Q: A Ltd. Holds 26% equity in B Ltd. Are they related persons under GST? Note that A Ltd doesn't have any other decision making power in B Ltd business.
Anonymous Quiz
44%
No
56%
Yes since it's at least 25%
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Q: Who is not a family from below under GST?
Anonymous Quiz
13%
Independent son
1%
Independent spouse
74%
Dependent Father of spouse
12%
Dependent brother
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Q: Astra Pipes Ltd. has principal place of business in Pune, MH. And Additional Place of Business in Mumbai, MH. Stock transfer from Pune place of business to Mumbai without consideration is a supply.
Anonymous Quiz
38%
True
62%
False
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Q: A is a DCA (del credere agent) of P. A sold goods to C. Invoice issued in the name of P. C defaults. A pays to P on C's behalf and is treated as a loan by A to C. Interest is charged on the loan as well. Which is the incorrect statement?
Anonymous Quiz
27%
Loan by A to C is an independent supply on principal to principal basis
14%
Interest is not a part of the valuation of goods by P to C
23%
Interest is exempt from GST in this case
37%
None. All are correct.
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Q: Import of architectural services for a consideration for home renovation is a supply under GST?
Anonymous Quiz
60%
Yes
29%
No. It's not for business.
10%
Can't answer. Need to know from whom it's being imported.
1%
Can't answer. Need to know the amount of consideration.
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Just a note. Detailed technical questions - don't skip. I see people attempting number drop in technical questions.
That's where you note the minute points. This is how you stay in touch with this subject over the long term.
Solve honestly. You will understand the benefit of these daily questions when you sit for exams.
Compounding effect aega. 💙
That's where you note the minute points. This is how you stay in touch with this subject over the long term.
Solve honestly. You will understand the benefit of these daily questions when you sit for exams.
Compounding effect aega. 💙
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I am recording a discussion with our Regular Batch Student - Who scored 85 in May 26 IDT Paper.
We will be focusing on small different things she practiced during her preparations for IDT.
It won't be a typical general discussion.
Anything you would want to ask her? Let me know. Will try to cover.
We will be focusing on small different things she practiced during her preparations for IDT.
It won't be a typical general discussion.
Anything you would want to ask her? Let me know. Will try to cover.
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Q: Mr. Aman and Mr. Boman are employees of Yugam Infra. Aman is a permanent employee. Boman is a casual employee. Both draw salary. Whose transaction is a supply under GST?
Anonymous Quiz
2%
Aman's
10%
Boman's
13%
Both
75%
Neither
❤15
Q: Service by Consumer Disputes Redressal Commission is not a supply i.e. any fees paid wrt a case is not liable to GST.
Anonymous Quiz
59%
True
41%
False. It's not a tribunal, hence it's a supply
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Q; Insurance Claim is a "good", but it's transaction is not a "supply" under GST law.
Anonymous Quiz
63%
True
37%
False
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Small questions like true false, one liner statements are actually a bigger indicator of where you stand in GST conceptual part.
Pay attention to the mistakes. Note it down.
Prepare your own "HOTS" list.
Abhi bhi time hai apne paas...old school padhai Karo.
Paper ane do new or tricky, 60 plus to lane hee hai. 🙌
Pay attention to the mistakes. Note it down.
Prepare your own "HOTS" list.
Abhi bhi time hai apne paas...old school padhai Karo.
Paper ane do new or tricky, 60 plus to lane hee hai. 🙌
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Q: ABC Ins issued insurance policy to AZ Tech. Premium - Rs 1 Lac. ABC Ins trf part of risk to XYZ Insurance. Reinsurance premium charged by XYZ is Rs. 20,000. ABC deducts 2,000 ceding commission, pay 18K. Total GST on what amt? If XYZ pays GST on 20K
Anonymous Quiz
45%
1,00,000
40%
1,20,000
12%
1,18,000
3%
1,22,000
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Profit Petroleum (share of gov in Production Sharing Contracts) is a consideration w.r.t a supply, but it's exempt from GST.
Anonymous Quiz
70%
True
30%
False. This is not a consideration. Not a supply.
0%
Depends on amounts.
❤14
Select the most correct option w.r.t taxability and nature of Priority Sector Lending Certificates?
Anonymous Quiz
11%
Goods | Inter state | FCM
57%
Goods | Inter State | RCM
25%
Goods | Inter or Intra depends | RCM
6%
None of above
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You will for sure learn at least 2/3 points which you can implement in your IDT Study now.
Do check! Invest 30 mins.
Can help you UP your prep in IDT.
- 1.5 Days?
- Own notes?
- How many revisions?
- QB Markings?
- 14 Marker Practice?
- Sequence in Paper?
All things discussed.
You still have time. Incorporate the learnings!
Do check! Invest 30 mins.
Can help you UP your prep in IDT.
- 1.5 Days?
- Own notes?
- How many revisions?
- QB Markings?
- 14 Marker Practice?
- Sequence in Paper?
All things discussed.
You still have time. Incorporate the learnings!
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