Reetu | Sep 23, 2023 |
Deadline to pay ICAI’s Annual Membership Fees for 2023-2024 approaching soon; Know Fees Structure
The Institute of Chartered Accountants of India (ICAI) has notified that the Deadline to pay ICAI’s Annual Membership Fees for 2023-2024 is approaching soon i.e 30th September 2023. ICAI members who haven’t paid their Annual membership fees or Certificate of Practice fees for the year 2023-24 yet, pay now to avoid last minute rush on portal. The CA Members are strongly encouraged to make the payment as soon as possible.
ICAI had released a Fee Circular in may 2023 urging members to pay Annual Membership Fees or Certificate of Practice fees for the year 2023-2024. These fees became payable on April 1, 2023, and must be paid by September 30, 2023. All Members are requested to pay the fee immediately as Tax Invoice (in terms of GST Liability) has been already generated. The applicable amount of Annual Membership/Certificate of Practice Fee including GST is given below.
Members may also pay total membership/COP fees in advance in exact amount for 10 years (1+9 years) along with GST. In such a case, if the fee is increased in the future, their membership/COP will not be removed/cancelled from the Register of Members/COP due to the fee increase.
It should be noted that an ACA who has paid an advance membership fee for a period of no more than ten years and then opts for FCA status is required to pay the difference in fee (the difference in fee in conversion from ACA to FCA and Fellow Member Admission Fee) for the remaining period.
ICAI is currently sending a reminder notice to CA Members requesting to pay Membership/ COP Fees for the year 2023-24.
In the notice, ICAI stated:-
In continuation to our Fee Circular dated 26 May 2023 requesting the Members to pay the Membership/COP fee which might have escaped your attention, maybe, due to other engagements, etc. The Institute reminds you to pay the Membership/COP fee latest by 30th September 2023.
Kindly appreciate that payment of the annual Membership/COP fee entitles you for continuing benefits of ICAI privileges and standing seniority in the profession. Non-payment of the Membership/COP fee within the stipulated time may result in removal of Membership/COP and cessation of Practice.
Before making the payment of annual membership fees all the Members are required to submit mandatorily the “Know Your Member (KYM)” Application Form annually through the Self-Service Portal (SSP) of the ICAI Members who have not yet submitted the KYM, may kindly submit the same.
Please Note that the Payment of fee shall be made online only through Self-Service Portal (SSP).
In case of any Doubt regarding Membership you can mail us at [email protected]
Join Studycafe's WhatsApp Group or Telegram Channel for Latest Updates on Government Job, Sarkari Naukri, Private Jobs, Income Tax, GST, Companies Act, Judgements and CA, CS, ICWA, and MUCH MORE!"
