PSLC

answered on 22-Jul-24 19:43

Is it legal to trade PSLC sir? X bank got that certificate by lending money to the priority sector what will Y bank use that certificate for in the 1st place?? It didn't lend enough money by getting that certificate from another bank How will it reach the limit sir?

latest answer

A bank which gives less loans to priority sector will buy that PSLC. It is legal.

Revathy N

CA Final

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1

54

PGBP

answered on 22-Jul-24 19:42

Additional depreciation u/s 32(1)(iia) backward area is applicable to us ? if yes we did not see the topic in videos, of course additional deprecation 20% on new assets is covered . I faced in RTP MAY-2020 paper while in practice.

latest answer

No it is not.

Anjaneyulu Goriparthi

CA Inter

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1

54

lecture 4 of registration chapter

answered on 15-Jul-24 13:40

as you have said in this video that supplies made by agent on behalf of principal shall be included in agent turnover so will this statement holds true in both the points 1) if agent supplies invoice in his own name 2) if agent supplies invoice in the principal's name

latest answer

Supplies made by agent will be included in the aggregate turnover of agent only when the transaction between principal to agent is being taxed i.e., when agent supplies in his own name. This is not written specifically but the interpretation is that way only.

Ansh Rajput

CA Inter

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50

PDF

answered on 15-Jul-24 00:03

Hi sir Where can I download this pdf related to clarifications in exemptions

latest answer

Thank you sir 🙏

singareddy vivek

CA Inter

★ 0

2

65

Input services

answered on 05-Jul-24 18:40

Why is input service not included in Total of denominator in this solution?

latest answer

Formula has been amended. The question you are referring to is Nov 2019 question. We are multiplying with Ratio of Net ITC/ ITC on inputs and input services since we are claiming credit only for inputs and not on both.

Priyanka Udeshi

CA Final

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5

67

Refund in case of ZRS

answered on 05-Jul-24 17:13

In case of Turnover of ZRS services in case exempt supplies under sec 89(4A/4B) are given should they be considered as a part of ZRS services turnover or not? In goods we exclude it. In case we include, would it be included or excluded from aggregate total turnover?

latest answer

In case of service, law is silent since Rule 89(4A) and (4B) deals with deemed export of goods and not services.

Priyanka Udeshi

CA Final

★ 14K+

1

60

time of supply

answered on 01-Jul-24 06:40

whts time of supply for approval for sale of goods for FCM for RCM

latest answer

In case of goods under FCM, date of payment is irrelevant for TOS

Sushmita Chowdhury

CA Inter

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7

80

charge

answered on 27-Jun-24 05:01

qsn = the details in the qsn are for Oct month....ITC are for other month (1st attachment) why in solution (i.e other attachment) it said upto 30/11 & why it said 22-23 ?

latest answer

this query is resolved

Sushmita Chowdhury

CA Inter

★ 715

2

74

Relating to inter state supply of different branch

answered on 19-Jun-24 17:25

If the head office in banglore transfers services of vehicle charges to hyderabad branch which of inter state supply of different registration. whether the GST is applicable in this case if so whether it is RCM or FCM (company dealing in courier business)

latest answer

It is supplies between distinct persons and shall be taxable as per Section 7(1)(C).

P.udaykumar Pasupulati

CA Inter

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64

Time of supply - Voucher

answered on 19-Jun-24 17:26

What if the Identifiable voucher is dated 01/01/2024 but the voucher is redeemed on 25th of February? As Due for payment is on 20/02/2024.

latest answer

Once the time of supply is determined, then the due date for payment of tax shall be 20th of next month. Thats it. No other option.

Priyanga K

CA Inter

★ 850

3

77