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This channel aims to help CA students at inter/Ipc level by sharing notes,video clips,summary charts,voice clips etc
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The latest Messages 7
2022-04-20 07:58:51
GST Question for Today:- Determine the cases in which ITC will not be available amongst the following
(i) A software professional providing technical consultancy buys a motorcycle for use of his employee.
(ii) A motor driving school buys a car for being used in imparting motor driving training.
(iii) A flying school imports an aircraft for use in its training activity.
(iv) A manufacturer buys a small truck for the purpose of transporting its inputs and finished goods.
Input tax credit cannot be taken on:
(a) (iii)
(b) (i), (ii), (iii), (iv)
(c) (i)
(d) (i), (iii)
281 views04:58
2022-04-20 07:55:51
The correct answer to above question would be
(C). Sec 10 only provides that a composition dealer is not allowed to make Inter-State outward supplies, however there is no bar on Inter State inward supplies. Further, concessional rate of tax is not applicable if composition dealer has to pay tax under reverse charge
297 views04:55
2022-04-20 06:45:46
Income tax test scheduled for today is being shifted to 22nd April...
Income tax Marathon Part 2 would be uploaded tonite or 2moro morning
429 viewsedited 03:45
2022-04-18 07:30:28
164 voters455 views04:30
2022-04-18 07:28:03
GST Question for Today:- Mr. Deepak has been registered as composition dealer in State of Haryana since 15th April 2021, when he got registered under GST law. On 18th July 2021, he imported services from California for which he paid Rs. 5,00,000 as consideration. Which of the following statements is correct in the given case:-
a) Mr. Deepak is ineligible for composition scheme since he has made an Inter-State procurement of services
b) Mr. Deepak is eligible for composition scheme and he has to pay tax @1% under reverse charge on import of services
c) Mr. Deepak is eligible for composition scheme but he will have to pay tax @18% under reverse charge on import of services
d) Mr. Deepak is eligible for compositions scheme. Further, reverse charge will not apply in his case since he is not a normal taxpayer
480 views04:28
2022-04-18 07:27:10
The correct answer to above question would be
(a). Composition dealers are not allowed to issue tax invoice in respect of their outward supplies, instead they have to issue a Bill of Supply
464 views04:27
2022-04-18 06:47:10
551 views03:47
2022-04-16 10:27:50
61 voters99 views07:27
2022-04-16 10:25:07
GST Question for Today:- Which of the following statements is correct for a tax payer who has opted for composition scheme?
a) A registered person supplying goods/services under the composition scheme shall issue a bill of supply.
b) Last date for payment of liability towards tax, interest, penalty, fee or any other sum is 20th day of each month.
c) A composition dealer shall be required to file GSTR-1 and GSTR-3B on monthly basis.
d) A composition dealer has an option to file GSTR-3B on quarterly basis, however tax payment has to be made on monthly basis upto 25th of next month
111 views07:25
2022-03-02 17:33:15
Will be coming Live in 15 minutes on Youtube to have a Guidance Session with Students who couldnt clear in Dec 21 exams
You can ask your queries and doubts there
Regards
Sanchit Grover
446 views14:33
C
