Sir/Mam,

We have purchased good from one party crossed above 50 Lakhs , now my doubt is our turnover both Fy 2022-23 and 2023-24 below 10 crores we have to deduct 194Q @0.1% Tds or not

TCS or TDS applicable plz clarify

Thanking yo,

My company has opted U/s. 44AD & net turnover for the year is ₹10Lakhs in which payment rec'd via bank channel (Online & Cheque) is ₹6.5Lakhs + Cash - ₹1Lakh + TDS - ₹20K + Bad Debts - ₹13K & Outstanding is ₹2.17Lakhs.

Please guide in which tax slab (6% / 8%) I have to put TDS, Bad Debts & Outstanding amount.

Assessee provides canteen facility for around 150 Workers and 20 Staffs.

They are recovering Canteen charges from the Salary of Workers and Staffs.

Related party(Pvt Ltd) is providing the Canteen Facility.

Assessee recovers the Canteen charges from Employees and then pays the Related Party.

Whether GST is to be paid on recovery of Subsidized Canteen charges.

I have collected pre-publication charges and issued receipts to the customers. No invoice has been issued yet. Since the book cost is reduced, I have to refund the excess amount collected.
Kindly let me know whether I have to issue a refund bill and how the transaction is accounted in the books

Dear Sir/Madam,

would like to know from when is e-invoicing applicable to a company if the turnover of the company in the current financial crossed 5 crores mark in the month of October 2023 and the present turnover is 11 crores, where as in none of the previous financial years it was never above 3 crore mark.

Do we need to start the e-invoicing with immediate effect or do we have an option to do it from 1st April 2024?

Request you kind advice on the same.

Thanks in advance.

Regards
Mohith

A Pvt Ltd company is still in R & D and Prototyping phaze, so capitalising it's all expenses but in same phaze company received an order and ready to pay 100 % against PI,and sale is not yet done or booked (sale invoice), in this case can company still continue capitalsing expenses? And at exactly what stage company should stop capitalising R & D expenses i.e. when received PO, company raises PI, received money from customer, raises sales invoice or when actual sales, please guide 

Dear Expert,

We have paid custom duty including IGST part on 24th Feb, 2024 and IGST is showing in our 2A, and the material has arrived at Factory premises on 03rd March 2024.
Pls resolve the below queries :-
1) In which month we have to take ITC.
2) If it is March-24, should we show the IGST in Table 4(b)(2) - Temp reversal or reduce the available IMPORT IGST by this amount.
3) during re-claimable in which tables we have to show this amount.

Kindly advice

let x ltd is the business engaged in bus travelers and their tickets are booked through online platforms y ltd like redbus or Abhibus etc here Ticket price is 1000+5% GST charged to the customer will be received by y ltd. y ltd will deduct their platform commission of 10% which comes to 100+18% gst = 118
here y ltd will collect 1050 and remit 932 to x ltd (1050-118)
from the above case y ltd should disclose its income as 100 +18% gst but if in case y ltd has not disclosed the full amount 100+gst instead, they disclosed 50+gst in their GST returns
In this case, how does govt have a track that the income is leaking here and there is no control ( specifically by notification tds u/s 194h is not applicable in this case )
how can govt track a case like this or what are the possibilities to track this leakage.

I just want to know time barring date for assessment of individual for FY 2020-21,21-22 and 22-23 along with extract of relevant sections.

Sir,

Please solve my below query
our one of the employees is already registered for ESI before three year but last year he is cross the maximum limit of Gross salary ie. Rs. 22000/- now is salary is reduced due to his performance last year is not upto mrk hence his salary is reduced by Rs. 2500 now is Gross salary is Rs. 19500 .
now is again eligibility for ESI please clarify for registration process
we tried his registration using his old ESI number but which is date of appointment is mention while registration in software old actual date of employment is not taken because old date is last 4 years.

Please tell can we registration his esi for date of appointment is today date ?

Thanks & Regards