In case goods disposed off by way of free sample:
In the case of goods disposed of by way of free samples, the supplier cannot claim Input Tax Credit (ITC) because no consideration is received for these goods. ITC is generally available when there is a taxable supply for consideration. Since no consideration is involved in giving away free samples, the supplier is not eligible to claim ITC on the tax paid for those samples.
A microfinance loan borrower is identified as a household having annual household income not exceeding ………………&...
Lee opened his new business on 1 January 2016. On that date, the only asset was a bank balance of $10,000.
During the year, Lee’d drawings...
When the equity shares are issued at a price above the face value, the excess price received over the face value of shares, is credited to which of the ...
The Reserve Bank has imposed a penalty of Rs 2.5 crore on ______ for non-compliance with certain directions, including one related to 'time-bound implem...
The managerial leadership style is better known as ___________
What does the principle of sustainability in business ethics emphasize?
If the Current Assets are less than Current liabilities by 5000, what is the amount of Net Working Capital?
S Ltd. took a loan from the bank for 10,00,000 to be settled within 5 years in 10 equal half yearly instalments with interest. The first instalment is ...
Which of the following transactions /items will influence the trial balance agreement?
Which of the following most likely increases the wealth of shareholders?