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Here's updated list of all links related to various Marathon Revision Lectures for CA Inter Nov 23

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.

Law Question for Today:- On 30th June 2017, the liability side of Balance Sheet of X Ltd. showed balance of paid up share capital of Rs. 65
lacs, free reserve of Rs. 10 lacs, share premium account of Rs. 20lacs, deposits of Rs. 25 lacs, repayable in the
current financial year, during the month of September 2017.In July 2017, the company was in need of some
short term funds to the tune of Rs. 20 lacs for a period of 6 months. The maximum amount which the company
may hold as deposit together with existing deposits will be—
a) Rs. 33.25 Lacs
b) Rs. 11.25 lacs
c) Rs. 95 lacs
d) Rs. 9.5 lacs.

Photo from Sanchit Grover

GST Question for Today:- Mr. Manjot Singh Sidhu is a trader supplying goods from his firm M/s. Singh Traders. The office of the firm is located in Delhi whereas the godowns are located in the State of Uttar Pradesh, Punjab and Jammu & Kashmir (J & K).
M/s. Singh Traders made intra-State supplies from different States during the period from 1-Jul-2022 to 31-March-2023 as follows
(i) Delhi-Taxable supplies: Rs. 21,00,000/-.
(ii) Punjab–Exempted supplies: Rs. 6,00,000/-.
(iii) Uttar Pradesh–Taxable and exempted supplies: Rs. 3,00,000/- each respectively.
(iv) J & K–Taxable and exempted supplies: Rs. 8,00,000/- and Rs. 3,00,000/- respectively.

Being a GST expert, Mr. Manjot Singh Sidhu seeks your advice to correctly ascertain the States in which he is required to take registration under GST:
a) Delhi, Punjab, Uttar Pradesh and J & K
b) Delhi, Uttar Pradesh and J & K
c) Delhi and Uttar Pradesh
d) Delhi

Law Question for Today:- ABC Infrastructures Limited is a listed company quoted at National Stock Exchange. The company closed its
Register of Members in June and August, 2017 for 12 and 21 days respectively. The CFO of company has
informed the company secretary to consider closing of register in December for another 15 days for some
strategic reasons. Referring to the provisions of Companies Act, 2013, examine the validity of above action of
the company.
a) Valid, as the closure of register of members by company each time is not exceeding 30days.
b) Invalid, as company cannot go for closure of Register of members more than twice in a year.
c) Invalid, as the period of closing register of members exceeding 30 days in a year.
d) Invalid, as the period of closing the Register of members by the company is exceeding 45 days in a year.

GST Question for Today:- Mr. Ram has just started his operations of selling footwear on 1st April 2023 in Haryana. His aggregate turnover during FY 2023-24 upto 31st October 2023 is just Rs. 15 lacs. Inspired by the growth of e-commerce in India, he registered himself with Flipkart (an electronic commerce operator) and sold goods worth Rs. 1,50,000 from Flipkart on 15th November 2023. On 1st December 2023, he made further supply of goods amounting to Rs. 6,00,000. He is confused about taxability under GST law. Which of the following is true about his GST liability and compliance:-

a) He is not required to get registration since threshold limit is Rs. 40 lacs in Haryana
b) He becomes liable to get registration on 1st December 2023 since the applicable threshold limit is Rs. 20 lacs which was crossed on 1st December 2023.
c) He becomes liable to get registration on 1st April 2023 i.e. date on which his business operations were started
d) He becomes liable to get registration on 15th November 2023 i.e. date on which he makes supply of goods through Flipkart

Law Question for Today:- XP Ltd declared 12% dividend to its Equity Shareholders. However Company missed to transfer unpaid dividend
to bank account even after 40 days from declaration of Dividend. In such case how much interest will be
payable?
a) 8% p.a.
b) 16% p.a.
c) 10% p.a.
d) 12% p.a.

GST Question for Today:- Mr. X (whose aggregate turnover in preceeding FY exceeds Rs. 5 Crore) has an output tax liability of Rs. 1,00,000 for the month of April 2023. He has also claimed ITC of Rs. 60,000 for the same month. Mr. X filed his GSTR-3B on 2nd June 2023 and discharged the remaining Rs. 40,000 through cash ledger. Which of the following statements is true with regard to interest u/s 50
a) Interest is charged @18% on Rs. 40,000 from 21st May till 2nd June
b) Interest is charged @18% on Rs. 1,00,000 from 21st May till 2nd June
c) Interest is charged @18% on Rs. 40,000 from 1st May till 2nd June
d) Interest is charged @18% on Rs. 1,00,000 from 1st May till 2nd June

GST Question for Today:- Kidzee Ltd., a wholesaler of toys registered in Chandigarh, is renowned in the local market for the varieties of toys and their reasonable prices. Kidzee Ltd. makes supply of 100 pieces of baby’s learning laptops and chat learning phones to Nancy General Store on 25th September, 20XX by issuing a tax invoice amounting to Rs. 1,00,000. However, the said toys were returned by Nancy General Store on 30th September, 20XX. Which document Kidzee Ltd. is required to issue in such a case?
(a) Debit Note
(b) Refund voucher
(c) Credit note
(d) Payment voucher

Law Question for Today:- A had to travel to a different town for 5 days. He left his cow in the custody of B so that she can be taken care of.
After two days the cow delivers a calf. Now, B has to return to A:
a) Only the cow
b) Only the calf
c) Both the cow and the calf
d) Either the cow or the calf