The Institute of Cost Accountants of India has released the clarification for June 2021 term for the CMA Intermediate and final students. The clarification has been released for the applicability of several provisions under companies’ rules, CAS 1-24, Companies Act, 2013 etc. It was released on 09.04.2021, under the reference number: DoS_Academics/4/2021 and subject: CLARIFICATION FOR JUNE 2021 TERM OF EXAMINATION. This article contains the complete information you need to know about the release.
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| SI. No. | Issue | Applicable for | Reference papers | Facilities Provided |
| 1 | Companies (Cost Records and Audit) Rules. 2014 as amended upto 30th November, 2020 | Intermediate and Final under syllabus 2016 | Syllabus 2016 Paper 12- Company Accounts & Audit (Intermediate) Paper 19 – Cost & Management Audit (Final) | Information uploaded under Companies (Cost Records and Audit) Rules 2014 Updated 2019 (Consolidated) https://icmai.in/upload/pd/companiesCRAR 2019.pdf |
| 2 | CAS 1-24 (Amended upto 30th November, 2020) | Intermediate and Final under syllabus 2016 | Syllabus 2016 Paper 8 – Cost Accounting (Intermediate) Paper 19 – Cost & Management Audit (FinaI) | Supplementary for Limited revision of CAS uploaded in website link https://www.icmai.in/upload/CASB/C AS 4 Revised 280220 T 9.pdf htts://icmai.in/upload/Students/Supplemen tary/LR-CAS-2017.pdf |
| 3 | Companies Act 2013 | Intermediate and Final under syllables 2016 | Syllabus 2016 Paper 6- Laws & Ethics (Intermediate) Paper 12- Company Accounts & Audit (intermediate) Paper 13 – Corporate Laws & Compliance (Final) Paper 17- Corporate Financial Reporting (Final) Paper 19 – Cost & Management Audit (Final) | The provisions of Companies Act, 2013 and Insolvency and Bankruptcy Code. 20t6 along with significant Rules / Notifications / Circulars / Orders issued by the Ministry of Corporate Affairs and the laws covered under Other Corporate Laws as amended by the concerned authority, including significant amendments upto 30’” November, 2020 would be applicable for June, 2021 term of examination https //icmai.in/studentswebsite/SyI-2016.php |
| 4 | Finance Act 2020 | Intermediate and Final | Syllabus 2016 Paper 7- Direct Taxation (Intermediate) Paper 11- Indirect Taxation (Intermediate) Paper 16 – Direct Tax Laws and International Taxation (Final) Paper 18 – Indirect Tax Laws and Practice (Final) | Paper 7, 11, 16, & 18 Amendments upto 30th November 2020 have been uploaded on the website https //icmai.in/studentswebsite/SyI-2016.php |
| 5 | GST | Intermediate and Final | Syllabus 2016 Paper 11 (Intermediate) Paper 18 (Final) | Follow link for Paper 11 (For Intermediate) https://icmai.in/upload/Student/Syllabus2016/Inter/Paper-11-April-2021.pdf Follow link for Paper 18 (For Final) https://icmai.in/upload/Student/Syllabus2016/Final/Paper-18 Jan-2021.pdf Follow link for updation: Paper 11 (Intermediate) https://icmai.in/upload/Student/Supplementary/Paper-11 Supplementary_110221.pdf Paper 18 (Final) https://icmai.in/upload/Student/Supplementary/Paper-18 Supplementary_180221.pdf |
| 6 | IND AS | Not applicable for Intermediate. Only applicable for Final. | Syllabus 2016 Paper 17 (Final) | Follow the link for clarification https://icmai.in/upload/Student/Supplementary/Clarification-Applicability-June21.pdf Follow the links for updation study Material for Paper 17- https://icmai.in/upload/Student/Syllabus2016/Final/Paper-17_Feb-2021.pdf and Supplementary on Paper-17 https://icmai.in/upload/Student/Supplementary/Paper-17_25_Feb_21.pdf [Applicable for Students not having Revised February, 2021 Edition Study Material of Paper-17 on Corporate Financial Reporting.] |
| 7 | Insolvency and Bankruptcy Code 201d & SEBI Issue of Capital and Disclosure Requirements (ICDR) Regulations 2018 | Final syllabus 2016 only | Paper 13 syllabus 2016 only | Paper 13 revised study material uploaded in website https://icmai.in/upload/Students/Syllabus2016/Final/Paper-13-Feb-21.pdf https://icmai.in/upload/Students/Supplementary/IBC- 2016.pdf and https://icmai.in/upload/Students/Supplementary/Supplementary_Paper 13.pdf |
| 8 | Pension Fund Regulatory and Development Authority ACT 2013 | Intermediate Syllabus 2016 Only | Paper6 Syllabus 2016 | Follow the link for detailed notification https://icmai.in/upload/Students/Supptementory/Pension-Fund.pdf |
So, this was the clarification issued by ICMAI for the intermediate and final-level students. In case of any confusion, feel free to reach out to the professionals at CMA Nation. Also, for more such updates and notifications, make sure to stay tuned.
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