Dear Experts,
1 A company raised the purchase order its servoce providers towards availing the Advertisement services
2 At that time, the service provider was a GST registered person.
3 After that, the service provider's GSTIN was getting cancelled.
4 Now the supplier has raised the invoice without leving the GST components.
5 In this case, whether RCM will be applicable for this transactions or not?
6 Pls clarify

"Creditors for expenses" will appear under which head and sub head of balance sheet?
Will it be under sub head of "trade payable" or sub head of "Other current liabilities"

What is the tally entry for sweep in credit and Interest on sweep in credit from fixed deposit account mentioned in current a/c statement

I have purchased car battery by gst bill.can I claim input credit as my car is used for office purpose and isin my company name . Pl advise can we claim input tax credit in our gst returns.

There is a company whose register office if in Bihar and doing business of trading me medicine , Now they want to start a new business of event management and that also in Jharkhand. I have to alder Object clause, does I have to inform ROC for branch office? as I have apply for GST registration in Jharkhand for event management

Dear All,

The Assessment Unit of the Income Tax Department made an assessment for the Assessment Year 2018-19 under section 147 read with section 144B on 14.02.2024 and a Demand of Rs 1,62,256 is raised. The demand is raised without giving credit of the self assessment tax paid on 07.04.2023 at the time of Filing Return of Income U/s 148 i.e. Rs. 60,917.

Rectification petition for credit of Rs. 60,917 has been filed with the Jurisdictional Assessing Officer and is pending for processing.

Balance Demand Rs. 1,01,339 (1,62,256 – 60,917) paid within 30 days of demand raised. Now, I am unable to file the application U/s 270AA (Form 68- Immunity from Imposition of Penalty).

In Point 8 of Form 68--- “Details of amounts paid”, since the date of amount paid as self assessment tax at the time of Filing Return of Income U/s 148 is before the date of service of order so an error message is displayed as “Error: Please enter valid date of deposit and it cannot be before date of service of order”

What course of action should one take in such a case so that the Form 68 is successfully filed for grant of Immunity from Imposition of Penalty?

One of the options I feel is to wait for the processing of rectification filed with the Jurisdictional Assessing Officer so that the demand gets reduced and the credit of Self Assessment Tax is given.

What are the other options available?

Please suggest.

RESPECTED SIR
TDS DEDUTED AS PER OLD TAX REGIME FY 23-24 BY EMPLOYER, CAN BE FILLED INCOME TAX RETURN AS PER NEW TAX REGIME AND CLAIM TDS REFUND? PLEASE ADVICE THANKS

Hi
I have received GST ASMT 10 notice for FY 19-20. Notice mentioned excess ITC claimed.
So what happened is i have received debit notes which should be claimed by deducting from sale figure in 3b but i have claimed those in ITC.

Should i submit those credit notes as reply or pay amount mentioned in notice?

Sir, whether HSN code is mandatory for a dealer whose annual turnover is less than 1.5 crore ?

Dear Sir

I have invested Rs.220000/- in Mutual fund Via monthly SiP and some Lumsup amount and invested RS.100000/- in Stock also approximately 6 Transaction in 6 months. Its high value Transaction Can i face any notice issue from IT Department. My earning source from Salary I am regular filling ITR but invest in Stock market First Time. so Please suggest Accordingly.