CA Inter Knowledge Portal

2022-04-22 08:14:10 GST Question for Today:- Mr. A placed an order with Mr. B of 20,000 pcs on 1st January 2021 and the same order is to be received on last day of every month i.e. 2,000 pcs per month shall be received in next 10 months. When can Mr. A can avail ITC?
(a) 28th February, 2021
(b) 31st October, 2021
(c) 31st March, 2021
(d) Proportionately with receipt of every instalment Open / Comment

2022-04-22 08:13:07 The correct answer to above question would be (b). In case of voluntary registration, Sec 18(1) provides special ITC in respect of inputs held in stock on the date immediately preceeding date of REG-06 Open / Comment

2022-04-21 12:36:09 Topics covered in this part
1) Income under the head Other Sources
2) Income under the head PGBP
3) Set off and Carry Forward
4) Advance tax Open / Comment

2022-04-21 11:16:15

Open / Comment

2022-04-21 08:10:20 Open / Comment

2022-04-21 08:09:15 GST Question for Today:- In case of Voluntary registration input tax credit can be availed
(a) on stocks held on the day immediately preceding the date from which he becomes liable to pay tax under the provisions of this Act
(b) on stocks held on the day immediately preceding the date of grant of registration under the provisions of this Act.
(c) on stocks held on the day immediately preceding the date of application of registration under the provisions of this Act.
(d) None of the above Open / Comment

2022-04-21 08:08:24 The correct answer to above question would be (c). NO ITC is allowed as per Sec 17(5) in respect of any motor vehicles having seating capacity of less than 13 passengers, except when it is used for providing passenger transport service Open / Comment

2022-04-20 18:34:29

Open / Comment

2022-04-20 12:36:06 Income tax test scheduled for today is being shifted to 22nd April... Income tax Marathon Part 2 would be uploaded tonite or 2moro morning Open / Comment

2022-04-20 08:00:08 Open / Comment