Revised Annual ICAI Membership Fee for Associate/ Fellow Members and Certificate of Practice (COP) Fee for 2018-19; Entry/ Name Restoration in the Member’s Register (fee revised from 1 April, 2017) along with GST @18%
The ICAI has notified the Revised Annual Fee for Associate/ Fellow Membership and COP w.e.f. 1 April, 2017 which is applicable for FY 2018-19 also, subject to GST @18%. Also ICAI has notified the revised fee for Entry/ Restoration of Name in the Members’ Register applicable w.e.f. 1 April, 2017. The fee scales can be summarised as under:
|S.N.||Particulars of fee payable by ICAI Members||Fee for FY 2017-18 (Rs.)||Fee for FY 2018-19 with 18% GST|
|1||Entrance Fee payable under regulation 5|
|i) as an Associate||2,000||2,300|
|ii) as a Fellow||2,500||2,950|
|2||Annual Membership Fee (2018-19) payable under Regulation 6(1)|
|i) as an Associate Member||1,500||1,770|
|ii) as a Fellow Member||3,000||3,540|
|3||Certificate of Practice fee (2018-19) payable under Regulation 6(2)|
|i) as an Associate Member||3,000||3,540|
|ii) as a Fellow Member||4,000||4,720|
|4||Fee for restoration of name in the Register of Members payable under Regulation 6(3)|
|i) within 3 years of removal||1,200||1,416|
|ii) after 3 years of removal but before 5
|iii) after 5 years of removal||4,000||4,740|
|5||Membership Fee for those who are not holding COP and are having age of 60 years and above as on 1 April 2018 (for 2018-19)|
|a) Associate Members||1,100||1,298|
|b) Fellow Members||2,300||2,714|
It may be noted that revised fee scales for all Members in practice are the same, i.e. now there is no differentiation of fee based on age for members holding COP, like till 2016-17. However, for those who are not in practice, concessional membership fee is applicable, if he/ she has attained age of 60 years and above as on 1 April of respective Financial Year, i.e. as on 1 April, 2018 for FY 2018-19.
Last Date to Pay Membership Fee to ICAI for FY 2018-19
Payment of membership fee for the financial year 2018-19 becomes due on 1 April, 2018 and must be paid on or before 30 Sept. 2018, or as may be extended by ICAI.
Advance Payment of Membership Fee to ICAI
(a) Members can pay advance Membership/ COP fee in exact amount for 3 years (1+2 years) along with GST as a final payment and in case of any shortfall in case of revision of fee in future their Name/ COP will not be removed from the Register of Members on account of such revision.
(b) Members, who have already paid advance fee for the earlier years, may please pay the balance fee/ difference of the fee payable. It may please be noted that payment of balance fee/ difference of fee is a must for renewal of membership/ certificate of practice, as the case may be.
(c) It may be noted that ICAI do not permit Refund of amount received, under any circumstances except in the case of removal of the name of a member from the Register of Members under the provisions of the Chartered Accountants Act, 1949 as amended by the Chartered Accountants (Amendment) Act, 2006 and the Chartered Accountants Regulations, 1988.
(d) In the case of death, the fee for the year in which removal takes place would be deducted and the balance of the advance amount remitted, if any would be refunded to nominee(s)/ legal heir(s) of the member concerned. In all other cases, the balance of advance amount, after such a deduction as aforesaid, if any would be kept to the credit of the member concerned for adjustment towards annual membership fee payable at the time of restoration.
(e) Interest on the amount remitted/ refunded would not be payable by ICAI at all.
Membership/ COP Fee (2016-17) for Associate/ Fellow Members of ICAI (upto / above 60 years )
|ICAI Fee (2016-17) For Members of Age below 60 years*||ICAI Fee (2016-17) For Members of Age 60 years and above*|
|Associate Without Certificate of Practice||800||Associate Without Certificate of Practice||600|
|Associate With Certificate of Practice||2,800||Associate With Certificate of Practice||2,100|
|Fellow Without Certificate of Practice||2,200||Fellow Without Certificate of Practice||1,600|
|Fellow With Certificate of Practice||4,200||Fellow With Certificate of Practice||3,100|
* as on 1 April, 2016