CA Inter Knowledge Portal

2022-05-02 15:31:58 Open / Comment

2022-05-01 12:03:08 Trying to get it uploaded ASAP Open / Comment

2022-05-01 12:03:01 Hi all
There will be slight delay in uploading of Test No. 9 Income tax scheduled for today Open / Comment

2022-04-30 10:02:45 Law Question for Today:- Adani Enterprises Limited has its shares listed on a recognized stock exchange in India. During the current financial year ending on 31st March 2020, the securities and exchange board of India (SEBI) has found some irregularities in the filings made by the company. Accordingly, SEBI proposes to make an application to the Tribunal for reopening of the books of accounts of the Company. You, as an expert, are called upon by SEBI to advise with which last financial year for reopening of books of accounts an application can be made?
a) 2015-2016
b) 2013-2014
c) 2010-2011
d) 2011-2012 Open / Comment

2022-04-27 08:25:59 Open / Comment

2022-04-27 08:24:28 GST Question for Today:- Determine the time of supply of service on reverse charge basis in accordance with the provisions of CGST Act 2017
Date of invoice issued by supplier: 30th November 2021
Date of completion of service: 30th November 2021
Date of payment by recipient: 15th November 2021
Date of receipt of services in recipient's books: 30th November 2021
a) 30th November 2021
b) 15th November 2021
c) 30th January 2022
d) 15th January 2022 Open / Comment

2022-04-27 08:23:31 The correct answer to above question would be (a). In case of Rs. 10L, TOS will be date of invoice (since it is prior to payment). However, TOS for addition in value due to late fees shall be date on which such late fees is received i.e. 31st August. Open / Comment

2022-04-26 08:19:29 Next Test of Taxation will be conducted on Sunday...Marathon Part 3 will be public by Friday Open / Comment

2022-04-26 08:14:11 Open / Comment

2022-04-26 08:09:28 GST Question for Today:- Mr. R has supplied design services to Mr. S for which invoice was issued on 5th April 2021. The consideration for the services was Rs.10,00,000 which was required to be paid within 3 months. However, Mr. S made the payment on 31st August 2021 (i.e. after the stipulates period) for which Mr. R charged late fees of Rs. 50,000. Final payment of Rs. 10,50,000 was made by Mr. S to Mr. R on 31st August 2021. What would be your advice to Mr. R for time of supply in respect of the given transaction:-
a) Time of Supply of Rs 10,00,000 shall be 5th April 2021 whereas time of supply for Rs. 50,000 shall be 31st August 2021.
b) Time of supply for entire Rs. 10,50,000 shall be 31st August 2021
c) Time of supply of entire Rs 10,50,000 shall be 5th April 2021
d) Time of supply for Rs. 10,00,000 shall be 5th April 2021 whereas for Rs. 50,000 it is the option of Mr. R either to treat 5th April or 31st August 2021 as time of supply Open / Comment