Forwarded from CA Amit Jain
On student request... Polling here... Make sure maximum participate to help me to take decision..
Whether you think Institute is going to conduct Nov 20 Phase II in Jan/Feb 21
Whether you think Institute is going to conduct Nov 20 Phase II in Jan/Feb 21
Anonymous Poll
23%
Yes, we trust. Insitute is going to conduct.
77%
No, we don't trust. Later on, they will say not possible let merge with May 21.
Forwarded from CA Amit Jain
Let discuss so called 2020 new term "Opt Out" & what we can do next...
Let discuss logically... Please no emotions...
Facts are important...
Coming live at 5:00 pm today... I hope today no YouTube server issue...
https://youtu.be/EpdwrFWtMxI
Let discuss logically... Please no emotions...
Facts are important...
Coming live at 5:00 pm today... I hope today no YouTube server issue...
https://youtu.be/EpdwrFWtMxI
YouTube
- YouTube
Forwarded from CA Amit Jain
Heard FAQ is finalized for opt out but not released yet...
Wait wait wait.. my suggestion opt out after clarity.. rest upto you people
Wait wait wait.. my suggestion opt out after clarity.. rest upto you people
Forwarded from CA Amit Jain
We fought for safe exam & exam for everyone...
Now you already got another phase exam..
In my opinion in January also containment zone & covid 19 restrictions will be there..
So it is going to be 2 phase exam...
One exam not possible..
So let ICAI take if possible for them & students who would like to give... let them give...
Now you already got another phase exam..
In my opinion in January also containment zone & covid 19 restrictions will be there..
So it is going to be 2 phase exam...
One exam not possible..
So let ICAI take if possible for them & students who would like to give... let them give...
Many asked for fully amended IDT book...
This time sorry it was delayed...
Working on same and will try to finalize within this week...
This time sorry it was delayed...
Working on same and will try to finalize within this week...
U can expect 3 to 4 hrs amendments lectures... Just rough idea..
Once again apology... Occupied in some other things that's why it is delayed otherwise I release fully amended book first in India...🙏🙏🙏
“agent” means a person, including a factor, broker, commission agent, arhatia, del credere agent,
an auctioneer or any other mercantile agent, by whatever name called, who carries on the business
of supply or receipt of goods or services or both on behalf of another;
Agent can work purely on commission basis. Even e-commerce companies like Flipkart, Amazon and Uber
may be covered in some situations. But the relevance of being an agent is more pronounced while
examining whether a transaction between a principal and agent is itself a supply under para 3 of Schedule
I (Chapter 2 of this book). Very often, the word agent or agency is used without necessarily implying that
the transaction is one of agency as understood under Indian Contract Act such as, recruitment agency,
travel agency etc. Care must be taken to identify whether the parties intended to constitute an agency as
understood in law and nothing less.
Mercantile agents: These are appointed in customary course of business with an authority to sell goods, or
to consign goods or to raise money.
Brokers: He negotiates & makes contract for sale & purchase of goods & other property of which he is not
entrusted with possession or control in the ordinary course of business.
Auctioneer: He is an agent for the vendor to sell at any open sale.
Arhatia: A broker or middle man, especially one who has a shop, sometimes with considerable storage
accommodation, in ganj or emporium for the sale of grain. Hence, more generally, a business agent or
correspondent.
Del Credere Agent: Sales agent who guarantees that a buyer is trustworthy and, in case the buyer defaults,
he compensates the principal (the seller). To cover such risks, del credere agents charge higher than normal
commission rates.
Commission Agent: Those agents who only facilitates supply of goods or services.
Example 1: - If newspaper sells a unit of space worth Rs. 100 to advertisement agency for Rs. 85 (after a
trade discount of Rs. 15), the advertisement agency sells the same unit of space to client at Rs. 100,
newspaper would be liable to pay GST on Rs. 85 and the advertisement agency would be liable to
pay GST on full value, that is, Rs. 100.
On the other hand, if the advertisement agency sells space for advertisement as an agent of the newspaper
on commission basis, it would be liable to pay GST on the sale commission it receives from the
Newspaper.
an auctioneer or any other mercantile agent, by whatever name called, who carries on the business
of supply or receipt of goods or services or both on behalf of another;
Agent can work purely on commission basis. Even e-commerce companies like Flipkart, Amazon and Uber
may be covered in some situations. But the relevance of being an agent is more pronounced while
examining whether a transaction between a principal and agent is itself a supply under para 3 of Schedule
I (Chapter 2 of this book). Very often, the word agent or agency is used without necessarily implying that
the transaction is one of agency as understood under Indian Contract Act such as, recruitment agency,
travel agency etc. Care must be taken to identify whether the parties intended to constitute an agency as
understood in law and nothing less.
Mercantile agents: These are appointed in customary course of business with an authority to sell goods, or
to consign goods or to raise money.
Brokers: He negotiates & makes contract for sale & purchase of goods & other property of which he is not
entrusted with possession or control in the ordinary course of business.
Auctioneer: He is an agent for the vendor to sell at any open sale.
Arhatia: A broker or middle man, especially one who has a shop, sometimes with considerable storage
accommodation, in ganj or emporium for the sale of grain. Hence, more generally, a business agent or
correspondent.
Del Credere Agent: Sales agent who guarantees that a buyer is trustworthy and, in case the buyer defaults,
he compensates the principal (the seller). To cover such risks, del credere agents charge higher than normal
commission rates.
Commission Agent: Those agents who only facilitates supply of goods or services.
Example 1: - If newspaper sells a unit of space worth Rs. 100 to advertisement agency for Rs. 85 (after a
trade discount of Rs. 15), the advertisement agency sells the same unit of space to client at Rs. 100,
newspaper would be liable to pay GST on Rs. 85 and the advertisement agency would be liable to
pay GST on full value, that is, Rs. 100.
On the other hand, if the advertisement agency sells space for advertisement as an agent of the newspaper
on commission basis, it would be liable to pay GST on the sale commission it receives from the
Newspaper.
Forwarded from CA Amit Jain
I would like to give advise, please avoid revisions, short notes etc. for IDT..
Avoid watching revision videos if u have conceptual clarity...
Focus more on self study...
Self study is key to success..
If don't have conceptual clarity then watch videos which cover syllabus..
Don't go by study plan or time table..
You people are not robot..
Each human being is unique and no fixed plan suit everyone...
Don't refer any new notes..
Whatever u followed, study from that..
All the Best!!
Avoid watching revision videos if u have conceptual clarity...
Focus more on self study...
Self study is key to success..
If don't have conceptual clarity then watch videos which cover syllabus..
Don't go by study plan or time table..
You people are not robot..
Each human being is unique and no fixed plan suit everyone...
Don't refer any new notes..
Whatever u followed, study from that..
All the Best!!
Forwarded from CA Amit Jain
Watch revision videos if u have conceptual gap...
Otherwise focus on self study..
https://www.youtube.com/playlist?list=PLy0_K9MmjX0ZWDuLD8aE3B4Flz_jaWKdf
Otherwise focus on self study..
https://www.youtube.com/playlist?list=PLy0_K9MmjX0ZWDuLD8aE3B4Flz_jaWKdf
YouTube
CA Final IDT GST Custom Revision for Nov 2020 (100% Syllabus) - YouTube
Forwarded from CA Amit Jain
Airport authority collect psf, UDF. Since they don't have direct contract with passenger so airline collect on behalf of them from passenger and give to them. Pure agent concept.
Passenger can avail itc on airlines invoice. Airport authority would pay GST.
For this collection airline collect service fees which is subject to GST.
In GST everything is simple, just connect with real life.
Passenger can avail itc on airlines invoice. Airport authority would pay GST.
For this collection airline collect service fees which is subject to GST.
In GST everything is simple, just connect with real life.
Forwarded from CA Amit Jain
5_6314258256252371076.pdf
119.1 KB
Summary Chart of Offences & Penalty for CA Final IDT Nov 2020.
By CA Amit Jain
By CA Amit Jain
Forwarded from CA Amit Jain
Last year also students said paper tough and many of mine students said average or easy and finally in results it was 100% result with 40+ exemptions, 30 out of 30 in MCQ. .. Highest mark and rank holder 5th, got 28 out of 30 in MCQ, all average students with not a single rank holder. .
Written feedbacks, marks etc.. are in this group..
Depends if you are well prepared with conceptual clarity, inter linking of provisions then easy otherwise tough..
Written feedbacks, marks etc.. are in this group..
Depends if you are well prepared with conceptual clarity, inter linking of provisions then easy otherwise tough..
Forwarded from Jigz Dawda
Sir I said Thank full to you that I saw you youtube lecturer and it's really helpful too much first Questions was little tricky but I read u material and step by step I try ...