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

Hi everyone
In the above video I have tried to answer almost every doubt of yours with regard to exam preparation in these last 1.5 Days
Sequence of Chapters, Imp Topics, Kahan se Padna hai, Kya kya karna hai, Kya Kya nahi karna...everything has been discussed

So just give 15 min to make strategy and then lag jaao jldi se

🔥 Cover all your concepts of CA Inter Taxation syllabus for Nov 2023 using Colorful Flowcharts with this Comprehensive GST & Income Tax Revision Marathon By CA Sanchit Grover sir💥💥

📺 GST Revision Marathon (Part A) by CA Sanchit Grover
https://youtu.be/3104PiZ1yKk

📺 GST Revision Marathon (Part B) by CA Sanchit Grover
https://youtu.be/RQjvchnKuHA

✅ Income Tax Revision Marathon (Part A) by CA Sanchit Grover
https://youtu.be/1vXkiR1WJ_4

✅ Income Tax Revision Marathon (Part B) by CA Sanchit Grover
https://youtu.be/8KTqSDLFe_M

🖥 GST Amendment video
https://youtu.be/p0CcDrNP7Tc

📑 Amendment Notes for Nov 23
https://drive.google.com/file/d/1IgKSH7FAoB2SM-VMin5mKLJ0h-fFI5b5/view?usp=drivesdk

Spcl Features of Marathon lecture:-
💎 All amendments for Nov 23 exams already covered in revision lecture
💎 Entire revision done from flowcharts to ensure easy retention for last day preparation
💎 Each and every topic of syllabus covered
💎 Unique learning skills for ease of learning

All Imp Links for Revision at one place

Hey everyone
Hope your prep is going on well. Pls make sure to spare 10 min of ur time for this video in which I have explained few imp things about attempting paper . Also discussed how to use ur 15 min and strategy to select which questipns to do first

Photo from Seema Arora

New Logo released by ICAI