Hi all
Income Tax Test Series would start from today i.e. 11th April 2022
First Test of first 4 chapters would be uploaded on our app 'CA Knowledge portal' at 2:30 pm.
Income Tax Test Series would start from today i.e. 11th April 2022
First Test of first 4 chapters would be uploaded on our app 'CA Knowledge portal' at 2:30 pm.
Hi all
From 2moro, Should we starting posting GST MCQs in this group everyday in Poll/Quiz form so that you can keep evaluating your performance.
Are you ready for the quiz ??
From 2moro, Should we starting posting GST MCQs in this group everyday in Poll/Quiz form so that you can keep evaluating your performance.
Are you ready for the quiz ??
Anonymous Poll
86%
Yes sir, Bring it on..!!
14%
No, abhi GST ki preparation start hi nahi ki
Here are the links for Corporate and Other Laws marathon
Part 1(Other Laws)
https://youtu.be/CBsYUki7rLQPart
Part 2(Companies Act)
https://youtu.be/YUbGbii2G08Join
Part 3(Companies Act)
https://youtu.be/ZunvdhPe6Hw
Part 1(Other Laws)
https://youtu.be/CBsYUki7rLQPart
Part 2(Companies Act)
https://youtu.be/YUbGbii2G08Join
Part 3(Companies Act)
https://youtu.be/ZunvdhPe6Hw
YouTube
CA Inter| Corporate & Other Laws Marathon-Part 1 by CA Sahil Grover
#cainter #cainterlaw #corporatelaw
Test series details
https://youtu.be/nIsKyXIossw
Procedure for joining Test Series
https://drive.google.com/file/d/1OIRPBRGI2SSQEVinRyc73XZpLwQzCmX3/view?usp=drivesdk
Timetable for CA Inter Grp-1 Test
https://drive.…
Test series details
https://youtu.be/nIsKyXIossw
Procedure for joining Test Series
https://drive.google.com/file/d/1OIRPBRGI2SSQEVinRyc73XZpLwQzCmX3/view?usp=drivesdk
Timetable for CA Inter Grp-1 Test
https://drive.…
Your GST question for today...Read the question carefully before answering
Sorry i realized that the options in the answer were not clearly visible
Posting it again
Posting it again
GST Question for Today:- Mr. X has output tax liability of IGST Rs. 50,000 for the month of August 2021. He has unutilized ITC ofRs. 15,000 IGST, Rs. 30,000 CGST and Rs. 35,000 SGST available in his credit ledger. Which should be the correct mechanism of adjustment for Mr. X:-
a) He should first adjust Rs. 15,000 IGST credit and thereafter Rs. 35,000 SGST credit. Balance Rs. 30,000 CGST credit should be carried forward
b) He should first adjust Rs. 15,000 IGST credit and thereafter Rs. 30,000 CGST credit and then Rs. 5000 SGST credit. Balance Rs. 30,000 SGST credit can be carried forward.
c) He is compulsarily required to adjust Rs. 15,000 IGST credit first. Thereafter for the balance Rs. 35,000, it is his option either to use CGST credit or SGST credit
d) Any of the three credits – IGST, CGST or SGST may be utilized in any order, as per the will of Mr. X
a) He should first adjust Rs. 15,000 IGST credit and thereafter Rs. 35,000 SGST credit. Balance Rs. 30,000 CGST credit should be carried forward
b) He should first adjust Rs. 15,000 IGST credit and thereafter Rs. 30,000 CGST credit and then Rs. 5000 SGST credit. Balance Rs. 30,000 SGST credit can be carried forward.
c) He is compulsarily required to adjust Rs. 15,000 IGST credit first. Thereafter for the balance Rs. 35,000, it is his option either to use CGST credit or SGST credit
d) Any of the three credits – IGST, CGST or SGST may be utilized in any order, as per the will of Mr. X
The correct answer to above question would be (b). In respect of IGST liability, first we need to use Igst credit and if both excess CGST and SGST credit are available, we need to give priority to CGST credit for utilization against IGST liability
GST Question for Today:- Mr. X (whose aggregate turnover in preceeding FY exceeds Rs. 5 Crore) has an output tax liability of Rs. 1,00,000 for the month of April 2021. He has also claimed ITC of Rs. 60,000 for the same month. Mr. X filed his GSTR-3B on 2nd June 2021 and discharged the remaining Rs. 40,000 through cash ledger. Which of the following statements is true with regard to interest u/s 50
a) Interest is charged @18% on Rs. 40,000 from 21st May till 2nd June
b) Interest is charged @18% on Rs. 1,00,000 from 21st May till 2nd June
c) Interest is charged @18% on Rs. 40,000 from 1st May till 2nd June
d) Interest is charged @18% on Rs. 1,00,000 from 1st May till 2nd June
a) Interest is charged @18% on Rs. 40,000 from 21st May till 2nd June
b) Interest is charged @18% on Rs. 1,00,000 from 21st May till 2nd June
c) Interest is charged @18% on Rs. 40,000 from 1st May till 2nd June
d) Interest is charged @18% on Rs. 1,00,000 from 1st May till 2nd June
For the Students who had got Flowcharts book in Dec 21 attempt, 3 chapters were not included since flowcharts of those chapters were not prepared then.
Hence sharing flowcharts of PGBP, Capital Gain and Gift in soft copies for benefit of all
Hence sharing flowcharts of PGBP, Capital Gain and Gift in soft copies for benefit of all
The correct answer to above question would be (a). Sec 50 provides that in case of delayed payment of GST liability, Interest shall be chargeable on Net tax liability if such tax liability has been disclosed in the return before initiation of proceedings u/s 73 and 74
GST Question for Today:- Kidzee Ltd., a wholesaler of toys registered in Chandigarh, is renowned in the local market for the varieties of toys and their reasonable prices. Kidzee Ltd. makes supply of 100 pieces of baby’s learning laptops and chat learning phones to Nancy General Store on 25th September, 20XX by issuing a tax invoice amounting to Rs. 1,00,000. However, the said toys were returned by Nancy General Store on 30th September, 20XX. Which document Kidzee Ltd. is required to issue in such a case?
(a) Debit Note
(b) Refund voucher
(c) Credit note
(d) Payment voucher
(a) Debit Note
(b) Refund voucher
(c) Credit note
(d) Payment voucher