Forums
Aggregate turnover
Indirect Taxation
answered on 29-Nov-21 10:00
In schedule 3 its said that transactions between related parties are treated as supply even if it is without consideration.But while calculating Aggregate turnover the same is not taken.why is that so
latest answer
Are you referring to Schedule III or Schedule I Schedule I has ACTIVITIES TO BE TREATED AS SUPPLY EVEN IF MADE WITHOUT CONSIDERATION under which point 2 has "Supply of goods or services or both between related persons or between distinct persons as specified in section 25, when made in the course or furtherance of business" As per section 2(6) of CGST Act 2017, â??Aggregate Turnoverâ?? means the aggregate value of all taxable supplies (excluding the value of inward supplies on which tax is payable on reverse charge basis), exempt supplies, export of goods or services or both and interstate supplies of persons having the same PAN to be computed on all India basis but excludes (CGST,SGST,UTT,IGST,CESS). Once its (import of services without consideration) included in taxable supplies, it will be part of aggregate turnover Activities or transactions specified in Schedule III (Activities or Transactions which shall be treated neither as a Supply of Goods nor a Supply of Services) of CGST Act are to be treated as neither good nor services and turnover of these will not be includible in â??aggregate turnoverâ??.
Fathima _
CA Inter
★ 2K+
4
579
Advanced Accounting - Amalgamation
Accountancy
answered on 29-Nov-21 21:35
In purchase method, the purchase consideration should be matched with Net Assets (Total assets - outsider liabilities). If we pay more than net assets then the excess amount will be transferred to goodwill, if we pay less than net assets then the difference amount will be credited to Capital Reserve. In Merger method, how should we deal with purchase consideration ? How to adjust reserves and surplus? Please clear my doubt with the help of illustration 9 of Amalgamation Pg. no 203
latest answer
Hello geethika can you please help me with partnership question that i posted recently
Pardhu surendra
CA Final
★ 5
13
1K+
Income from house property
Direct Taxation
answered on 28-Nov-21 16:05
As per the provision of section 27 said that annual value of the property of each co-owner will be null. But below attached to the question in book material they calculate the net annual value of the co-owner how ?
latest answer
Thank you bro ,I misunderstood it
Subash Chandrabose
CA Final
★ 32K+
4
619
Differential & integral calculus
Maths & Stats
answered on 29-Nov-21 17:41
Which will be right option ????
latest answer
Thank you sir
Savaliya Armi
CA Inter
★ 27K+
2
559
Income from house property
Direct Taxation
answered on 28-Nov-21 14:04
Doubt in below attached question in the book material: Provision in section 24 said actual interest payable in aggregate for one or two self occupied property is subject to maximum of 30,000, where the property has been constructed repaired renewed or reconstruction with borrowed capital . But below given the question in the material book they allow the deduction in respect of let out property deduction 55000 instead of30000 . how could this be possible sir
latest answer
Ok I understand
Subash Chandrabose
CA Final
★ 32K+
3
561
Memorandum reconciliation statement
Costing
answered on 29-Nov-21 10:54
In this sum why we are not taking selling expenses amt
latest answer
It is already considered while calculating profit as per cost accounts.
Raashi 14
CMA Inter
★ 330
1
709
Blocked Credit
Indirect Taxation
answered on 30-Nov-21 15:34
A Vehicle with 2 wheel which have 25cc engine. ITC is blocked or not?Need explanation
latest answer
If itâ??s not covered in definition of motor vehicle then ITC is allowed.
Nirmal K P
CA Final
★ 9K+
7
590
A.P
Maths & Stats
answered on 28-Nov-21 10:52
A.P
latest answer
If the numbers are to be divisible by 4 and 5, they must be divisible by 20. First term is 100 and common diff is 20
Jeshma
CA Inter
★ 6K+
1
465
EXAM
Information Systems
answered on 28-Nov-21 10:53
In eis, if i write correct heading and wrong explanation, will i get mark for the heading?
latest answer
You may get some marks.
Rocky Girl .:.
CA Inter
★ 195
3
449
Petroleum products outside the purview of gst
Indirect Taxation
answered on 29-Nov-21 10:26
Then why Sir there are many strikes for petrol hike All are telling that petrol price has been increased because of GST only All other countries petrol prices very low but in India the petrol prices higher because of tax Why sir petrol prices are higher in India?
latest answer
Thank you so much sir
Sri Bhawin
CA Inter
★ 20K+
7
521