Input tax credit

answered on 21-Sep-22 19:00

GST of 175000 was paid for the purchase of motor vehicles for the transportation of needy people ( seating capacity is 13 incl.driver )... This purchase was made by trust ... Whether ITC is allowed or not ?

latest answer

Tq sir

Sajeetha R

CA Final

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Blood relations

answered on 22-Sep-22 15:38

Why there will be no relation,if mithun is ram's brother?

latest answer

Yes. this is incorrect - will get it rectified soon. thanks for pointing out

Rupa Devi Akkala

CA Final

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577

Standard costing

answered on 21-Sep-22 17:05

In this problem, we are multiplying Actual number of workers employed with 40 hours to get Actual hours. Why can't we do the same for finding out standard hours? ( like 32*3.. 12*2...6*1) Instead we are doing bifurcation among the given 1800hrs..can anyone clarify?

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Thankyou sir

vs navin

CA Final

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Doubt on MCQ

answered on 21-Sep-22 15:11

What is the answers to these 2 questions ?

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both are options B.

sradha krishna sunil

CA Final

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606

Capital expenditure

answered on 21-Sep-22 13:25

1- how expense incurred by firm to sell fixed assets is recorded in the books of accounts ? 2- a firm incurred a cost to demolish its building to construct a new bigger building so does the expenses for demolishing is capital expenditure??

latest answer

Hello, 1. Usually you prepare a separate account called asset disposal A/c, debit the asset and expenses to it, Credit the accumulated depreciation and sales proceed to it and finally arrive at profit/loss from sale which will be transferred to P&L. 2. Yes, such expenses will form part of the cost of asset.

Atharv Sankliya

CA Final

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General

answered on 21-Sep-22 17:11

What is meant by cut throat competition

latest answer

Cut throat - literally means to cut throat. Killer competition! Something like you see between amazon and flipkart.

Krishnan K

CA Inter

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BCK

answered on 21-Sep-22 17:13

Who is a merchandiser ?

latest answer

Merchandising is any practice which contributes to the sale of products to a retail consumer. Merchandiser is a trader or shopkeeper.

sradha krishna sunil

CA Final

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454

Gratuity

answered on 21-Sep-22 15:09

Retirement gratuity received by members of defence service is fully exempt. For any others received during service is fully taxable. I am clear with provisions when received at the time of retirement/death. Am I right?

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you are welcome (���ө���)��

Swetha S

CA Inter

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579

INTRODUCTION

answered on 22-Sep-22 12:31

IS GST COMES UNDER CONCURRENT LIST ?

latest answer

Thats why I said it is like that.

Usilla Sandhya

US CMA All

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Economics for finance (CA inter)

answered on 21-Sep-22 14:47

What happened to the purchase of materials in illustration 12?

latest answer

Ah, got it. Thanks!

Vijayalakshmi Sekar

CA Inter

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