of the Study Material of Financial Services and Capital Markets (November 2020 Edition) shall be relevant for the November 2023 examination. Furthermore, following SEBI Regulations (excluding Schedules) revised upto 30th June 2023 are also relevant:

  • SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015
  • SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018
  • SEBI (Prohibition of Insider Trading) Regulations, 2015
  • SEBI (Buy Back of Securities) Regulations, 2018
  • SEBI (Mutual Funds) Regulations, 1996.

Paper 6C: International Taxation

Applicability of amendments made by Finance Act: As far as the applicability of Finance Act is concerned, the amendments made by the Finance Act of a particular year would be applicable for May and November examinations of the next year. Accordingly, the direct tax laws, as amended by the Finance Act, 2022, would be applicable for November, 2023 examinations. The relevant assessment year for November, 2023 examinations is A.Y.2023 –

This would be relevant as far as the topics on International Taxation pertain to the Income – tax Act, 1961, equalization levy and the Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015.

However, if the case study based question requires computation/determination relating to any earlier assessment year also, then, the relevant provisions pertaining to that year would be given in the question itself. In the alternative, the question may mention that the relevant provisions in the earlier year were the same as they are for A.Y.2023-24.

Applicability of amendments made by circulars, notifications, press releases/press notes and other legislations:

Students are expected to be updated with the notifications, circulars, press releases/press notes issued and other legislative amendments made in direct tax laws upto 6 months prior to the examination. For instance, for November, 2023 examination, significant notifications, circulars, press releases/press notes issued by the CBDT/Central Government and legislative amendments made upto 30th April, 2023 would be relevant.

Applicability of provisions of direct tax laws dealt with in Final (New) Paper 7 while addressing issues and making computation in case study based questions in Final (New) Paper 6C

The questions based on case study in the Elective Paper 6C: International Taxation may involve application of other provisions of direct tax laws dealt with in detail in Paper 7: Direct Tax Laws and International Taxation, which the students are expected to be aware of. Students may note that they are expected to integrate and apply the provisions of direct tax laws (dealt with in Final Paper 7: Direct Tax Laws and International Taxation and in the Elective Paper 6C: International Taxation) in making computations and addressing relevant issues in questions raised in the Elective Paper 6C on International Taxation.

Therefore, the October, 2021 edition of the Study Material for Final Paper 6C: International Taxation available at https://www.icai.org/post.html?post_id=17802 and Final Paper 7: Direct Tax Laws and International Taxation available at https://www.icai.org/post.html?post_id=17843 read along with the Supplementary Study Paper – 2022, containing the amendments made by the Finance Act, 2022 and notifications and circulars issued between 1.11.2021 to 31.10.2022, the Statutory Update containing the circulars and notifications issued between 1.11.2022 and 30.4.2023 and the Judicial Update (for Final Paper 7) relevant for November, 2023 examination, are relevant and important for answering case-study based questions in Paper 6C. These publications have to be read along with the relevant bare Acts and Rules to address issues and make computations in case study based questions. The initial pages of the Study Material of Paper 6C available at https://resource.cdn.icai.org/66899bos53930ip.pdf contains the link to the important webpages of the income-tax department and the relevant bare Acts and Rules.

Scope of coverage of certain topics: As regards certain topics on International Taxation, namely, Tax Treaties: Overview, Features, Application & Interpretation and Anti-Avoidance Measures, only the content as covered in the October, 2021 edition of the Study Material and Supplementary Study Paper – 2022 is relevant. US Model Convention is excluded from the scope of the topic “Overview of Model Tax Conventions” by way of Study Guidelines.

Paper-6D: Economic Laws

Economic Laws book and amendments hosted by ICAI on BOS knowledge portal. All the significant Rules/ Notifications/ Circulars/ Clarification/ Orders issued in the specified Acts covered under the Economic Laws, up to 30th April 2023, are applicable for November 2023 examination.

Chapter 1: The Competition Act, 2002 and Rules/Regulations – Sections 34, 37, 38 and 40 of Competition Act, 2002 are excluded.

Chapter 2: Real Estate (Regulation and Development) Act, 2016 and Rules/Regulations – Regulations pertaining to RERA are excluded.

Chapter 3: The Insolvency and Bankruptcy Code, 2016 and Rules/Regulations –

  • Following sections are excluded of the Notified chapters of the Code: 3(2), 3(3), 3(5), 3(14), 3(22), 3(24), 3(25), 3(26), 3(28), 3(29), 3(32), 3(36), 3(37), 5(2) to 5(4), 5(16), 5(19).
  • In specific, chapter related to Insolvency resolution and bankruptcy for individuals and partnership firms of the Code (from section 78 to 187) is excluded.
  • Coverage of the Rules or regulations to the IBC are restricted to the extent covered in the study material.

Chapter 4: The Prevention of Money Laundering Act, 2002 and Rules/Regulations

  • Following provisions are excluded for the examination: Sections 2(1)(a), (c), (d), (g), (ga), (h), (m), (ma), (r), , (t), (v), , (x), (za), (zc), (ze), (zg)- (zj), & 2(2)- Definitions, 27, 28, 29, 30, 31, 32, 33, 34, 48, 49, 50, 51, 52, 53, & 54.
  • Rules related to PMLA are excluded.

Chapter 5: The Foreign Exchange Management Act, 1999 and Rules /Regulations

  1. Following provisions of the FEMA, 1999 is excluded for the examination- Sections 17(3) – 17(6), 20 to 31, 33, 45, 46, 47 & 48
  2. Following FEM(Regulations)/ Rules are entirely excluded:
    • Foreign Exchange (Authentication of Documents) Rules, 2000
    • Foreign Exchange (Compounding Proceedings) Rules, 2000
    • Foreign Exchange Management (Adjudication Proceedings and Appeal) Rules, 2000
    • Foreign Exchange Management (Encashment of Draft, Cheque, Instrument and Payment of Interest) Rules, 2000
    • Foreign Exchange Management (Borrowing and lending in Rupees) Regulations, 2000
    • Foreign Exchange Management (Deposit) Regulations, 2016
    • Foreign Exchange Management (Establishment in India of a Branch Office or a Liaison Office or a Project Office or any other place of business) Regulations, 2016
    • Foreign Exchange Management (Export and Import of Currency) Regulations, 2015.
    • Foreign Exchange Management (Foreign Currency Accounts by a person resident in India) Regulations, 2015
    • Foreign Exchange Management (Foreign Exchange Derivative Contracts) Regulations, 2000
    • Foreign Exchange Management (Guarantees) Regulations, 2000
    • Foreign Exchange Management (Insurance) Regulations, 2015
    • Foreign Exchange Management (Investment in firm or proprietary Concern in India) Regulations, 2000
    • Foreign Exchange Management (Issue of security in India by a Branch Office or Agency of a person Resident in outside India) Regulations, 2000
    • Foreign Exchange Management (Manner of Receipt and Payment) Regulations, 2016
    • Foreign Exchange Management (Remittance of Assets) Regulations, 2016
    • Foreign Exchange Management (Transfer or issue of any Foreign security) Regulations, 2004
    • Foreign Exchange Management (Transfer or issue of security by a person resident outside India) Regulations, 2000
    • Foreign Exchange Management (Withdrawal of General permission to Overseas Corporate Bodies) Regulations, 2003
    • Foreign Exchange Management (Removal of Difficulties) Order, 2000
    • Foreign Exchange Management (Crystallization of Inoperative Foreign Currency Deposits) Regulations, 2014
    • Foreign Exchange Management (Offshore Banking Unit) Regulations, 2002
    • Foreign Exchange Management (International financial Services Centre) Regulations, 2015
    • Foreign Exchange Management (Regularization of assets held abroad by a person Resident in India) Regulations, 2015.

Chapter 6: Prohibition of Benami Property Transactions Act,1988 and Rules/ Regulations. The entire content included in the October 2021 edition of the Study Material read with the significant relevant amendments hosted on the website, shall only be relevant.

Chapter 7: The entire content included in the October 2021 edition of the Study Material read with the significant relevant amendments hosted on the website, shall only be relevant.

Paper-6E GFRS: Global Financial Reporting Standards

Announcement uploaded on the ICAI website plus ‘Significant Differences between IFRS and US GAAP’ is applicable for Nov 2023 exam. Additionally, you should download GFRS Case studies and major differences between Ind AS and IFRS.

Since the Core paper on Financial Reporting does not cover Ind AS equivalent to IAS 26, IAS 29, IFRS 4, IFRS 6, IFRS 14, IFRS 16 and IFRS 17, the same IFRS shall also not form part of the GFRS Paper.

Similarly, in applicable Ind AS there are no corresponding Appendix on IFRIC 2, IFRIC 23 and SIC 7, so they have not been discussed in the Core paper on Financial Reporting. Hence the same shall also not form part of the GFRS Paper.

Students are expected to be updated with the notifications, circulars and other legislative amendments in Ind AS corresponding to IFRS, made upto 6 months prior to the examination. In specific, notification issued by the MCA on 30.3.2019 for amendments in Indian Accounting Standards is relevant for GFRS paper for November, 2023 examination with respect to IFRS.

Paper-6F (Multidisciplinary Case Study): No books are separately released for multi-disciplinary case studies. CA final students are advised to refer to study material of final course for core papers.

Paper-7: DTLIT (Direct Tax Laws and International Taxation)

Applicability of Finance Act, Assessment Year etc. for November, 2023 Examination The provisions of direct tax laws, as amended by the Finance Act, 2022 including significant notifications, circulars and press releases issued up to 30th April, 2023, are applicable for November, 2023 examination. The relevant assessment year is A.Y. 2023-24.

The October, 2021 edition of the Study Material contains the provisions of direct tax laws [Modules 1, 2 and 3] and international taxation [Module 4]. The same has to be read along with the Supplementary Study Paper -2022 containing the amendments made by the Finance Act, 2022 and notifications and circulars issued between 1.11.2021 and 31.10.2022; the Statutory Update containing the amendments made by way of notifications and circulars issued between 1.11.2022 and 30.4.2023 and the Judicial update for November, 2023 examination.

Scope of coverage of certain topics in Part II: International Taxation As regards certain topics on International Taxation, namely, Overview of Model Tax Conventions, Application & Interpretation of Tax Treaties and Fundamentals of Base Erosion and Profit Shifting, the specific content as covered in the October, 2021 edition of the Study Material and Supplementary Study Paper – 2022 would be relevant for November, 2023 Examination.

Paper-8: ITL (Indirect Tax Laws)

For IDT CA Final amendments, you should use 2022 edition of study material read with statutory update for CA Final November 2023 Examination. Also download CA Final GST RTP Nov 2023.

  1. Case Scenarios for May, 2023 and November, 2023 Examination
  2. Supplementary Study Paper for Nov, 2023 Exam

The provisions of CGST Act, 2017 and IGST Act, 2017 as amended by the Finance Act 2022, which have become effective up to 30th April, 2023, including significant circulars and notifications issued up to 30th April 2023.

The provisions of the Customs Act, 1962 and the Customs Tariff Act, 1975, as amended by the Finance Act 2022, including significant notifications and circulars issued up to 30th April 2023.

Statutory Update for November, 2023 examination

Part-I: Goods and Services Tax- Provisions which are excluded from the corresponding topic of the syllabus:

  • (i) Rate of tax prescribed for supply of goods*
  • (ii) Rate of tax prescribed for supply of services*
  • (iii) Exemptions for supply of goods
  • (iv) Categories of supply of goods, tax on which is payable on reverse charge basis
  • Value of supply in cases where Kerala Flood Cess is applicable

Input tax credit:

  • (i) Manner of determination of input tax credit in respect of inputs, input services and capital goods and reversal thereof in respect of real estate projects
  • (ii) Manner of reversal of credit of additional duty of customs in respect of Gold dore bar

Procedures under GST

  • (i) Furnishing of GSTR-2, GSTR-1A and GSTR-3
  • (ii) Matching, reversal & reclaim of input tax credit (iii) Matching, reversal & reclaim of reduction in output tax liability.

Completely excluded:-

  1. (v) Officers of Customs; Appointment of customs ports, airports etc.
  2. (vii) Provisions relating to coastal goods and vessels carrying coastal goods
  3. (viii) Warehousing
  4. (x) Demand and Recovery
  5. (xi) Provisions relating to prohibited goods, notified goods, specified goods, illegal importation/exportation of goods

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