CMSL.pdf
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💁♂️ CMSL Notes CS Executive New Syllabus
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CS Foundation & CSEET Updates
Q309
Mean of 0.3, 5, 6, 7, 9,12, 0.2 is –
Mean of 0.3, 5, 6, 7, 9,12, 0.2 is –
Q309 Correct Answer is (b)
Forwarded from CS Foundation & CSEET Updates
Q312
Appropriateness of evidence depends on the following:
Appropriateness of evidence depends on the following:
Anonymous Poll
35%
(a) Information must be reliable
5%
(b) Information must be affordable
45%
(c) Information must be relevant
16%
(d) Information must be valid
Forwarded from GST MCQ
Q303
The tax authorities may conduct audit u/s 65 at:
The tax authorities may conduct audit u/s 65 at:
Anonymous Poll
31%
(a) the place of business of the registered person
5%
(b) the place of residence of the registered person
6%
(c) the office of the tax authorities
57%
(d) (a) or (c)
Forwarded from DT MCQ
Impacts of Tax Audit due date Extension:
The due date of Tax Audit has been extended from 30.09.2019 to 31.10.2019 and here are the things changed related to it:
1. Expenses of F.Y. 2018-19 covered under Section 43B can be claimed even if PAID till 31.10.2019 instead 30.09.2019.
2. Expenses on which TDS has been deducted in F.Y. 2018-19 and not paid till 30.09.2019 can be allowed if TDS is paid till 31.10.2019.
3. Losses can be carried forward and set off in subsequent years even if ITR is filed till 31.10.2019.
4. Capital Gains will not be charged to tax if deposited under Capital Gains Deposit Account.
5. No Late fees of Rs. 1,000/ Rs. 5,000 will be levied on filing of ITR in such cases till 31.10.2019.
6. No penalty for Tax Audit u/s 271B will be levied if the Tax Audit Report is furnished til 31.10.2019.
The due date of Tax Audit has been extended from 30.09.2019 to 31.10.2019 and here are the things changed related to it:
1. Expenses of F.Y. 2018-19 covered under Section 43B can be claimed even if PAID till 31.10.2019 instead 30.09.2019.
2. Expenses on which TDS has been deducted in F.Y. 2018-19 and not paid till 30.09.2019 can be allowed if TDS is paid till 31.10.2019.
3. Losses can be carried forward and set off in subsequent years even if ITR is filed till 31.10.2019.
4. Capital Gains will not be charged to tax if deposited under Capital Gains Deposit Account.
5. No Late fees of Rs. 1,000/ Rs. 5,000 will be levied on filing of ITR in such cases till 31.10.2019.
6. No penalty for Tax Audit u/s 271B will be levied if the Tax Audit Report is furnished til 31.10.2019.
Forwarded from Company Law MCQ (CA, CS, CMA)
*Re: DIR-3 KYC*
_DIR-3 KYC Extension_ *_[Official]_*
MCA has extended the due date of filing DIR-3 KYC from September 30 to October 14 October 2019
_DIR-3 KYC Extension_ *_[Official]_*
MCA has extended the due date of filing DIR-3 KYC from September 30 to October 14 October 2019
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As per student's request we have extended Navratri offer till 3 Oct 🤗🤗
Navratri Offer 1-3 Oct🎓🎓
Test series available at heavy discount
👉 Any Subject 444/-
https://bit.ly/2yM6Fph
👉 Module wise combo 1399/-
http://a1.to/08bpq4
👉Schedule - starting 1 Oct https://bit.ly/2KtIV01
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Humble Request to All Subscribers
🔰 All are Requested to share the link with at least one of their friend having CS Attempt in Dec 19 so that we could reach out to maximum people and help them.
👥 Subscribe https://t.me/CSUPDATES
🔔 Share in all your social handle like in Fb, Instagram, WhatsApp etc.
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👥 Subscribe https://t.me/CSUPDATES
🔔 Share in all your social handle like in Fb, Instagram, WhatsApp etc.
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You’re not LATE & You’re not EARLY.
You’re not LATE.
You’re not EARLY.`
You are very much ON TIME, and in your TIME ZONE Destiny set up for you.
In conclusion don't rush to get and don't be sad .
Make today your day!!
“Interesting to understand this message”
New York is 3 hours ahead of California,
but it does not make California slow.
Someone graduated at the age of 22, but waited 5 years before securing a good job!
Someone became a CEO at 25,
and died at 50 While another became a CEO at 50 and lived to 90 years.
Someone is still single while someone else got married.
Obama retires at 60 but Trump starts at 70.
Absolutely everyone in this world works based on their Time Zone.
People around you might seem to go ahead of you, some might seem to be behind you.
But everyone is running their own RACE, in their own TIME.
Don’t envy them or mock them.
They are in their TIME ZONE, and you are in yours!
Life is about waiting for the right moment to act.
You’re not LATE.
You’re not EARLY.`
You are very much ON TIME, and in your TIME ZONE Destiny set up for you.
In conclusion don't rush to get and don't be sad .
Make today your day!!
Cstestseries.com
Only 2 Days Left. Avail the maximum discount on Test Series🤗🤗
Navratri Offer 1-3 Oct🎓🎓
👉 Any Subject 444/-
https://bit.ly/2yM6Fph
👉 Module wise combo 1399/-
http://a1.to/08bpq4
👉Schedule - starting 1 Oct https://bit.ly/2KtIV01
👉Click to know the process
http://a1.to/uTeV53
Extra Discount - Apply code COMBO200
cstestseries.com
7047777111
Only 2 Days Left. Avail the maximum discount on Test Series🤗🤗
Navratri Offer 1-3 Oct🎓🎓
👉 Any Subject 444/-
https://bit.ly/2yM6Fph
👉 Module wise combo 1399/-
http://a1.to/08bpq4
👉Schedule - starting 1 Oct https://bit.ly/2KtIV01
👉Click to know the process
http://a1.to/uTeV53
Extra Discount - Apply code COMBO200
cstestseries.com
7047777111
CS Foundation & CSEET Updates
Q312
Appropriateness of evidence depends on the following:
Appropriateness of evidence depends on the following:
Q312 Correct Answer is (c)
GST MCQ
Q303
The tax authorities may conduct audit u/s 65 at:
The tax authorities may conduct audit u/s 65 at:
Q303 Correct Answer is (d)
Forwarded from CS Foundation & CSEET Updates
Q313
Which one of the following is not a characteristic of a company incorporated under Companies Act_______
Which one of the following is not a characteristic of a company incorporated under Companies Act_______
Anonymous Poll
5%
(a) Perpetual Existence
60%
(b) Liability not Specified
4%
(c) Transferability of Shares
30%
(d) Representative Management
Forwarded from Company Law MCQ (CA, CS, CMA)
Q282
In case of Sec 8 Companies, GM may be called by giving not less than _______ days‟ notice
In case of Sec 8 Companies, GM may be called by giving not less than _______ days‟ notice
Anonymous Poll
18%
(a) 7
56%
(b) 14
21%
(c) 21
5%
(d) 30
Forwarded from GST MCQ
*Important Changes in GST w.e.f. 01-10-2019*
_*Reverse Charge*_
_*Renting of Motor Vehicle*_
Services provided by way of renting of motor vehicle by any Individual/Firm/LLP to any Body corporate (companies), covered under reverse charge mechanism, taxable @5%. However if the service provider charges GST @12% then he can continue with Forward Charge. Then no Reverse Charge applicable.
_*Exemption*_
_*Warehousing (Notification No 21/2019- Central Tax (Rate)*_
W.e.f 01.10.2019, services provided by way of storage or warehousing of cereals, pulses, fruits, nuts & vegetables, spices, copra, sugarcane, jiggery, raw vegetable fibres such as cotton, flax, jute etc, indigo, unmanufactured tobacco, betel leaves, tendu leaves, coffee and tea are exempt from tax. Earlier this exemption was on limited items of agricultural produce and few other products.
_*Transportation of goods by Air/Vessel(Notification No 21/2019)*_
The services by way of transportation of goods by an aircraft or vessel from customs station of clearance in India to a place outside India shall be exempted till 30th day of September 2020. This exemption was to end on 31.03.2019. However it has been extended for further 1 year.
_*Exports against Supply by Nominated Agency (Notification No 17/2019)*_
The Central Government under Notification No 26/2018, exempted supply of gold supplied by Nominated agency to the recipient under ‘Export against Supply by Nominated Agency’ subject to certain conditions mentioned in said notification. Now it also includes “Silver and platinum” under ‘Export against Supply by Nominated agency’ Scheme, w.e.f. 01.10.2019
_*Composition Scheme*_
_*Aerated Water (Notification No. 18/2019 and 43/2019)*_
Any person engaged in manufacturing of aerated water shall not be eligible to levy tax under Composition Scheme, w.e.f. 01.10.2019. However if a dealer has taken registration under composition scheme of 6% tax as goods and service provider both, then he cannot even trade in aerated water.
_*Rate Changes*_
_*Packing Material (Notification No 14/2019)*_
Bags of polyethylene, bulk containers of man-made fibres chargeable at the tax rate of 12%. (earlier it was 5% in some cases(tariff 63053200 and 63053300) and 18% in some cases (tariff 3923),, w.e.f. 01.10.2019
Woven and non-woven bags and sacks of polyethylene or polypropylene strips or the like, whether or not laminated, of kind use of packing of goods, shall be chargeable at the rate of 12%., w.e.f. 01.10.2019
_*Caffeinated Beverages(Notification No 17/2019)*_
The taxable rate on all the caffeinated beverages increased from 18% to 28%, w.e.f 01.10.2019 (Ex- Energy Drinks such as red bull). However it is still a confusion as to which beverages are to be considered caffeinated beverages.
_*Precious or semi-precious Stone (other than diamonds) (Notification No 14/2019)*_
The semi-precious stones, shall be now taxable at the rate of 0.25% (earlier it was 3%). Long pending demand of the Jewellers have been fulfilled. However pearls continue to be charged at 3% tax rate.
_*Reverse Charge*_
_*Renting of Motor Vehicle*_
Services provided by way of renting of motor vehicle by any Individual/Firm/LLP to any Body corporate (companies), covered under reverse charge mechanism, taxable @5%. However if the service provider charges GST @12% then he can continue with Forward Charge. Then no Reverse Charge applicable.
_*Exemption*_
_*Warehousing (Notification No 21/2019- Central Tax (Rate)*_
W.e.f 01.10.2019, services provided by way of storage or warehousing of cereals, pulses, fruits, nuts & vegetables, spices, copra, sugarcane, jiggery, raw vegetable fibres such as cotton, flax, jute etc, indigo, unmanufactured tobacco, betel leaves, tendu leaves, coffee and tea are exempt from tax. Earlier this exemption was on limited items of agricultural produce and few other products.
_*Transportation of goods by Air/Vessel(Notification No 21/2019)*_
The services by way of transportation of goods by an aircraft or vessel from customs station of clearance in India to a place outside India shall be exempted till 30th day of September 2020. This exemption was to end on 31.03.2019. However it has been extended for further 1 year.
_*Exports against Supply by Nominated Agency (Notification No 17/2019)*_
The Central Government under Notification No 26/2018, exempted supply of gold supplied by Nominated agency to the recipient under ‘Export against Supply by Nominated Agency’ subject to certain conditions mentioned in said notification. Now it also includes “Silver and platinum” under ‘Export against Supply by Nominated agency’ Scheme, w.e.f. 01.10.2019
_*Composition Scheme*_
_*Aerated Water (Notification No. 18/2019 and 43/2019)*_
Any person engaged in manufacturing of aerated water shall not be eligible to levy tax under Composition Scheme, w.e.f. 01.10.2019. However if a dealer has taken registration under composition scheme of 6% tax as goods and service provider both, then he cannot even trade in aerated water.
_*Rate Changes*_
_*Packing Material (Notification No 14/2019)*_
Bags of polyethylene, bulk containers of man-made fibres chargeable at the tax rate of 12%. (earlier it was 5% in some cases(tariff 63053200 and 63053300) and 18% in some cases (tariff 3923),, w.e.f. 01.10.2019
Woven and non-woven bags and sacks of polyethylene or polypropylene strips or the like, whether or not laminated, of kind use of packing of goods, shall be chargeable at the rate of 12%., w.e.f. 01.10.2019
_*Caffeinated Beverages(Notification No 17/2019)*_
The taxable rate on all the caffeinated beverages increased from 18% to 28%, w.e.f 01.10.2019 (Ex- Energy Drinks such as red bull). However it is still a confusion as to which beverages are to be considered caffeinated beverages.
_*Precious or semi-precious Stone (other than diamonds) (Notification No 14/2019)*_
The semi-precious stones, shall be now taxable at the rate of 0.25% (earlier it was 3%). Long pending demand of the Jewellers have been fulfilled. However pearls continue to be charged at 3% tax rate.
Forwarded from DT MCQ
CBDT on implements a computer-generated Document Identification Number (DIN). The DIN system, which becomes operative from 1 October 2019, will apply to all kind of communications from the income tax department, whether it is related to assessment, appeals, investigation, penalty, and rectification among other things.
Forwarded from GST MCQ
About 93% of the goods and services taxpayers will be relieved of monthly return filing from the next fiscal year once the new simplified return system comes into effect from April 2020. Those with an annual turnover of less than Rs 5 crore will have the option of filing quarterly returns, but will need to pay taxes on a monthly basis. Those with an annual turnover of over Rs 5 crore will need to file monthly returns.