inflation

answered 2 days ago

Sir in this question, ICAI has not adjusted the inflation in each yrs revenue and costs. I understand you'd done it similar to an Illustration solved earlier but how do we interpret whether inflation rates are to be adjusted in the CFs (where real/ nominal is not mentioned)

latest answer

Depends on question if icai does not provide clarity yuu have to make an assumption. In this question too one can assume no inflation and work like icai

Priyanka Udeshi

CA Final

★ 14K+

1

21

ITC

answered 1 day ago

While ITC on goods imported by a non-resident taxable person is allowed, why not ITC on services imported by him is blocked?

latest answer

Since NRTP concept is predominantly for goods.

Punitha Krishnaraj

CA Inter

★ 5K+

1

34

Registration

answered 1 day ago

Is my approach right? Will anyone pls suggest me

latest answer

Right. 10L limit will apply only when there are taxable supplies in Manipur, Mizoram, Nagaland and Tripura.

G Creddy

CA Inter

★ 945

1

25

Foreign currency conversion

answered 2 days ago

For foreign travel I paid money of USD 3000. Assuming travel expense from 25th February to 7th March is USD 1500. The exchange rate for this expense need not be constant through the period. So how to decide exchange rate for the expense.

latest answer

You can take from RBI - FBIL rate.

swaminathan sundaram

CA Final

★ 110

4

33

Ind AS 21 foreign currency conversion

answered 2 days ago

Assuming I have USD 2000 receivable on 31st March reporting date. To convert the same into INR from where to exchange rate from RBI website or any other bank wesbite

latest answer

RBI or bank rate or market rate. But it has to be consistent

swaminathan sundaram

CA Final

★ 110

1

16

Registration

answered 1 day ago

A person supply taxable goods in Himachal Pradesh turnover 32cr and he also supply exempt goods in Nagaland 6cr.Is he liable for registration?

latest answer

10L limit will apply only when there are taxable supplies in Manipur, Mizoram, Nagaland and Tripura.

G Creddy

CA Inter

★ 945

6

53

Answers

answered 2 days ago

Where can I find the answers for the questions at the last of every chapter in the notes for ca inter taxation

latest answer

You can get answers in video lectures. In notes there will be only questions.

Gayathri Nambiar

CA Inter

★ 2K+

3

39

Mutual funds

answered 2 days ago

Illustration 8 answer is not 12.64 it is 12.76(12/.94)

latest answer

No. Solution is correct. Please have a re look at formula and our notes P 590. Check icai material page 8.16 too https://resource.cdn.icai.org/74835bos60509-cp8.pdf

abin c s

CA Inter

★ 2K+

1

24

Interview questions

answered 1 day ago

For paid assistant position what are all the areas or topics one should have command over?

latest answer

GST basic provisions, ITC, Income tax heads of income and return filing, Acc Standards, Schedule III, Auditing Standards.

Dhakshana Dhakshana

CA Inter

★ 18K+

1

42

Illustration 6

answered 6 hrs ago

We have arrived the net carrying amount as 10 lakhs after deduction of impairment loss My doubt is Why are we not providing depreciation for the year as we have all the date related to residual value and remaining useful life?

latest answer

Yes.

Vijay Ramesh

CA Final

★ 765

3

31