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TIME OF SUPPLY
Indirect Taxation
answered on 09-May-22 11:21
Ms. Pearl is a classical singer. She wants to organize a classical singing function, so she booked an auditorium on 10th August for a total amount of â?¹ 20,000. She paid â?¹ 5,000 as advance on that day. The classical singing function was organized on 10th October. The auditorium owner issued invoice to Ms. Pearl on 25th November amounting to â?¹ 20,000. Pearl made balance payment of â?¹ 15,000 on 30th November. Determine the time of supply in this case. - (a) Time of supply is 25th November for â?¹ 20,000. (b) Time of supply is 25th November for â?¹ 5,000 & 30th November for â?¹ 15,000. (c) Time of supply is 10th August for â?¹ 5,000 & 10th October for â?¹ 15,000. (d) Time of supply is 10th October for â?¹ 20,000. What is the answer sir
latest answer
Option C
Subash Chandrabose
CA Final
★ 32K+
3
2K+
illustrations
Accountancy
answered on 01-May-22 17:16
Please explain below Two illustrations
latest answer
Under FIFO(first in first out) method the inventory will be issued to production in the order they are purchased. So unless the opening stock of a particular period is issued to production the subsequent purchases will not be issued. Under Weighted Average Method of valuation the issue price of the inventory will be calculated by dividing sum of products of price and quantity by total number of quantities available. And so the sequence of purchase becomes immaterial.
N K
CA Inter
★ 5
3
425
illustration
Accountancy
answered on 05-May-22 18:00
Please explain below illustration
latest answer
This is already solved in class. If Actual Production > Budgeted Production - COmputed REvised Overhead Recovery Rate.
N K
CA Inter
★ 5
3
351
Sec 206C(1H) and sec 194Q
Direct Taxation
answered on 02-May-22 09:28
In case of a transaction to which both section 206C(1H) and section 194Q applies, then which will be followed
latest answer
Thankyou
PRANAV K P
CA Final
★ 2K+
3
514
Partnership,death of partner
Accountancy
answered on 03-May-22 20:25
So here sir had done the problem as no profit and loss account is prepared as on death but in study mat they have considered the revalued asset value for which the calculation are different from those of lectures and those from study mat. So what we should follow
latest answer
Okay sir, Thank You.
Sugam SM
CA Final
★ 9K+
8
623
Budget
Costing
answered on 01-May-22 19:44
Can someone pls explain me how to get the power? In this problem
latest answer
Total power cost of Rs. 42,00,000 is given in question for 7,00,000 units, so per unit of power cost is 4200000/700000 i.e. Rs.6
Be The Change
CA Inter
★ 11K+
3
474
Indigolearn study material
Auditing
answered on 02-May-22 08:16
Is it is enough to study indigolearn study material for exam point of view. Especially for audit of different entity and audit of FS chapter
latest answer
Yes
Ranjith Kumar
CA Final
★ 1K+
9
566
Mcq salaries
Direct Taxation
answered on 01-May-22 19:16
In this case jagat daughter getting education by bhart ltd owned institutions. Getting education from owned institutions of ER is taxable only in the hands of specified EE only. Then why in this mcq it was treated as perk even though he is not an specified EE ?.
latest answer
Yes income under the head 'Salaries' (whether due from, or paid or allowed by, one or more employers), exclusive of the value of all benefits or amenities not provided for by way of monetary payment, exceeds Rs. 50,000. is considered for specified employee Income, for this purpose, shall include all taxable monetary payments like .. basic salary, dearness allowance, bonus, commission, taxable allowances/perquisites but shall not include the value of any non-monetary benefits/perquisites. Monetary salary includes any perquisites received in cash or in monetary form.
Balaji R
CA Final
★ 20K+
4
671
Depreciation us 32
Direct Taxation
answered on 01-May-22 19:26
Is depreciation u/s32 is allowed only for the asset which are buyed as per sec 40A(3) { buyed by other than cash and bearer cheque or if cash upto 10000 } ? If yes please state in which section it was stated And the mcq also solved like this and ans for that mcq is 3000
latest answer
Thank you mam
Balaji R
CA Final
★ 20K+
6
549
How is operating expenses arrived at in the following question
Financial Management
answered on 01-May-22 11:37
I understand all parts of the question, but I am not able to find any way to arrive at the operating expenses.
latest answer
Thank u so much. I got it now
Ramacharana B
CA Final
★ 2K+
3
478