Page 103 - GSTL_20th August 2020_Vol 39_Part 3

2020 ] IN RE : MASTER MINDS 317
with practical training will be awarded Chartered Accountancy Cer-
tificate. A person who qualified bachelor’s degree in Commerce &
Economics with certain percentage shall [be] eligible to register for
Level Two of CA Course i.e., intermediate and the students who
qualified in the Intermediate level of examination of the Institute of
Cost Accountants of India and The Institute of Company Secretaries
of India will be exempted from Foundation Course and shall [be]
eligible to enroll directly for Intermediate [Level Two].
(e) Coaching for Cost Management Accountancy Course [CMA] con-
ducted by the [***] Institute of Cost and Works [Accountants] of
India [ICWAI], a statutory body established by an Act of Parlia-
ment, viz. Cost And Works Accountants Act, 1959 for regulating the
profession of Cost Accountancy in India. With effect from 1-8-2016,
the institute has implemented the new scheme of education (new
syllabus) for Chartered Accountancy Course, which consists of
three levels i.e.
(a) Foundation Course (Level One)
(b) Intermediate Course (Level Two)
(c) Final Course (Level Three).
(f) The ICMAI Institute designs the curriculum of syllabus for the three
level of CMA course and provides study material to the enrolled
students. After qualifying in the examinations conducted by the in-
stitute and successful completion of each level of CMA Course, the
institute will issue Marks Memos and Certificates to the students as
is done, for a degree course, by any University. Copy of Prospectus
for CMA course taken from the website of ICAI is filed herewith.
Admission to Foundation and Intermediate Course of CMA is as
par with CA course. Further, foundation Course of CA/CMA is not
an admission examination, but it is a Part of CA/CMA Course and
only students who qualified in a specified degree courses are eligi-
ble for direct entry into Intermediate Course of CA/CMA.
4.15 Therefore, he satisfied the second limb of the definition of the term
‘educational institution’ to avail the exemption, the institution shall provide ‘ed-
ucation’ as per the curriculum prescribed by the statutory bodies as part of its
coaching provided to the students and therefore, he is eligible for the exemption.
4.16 With regards to the question whether the above qualifica-
tions/certificates issued by the statutory bodies are to be treated as ‘qualification’
or not, the documentary evidence filed herewith clearly establishes how the
above courses are qualifications recognized under law as also held by Commis-
sioner of GST and Central Tax in his order dated 11-3-2015 copy of which is filed
herewith.
(a) Copies of a Marks Memo of CA Course issued by ICAI for the Lev-
el-1 course (Foundation) are filed herewith.
(b) Copies of a Marks Memo and Certificates of CA Course issued by
ICAI for the Level-2 course [Intermediate] are collectively filed
herewith.
(c) Copies of a Marks Memo and Certificates of CA Course issued by
ICAI for the Level-3 course [Final] are collectively filed herewith.

GST LAW TIMES  20th August 2020  103