Question
What is the minimum default amount for initiating CIRP
for MSMEs under the IBC?Solution
Under the IBC, the minimum default amount required to initiate the Corporate Insolvency Resolution Process (CIRP) is ₹1 crore. This ensures that the insolvency process is used for larger, more systemic defaults and excludes smaller defaults that may be better handled through other means.
An auditor resigns from a listed company. Within how many days must they file Form ADT-3?
In variance analysis, which variance helps management identify whether quantity of materials used is efficient?
What is the minimum outstanding balance in a non-performing borrowal account that requires reporting as a willful default?
Under the Expected Credit Loss (ECL) model, how are trade receivables without a significant financing component measured for impairment?
Within how many days an employee can apply for gratuity from the date when gratuity becomes payable?
Which of the following assessee is not liable to pay advance tax u/s 207?
What is the rate of subsidy under PMEGP for a General Category beneficiary setting up a project in a rural area?
Sales = Rs. 50,000/-, G.P. on sales is 10%, Purchases 40,000/-, Opening Stock
= 70,000/-, Find the closing stock.
This kind of audit is conducted generally between two annual audit ______.
What is the taxable event under GST?
