ICAI has notified Revised Annual Membership/ COP Fee for Associate/ Fellow Members w.e.f. 1 April, 2017 (i.e. applicable for FY 2020-21 also) subject to additional GST of 18%, with deadline of 30th June each year.
ICAI has notified the revised fee for Entry/ Restoration of Name in the Members’ Register applicable w.e.f. 1 April, 2017, as under:
|S.N.||Particulars of fee payable by ICAI Members||Fee for FY 2017-18 (Rs.)||Fee for FY 2020-21 with 18% GST|
|1||Entrance Fee payable under regulation 5|
|i) as an Associate||2,000||2,360|
|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, 2019 for FY 2019-20.
Advance Payment of Membership Fee for 10 years
The ICAI Council has decided to give an option to pay advance Membership/ COP fee in exact amount for 10 years along with GST as a final payment and in case of any shortfall owing to 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 has 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.
Advancement/ Extension of last date of Membership/ COP Fees for FY 2019-20
ICAI has recently decided to advance the last date for payment of Membership/ COP fees from 30th September to 30th June every year (from FY 2019-20 onwards). However, there will be a grace period of 3 months upto 30 September, during which no late fee will be levied for late payment.
In case the Membership/ COP Fees is not paid by 30 September every year, Membership/ COP will be removed with effect from 1 October under the relevant regulatory provisions.
Further, it may be noted that ICAI has extended the deadline upto 31 Dec. 2019 for payment of Membership/ COP Fee for FY 2019-20, vide Announcement dt. 29 Nov. 2019.
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
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