Forums
CARO Applicability
Auditing
answered on 28-Mar-25 17:59
1. The small company (pvt ltd) having borrowings> 1cr . Will CARO apply? 2. The non- small company where PUSC+R&S<1cr and borrowings< 1cr. Will CARO apply?
latest answer
To small companies CARO will not apply. Non small company but it should be a private company only. Then check with limits of PUC, reserves and surplus, total income and borrowing. Check with para 1 of CARO , you wil get clear understanding .
DIVYA S
CA Final
★ 60K+
1
265
Retrospective change- Impracticable scenerio's
Financial Reporting
answered on 26-Mar-25 11:52
Sir, do we need to give 3 Balance sheets even if we are applying the changes in the accounting policies prospectively (i.e., impracticable scenario in the application of retrospective)?
latest answer
No
Chaitanya Sai Gupta
CA Final
★ 4K+
1
396
Max refund in case of Inverted duty structure
Indirect Taxation
answered on 27-Mar-25 16:39
Why is Tax Payable on inverted rated supply of goods and services not multiplied with Net ITC/ ITC availed on inputs and input services? ICAI solution has 90000, if we multiply with the above. Please confirm which one to follow. Attached material solution(Illustration 6 of ICAI material) for your reference sir.
latest answer
We should multiply tax payable on inverted rated supply * Net ITC/ ITC on inputs and input services.
Raviteja Kusumanchi
Qualified CA
★ 42K+
1
559
Borr cost
Financial Reporting
answered on 26-Mar-25 09:52
Sir, if the asset only took 3 months to get constructed,it is not substantial period of time right?I dont understand why borrowing costs are capitalised,since its not a qulaifying asset...
latest answer
The question says construction continues. So the assumption is that it is not yet completed.
SANSKRITI BADRI 2111339
CA Final
★ 4K+
1
334
Lease Modification - Illustration 37
Financial Reporting
answered on 26-Mar-25 10:12
When the second part of the question i.e. the increase in the scope of the asset does not exist, will the modification be done for the revised discount rate at 7% which in turn will reduce the lease liability by Rs.4870?
latest answer
Yes
SANJITHA
CA Final
★ 1K+
1
262
Model test paper
Others
answered on 26-Mar-25 09:16
Is Institute released any model test papers like that where it is available Is that applicable for upcoming attempts
latest answer
Thank you so much
Sruthi sruthi
CA Final
★ 640
3
282
If the shares are lent to XYZ and XYZ has short the shares, the dividend was paid somewhere in between, how will Mr. A get the dividend?
AFM
answered on 26-Mar-25 15:47
If the shares are lent to XYZ and XYZ has short the shares, the dividend was paid somewhere in between, how will Mr. A get the dividend?
latest answer
Yes B reimburses ro A
Manu Jacob
CA Final
★ 6K+
4
327
Service Costing
Costing
answered on 26-Mar-25 14:29
Why have we taken 90% of the distance travelled?(See the WN of cost of diesel) Isn't 90% for capacity?
latest answer
Got it, thanks.
Sagar Kathuria
CA Final
★ 3K+
2
242
Mathematics of finance
Maths & Stats
answered on 27-Mar-25 10:10
how is the answer to the given question b?
latest answer
thank you sir
Asmita Kar
CA Final
★ 7K+
3
280
Time of supply
Indirect Taxation
answered on 27-Mar-25 16:36
Advance payment concept is if advance is more than rs1000 or up to rs1000 ?
latest answer
Advance tax payment is applicable if tax payable is 10,000 or more.
Sushmita Chowdhury
CA Inter
★ 2K+
1
289