Forums
Depreciation
AFM
answered on 09-Sep-25 17:05
What is the purpose of deducting depreciation from profits and add back the tax benefits from depreciation in CFAT
latest answer
- Accurately reflect the cash flow generated by the business - Account for the tax benefits of depreciation - Provide a clearer picture of the company's financial performance
Nitin Raj
CA Final
★ 270
2
218
Exchange margin
AFM
answered on 16-Feb-25 11:28
Sir, Kindly advise, why we have not considered exchange margin for swap loss and for forex rate used in interest calculation.
latest answer
Margin is applicable only on cancellation rate, rebooking rate - not on swap rate & int computation rates check pg 10.42 & 43 ill 9 which is the same Q as in P 600+ https://resource.cdn.icai.org/83287bos67342-cp10.pdf
Venkatesh S
CA Final
★ 2K+
1
233
If supply of goods and services to SEZ is deemed export, then GST payable is 0. Then what ITC can the SEZ unit claim?
Indirect Taxation
answered on 19-Feb-25 21:59
If supply of goods and services to SEZ is deemed export, then GST payable is 0 to the supplier. Then what ITC can the SEZ unit claim? Please explain
latest answer
In deemed export, supplier may collect tax and pay to government (or) he may pay from his pocket. If he pays from pocket, then he will claim refund provided recipient does not claim ITC.
Manu Jacob
CA Final
★ 6K+
1
309
Interest Cost
AFM
answered on 15-Feb-25 15:17
Sir , in this question the Interest Cost of the Loan = 6 Months LIBOR (+) Margin of 2.50%, so as it is 6M LIBOR then the said Interest Cost is Per annum cost (or) 6 months cost?
latest answer
Interest cost is always per annum If it is 6 month LIBOR then interest is calculated on per annum rate/ 2 and twice a year
Mohanbabu N
CA Final
★ 3K+
1
191
exempt incomes
Direct Taxation
answered on 19-Feb-25 21:43
sir , i cant find exempt incomes of 10[32] and 10(10bc) in textbook. in which part is it
latest answer
Income from other sources topic.
Sandeep
CA Inter
★ 50
2
208
If value of consignment is less than 50,00 in bill to ship to model, does an e way bill still need to be generated?
Indirect Taxation
answered on 19-Feb-25 22:00
If value of consignment is less than 50,00 in bill to ship to model, does an e way bill still need to be generated?
latest answer
Not mandatory. Even if less than 50K it is mandatory only in case of 1. Job work inter state 2. Inter state movement of handicraft goods.
Manu Jacob
CA Final
★ 6K+
1
228
Taxability
Direct Taxation
answered on 19-Feb-25 21:40
X gets a gifts of house B from his friend C ( SDV is 40,000, however, current market value is 65,000). Since, Selling Price is more than SDV, shouldn’t the SP be considered, thus making 65000 taxable.
latest answer
In case of gift we have to see from receiver point of view. Since the SDV is less than 50K it will not be taxable
Dova Shaji
CA Inter
★ 520
3
220
Admin & selling distribution expenses
Financial Management
answered on 15-Feb-25 12:52
If admin is the b/f in profit and loss account Then why cogs =works cost Then we take calculations as per including b/f of admi expenses in costsheet instead of simply justify cogs=works cost Actually, I took assumption of b/f as depreciation in p&l And in balance sheet after dep net fixed assets value 26,00,000 which is given in question
latest answer
Pls feel free to make own assumptions - only thing they should not make solution complicated and lengthy in ICAI material also they solved exactly what we did in class https://resource.cdn.icai.org/81825bos65985-cp3.pdf check pages 3.66 & 3.77
anju B
CA Inter
★ 21K+
1
195
Closing stock of finished goods
Financial Management
answered on 15-Feb-25 12:48
What about closing stock of rm and clo stock of finished goods in trading account and assumption of same in opening We Simply written balancing amount in overhead as b/f In that cogs 6 percent included for closing fg After that we have to consider remaining balance in overheads ?
latest answer
We make 1 simplifying assumption that solves for most of the issues. If you wish to make more detailed assumptions pls do so and write the same in your answer
anju B
CA Inter
★ 21K+
1
204
Stock of finished goods
Financial Management
answered on 15-Feb-25 14:24
Stock of finished goods are given 6 percent of works cost which is op stock of fg/ cl stock of fg Then why we are simply said cogs=works cost One point about fg they ask right
latest answer
Sure write down all assumptions as part of answer
anju B
CA Inter
★ 21K+
5
158