Page 104 - GSTL_20th August 2020_Vol 39_Part 3

318 GST LAW TIMES [ Vol. 39
(d) Copies of a Marks Memo of CMA Course issued by ICWAI for the
Level-1 course [Foundation] is filed herewith.
(e) Copies of a Marks Memo of CMA Course issued by ICWAI for the
Level-2 course [Intermediate] are filed herewith.
(f) Copies of a Marks Memo and Certificates of CMA Course issued by
ICWAI for the Level-3 course [Final] are collectively filed herewith.
4.17 In the earlier Adjudication Orders passed by the Commissioner of
Central Tax under the service tax regime, demands were confirmed on the coach-
ing provided for the CPT course and ICWA Foundation courses on the ground
that they do not lead to grant of certificates but only qualifications. Under nega-
tive list of service tax regime and GST regime, there is no such stipulation of
granting of a certificate but obtaining a qualification is sufficient to claim the ex-
emption.
4.18 Further, prospectus of CA Course issued by ICAI and CMA
Course issued by ICWAI, clearly specifies that Foundation is Level-1 Course out
of three levels of CA/CMA Courses, and it has specified syllabus and part of
curriculum prescribed by these institutes and the students of intermediate educa-
tion who studied the four months Foundation Course and qualified in the exam-
inations conducted by the institutes will only be eligible for Second Level of
CA/CMA otherwise they should have had a prescribed degree certificate with
the specified subjects secured a minimum of 55% marks for commerce degree
and 60% for non-commerce degree, issued by recognized university. Hence, it is
very much clear that Foundation Course is a qualification recognized under law
and issued by the Institute which established under an Act of Parliament. Fur-
ther, the student who wishes to study CA/CMA courses shall have to register
with respective Institute, which is valid for three years and he has to pass the
Foundation Course. If he fails to pass through the above within three years, he
has to register again for completion of Foundation Course. The enrolment num-
ber given at the time of registration will remain as his ID No. for entire duration
of the completion of CA/CMA Course.
4.19 The ICAI issues a Marks Memorandum under Chartered Account-
ants Act, 1949 read with Regulation 25D(3) of the Chartered Accountants Regula-
tions, 1988 when a candidate passes the CPT/Foundation examination. The
Marks Memorandum issued under statutory authority and it is showing as is-
sued for passing the exam and as a qualification to go to next stage. The certifi-
cate for CA completion is issued under Regulation 25E of the said Regulations.
The confusion appears to be due to not understanding the replacement of the
term ‘certificate’ with ‘qualification’.
4.20 In respect of the CA-Intermediate Course [previously known as In-
tegrated Professional Competence Course (IPCC)], it is the second stage in com-
pletion of CA course after the completion of CA-Foundation (CPT). Intermediate
Course (IPCC) consists of two groups i.e., Group-1 and Group-2 with a duration
of 8 months i.e., a student has to wait for a minimum of 8 months to write the
IPCC exam after registering for IPCC with ICAI. Student wall be issued a certifi-
cate from ICAI (Annexure-L) under Chartered Accountants Act, 1949 read with
Regulation 25D(3) of the Chartered Accountants Regulations, 1988 when he/she
passes the IPCC/CA-Inter examination. The certificate issued by statutory au-
thority shows that it has been issued for passing the exam and as a qualification
to go to next stage i.e., article-ship for 3 years. It is an intermediate stage to cross

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