CAclubindia

Queries Replied : 26053

Hi.I am Ramesh Krishnan, Associate Memeber of ICWAI & Certified Management Accountant (CMA) by IMA(USA) Working in Bangalore

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SATHISHKUMAR says : Composition Scheme for Intermediary Services
A person was engaged in providing intermediary services to Foreign supplier and he gets commission for such services as consideration. Since place of supply for intermediary service is the location of supplier, he is liable to pay GST on such commission income. Can he opts of Composition Scheme under Sec 10 if his turnover is less than Rs.50 lakhs?

devika jauhari says : Hi
Have a query, one of the partner of a firm is withdrawing capital from the firm and depositing in his saving account and from saving account transferring to his current account opened for proprietorship concern. How do I record capital contribution entry in his proprietorship concern? Won't the money transferred from saving account to current account be treated as contra?

Surajit Sarkar says : GST
Gst Annual Return form Table - 8 , column (E) ITC available but not availed & (F) ITC available but ineligible. I don't understand two things . Kindly explain with example.

monika says : SUPPLY TO GOVERMENT ENTITIES
SIR SUPPLY TO GOVERMENT ENTITIES (WHO HAVE GSTIN AS TAX DEDUCTOR) CONICEDER AS B2B SUPPLY OR B2C SUPPLY ? AND IN WHICH TABLE OF GSTR 1 SOULD BE FILL B2B OR B2C ?

sachin says : Ex-Gratia (Severance Pay ) Taxble or Exmpted ?
Ex-Gratia (Severance Pay ) Private Employee is employee in The Hand Taxble or Exempted Which Section Application ? Excluding Retirement like .Gratuity,Encashment,Bonus and Notice Period Payment Is Amount Ex-Gratia Taxble Or Exempted which Section ?