Forums
Why GST Is not levied on alcohol for human consumption?
Indirect Taxation
answered on 09-Dec-24 11:40
Logic behind why government not introduce GST
latest answer
Since state Government makes huge revenue from alcohol.
MACHAVARAM KRISHNA VAMSI
CA Inter
★ 540
3
570
Rajesh surana case
Indirect Taxation
answered on 09-Dec-24 11:44
So will it this be charged under section 7(1)(b)
latest answer
Section 7(1)(b) will not apply since it is not import of service. Instead it is export of service.
Prachi Mane
CA Inter
★ 240
1
490
AS2
Accountancy
answered on 02-Dec-24 08:37
Can someone please explain the calculation of value of inventory?
latest answer
The closing inventory for the month is give as 1.30 lakh. We are using the fifo method so the remaining 1.30 lakh inventory is purchased lastly. So 0.30 is taken from june 1st purchases and remaining 1 lakh is from june 30th purchases
Sagar Kathuria
CA Final
★ 3K+
1
450
Depriciation
Financial Management
answered on 01-Dec-24 16:44
If depriciation value had been given then we will deduct it from both cop and from cost of sales if those were unadjusted.. Right? The reason we should deduct depriciation from cogs is because the sales value also contain depriciation right
latest answer
We deduct Dep from COP or COGS as Dep is a noncash expenditure - it is irrelevant to WC computation in any form Sales does not contain any depreciation - Sales price is just a price; Margin is computed as excess over costs
07- Issac Jolly-XII C
CA Inter
★ 16K+
1
425
AS2 MCQ
Accountancy
answered on 02-Dec-24 17:53
In the answer key, why have they mentioned option (b) as the answer, since option (d) is incorrect MCQ4
latest answer
Incorrect MCQ
Sagar Kathuria
CA Final
★ 3K+
2
455
AS22
Accountancy
answered on 01-Dec-24 12:38
Here how current tax is 20000*40% ,where that 20,000 came from ? ( Illustration 3 ,pg no.7.62 )
latest answer
Ok sir
Devika M
CA Inter
★ 9K+
2
422
Ind AS 105 Non Current asset held for sale
Financial Reporting
answered on 01-Dec-24 12:34
Sir, In measurement principles, Example-1 In year1 Carrying amount= 10,00,000 and FV- Cost to sell= 9,00,000 and Impairment Loss= 1,00,000 and in year2 the Carrying amount= 9,00,000 and FV- Cost to sell= 9,50,000 and reversal of impairment loss= 50,000. My query is that asset is valued at 9,00,000 in year1 and Same value is again in carrying amount in as 9,00,000 in year 2 So, why there should be a reversal of Impairment loss?
latest answer
Originally carrying amount was higher
DIVYA S
CA Final
★ 55K+
1
200
Doubt
Auditing
answered on 05-Dec-24 10:05
If those loans, adv, inv, secu given to any person other than co/firm/llp... In such also this reporting is required right
latest answer
Yes under clause 3 (b)
07- Issac Jolly-XII C
CA Inter
★ 16K+
1
408
Doubt
AFM
answered on 01-Dec-24 07:18
What is the reason for entering into Month contract to buy aud 100000 @ 47.52?
latest answer
There is an original back to back contract entered into by the bank, ( say contract A) based on the forward contract entered into between the bank and the customer ( Contract B) . When customer comes back before due data and seeks cancellation ( Contract B) - the bank cannot cancel contract A. What it instead does is enters into a new contract C with interbank that is exactly in the opposite direction but for same amount of currency as contact A with same due date as contract A. That way on original due date that is after 3 months, contract A and C will cancel each other but each is at a different rate . This difference is exchange loss
RAKSHA
CA Final
★ 0
1
181
Earnings
AFM
answered on 01-Dec-24 07:12
Also when EBITDA itself is 6 Lakhs then Earnings will be less than 6 Lakhs, in answer we have determined earnings as 50,33,333
latest answer
Earnings value is not EPS Earnings value is intrinsic value of share arrived at by capitalising earnings
Hemachandra D
CA Final
★ 9K+
1
483