Law Question for Today:- A bill of exchange is payable 180 days after sight. As per the provisions of the Negotiable Instruments Act, 1881,
how many days of grace shall be provided in such a case:
a) 1 day
b) 2 days
c) 3 days
d) 5 days

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Income Tax Question for Today:- Mr. Vikas received a gold ring worth Rs. 60,000 on the occasion of his daughter’s wedding from his best friend Mr. Vishnu. Mr. Vishnu also gifted a gold chain to Kavya, daughter of Mr. Vikas, worth Rs. 80,000 on the said occasion. Would such gifts be taxable in the hands of Mr. Vikas and Ms. Kavya?
(a) Yes, the gift of gold ring and gold chain is taxable in the hands of Mr. Vikas and Ms. Kavya, respectively
(b) Such gifts are not taxable in the hands of Mr. Vikas nor in the hands of Ms. Kavya
(c) Value of gold ring is taxable in the hands of Mr. Vikas but value of gold chain is not taxable in the hands of Ms. Kavya
(d) Value of gold chain is taxable in the hands of Ms. Kavya but value of gold ring is not taxable in the hands of Mr. Vikas

Law Question for Today:- When there is a conflict between two or more statute or two or more parts of a statute and both of them need
to be honoured, then which rule of interpretation is to be applied
a) Rule of Harmonious construction
b) Rule of Literal construction
c) Rule of Beneficial construction
d) Rule of exceptional construction

GST Question for Today:- M/s. Vishu Megamart, operating a store located and registered in Rajasthan, has come out with big discount offers at the time of Diwali on various gift items. In order to attract more customers, it has decided to supply a gift pack containing 5 packets of Haldiram’s Namkeen (200 gram each) taxable @ 12%, 1 packet of Roasted Smoked Almonds (100 gram) taxable @ 18%, 1 packet of Bournville Chocolate (50 mg) taxable @ 28% and 1 bottle of Real Fresh Juice (1 litre) taxable @ 18% in a single basket for a single price of Rs. 1,000/. State the type of supply and the tax rate applicable on the same.
a) Composite supply; Tax rate of the principal item, i.e. Namkeen @18%
b) Composite supply; Highest tax rate out of all items, i.e. 28% applicable to chocolates
c) Mixed supply; Tax rate of principal item, i.e. Namkeen @18%
d) Mixed supply; Highest tax rate out of all items, i.e. 28% applicable to chocolates

Law Question for Today:- High Aim Pvt. Ltd. wants to change its object clause of the Memorandum of Association of the Company. The needs:
a) Shareholders approval by way of Ordinary Resolution
b) Shareholders approval is not required for change of object clause of the company.
c) Shareholders approval by way of Special Resolution
d) The approval from Tribunal for changing object clause of the company.

GST Question for Today:- Mr. Avishkar is a painter registered under GST in Delhi. He sends his artwork for exhibition in Mumbai. At what point of time, supply is considered to have been made under GST?
(a) When painting is completed.
(b) When painting is sent for exhibition in Mumbai.
(c) When painting is displayed at the exhibition in Mumbai.
(d) When painting is purchased by one of the visitors in the exhibition

Law Question for Today:- Morgan Limited decided to make an offer for purchase of securities. Application Forms for the purchase were
issued to public. However, it was not accompanied by an abridged prospectus. For this default Company is liable
for penalty. How much penalty Company has to bear?
a) Rs. 25,000
b) Rs. 50,000
c) Rs. 100,000
d) Rs. 500,000

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GST Question for Today:- Mr. Dev Anand is engaged in providing services of facilitating sale and purchase of securities to various clients. He is also engaged in trading of securities. His turnover details are as follows:
Trading of securities Rs. 40,00,000/-
Brokerage on account of facilitating transactions in securities Rs. 30,00,000/-
You are required to ascertain aggregate turnover of Mr. Dev Anand under GST:
(a) Rs.30,00,000/-
(b) Rs.40,00,000/-
(c) Rs. 70,00,000/-
(d) Rs.NIL.