ICAI announces Fee Revision of Expert Advisory Committee Services

According to a resolution made by the Institute of Chartered Accountants of India (ICAI) council at its 420th meeting, held on March 23 and 24, 2023, a new category has been added to the unlisted firms/companies.

The companies having an annual turnover of Rs. 50 crores or less were added. The fees for this category is Rs. 25,000 plus Goods and Services Tax (GST) per query.

The Expert Advisory Committee (EAC) comprises experts from various fields, including accounting, taxation, finance, and law. The committee members are appointed based on their expertise, experience, and knowledge in their respective fields.

The main responsibility of EAC is to advise the ICAI Council on different technical matters and assist in creating standards and rules for the accounting industry. The committee also makes suggestions for ICAI members’ professional development activities and programmes.

The companies were categorised as listed on and not listed on a recognised stock exchange. All the fees are charged per query.

The updated fee schedule is listed below:

1. Queries related to companies whose equity or debt securities are listed on a recognised stock exchange:
2. Companies having annual turnover exceeding Rs. 500 crores based on the annual accounts of the year immediately preceding the date of sending of the query

Fee: Rs. 200,000/- plus taxes (as applicable) per query

• Companies having an annual turnover of Rs.500 crores or less based on the annual accounts of the year immediately preceding the date of sending of the query

Fee: Rs. 100,000/- plus taxes (as applicable) per query

2. Queries related to companies whose equity or debt securities are not listed on a recognised stock exchange:

1. Companies having an annual turnover exceeding Rs. 500 crores based on the annual accounts of the year immediately preceding the date of sending of the query

Fee: Rs. 200,000/- plus taxes (as applicable) per query

• Companies having an annual turnover of Rs.500 crores or less but more than Rs. 100 crores based on the annual accounts of the year immediately preceding the date of sending of the query

Fee: Rs. 100,000/- plus taxes (as applicable) per query

• Companies having an annual turnover of Rs.100 crores or less but more than Rs. 50 crores based on the annual accounts of the year immediately preceding the date of sending of the query

Fee: Rs. 50,000/- plus taxes (as applicable) per query

• Companies having an annual turnover of Rs.50 crores or less based on the annual accounts of the year immediately preceding the date of sending of the query.

Fee: Rs. 25,000/- plus taxes (as applicable) per query

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