Forums
ITC
Indirect Taxation
answered on 22-Mar-21 16:30
Why is ITC not available for capital goods in this case?
latest answer
Section 18(1)(d) which states " The registered shall also be eligible to take Credit on capital goods exclusively used for such exempt Supply. Credit on capital goods shall be reduced by 5% for every quarter or part thereof, from the date of issue of invoice for the capital goods" But in the present case Babla Enterprises is an unregistered person..... and sec 18(1)(d) is only for registered persons.
Priyanka Udeshi
CFA L1
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4
631
Competition
Economics
answered on 19-Mar-21 16:46
Can anyone explain this?
latest answer
Understood very clearly thank you sir :)
Meda Jeevansai
CA Final
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5
702
Audit of items of financial statements
Auditing
answered on 19-Mar-21 10:33
Is it necessary to be thorough with all disclosures with respect to this chapter sir?
latest answer
Yes
Mrulani Aravind
CA Inter
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1
638
REDEMPTION OF PREFERENCE SHARES
Accountancy
answered on 18-Mar-21 17:23
If shares are not fully paid up, company will redeem shares only when it is fully paid up but while forfeiting the shares they cancel it instead of reissuing since the redemption due in near future.......why does the same forfeiting concept does not apply when the shares are not fully paid up??
latest answer
It may so happen that company itself has not called up part money and hence, shares are not fully paid up. So, law says all calls must be made up and shares fully paid up before redemption. In case of forfeiture, it's the shareholder's default and hence shares are forfeited and cancelled.
GOKULA LAKSHMI
CA Final
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2
684
Doubt
Others
answered on 19-Mar-21 16:55
Sir I am getting an error while placing order in CDs portal
latest answer
It's was showing that order was fail but after few minutes got successful message sir Thank you sir
sai t
CA Foundation
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2
549
Written Representations SA 580
Auditing
answered on 19-Mar-21 10:59
Sir/ma'am I'm not able to interpret this sentence! How should I understand this?
latest answer
Thank you mam I understood
Bliss Full
CA Inter
★ 580
2
892
Starting trouble
Auditing
answered on 18-Mar-21 17:15
Studying audit and assurance before law is possible ? Please suggest me with what subject I should start
latest answer
Thank u sir
venkatesh sundharamoorthy
CA Final
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2
712
Free resources
Direct Taxation
answered on 18-Mar-21 14:43
Are there solutions for illustrations in free resources tab for direct taxes?
latest answer
Solutions are in the videos
Laasya kandan
CA Final
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2
2K+
Sec -45(3) -Transfer of Capital Asset to Firm
Direct Taxation
answered on 18-Mar-21 10:18
My doubt here is 1. If the Capital asset is given on rental basis and he is one of the partner then will it be considered under the head Income from House property? 2. Will the Rental / lease deed is also considered as transfer?
latest answer
If given on rent, then its house property. But rental deed is not transfer as rights in the property are not transferred
sai krishna teja
CA Inter
★ 940
1
602
Substantive procedures
Auditing
answered on 18-Mar-21 10:53
Sir, If the substantive procedures are performed after the assessment of risk, Then will that risk be considered, while designing and performing substantive procedures. The pictures I attached with this query seem contrary to me Kindly guide
latest answer
Thank you madam
Bliss Full
CA Inter
★ 580
3
906