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In the Karachi bakery example, how is it a transfer?
Indirect Taxation
answered on 11-Feb-25 17:25
In the Karachi bakery example, how is it a transfer? In the definition it says in exchange for consideration. In this example what is the consideration? I am a little confused. Please explain.
latest answer
If there is stock transfer from one state to another state it is regarded as supply even though there is no consideration. Kindly refer Section 7(1)(c)
Manu Jacob
CA Final
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1
229
Subsidy
Direct Taxation
answered on 11-Feb-25 20:36
1. Why Subsidy Income is reduced from capital asset what is the reason behind it? 2. If we purchase 2 lakh machine and we also granted 2 lakh subsidy then can we show that we can't use any depritiation for that machine because we bought that from govt subsidy?
latest answer
Ok thank you
Snehashis Mohanty
CA Inter
★ 35
4
230
Economics
CFA
answered on 11-Feb-25 07:37
If a country impose tariff on its imports like US imposing on China and Mexico the companies that import goods will pass those extra cost to end consumers which increase inflation right?then how tariff helps the economy of a country
latest answer
Thank you sir
Dhakshana Dhakshana
CFA L2
★ 18K+
2
188
BONUS SHARE AND SCRIP DIVIDENDS
Financial Management
answered on 11-Feb-25 23:47
So basically, in SCRIP, we just hand over the extra dividend (special dividend) in the form of shares itself BUT unlike BONUS SHARES we are not converting our RE into Equity. Instead we are using the surplus profits and claiming it to the shareholders as extra shares so that they can get that extra dividends. Am I correct? Thank you :)
latest answer
So the SCRIP ISSUE is the one that is not similar to BONUS ISSUE? Because the PAT (and after preference dividends) the excess profit is issued right instead of conversion of Retained Earnings to Equity? I guess i did not type the SCRIP ISSUE in the previous ask. But i did understood that SCRIP DIVIDEND is BONUS SHARES. Thank you!
Nabeela Faisal
ACCA Skill
★ 0
2
240
Fixed income
CFA
answered on 11-Feb-25 07:31
In comparing the price volatility of putable bonds to that of option-free bonds, a putable bond will have: A) less price volatility at higher yields. Correct Answer B) less price volatility at low yields. Incorrect Answer C) more price volatility at higher yields. why A is not right putable bond is a benifit for the holder so it usuallyhave higher price and lower yield ?pls explain
latest answer
Put table bonds
Dhakshana Dhakshana
CFA L2
★ 18K+
1
231
Event organized outside India
Indirect Taxation
answered on 11-Feb-25 17:27
When the event is organized outside India, the place of supply is location of recipient if the recipient is an unregistered person. What is the place of supply if the recipient is a registered person sir?
latest answer
If recipient is RP then POS would be the place where he is registered.
Viveka R
CA Inter
★ 3K+
1
224
Basic concepts- Rebate 87A
Direct Taxation
answered on 11-Feb-25 17:29
In the example (Mr.A, resident individual with total income 7,15,000) of rebate under 87A for default tax regime(115BAC) , it is said, tax of 21,500 need not be paid for the mere crossing of total income of 7 lakh. Is this applicable to optional tax regime rebate also? (i.e, is tax to be paid for mere crossing of total income of 5 lakh)
latest answer
No. In optional this concept is not there.
Basil V Abraham
CA Inter
★ 3K+
2
279
Goods sent through transporter
Indirect Taxation
answered on 11-Feb-25 17:30
Sec 10(1)(a) states that, when there is movement of goods, the place of supply will be the place where the movement of goods terminates for delivery to recipient. Here, the place of supply will be, when the goods are *supplied by supplier to the recipient's place - location of recipient *Collected by recipient at the supplier's place - location of supplier What is the place of supply when the goods are sent via transporter (third person)?
latest answer
We will see where the risk and reward is transferred to recipient and the understanding between them.
Viveka R
CA Inter
★ 3K+
1
224
What if the recipient is registered?
Indirect Taxation
answered on 11-Feb-25 17:31
In case where the goods are purchased over the counter in another state and they are transported by the buyer to his own state, in that case, if the recipient is UNREGISTERED PERSON, *address mentioned in invoice, the place of supply will be location of recipient. *address not mentioned in invoice, the place of supply will be location of supplier. What if the recipient is REGISTERED in this scenario sir?
latest answer
If recipient is registered then we have to apply Section 10(1)(a) or 10(1)(b) or 10(1)(c) but not Section 10(1)(ca)
Viveka R
CA Inter
★ 3K+
1
206
Interest Cost
Financial Reporting
answered on 10-Feb-25 16:54
Sir the interest cost in this regard in Financials will be included in Employee Benefit Expenses or Finance Cost ?
latest answer
Finance cost
Hemachandra D
CA Final
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1
207