The Institute of Chartered Accountants of India ( ICAI ) Council has decided to give an option to pay advance Membership/COP fee in the exact amount for 10 years along with GST as final payment and in case of any shortfall owing to the revision of fee in future; their Name/COP will not be removed from the register of members on account of such revision.
Further, Members may also note that in case the advance fees have been paid in the past, the balance fees/difference of the fee becomes payable in the current financial year. In other words payment of balance fee /difference in fee is a must for renewal of membership/certificate of practice, as the case may be.
It may be noted that an ACA who has paid advance membership fee for a period not exceeding 10 years and at a later stage opt for FCA status then the member is required to pay difference fee (the difference of fee in conversion from ACA to FCA and Fellow Member Admission Fee) for the remaining period.
This facility will be applicable w.e.f. 1st April 2020.
