Under the Companies Act 2013, the 'Independent Directors' must hold a special training as per Section 149. Who is exempted from this training requirement?
A.No one is exempted
B.A person who has been a director for more than 10 years
C.A person who has already undergone the training or is a whole-time director in a listed company
D.A qualified Chartered Accountant or Company Secretary
Explanation:
The Companies Act exempts individuals who have already undergone the prescribed independent director training, or those who are already serving as whole-time directors in listed companies, from the mandatory training requirement.
S1: Under GST, the 'Input Tax Credit' (ITC) on goods lost, stolen, destroyed, or written off is not available. S2: ITC on goods used for personal consumption is fully available. Which statement(s) is/are correct?
Explanation:
S1 is correct as per Section 17(5) of the CGST Act; ITC is blocked for lost, stolen, destroyed, or written-off goods. S2 is incorrect because ITC is explicitly blocked for goods used for personal consumption.
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