First LIVE Assessment Session today at 8 AM.
The July period is Self Study of IDT: With Assessment Sessions every Sunday !
This brings accountability and discipline to the study.
Our main QA and MCQ Lectures start: 1 August. Which would be kind of a 2nd Revision.
Only the first session today shall be on YT as well.
The July period is Self Study of IDT: With Assessment Sessions every Sunday !
This brings accountability and discipline to the study.
Our main QA and MCQ Lectures start: 1 August. Which would be kind of a 2nd Revision.
Only the first session today shall be on YT as well.
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Q: Which of the following is a consideration under GST?
Anonymous Quiz
8%
Penalty for violating the laws
40%
Fixed charges for power
15%
Cheque dishonour fine
37%
None of above
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Q: Vouchers (as a pre-paid instrument) which are not recognised by RBI: Transactions in such vouchers is chargeable to GST?
Anonymous Quiz
23%
Yes
39%
No: as it's "money"
38%
No: as it would be covered by Sch III
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Q: Vandana Silk Ltd (registered) is a manufacturer of silk yarn from raw silk. It sold the yarn to Mr. Gopal (Registered in GST). Who will pay tax on such supply?
Anonymous Quiz
23%
Vandana Silk Ltd under FCM
73%
Mr. Gopal under RCM
4%
It's a non taxable good
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Q: Raman GTA provided GTA service to a partnership firm (not registered under Partnership Act, and not registered under GST). Who will pay GST? (FCM option not availed by the GTA)
Anonymous Quiz
11%
Raman GTA
56%
Partnership firm
32%
No tax, since the firm is not registered under GST
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Q: GTA service provided to a Gov Department which is registered under GST, but solely for TDS compliance and not making any taxable supply. Who will pay GST?
Anonymous Quiz
29%
GTA- FCM
9%
Gov department - RCM
63%
Exempt
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Hi Everyone! I am starting a new Regular Batch from 15 July for May-27 CA Final!
Would really appreciate it if you could share your feedback about classes (if taken) in the Batch Details’ video - Comments section!
New students get authentic feedback.
Thank you! 💙
Would really appreciate it if you could share your feedback about classes (if taken) in the Batch Details’ video - Comments section!
New students get authentic feedback.
Thank you! 💙
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Q: Aman sold goods to KRA Traders Ltd on FOR (Free on Road) basis. Aman is unregistered, whereas KRA Traders is registered under GST. GTA freight was paid for the time being by KRA Traders Ltd. GST on GTA Service?
Anonymous Quiz
31%
Exempt
14%
Taxable - FCM
55%
Taxable - RCM
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Q: A partnership firm sponsored a cricket tournament organised by a partnership firm. Who will pay GST on it?
Anonymous Quiz
46%
Supplier
54%
Recipient
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Q: Residential flat given on rent to Mr. Singh (unregistered) - an employee of a MNC. He stays with his family. He pays the rent. GST on rent?
Anonymous Quiz
7%
Taxable - FCM
80%
Exempt
7%
Taxable - RCM
5%
Need supplier status to answer this
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Q: Residential flat given on rent to Mr. Singh (unregistered) - an employee of a MNC. Rent agreement is with the MNC company (registered under composition scheme) i.e. the Company pays the rent. GST on rent?
Anonymous Quiz
22%
Taxable - FCM
28%
Exempt
47%
Taxable - RCM
3%
Need supplier status
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Q: Recovery agent provided services to a trader of goods. Who will pay GST?
Anonymous Quiz
71%
Agent - FCM
24%
Trader - RCM
4%
Exempt
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Q: Central Government gave a commercial property on rent to LogiSol Ltd. (Previous year Agg t/o is Rs. 1 lac). Is the transaction taxable?
Anonymous Quiz
62%
Yes, GST applicable
38%
No, exempt
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Q: Service by Agent to - Business Correspondent: FCM or RCM?
Anonymous Quiz
17%
FCM
59%
RCM
23%
Exempt. No ques of FCM or RCM
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Q: Security service (by way of security personnel) provided by BVG Security Ltd. (Unregistered) to a business entity (Registered in Delhi). Value is Rs. 1,00,000. GST is 18%. How much ITC shall the recipient claim?
Anonymous Quiz
51%
18,000
38%
No ITC, since no GST in the transaction
11%
Need exact status of the business entity (company or firm or llp) to answer this
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Q; Under SLS (securities lending scheme), the borrower shall pay the GST under RCM regardless of the registration status of the lender. Examine the statement.
Anonymous Quiz
77%
Valid
23%
Invalid
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Q: Motor Vehicle for goods transport given on rent by a partnership firm to a company. Cost of fuel included in the consideration. The rate of GST is 5%.
Anonymous Quiz
41%
FCM
59%
RCM
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