Forums
Doubt
Others
answered on 03-Sep-23 09:25
Sir how can I watch lectures in laptop and mobile
latest answer
watch on app on mobile & browser on laptop
sai t
CA Foundation
★ 2K+
4
403
Articleship commencement nov23
Exams
answered on 03-Sep-23 11:06
If a student clears inter g1 (nov23) and gets exemption in audit and fm&eco (nov23).. when will articleship commence.. whether after nov23 results or after may24 results
latest answer
Audit +FMSM
Sivaramakrishnan V
CA Inter
★ 170
3
440
Downloading of classes
Others
answered on 02-Sep-23 21:52
Is it possible to download the lectures on laptop ? Like the feature in the app.
latest answer
No
Enuguru Sai Nithin
CA Final
★ 78K+
1
417
Difference between statutory and recognized PF
Direct Taxation
answered on 02-Sep-23 21:05
PF deducted by public or private organization every month and depositing into PF account, is it a statutory pf or recognized pf?
latest answer
Generally statutory
SreeSree Vedu
CA Inter
★ 8K+
1
433
Leverage
Financial Management
answered on 03-Sep-23 13:44
Can anyone explain that interest part why pref div /1-tax rate is coming there ?
latest answer
thanks
Ganesh U
CA Final
★ 6K+
2
405
Cost accounting system
Costing
answered on 04-Sep-23 08:48
What does " administrative overhead allocated to production" mean? Also what is it journal entry and the logic behind it? Similarly administrative overhead allocated to sales department"
latest answer
Administrative overhead allocated to production means that portion of admin overhead related to production. This will be transferred to finished goods account. Balance will get transferred to cost of sales account. Entry for oh allocated to production would be Finished goods control ac ---- Dr To admin oh control ac ( logic is finished goods should absorb the cost) Entry for oh allocated to sales would be Cost of sales ac ---- Dr To admin oh control ac
Sujitha M
CA Inter
★ 1K+
3
470
QRMP scheme
Indirect Taxation
answered on 04-Sep-23 18:19
Mr. A purchased raw materials worth 10,00,000 rupees, exclusive of GST, with a GST rate of 18%, as inputs for his business from a suppliers who regularly files GST returns. Let's consider two scenarios: Case 1: Mr. B - Monthly Filer In this scenario, Mr. B is a monthly GST filer. Mr. A can claim an input tax credit of 1,80,000 rupees (10,00,000 * 18%) while filing his GSTR-3B for that specific month. This means that Mr. A can offset this credit against his GST liability for the same month, allowing him to benefit from the input tax credit promptly. Case 2: Mr. C - Quarterly Filer under QRMP Scheme (B2B invoices in IFF are not filed since it is optional) In this scenario, Mr. C is a quarterly GST filer operating under the QRMP (Quarterly Return Monthly Payment) scheme. Mr. C has chosen not to use the Invoice Furnishing Facility (IFF) for monthly invoice reporting. Here, Mr. A has to wait for three months before he can claim the input tax credit of 1,80,000 rupees (10,00,000 * 18%). This delay occurs because he files his GST returns on a quarterly basis and does not use the IFF for monthly invoice reporting. In this context, recipients may be less inclined to buy from Mr. C compared to Mr. B because recipients can claim input tax credit more promptly due to Mr B's monthly filing frequency. Question : Aside from the reduced compliance procedures under the QRMP scheme, what advantages or benefits does Mr. C enjoy, considering the possibility of potential sales loss?
latest answer
If supplier does not use IFF then recipient cannot claim ITC.
MOHAMMED THAYYAB
CA Final
★ 5
2
427
why should the recipient suffer on late filing of GSTR 1 by the supplier
Indirect Taxation
answered on 02-Sep-23 13:57
Hello sir, If GSTR 1 for April is filed by the supplier 1) within due date i.e 11th May - Input tax is credited to GSTR 2A and GSTR 2B of April 2) after due date i.e 15th May- Input tax is credited to GSTR 2B of May Recipient : In the 1st case recipient can claim credit of Input tax of April while filing GST 3B of April month but in the 2nd case he can claim while filing GSTR 3B of May month. my question is why should the recipient suffer on late filing of GSTR 1 by the supplier
latest answer
Sadly law doesn’t work on Logic 😅. Also to avoid fake input claims.
MOHAMMED THAYYAB
CA Final
★ 5
1
609
AS 5
Accountancy
answered on 02-Sep-23 15:47
the adoption of an accounting policy for events or transaction that differ in substance from previously occurring events --is not a change in accounting policy . pls explain . IT IS GIVEN IN ILL 4
latest answer
It basically means that if there are new type of transactions for which we are creating a new accounting policy- It is not called a change in accounting policy. For e.g earlier there is no policy of leave encashment. Now the company has introduced leave encashment policy. This is not a change in accounting policy.
Reetikaa R
CA Final
★ 7K+
1
365
Salary
Direct Taxation
answered on 05-Sep-23 20:24
In question 3 method for calculating taxable interest on personal loan is different from that in case of illustration 12......why??? Plaz explain
latest answer
For calculation of personal loan we need to calculate on the principal amount outstanding each month end .ok va.So in first case in each month end outstanding is different and in second case each month end outstanding is same . You can even follow the first case for second but in second case there is no principal repayment therefore the principal amount remains same
Rifhat Khan
CA Inter
★ 28K+
3
581