Dear Experts,
1 A company is availing the engineering consulting service from the serivice provider.
2 The company is registered under GST.
3 Also this company has obtained the ISD registeration with GST Dept.
4 Now the query:
a Whether the service provider able to raise the service invoice in favour of service recipient's ISD GSTIN?

rror while uploading the refund json viz "The return period in uploaded JSON file does not match the return period for which Refund application is created".

I am also getting the same error while uploading the refund json viz "The return period in uploaded JSON file does not match the return period for which Refund application is created".

An individual & his spouse purchased a flat in joint names while they were employed and were resident in India. Thereafter they both went abroad and become subsequently NRIs. But flat in India is still lying closed and is not rented out and is in self possession only and they are not earning any rent etc as it is not let out . There is no loan and no interest liability . Hence following queries:-

1. Are they still required to fill schedule of " Income from House property " in their respective ITRs when income of house property is NIL. OR they are really not required to fill schedule at all , as there is only one property and is in self possession only. ?

2 Are both of them required to show same flat in their individual returns ( as there is only one flat ). as the flat is in their joint names as " co-owners " ,??

3. Is it compulsory to fill schedule of " Income of house property " even if there is one property and that too in self possession and with "NIL" income therefrom.???

4 Will there be any issue foreseen when they will sell this flat some time in future but are not filling schedule of " Income from House Property" of present years when they are still owners.????

Pls guide on above four points assuming that there is no loan interest to be paid .

We have recently started operating a marketplace and would like to seek clarification on the tax implications based on the following scenarios:

Case Scenario 1:

In our marketplace model, we receive payments from international clients, and services are provided by Indian developers. We charge a flat 13% commission and a 5% payment gateway fee (Actual as per Paypal).

Please consider the following example:

Client Payment: 1000 USD (converted to INR, Rs. 82,550)
Service provided by: Indian developer
Platform Fee: 13% of Rs. 82,550 = Rs. 10,731.50
Payment Gateway Fee: 5% of Rs. 82,550 = Rs. 4,127.50 (GST included by the payment gateway provider for their service)
The payment breakup to the developer is as follows:

Client Payment Total: Rs. 82,550
Platform Fee: Rs. 10,731.50 + 18% GST (Rs. 1931.67) = Rs. 12663.17
Payment Gateway Fee: Rs. 4,127.50
Amount payable to the developer: Rs. 82,550 - Rs. 12663.17 - Rs. 4,127.50 = Rs. 65,759.33
Additionally, we need to deduct 1% TDS from the final amount payable to the developer:

TDS: 1% of Rs. 65,759.33 = Rs. 657.59
Net Amount payable to the developer after TDS: Rs. 65759.33 - Rs. 657.59 = Rs. 65101.74

Case Scenario 2:
For payments received in INR from domestic clients, the breakup will be as following. If the developer or service provider is under the GST slab, GST needs to be added or adjusted to the client payment, needs to be mentioned on the client invoice.

Client Payment: Rs. 50,000
Service provided by: Indian developer
Platform Fee: 13% of Rs. 50,000 = Rs. 6,500
Payment Gateway Fee: 5% of Rs. 50,000 = Rs. 2,500 (GST included by the payment gateway provider for their service)
The payment breakup to the developer is as follows:

Client Payment Total: Rs. 50,000
Platform Fee: Rs. 6,500 + 18% GST (Rs. 1,170) = Rs. 7,670
Payment Gateway Fee: Rs. 2,500
Amount payable to the developer: Rs. 50,000 - Rs. 7,670 - Rs. 2,500 = Rs. 39,830
Additionally, we need to deduct 1% TDS from the final amount payable to the developer:

TDS: 1% of Rs. 39830 = Rs. 398.3
Net Amount payable to the developer after TDS: Rs. 39,830 - Rs. 398.3 = Rs. 39,431.7

FIRC/FIRA Considerations:
In both scenarios mentioned above, we encounter issues with FIRC (Foreign Inward Remittance Certificate). Payment gateways or banks will not issue FIRC/FIRA in the name of the service provider; they will only issue it in our name. This means the service providers cannot claim the export of service, even if the invoice is generated in their name and in international currency.


Case Scenario 3:

Consider a different approach where all charges are borne by the client.

Client makes a deal of 1000 USD with the service provider.
We take a 13% commission and a payment gateway fee from the client's payment and bill them for it.
The remaining amount, after conversion, is deposited to the service provider (after deducting 1% TDS).
This approach ensures it is classified as an export of service, and GST is zero as we are charging the client (if international), not the service provider. FIRC in our name will still be acceptable since we will be doing the export of service.

To summarize:

Client Payment: 1000 USD (converted to INR)
Commission: 13% charged to the client
Payment Gateway Fee: Charged to the client
Amount Payable to Developer: (Converted Amount - 13% Commission - Payment Gateway Fee) - 1% TDS

We seek your clarification on the GST, TDS, and billing structure for these scenarios.

Queries:
1. Can I do case scenario 3 for my international clients.
2. Case scenarios 3 will be deemed as Export of service for our marketplace?
3. We have to register for GST even if threshold is below 20lacs, Correct?
4. 1% TDS is deducted on all payments we remit to our service providers irrespective of threshold amount, Correct?
5. We will have to raise 2 invoices, correct me if wrong:
a) One invoice service provider to client (display breakup of GST if service provider is registered for GST)
b) Second invoice on the commission we charge (either client or service provider)
c) Invoice numbering will be different for every transaction? Cause one transaction will have two invoice generated.
6. Paypal or payment gateway charges: How do we bill this? We have no extras in this scenario. But payment gateway guys will only bill us, not service provider.
7. FIRC/FIRA is given on our company name, so in GST we can follow case scenario 3 & will it be deemed export of service?

What is the best approach for us?

Your guidance on how to best structure these transactions for compliance would be greatly appreciated.

For AY 2023-24 would a trust be able to get exemption under sec 11 if the Auditor has filed form 10BB report on 30th Oct 2023 and the client e-verified the same on 8th Nov 2023. If not please provide information as to get exemption thereon.
Thank you.

1.If partner transfer asset purchased under his name to the partnership firm, will RCM be applicable to that transaction?
note that the partner is not registered under GST but the firm is.
2.Does the partner need to issue bill of supply for this transaction? ( as related party transaction is considered supply under GST.)

Suppose ABC Limited has taken a service from XYZ Limited and this service is qualified under Reverse Charge. XYZ Limited has not provided any tax invoice to ABC Limited. Now the issue is:

i) ABC Limited has to discharge tax liability under RCM but it cannot taken ITC since tax invoice has not been issued by M/s XYZ Limited. This is a loss to M/s ABC since they might not be able to avail ITC even if they have discharged GST liability under RCM

ii) If M/s ABC opts not to discharge liability under RCM then will it be a non compliance for them

I request all experts to provide their valuable opinion in this matter

As per Sec 44AB, limit of 1 crore has increased to 10 crores if cash receipts/ payments do not exceed 5% of turnover. Does this apply to a Partnership Firm ?
Suppose a partnership firm is having a turnover of 5 crores and cash receipts/ payments are below 5% of turnover. Thus, this partnership firm will not be liable to Tax Audit for AY 24-25, correct ?

mera orginal pan card mai naam hai sk yearof badsha lakin ITD main automaticlly update ho gaya shekh yearof badsha mere digi locker mai sk yearof badsha hain or e pan mai v sk yearof badsha hain mai reprint ka apply kiya toh bol raha income tax department main shekh yearof badsha update hai mera baki sb id mai sk yearof badsha likha agar main naam change kar k shekh update karunga toh baki sab id main v update krna padega ? ya sk or shekh same hai ?