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Exemption entry no 55
Indirect Taxation
answered on 18-Oct-22 13:24
Milling of paddy into rice not covered under entry 55,hence its taxable. It means paddy/rice husk is taxable.. Am I right?
latest answer
Yes right.
Mansha Tutlani
CA Final
★ 555
3
458
Law
Corporate & Other Laws
answered on 15-Oct-22 02:35
What is difference between wagering and contingent contract ?
latest answer
If more than 2 sub then first syllabus completion should be priority. If 2 subjects are well versed then revise those and prepare for other 2 sub simultaneously.
Sai G
CA Inter
★ 6K+
13
608
RELEVANCE OF AUDIT EVIDENCE
Auditing
answered on 14-Oct-22 12:25
Please explain the reason for that example (arrow marked)
latest answer
For over statement of accounts payable value or existence testing of acounts payable is sufficient audit procedure but for Understatement of accounts payable's value or existence testing of audit procedure is not relevant( it can't be sufficient app audit procedure)it is relevant when testing of unpaid invoices supplier statement is relevant audit procedure.. .. Understatement can be of two types. One recording less amount - here testing is relevant. Not recording at all - This cannot be identified by testing the amounts recorded.
Balaji R
CA Final
★ 20K+
4
589
Credit/debit note
Indirect Taxation
answered on 14-Oct-22 12:09
Can a credit note/debit note be issued by a recipient and file in gst return?
latest answer
Thank you
Gokul Nath
CA Inter
★ 605
2
487
Nil rate of tax
Indirect Taxation
answered on 14-Oct-22 11:52
What are the items covered under nil rate of tax ? And ITC of these goods are allowed or not?
latest answer
Nil rate refers to those items where the tax rate is Zero. Example: Milk, vegetables, fruits etc. In case of nil rated, no ITC is allowed since nil rated is covered under exempt supplies.
Mansha Tutlani
CA Final
★ 555
2
492
Sec 17(2)(vii) ( taxable perquisite)
Direct Taxation
answered on 14-Oct-22 12:36
It is given in the section that employer contribution towards RPF,NPS, Approved superannuation fund in excess of â?¹7.5 lakhs is taxable in the hands of employee. Is the above limit of â?¹7.5 lakhs available per fund or aggregately 7.5 lakhs for all the three funds?
latest answer
Aggregate
angeeth anannndan
CA Final
★ 1K+
1
831
Bonus shares Sec 63
Corporate & Other Laws
answered on 14-Oct-22 10:30
Can bonus issue of equity shares happen when there are partly paid up preference shares existing on the date of allotment?
latest answer
Yes
Sibi Srinivasan
CA Final
★ 22K+
1
381
Amalgamation
Accountancy
answered on 14-Oct-22 17:33
Can anyone explain why they are Crediting capital reserve in 1 and 2nd entry?
latest answer
okok, Got it, thanks
theee k
CA Final
★ 435
2
600
TDS - S. 192(5)
Direct Taxation
answered on 17-Oct-22 10:13
Who is "trustee" mentioned in this provision?
latest answer
Follow all videos and learn concepts Solve all illustrations solved by sir and understand. Then solve past paper, MTPs and RTPs based on concepts learnt
Girinath A
CA Inter
★ 765
5
505
Definition
Accountancy
answered on 14-Oct-22 13:22
What is mean by geographical area
latest answer
"that represents a separate major line of business or geographical area of operations;" This part of definition is important.
sasidhar cheboyina
CA Final
★ 100
6
460