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Paper 6 Ca Final
Others
answered on 31-Dec-23 17:35
Sir How many Subjects it will comprises ? All it is case law bases MCQ know and is it kind of open book sir ?
latest answer
It will comprise of all subjects ( including self paced one) and it will be open book exam of 4 hours.
M Naresh
CA Final
★ 3K+
1
432
Composition scheme
Indirect Taxation
answered on 02-Jan-24 14:27
Can a person provide ONLY supply of other services (not restra service / goods / mixed supply) under composition scheme ?
latest answer
Tax rate would be 6 percent
Sushmita Chowdhury
CA Inter
★ 2K+
6
380
9(4) RCM
Indirect Taxation
answered on 02-Jan-24 14:28
1) capital goods are exempt from GST ? Isn’t this double taxation if CG and GST both implied on it 2) MrA is a land owner, gave land to promoter…..promoter pay consideration = RCM But then promoter incur construction expense (inward supply) to resell the flat then why can’t he claim ITC on such inward supply ?
latest answer
GST would apply only if consideration for sale of flat is received prior to OC. And moreover it is to be noted that Income Tax and GST implications are different.
Sushmita Chowdhury
CA Inter
★ 2K+
3
475
Composition scheme ECO
Indirect Taxation
answered on 02-Jan-24 14:30
3rd pt If it’s 9(5) service…person supplying is unregistered, still ECO pays tax on such supply Does that mean a person providing 9(5) services can’t opt for composition scheme ?
latest answer
If services is covered under Section 9(5) then ECO would be liable to pay GST. In such case there is no question of composition scheme. And also in case where person is supplying goods through ECO registration is mandatory
Sushmita Chowdhury
CA Inter
★ 2K+
3
465
Charge 9(5) eco
Indirect Taxation
answered on 02-Jan-24 14:31
Please explain the meaning of the highlight I knw it’s other than 9(5) but When will ECO be liable to claim ITC ..example would be helpful
latest answer
Amazon can take ITC on warehousing rent and other expenses if Amazon is liable to pay GST..
Sushmita Chowdhury
CA Inter
★ 2K+
1
425
9(5) ECO, charge
Indirect Taxation
answered on 02-Jan-24 14:32
Wow Momo sold food via Zomato to MrA Food price = ₹100 Commission = ₹10 Zomato will b liable to pay GST on ₹110 ? 9(5) provision apply on commission and food price both ? (Sorry if the eg is vague)
latest answer
Value of supply includes commission. In case of supply of food by restaurant through ECO then ECO is liable to pay GST
Sushmita Chowdhury
CA Inter
★ 2K+
3
576
Red Ink Interest on Bill of Exchange
Accountancy
answered on 02-Jan-24 15:58
Red ink interest is used if due date is falling after statement date. When red ink interest is calculated on bill receivable, whose due date is after statement date, we are debiting the debtor's account. If he pays on statement date, he should get a rebate for early payment, but we actually debited his account. Therefore he is paying extra How does this make sense? Could someone clear this doubt?
latest answer
He will pay on due date only.
Vishnu Muraleedharan
CA Final
★ 32K+
1
692
Query - Financial Instruments
Financial Reporting
answered on 30-Dec-23 16:33
Is Net Settlement means recognise only gain (100*10) not entire trasaction (100*110). Video Details Course: Financial Instruments - FR Module: Financial Instruments - Scope and Definitions Section: Scope - Exclusions
latest answer
IN net settlement, the parties pay or receive the net amount. In gross settlement, physical settlement of underlying happens and amount is paid for settlement. Gain will be same in both cases. You will learn more of this in AFM
Sai Krishna
CA Final
★ 250
1
354
Unable to find Loss on Sale
Accountancy
answered on 31-Dec-23 20:36
How do they arrive upon Loss on Sale of Furniture here? Are they assuming that the Fixed Asset Account is maintained on cost basis? It has not been mentioned anywhere if such an assumption is taken
latest answer
NPO
Vishnu Muraleedharan
CA Final
★ 32K+
3
528
M&A- post merger market price
AFM
answered on 31-Dec-23 19:39
Sir , same like how we computed post merger eps ie. Total earnings/revised shares ( 21.6/6.9) Can we do the same to get post merger Market price ( 30*600000 +14*180000 ) /6.9 ? rather than doing post merger Eps * Pe ratio. If I do so , the Mp is different from what it is calculated in video. we can't calculate like way I did Is it because of It's asked in question PE ratio of accquirer doesn't change ? ( so indirectly we will be applying pe ratio of accquirer to both cos ) , but in the way I did it ignores that ? Please explain this and correct me if am wrong. Video Details Course: Advanced Financial Management - AFM Module: Mergers, Acquisitions and Corporate Restructuring Section: Illustration # 10 - A Ltd & T Ltd
latest answer
Thank you sir.
Enuguru Sai Nithin
CA Final
★ 78K+
2
955