Forums
Supply
Indirect Taxation
answered on 01-Apr-22 18:28
I have made a purchase which is taxed as mixed supply now can I make a sale as composite supply?
latest answer
Yes
srinidhi srinivas
CMA Final
★ 8K+
1
569
Study guide lines
Indirect Taxation
answered on 03-Apr-22 15:27
What is meaning of this Does it mean no question would be asked on these topics for exam
latest answer
Ok sir thank you sir
Pandusml V
CA Final
★ 4K+
8
566
Legality of object and consideration from Indian contract act
Corporate & Other Laws
answered on 01-Apr-22 16:16
What is the difference between i) forbidden by law and ii) defeat the provisions of law
latest answer
Understood bro thank you
Vijay K
CA Inter
★ 9K+
3
995
May 2021 rtp
Indirect Taxation
answered on 01-Apr-22 18:59
Can any one help me with this question
latest answer
This question pertains to RCM concept read with schedule III Given Mr. Priyan is a director of a company - in each of given case, In 1st case Independent director - Wherever a company is in receipt of service from a Director, being independent ( Not in an employee-employer relationship specified under schedule III), then for such transaction gst is applicable and shall be taxed under reverse charge basis i.e. The company located in a taxable territory receiving such service should pay tax applicable on such Director fee on behalf of the Independent Director. Hence the Sun Moon Company pvt Ltd. is liable to pay gst on the transaction value (Director fee) at the rates applicable. In the 2nd case employee as well as executive director - Where the 60,000 out of the 1,25,000 is booked as the salary in books of company and the company is liable to deduct Tds u/s 192 Income tax Act - Then as per the provisions of schedule III of CGST act this will be treated as neither supply of goods nor supply of service, Hence no gst implications to an extent of amount Rs.60000. But the remaining 65,000 which is declared as other than salaries, i.e. Professional fees/sitting fees etc. This part of remuneration falls under the scope of supply and in this case of Fees received for professional services rendered by the Director for which the company deducts Tds u/s 194J of Income tax Act, Gst is payable under Reverse charge basis by the company to which he rendered such service. Hence The Sun Moon Company pvt Ltd. is liable to pay gst on the value of professional fee paid to the Director i.e on Rs 65000 at the rates applicable.
Pandusml V
CA Final
★ 4K+
1
545
Rcm
Indirect Taxation
answered on 01-Apr-22 16:12
Service provided by way renting of motar vehicle provided to body corporate is tax under rcm?? ( as per icai moudel) but at RTP answer to same mentioned is changed
latest answer
Ok thank you
Madhu Reddy
CA Inter
★ 4K+
5
591
Cap gain inter
Direct Taxation
answered on 03-Apr-22 12:49
X converts his capital asset (acquired on June 10, 2004 for â?? 60,000) into stock-in-trade on March 10, 2021. The fair market value on the date of the above conversion was â?? 5,50,000. He subsequently sells the stock-in-trade so converted for â?? 6,00,000 on June 10, 2021. Discuss the year of chargeability of capital gain...... us this ans correct for this question.....
latest answer
Sorry, I can't get clarity form your attachment. But just think logically bro. Do the calculation as per provisions of capital gain at the time of transfer of capital asset into Stock-in-trade but it would be chargeable in the year when the Stock-in-trade is sold. This is why because we don't have money to pay Tax on the time of transfer but at the time of sale. Then as Suraj sir said just mention it as CG and not GTI as it is right term and you can refer ICAI material illustrations for the clarity. Thank you.
PANTH PANCHOLI
CA Inter
★ 4K+
8
650
Companies Act 2013
Corporate & Other Laws
answered on 20-Apr-22 22:36
What does fiduciary capacity mean ?
latest answer
involving trust, especially with regard to the relationship between a trustee and a beneficiary.
Sakshi Gupta
CA Foundation
★ 5K+
2
462
MCQ's
Others
answered on 01-Apr-22 11:40
Has the MCQ's been amended for May 22 attempt..?
latest answer
Alright thank you
Nikhil Vasanth
CA Final
★ 4K+
4
493
Practice manuals.
Others
answered on 01-Apr-22 07:41
For which subjects I should not go with OLD COURSE IPCC PM's... For nov22 CAINTER attempt.
latest answer
IT
Divya K
CA Inter
★ 885
1
418
Agricultural income.
Direct Taxation
answered on 01-Apr-22 09:30
What if a company is formed to do only agricultural business, Can it have exemptions u/s 10(1)?
latest answer
Yes, provided it falls under the definition of agricultural income
Divya K
CA Inter
★ 885
4
605