CA Final Nov 2026 IBS important questions: 10 repeat types
CA Final IBS important questions for November 2026 are ten question types ICAI keeps setting inside its case studies: a strategy framework applied to the case, a forex hedge decision, GST, customs valuation, an income-tax computation, an Ind AS treatment, an audit standard, a costing decision, a valuation or investment number, and the 2-mark MCQs. Most came up in every one of ICAI's last four IBS papers. Below: where ICAI set each, what its answer did, and the trap the examiners flagged.
IBS is on Friday, 13 November 2026, the last paper of Group II. The pattern, time plan and open-book kit are in our CA Final IBS case study preparation guide; this post is about the questions inside the cases.
Where these IBS important questions come from
References are to ICAI's Paper 6 suggested answers: May 2025 (PDF) (opens in a new tab), September 2025 (PDF) (opens in a new tab), January 2026 (PDF) (opens in a new tab) and May 2026 (PDF) (opens in a new tab). In each case, x.1 to x.5 are 2-mark MCQs and x.6 to x.8 are descriptive, 15 marks in all.
Examiners' comments are from ICAI's May 2026 Group II suggested answers (PDF) (opens in a new tab) and January 2026 Group II examiners' comments (PDF) (opens in a new tab). ICAI's RTP for November 2026, Group II (PDF) (opens in a new tab) has two IBS cases, an airline and a pharma company. The grouping into types is ours.
CA Final IBS important topics: the 10 types at a glance
| # | Question type | Example (case.question, marks) | Papers with it |
|---|---|---|---|
| 1 | Strategy framework applied to the case | May 2026 5.6, 7S (6) | 4 of 4 |
| 2 | Forex hedge or currency choice | May 2026 1.7 (5) | 4 of 4 |
| 3 | GST: ITC, valuation, notices | Jan 2026 4.7 (6) | 4 of 4 |
| 4 | Customs valuation and duty | May 2025 3.7 (7) | Most papers |
| 5 | Income-tax computation or note | May 2026 1.8 (5) | 4 of 4 |
| 6 | Ind AS treatment, often leases | May 2026 5.7 (5) | 4 of 4 |
| 7 | Audit standard or ethics applied | May 2026 4.7 (5) | 4 of 4 |
| 8 | Costing decision | Jan 2026 2.6 (6) | 4 of 4 |
| 9 | Valuation and investment numbers | May 2026 3.7 (6) | May 2025, Jan 2026, May 2026 |
| 10 | The 2-mark MCQs | Five per case | 4 of 4 |
1. Strategy frameworks: the most-set IBS question type
Recent papers have set descriptive questions that ask you to apply a Strategic Management or business framework to the case, often more than one. May 2026 asked for the Business Model Canvas (1.6), a pricing strategy (4.8) and McKinsey's 7S (5.6). January 2026 asked for Value for Money's four pillars (3.6) and the value chain under TQM (4.6). September 2025 asked for Porter's Five Forces (4.8), and ICAI's question warned: "Your answer must be with reference to the facts of the case study and not a mere abstract reference of the Model." The Nov 2026 RTP's first case asks for 7S again.
What wins marks: one line naming each element, then the case's own facts under it.
The trap: copying the textbook. The examiners rated May 2026 1.6 (BMC) BELOW AVERAGE because students "preferred to copy the general description of the indicated elements from the study material"; January 2026 3.6 and 4.6 got the same comment.
2. Forex hedge decision: in every paper
A currency question came up in every paper, usually as "which hedge is best". May 2026 1.7 (5 marks) compared a forward hedge, a money market hedge and a forward hedge under a letter of credit for a €30,000 import payment. ICAI's answer: forward ₹31,20,000, money market ₹31,06,079, LC option ₹31,82,657, so the money market hedge wins. In September 2025 3.7 (6 marks), on a £2,50,000 export receivable, forward cover gave the highest inflow.
What wins marks: one line per method with the rate, the interest leg and the rupee figure, then one sentence choosing.
The trap: most students got the forward hedge right "but not under money market hedge and forward hedge under the LC option" (examiners, May 2026). And the answer carries forward: ICAI used the money market cost (₹31,06,079) as the machine's purchase price in the depreciation answer, 1.8. In September 2025 4.7 there was no direct rupee–naira quote; ICAI built a cross rate through the dollar first.
3. GST: ITC, valuation and notices
GST was set in every paper, twice in two of them. January 2026 had a show cause notice where tax, interest and penalty were already paid, plus the legal remedy (1.6, 6 marks), and the transaction value of machinery under section 15 read with rule 27 (4.7, 6 marks). May 2026 2.8 (6 marks) asked for advice on tax liability, ITC, interest and penalties. The RTP's airline case asks whether ITC on aircraft is blocked under section 17(5).
What wins marks: provision, case fact, conclusion, item by item.
The trap: stopping at half the question. In January 2026 1.6, the examiners said students "failed to answer the legal remedy available". Amendments count if "made upto 30.04.2026" (ICAI's RTP); see our CA Final IDT weightage post for where GST marks go in Paper 5.
4. Customs valuation and duty
May 2025 3.7 (7 marks) was the biggest descriptive part in that paper: the assessable value of imported machinery and the customs duty and IGST on it. September 2025 5.7 (5 marks) asked for duty and interest on removal of imported goods, and May 2026 opened case 1 with a customs and IGST MCQ.
What wins marks: a valuation table, one line per cost with a bracketed reason (includible or not). In ICAI's May 2025 answer, the licence fee paid as a condition of sale and the commission to the exporter's local agent went in; insurance, not known, was added at 1.125% of FOB value.
The trap: adding costs incurred after the goods reach India. ICAI left out unloading and handling at the Indian port and the warehouse charges, since only costs "to" the place of importation count.
5. Income-tax computation or note
Direct tax had two to four descriptive parts in every paper. May 2026 alone had depreciation (1.8), buy-back of shares (2.7), income-tax appeals (3.8) and TDS on lease rent (5.8). Buy-back also came in May 2025 4.8, TDS in September 2025 4.6, and depreciation with ICDS VI and section 43A in January 2026 5.8.
What wins marks: one adjustment per line, with the section beside it.
The trap: the case's side facts. ICAI's May 2026 1.8 answer took ₹1.40 crore of insurance money off the block, put in the insurer's replacement equipment at nil, and gave half-rate and additional depreciation on assets used under 180 days. The examiners rated it POOR. For Nov 2026, ICAI's RTP says direct tax as amended by the Finance Act, 2025 applies, assessment year 2026-27; the new Act comes in from May 2027 (Income Tax Act 2025 in CA Final).
6. Ind AS treatment, leases above all
Ind AS came up in every paper, and Ind AS 116 leases came up three times: September 2025 3.8 (a dollar lease and the right-of-use asset), May 2026 5.7 (exercising an extension option), and the RTP's sale-and-leaseback of ten aircraft. Others: impairment (May 2025 1.8), Ind AS 102 share options (January 2026 2.7) and deferred tax on an acquisition (May 2026 3.6).
What wins marks: the deciding paragraph, the computation, then the entry if asked.
The trap: stopping at the rule. May 2026 5.7 was rated POOR: students "failed to correctly explain the accounting treatment for the exercise of the extension option" and the entry. ICAI remeasured the liability at a revised discount rate. In May 2025 1.8, the impairment went to goodwill first.
7. Audit standard or ethics applied to the case
Every paper had an audit question that names, or expects, a specific SA. May 2026 4.7 asked how to accept and plan an audit of one element of the financial statements; September 2025 1.6 was opening balances of inventory; January 2026 1.7 asked for the auditor's certificate for an NCLT scheme; May 2025 4.7 and the RTP's case 2 deal with the report on consolidated financial statements.
What wins marks: the SA or section by number, then what the auditor does in this case.
The trap: generic answers. On May 2026 4.7 the examiners wrote that most answered "in a generalised manner" and "not in line with SA 800, SA 805, SA 200, SA 240, SA 550, SA 570 and SA 260." January 2026 1.7 was rated GOOD because students quoted section 230(7). SAs by weight: CA Final Audit weightage.
8. Costing decision
One costing question in every paper, from Strategic Cost and Performance Management: make or buy (May 2025 3.6), a profit reconciliation through marginal costing (September 2025 5.6), quality costs (January 2026 2.6), non-value-added activities (May 2026 2.6).
What wins marks: the number first, then a recommendation in the role the question gives you.
The trap: copying the case's data back. January 2026 2.6 was rated POOR: students "chose to copy the quality costs incurred as provided in the case study and copy the definition of quality costs as provided in the study material without answering the requirement of question."
9. Valuation and investment numbers
AFM-style numbers sit inside the cases too: a share price by the dividend growth and Walter's models (January 2026 1.8, 5 marks), cash flow after tax under three dollar scenarios for a foreign plant (May 2026 3.7, 6 marks), and an EVA analysis (May 2025 1.7).
The trap: stopping after the first scenario. In May 2026 3.7, most students got the cash flow for the current exchange rate "but not under scenario 2 and scenario 3", which "resulted into incorrect calculation of expected value".
10. The 2-mark MCQs
Each case opens with five 2-mark MCQs, 40% of the paper. Many give three or four statements and ask which combination is correct ("(i) and (iv)"); the RTP adds assertion–reason (1.4, on the Kano model).
The trap: forcing an option. In May 2026, ICAI's key for MCQ 3.4 reads "No Correct Option". Solve first, then match.
How to practise them
- One type at a time across all four papers, then the RTP case on it.
- Answer the case, not the chapter: every comment above punishes theory without case facts (ICAI examiners' comments: common mistakes).
ICAI's papers are on our CA Final past year question papers and CA Final RTP pages.
Important questions for other CA Final papers
- CA Final FR important questions: the Ind AS question types ICAI repeats
- CA Final AFM important questions: forex, derivatives, valuation and portfolio types
- CA Final Audit important questions: SAs, ethics and case-based audit types
- CA Final DT important questions: income-tax and international tax types
- CA Final IDT important questions: GST and customs question types
Frequently asked questions
What are the important questions for CA Final IBS Nov 2026?
On ICAI's last four papers: strategy frameworks applied to the case, forex hedges, GST, customs, income-tax computations, Ind AS (leases most of all), audit standards, costing decisions, valuation numbers and 2-mark MCQs.
Does ICAI repeat IBS questions?
Not the cases, but the types repeat. Across the four papers and the RTP, leases, 7S, forex hedges, buy-back, TDS and GST ITC each came up more than once.
Is the IBS RTP enough?
No. The Nov 2026 RTP has two cases; the last four papers had twenty. Use the RTP as two more cases.
Practise the ten types as full case papers
A full 4-hour paper shows which types still cost you marks. Our CA Final IBS mock tests are full case-study papers on ICAI's latest pattern, 100 marks in 4 hours, with every amendment applicable for November 2026 tested. They're part of our CA test series and CA mock tests for every CA Final paper.
You write by hand and upload one PDF. Your checked copy comes back within 24 hours, with ICAI-style step-wise marks and the reason for every mark cut, plus detailed suggested answers with provisions and working notes. You can read preview pages of the first mock before you buy. DT and IDT are covered the same way in our CA Final Group II mock tests.