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CA INTER FAST TRACK BATCH MAY 2025
Accountancy
answered on 09-Apr-25 17:08
01 Hrs : 11 min Sir, goods in transit no entry needed, But in this question we made a JE, can you explain it little more?
latest answer
We will pass entry since it has to be shown as inventory and payable in branch books. HO would have already recorded dispatch entry.
G K
CA Inter
★ 13K+
1
269
Tds tcs gst
Indirect Taxation
answered on 10-Apr-25 18:12
Why is answer invalid ?............
latest answer
If any service is covered in Section 9(5) then it is not covered under TCS since for the transactions covered in Section 9(5) ECO is liable to pay GST.
Sushmita Chowdhury
CA Inter
★ 2K+
1
190
Captail Budgeting
AFM
answered on 08-Apr-25 13:57
One problem I am not able to solve in capital budgeting. Is it printing mistake or I am making mistake in calculation I am not clear. Row marked in yellow I am not able to match the equation
latest answer
Numbers appear correct. What are your workings pls share them
swaminathan sundaram
CA Final
★ 110
1
175
Investment Property
Financial Reporting
answered on 25-Jul-25 11:56
If the building has 10 floors, in that first 5 floor is rented (operating lease) to its subsidiary company for business purpose and next 5 floor is occupied for its own business. Now, how we will classify first 5 floor rented to subsidiary company. Whether we will classify as Investment property or PPE.
latest answer
You also need to check sub lease accounting as per Ind AS 116.
Nivethithaa S
CA Final
★ 2K+
4
199
Eway bill
Indirect Taxation
answered on 10-Apr-25 18:12
Is that only registered person can generate Eway bill ?
latest answer
Even unregistered person can generate ewaybill by enrolling on the ewaybill portal.
Sushmita Chowdhury
CA Inter
★ 2K+
3
221
Contingency Period - consolidated period
Financial Reporting
answered on 08-Apr-25 09:55
Sir, consolidated profit in Q2 why should not we consider it as end of contingency Period & include it as part of diliutive EPS
latest answer
Its fine. We are here to resolve your doubts.
priyadharshini priya
CA Final
★ 2K+
2
177
Doubt in Clarification
Indirect Taxation
answered on 10-Apr-25 18:13
As you said that Inter state Supply of Goods by Distinct Person - GST won't apply on Conveyance of such Goods But what if Its an Intra State Supply eg karachi bakery Himayath nagar to Karachi bakery Charminar ? Do GST Apply on Conveyance ?
latest answer
Same logic ofcourse. If it is intra state then it is additional place of business and they are not regarded as distinct persons.
Mohammed Rizwan khan
CA Final
★ 510
1
186
Place of supply of goods
Indirect Taxation
answered on 10-Apr-25 18:15
You explain to me illustration no.8
latest answer
As per Section 10(1)(d), in case of assembly or installation POS shall be the place where goods are assembled or installed.
Nilesh Choudhary
CA Inter
★ 0
1
225
IND AS 37
Financial Reporting
answered on 07-Apr-25 19:24
Sir as explained if we can reliably compute a close estimating it shd be considered as liability, but in companies they will book it as provision for expenses at the month end, and reverse it in next month and book actual expenses,
latest answer
Provision is also a liability
R Yashwanth Kumar
CA Final
★ 87K+
1
178
IND AS 37
Financial Reporting
answered on 08-Apr-25 10:50
Sir the example provided that is Employee died in factory accident and conpany is obliged to pay compensation to legal heirs of employee comes under legislation or operation of law What is difference between both
latest answer
Legislation refers to laws that are explicitly enacted - Say for example the factory act. If the factory act requires payment of compensation - it is arising due to legislation. Operation of law - It’s how the law applies in a given situation , automatically. For e.g, if a person dies, the next heir get claim due to operation of law. Operation of law also is due to some established legislation.
R Yashwanth Kumar
CA Final
★ 87K+
1
163