Question: 1. What are allowances? Explain one with example when it is considered as taxable. 243 =5 marks 2. a) What are benefits? Name a few

1. What are allowances? Explain one with example when it is

1. What are allowances? Explain one with example when it is considered as taxable. 243 =5 marks 2. a) What are benefits? Name a few benefits. 3 marks b) Explain with example when benefits are taxable or non taxable 3 marks 3. What is GST Payable and GST Recoverable accounts? Explain with example

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