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⚠ Dusherra Offer⚠
⚠ Only One day ⚠
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👉 Any Subject 422/-
https://bit.ly/2yM6Fph
👉 Module wise combo 1299/-
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Forwarded from CS Foundation & CSEET Updates
Q320
Which of the following is not the objective of internal audit:
Which of the following is not the objective of internal audit:
Anonymous Poll
19%
(a) To keep proper control over business activities
13%
(b) To evaluate accounting system
59%
(c) To report to the owners and outsiders
10%
(d) To evaluate the internal check system
Forwarded from GST MCQ
Q311
Special Audit can be directed by a proper officer if he is of the opinion that:
Special Audit can be directed by a proper officer if he is of the opinion that:
Anonymous Poll
6%
(a) Value requires verification
4%
(b) Value has been overstated
17%
(c) Value has not been correctly stated
73%
(d) All of above
Forwarded from Chartered Accountants Updates
Q2 Earning may decline despite corporate tax cut and this period could be one of worst quarter for corporate earnings in recent years on account of lower sales volume
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cstestseries.com
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After a grand success we are providing test series to CS Foundation students only @ 399/-
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👉Schedule - starting 10 Oct https://bit.ly/2KtIV01
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Extra Discount - Apply CODE - COMBO200
cstestseries.com
7047777111
CS Foundation & CSEET Updates
Q320
Which of the following is not the objective of internal audit:
Which of the following is not the objective of internal audit:
Q320 Correct Answer is (c)
GST MCQ
Q311
Special Audit can be directed by a proper officer if he is of the opinion that:
Special Audit can be directed by a proper officer if he is of the opinion that:
Q311 Correct Answer is (c)
Forwarded from CS Foundation & CSEET Updates
Q321
In the case of the enterprises engaged in providing or rendering of services, as a micro enterprise is an enterprise, where the investment in equipment does not exceed______________
In the case of the enterprises engaged in providing or rendering of services, as a micro enterprise is an enterprise, where the investment in equipment does not exceed______________
Anonymous Poll
62%
(a) 10 Lakh
22%
(b) 25 Lakh
11%
(c) 50 Lakh
5%
(d) 1 Crore
Forwarded from DT MCQ
Q297
Limit u/s 16(ii) for deduction of entertainment allowance in case of government employee is __% of salary
Limit u/s 16(ii) for deduction of entertainment allowance in case of government employee is __% of salary
Anonymous Poll
11%
(a) 12.5%
48%
(b) 20%
21%
(c) 15%
20%
(d) 7.5%
Forwarded from GST MCQ
*Summary of Outcomes of New notifications no 44 to 49/CT issued on 09.10.2019*
📍 GSTR1 & GSTR3B notified till March 2020 for all category of tax payer
📍Mandatory to match ITC with 2A, otherwise total unmatched credit cannot exceed 20% of ITC as available in 2A
📍 *GSTR3B now declared return from 01.07.2017* (Amended Rule 61(5)) wherever the time limit for filing GSTR-1 or GSTR-2 has been extended. Thus, the judgement of the Gujarat High Court in the case of AAP and Company has been circumvented.
📍voluntary payment of tax to be intimated vide DRC-01A and not DRC-03
📍 Annual Return for assessee below 2 crore turnover is deemed to have filed, if not filed .
📍 GSTR1 & GSTR3B notified till March 2020 for all category of tax payer
📍Mandatory to match ITC with 2A, otherwise total unmatched credit cannot exceed 20% of ITC as available in 2A
📍 *GSTR3B now declared return from 01.07.2017* (Amended Rule 61(5)) wherever the time limit for filing GSTR-1 or GSTR-2 has been extended. Thus, the judgement of the Gujarat High Court in the case of AAP and Company has been circumvented.
📍voluntary payment of tax to be intimated vide DRC-01A and not DRC-03
📍 Annual Return for assessee below 2 crore turnover is deemed to have filed, if not filed .
Forwarded from Chartered Accountants Updates
RBI Rejects India Bulls Housing and Lakshmu Villas Bank Merger. If the RBI would have approved the move, this would have been the first ever incident where a non-bank lender would have merged with a bank in the country. However, the central bank's letter put end to months of speculation over the merger.
IBHFL and LVB had proposed a merger between two in a share swap deal under which LVB shareholder would get 14 shares of IBHFL for every 100 equity shares held in the bank.
IBHFL and LVB had proposed a merger between two in a share swap deal under which LVB shareholder would get 14 shares of IBHFL for every 100 equity shares held in the bank.
Forwarded from Chartered Accountants Updates
Analysts have revised upwards their estimates for earnings before interest, taxes, depreciation and amortisation (EBITDA) and revenue for Reliance Jio (RJIO) after it hiked the interconnect usage charge (IUC) by 6 paise per minute. The IUC hike by RJIO, analysts say, would pave the way for the other telecom operators to adopt a similar strategy.
Analysts at Edelweiss Securities expect RJIO to resort to further hikes for higher payout towards InvIT—to fund incremental capex for its fibre-to-home (FTH) business and bring down net debt. For RJIO, they expect additional charges to drive up revenue by around 5 per cent, which would translate into nearly 10 per cent increase in EBITDA
Analysts at Edelweiss Securities expect RJIO to resort to further hikes for higher payout towards InvIT—to fund incremental capex for its fibre-to-home (FTH) business and bring down net debt. For RJIO, they expect additional charges to drive up revenue by around 5 per cent, which would translate into nearly 10 per cent increase in EBITDA
Forwarded from Chartered Accountants Updates
India has moved down 10 places to Rank 68th in a Global Index that measures competitiveness, as it fared poorly in most parameters such as Infrastructure, the adoption of Information, Communication and Technology, Financial Markets, skills and Innovation
Forwarded from GST MCQ
Duty-free shops at Mumbai airport eligible for GST input tax credit refund says Bombay HC. The Bombay High Court quashed a Maharashtra Sales Tax order that had refused refund of input tax credit to the duty-free shops at the Mumbai international airport.
Forwarded from GST MCQ
GST Refunds Denied to MNC Back Offices
A host of back offices of multinational companies in the financial sector face a tax whammy, with GST authorities denying them refunds of amounts paid on inputs, saying the work done for parent companies can’t be considered as exports and will be counted as a service for the same entity.
Rejection orders are based on the premise that the services are provided by the local entity to its overseas affiliate company, which is the ‘same entity’ and therefore, the said services do not qualify as exports.
A host of back offices of multinational companies in the financial sector face a tax whammy, with GST authorities denying them refunds of amounts paid on inputs, saying the work done for parent companies can’t be considered as exports and will be counted as a service for the same entity.
Rejection orders are based on the premise that the services are provided by the local entity to its overseas affiliate company, which is the ‘same entity’ and therefore, the said services do not qualify as exports.