Forums
Time of supply
Indirect Taxation
answered on 23-Feb-24 16:20
In Q8 there is written that in solution that invoice is issued before removal of good but in question the customer collected the consignment from premises hence there is no removal of goods. We have to write answers like invoice is issued before delivery ! Is my answer right ?
latest answer
Even when customer collected from the premises of supplier it is regarded as removal of goods
Abhishek Sahu
CA Inter
★ 1K+
3
354
Joint and by product
Costing
answered on 23-Feb-24 12:34
In this practical question 4 why have they totally ignored the units sold even though in net realisable value we do units sold less further processing
latest answer
We have to allocate costs only for the production during the period. If produced was only 1000 then how can one sell 2000? Only possible explanation would be that balance 1000 units are out of the opening stock. We need to consider only current period production for appointment of joint cost.
sradha krishna sunil
CA Final
★ 5K+
4
396
Can we expect free days for afm too like fr
AFM
answered on 22-Feb-24 18:41
Can we expect free days for afm too like fr
latest answer
Already provided. Not in future
Ravi Teja
CA Final
★ 20
1
331
Can take ITC for Electric Scooty Purchase....?
Indirect Taxation
answered on 22-Feb-24 18:17
Its purchased in company name and used for fully business purpose
latest answer
Kindly refer section 17(5)
Ravikumar Pandi
CA Inter
★ 2K+
2
413
As-15
Accountancy
answered on 23-Feb-24 13:58
Disclosures given in 1fin material didn't cover all disclosure requirements explained in video lectures. Which one should I follow?
latest answer
OK sir
sitaram kollepara
CA Inter
★ 2K+
2
153
Internal control
Auditing
answered on 26-Feb-24 20:22
Ma'am, how do we answer questions like this ?
latest answer
Read question again
Swathi Krishna
CA Final
★ 8K+
6
346
Materiality , Risk Assessment and INTERNAL CONTROL
Auditing
answered on 22-Feb-24 20:34
Sir, how is this answer possible?
latest answer
controls are actually designed for prevention of frauds and error. However, if you read inherent limitation of internal controls, you will see Abuse of power as one of the limitation. If controls are operational, but top management is abusing its power, Controls cannot identify these matters.
Swathi Krishna
CA Final
★ 8K+
1
338
Job costsheet
Costing
answered on 22-Feb-24 17:52
Practical problem 2 , unable to understand how they computed direct material cost
latest answer
what are you unable to understand? What is the working as per you?
Avantika Rajput
CA Foundation
★ 0
1
310
Bill to ship to model for services
Indirect Taxation
answered on 22-Feb-24 18:17
A from telangana supplied SEVICES to C in andhra on behalf of B from telangana and bill raised on B , whether cgst, sgst to be charged or IGST to be charged
latest answer
It depends upon place of supply which is based on type of service
Sai Vema
CA Final
★ 108K+
1
329
CAPM
AFM
answered on 22-Feb-24 16:01
When CAPM return > expected return - Sell . But when Price as per CAPM > actual price - Buy?. Did not understand the logic
latest answer
CAPM is ideal - this means stock price reflects this return Expected s what is going to happen as per your estimate If capm return is > expected return ( what is likely to happen), it means stock is priced high than what it should be and hence sell. If capm return is <what is likely to happen, stock price is low whereas it should be high and hence buy. Secondly when it comes to only price - IF CAPM price is > actual price - here we are not aware of expected return from our side this means price as per ideal is > what is available in market so buy
shamanth rm
CA Final
★ 2K+
1
270