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Actionable claims
Indirect Taxation
answered on 15-Mar-25 13:53
Value of exempt supply shall, NOT INCLUDE the value of activities or transactions specified in schedule III, EXCEPT those specified in paragraph 5 of the said schedule and supply of warehoused & consignee goods without clearance for home consumption. In schedule III, actionable claims is included. Where it specifies that other than betting, gambling, lottery, etc.,. According to sec 17(3), ITC is allowed for actionable claims. And ITC is not allowed for betting, gambling, lottery, etc.,. Whether my interpretation is correct sir?
latest answer
Okay sir, thank you!
Viveka R
CA Inter
★ 3K+
4
278
What if there is a retrospective impact of a revision in rights for preference shareholders
Financial Reporting
answered on 13-Mar-25 12:22
Dear sir, Please clarify the impact on EPS if a revision in rights for preference shareholders has a retrospective impact. Example: Initial terms- 10% Cumulative. Pref. Shares of 10 each Revised terms- 15% Cumulative. Pref. Shares of 10 each retrospectively, (OR) The company made a one-time adjustment (like a bonus payment) to compensate for past lower dividends or future loss (due to proposed lower revision), and routed it through reserves. (please consider these are exceptional cases to Section 43 and Section 55 of the Companies Act, 2013 as similar to Irredeemable pref. Shares)
latest answer
If preference shares are liability and if bonus is issued. This implies that the redemption value will be higher. You will need to account for modification as per Ind AS 109 and use EIR to account for interest expenses.
Chaitanya Sai Gupta
CA Final
★ 4K+
3
268
Payment of tax
Indirect Taxation
answered on 15-Mar-25 11:38
Supply 1/6, what is the last date to pay tax without interest 20/7 or 30/9
latest answer
Perfect.
Sushmita Chowdhury
CA Inter
★ 2K+
5
247
Unable to download this file
Financial Reporting
answered on 13-Mar-25 13:58
Unable to open class solutions FR file.
latest answer
Pls try on laptop/computer.
sandhya chitturi
CA Final
★ 3K+
1
229
CA final registration
Others
answered on 14-Mar-25 20:27
I've registered for CA final course on 11th February, books haven't arrived yet. Does the registration cost is inclusive for books cost also? Or should I buy it seperate in the cds portal sir? Kindly pls do reply
latest answer
Ok sir
Evangeline Rebecca D
CA Final
★ 2K+
7
220
Pgbp
Direct Taxation
answered on 13-Mar-25 10:15
Scientific asset purchased for 1lac, claimed 100% depreciation & sale for 1.5lac 50000 will be capital gain or pgbp
latest answer
1L is taxed under PGBP and 50K under CG.
Sushmita Chowdhury
CA Inter
★ 2K+
1
227
year 2
Financial Reporting
answered on 17-Mar-25 10:06
Sir in the year 2 in the finacnials of the holding we will consider the investment as zero only and not negative (1,50,000) right, we recgonise only to the extent of our share of interest, just that while solving we have mentioned the clsoing balance as -1,50,000 in year 2, for helping subsquent calulation purpose am i right ?
latest answer
Closing balance is Nil at end of year 2.
Hemachandra D
CA Final
★ 9K+
1
190
Bid/Ask
AFM
answered on 20-May-25 20:28
i did not understood the logic of taking ask rate in borrowing for CAD, what i was thinking was i am borrowing CAD, means selling USD, means bank buy USD, hence bid rate, what am i getting wrong
latest answer
Borrowing
Hrishikesh Pradhan
CA Final
★ 18K+
3
250
Cost of funds
AFM
answered on 12-Mar-25 17:33
Sir, not understood the logic of calculating cost of funds on the upfront premium paid, this means we are paying interest on the amount which we have paid to the bank. Could you please clarify this concept with the help of an example.
latest answer
Cof premium
Hrishikesh Pradhan
CA Final
★ 18K+
1
212
Spot rate
AFM
answered on 12-Mar-25 17:40
In sub question 3, why dont we use spot rate if now, and why spot rate of 1 year ago ?
latest answer
Exch rate
Hrishikesh Pradhan
CA Final
★ 18K+
1
212