Question
What does 'VAT' stand for in taxation?
Solution
Value Added Tax (VAT) is a consumption tax levied on goods and services at each stage of production or distribution, based on the value added at that stage. It is ultimately borne by the consumer.
Which of the following taxes is subsumed under GST?
Determine a firm's total assets turnover, if its net profits margin is 8%, total assets are 8,00,000 and the return on investment is 14%
A company issues 50,000 equity shares of â‚ą10 each at a premium of â‚ą2, payable in three installments. On allotment, â‚ą4 including premium is due. On...
How is working capital provided by banks calculated under the Turnover Method?
Which among the following would be classified as a part of Internal Liability?
Section 63 of the Companies Act. 2013 deals with the issue of bonus shares. According to Sub-section (1) of this section, a company may issue fully paid...
Financial accounting is mainly concerned with:
As per RBI’s income recognition policy, under what condition can banks recognize interest income on advances against Term Deposits, NSCs, KVPs, and li...
Which of the following formulae is correct for calculation of Cost of Goods Sold?
During a reporting period, a company’s assets increase by Rs. 80,000,000. Liabilities decrease by Rs. 20,000,000. Equity must therefore?
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