Law Question for Today:- Sapan and Sanjay made a name reservation application accompanied by requisite fee to the Registrar for
forming a new private company. The Registrar accorded its approval for reservation of most preferred name
Sapanjay Softwares Private Ltd. on 6th July, 2018. In how many days, necessary documents for incorporation of
the company must be submitted to the Registrar so that the reserved name does not get lapsed.
a) Within 10 days from the date of approval
b) Within 20 days from the date of approval
c) Within 45 days from the date of approval
d) Within 60 days from the date of approval

2nd GST Question for Today:- Determine the cases in which ITC will not be available amongst the following
(i) A software professional providing technical consultancy buys a motorcycle for use of his employee.
(ii) A motor driving school buys a car for being used in imparting motor driving training.
(iii) A flying school imports an aircraft for use in its training activity.
(iv) A manufacturer buys a small truck for the purpose of transporting its inputs and finished goods.
Input tax credit cannot be taken on:
(a) (iii)
(b) (i), (ii), (iii), (iv)
(c) (i)
(d) (i), (iii)

2nd Law Question for Today:- Extra Limited is a growing Company and requires additional funds for expansion from time to time. They are following the same process for making an offer to public and then issue those shares. This is very time and energy consuming for them. Kindly advise them if there is any way out.
a) During first offer they shall file prospectus with a validity on one year, so subsequent offer issued during the
period of validity of that prospectus, no further prospectus is required;
b) During first offer they shall file prospectus with a validity on two years, so subsequent offer issued during
the period of validity of that prospectus, no further prospectus is required;
c) During first offer they shall file shelf prospectus with a validity on one year, so subsequent offer issued
during the period of validity of that prospectus, no further prospectus is required;
d) During first offer they shall file shelf prospectus with a validity on two years, so subsequent offer issued
during the period of validity of that prospectus, no further prospectus is required;

GST Question for Today:- In case of Voluntary registration input tax credit can be availed
(a) on stocks held on the day immediately preceding the date from which he becomes liable to pay tax under the provisions of this Act
(b) on stocks held on the day immediately preceding the date of grant of registration under the provisions of this Act.
(c) on stocks held on the day immediately preceding the date of application of registration under the provisions of this Act.
(d) None of the above

Law Question for Today:- A Company limited by shares can issue equity shares with differential voting rights. Which of the following is not
a necessary condition to be fulfilled before issue of such shares:
a) The articles of association of the company shall authorize issue of shares with differential rights;
b) The issue of shares shall be authorized by an ordinary resolution passed at a general meeting of the
shareholders;
c) The issue of shares shall be authorized by special resolution passed at a general meeting of the
shareholders;
d) The company shall have consistent track record of distributable profits for the last three years;

2nd GST Question for Today:- Mr. A placed an order with Mr. B of 20,000 pcs on 1st January 2023 and the same order is to be received on last day of every month i.e. 2,000 pcs per month shall be received in next 10 months. When can Mr. A can avail ITC?
a. 28th February, 2023
b. 31st October, 2023
c. 31st March, 2023
d. Proportionately with receipt of every instalment

2nd Law Question for Today:- The Annual General meeting of Tirupati Limited was scheduled for 28th December, 2017.Mr. Ananat, shareholder of Tirupati Limited has desired to inspect inspection of proxies lodged with the company. The notice
for inspection should be given at least ………. Before the meeting:
a) 24 hours
b) 1 day
c) 2 days
d) 3 days

GST Question for Today:- Mr. Shubham has purchased a new refrigerator (to be used in kitchen of his office for use by his employees) for Rs. 2,50,000 (plus GST of Rs. 30,000) on 25th May 2023. He has estimated its useful life to be 5 years and hence he has decided to charge 20% depreciation each year on straight line basis. Which of the following statements is correct about availment of ITC:-
a) He should avail ITC of Rs. 500 each month so that he can claim ITC over a period of 36 months
b) He can avail entire ITC of Rs. 30,000 in May 2023 itself, irrespective of how depreciation is charged in books of accounts
c) He is not allowed any ITC since refrigerator is not used in course and furtherance of business
d) He is not allowed any ITC since it is specifically restricted under section 17(5)

Law Question for Today:- Excellent Art Private Limited, has a paid up capital of Rs.50 crore, Turnover of Rs.25 crore and borrowing of
Rs.25 crore and outstanding deposits of Rs.30 crore. Decide if the Company needs to comply with internal audit
requirements under the Act?
a) No. The provisions of Internal audit are not applicable on private companies.
b) Yes. Company is having Paid up capital of Rs.50 Crore and outstanding deposits more than Rs.25crore.
c) No. Because the borrowings are less than Rs.100 crore and Turnover is less than Rs.200 crore
d) None of the above