My employer had deducted TDS from my Salary Rs 4800/month during FY 2019-2020 and has miserable failed to deposit the same to the Govt and has not filed the TDS Returns of the same.

I don't have that much excess amount to pay my tax liability, due to which i was unable to file my return for that particular Fin Year. My employer said that he will deposit cash equivalent to my account to settle my tax liability. But that was just mere a fake promise.

Due to above reasons i was unable to file my returns for FY 19-20. How can i file the return for FY 19-20. Due to delay in previous year's return i also have not filed ITR for FY 20-21

Is there any circular issued by any statutory body of India, where the Identity (KYC) documents list is provided for the guest checking in a Hotel/Resort??

On our exports on CIF basis, we are required to declare freight and insurance on the shipping bill so that the correct FOB amount is available to work out the drawback amount. At the time of export, we do not know the actual freight or insurance amount. So, we declare it on an approximate basis.
We are making export invoice with IGST @ 18%
Now, my question is
1. If we include Freight and insurance in Export Invoice, whether it would attract GST? And such GST is payable?

IF YES;
In GSTR – 1, in table No.6A, taxable value goes basic + Freight + Insurance and same for IGST amount.
For Example
Export Goods Value – RS.100000
Freight Expense – RS.15000
Insurance Expense – RS.10000
Total – RS.115000
IGST @ 18% - RS.20700 (ON RS.115000)
Now, the refunds of IGST are adjusted on FOB basis that means IGST paid on Freight, insurance are not refundable so on ICEGATE taxable Value will be RS.100000 and IGST amount will be RS.18000 (18% of 100000).
Hence, it will create mismatch among invoices shown in table 6A and invoices on ICEGATE.
IF NO:
If we don’t charge GST on Freight and Insurance in Export Invoice. Will it be okay? And can we show Freight Insurance Amount in GSTR – 1 in 0% tax rate field?

Please guide us above case for Invoicing, Accounting and GST Return.

Can anyone please suggest SAC Code for an Online Aggregator who is providing Online Platform for Sell and which provides all sort of information through online portal.

Hello,

Holding company(Indian) need to write off investment in shares done in subsidiery company(registered in USA) as subsidiery is shut down.

Question:
Will this loss be treated as Capital Loss or a business loss.
What will be the accounting treatment for the same in the book of holding company.
What disclosure is to be made in Notes to accounts of a holding company as Tax audit needs to be done for the same.

Respected Expert
Please guide

What is rate of CGST & SGST for goods having HSN 61112000

How many digit HSN to be given in Invoice & GSTR-1 if GST registration is taken from August 2021. Turn over till now in less than 10,00,000.

Thanks & Regards

ASSESSEE RECEIVED RS. 8 LAC LICENCE FEE FROM SMALL MILK VENDERS(GST NOT APPLICABLE ON SALE OF MILK ) ON BEHALF OF COMPANY AS LICENCE FEE AND PAID RS. 8 LAC BACK TO COMPANY AS LICENCE FEE. WHETHER TDS APPLICABLE ON PAYMENT OF LICENCE FEE TO COMPANY (WHICH IS RECEIVED ON BEHALF OF COMPANY ITSELF). ASSESSEE BOOKS ARE SUBJECT TO AUDIT AND IS WHOLESALER OF MILK, TURNOVER 7 CRORE. ALL THE VENDORS ARE SELLING MILK OF THE SAME COMPANY.

what is time limit to issue debit note and credit note under GST.

Can you share how the own credit is calculated on financial instruments issued by the firm and how the changes in own credit is calculated for the change in own credit from date of issuance of the financial instruments to the reporting date (production date). One way to measure it is change in own credit = TV (Mt, Ft) - TV (Mt, Fi) [i] where, TV(Mt,Ft) : theoretical value of the financial instruments using backbone curve on the production date Libor + Own credit spread on the production date TV(Mt, Fi) : theoretical value of the financial instruments using backbone curve on the production date Libor + Own credit spread on the issuance date. But, the above approach has limitation in following hypothetical scenarios : let us assume Own credit curve on the production date and issuance date remain same but it's constituent changes. In that cases, the calculation will not correctly capture the own credit change: Production Date Own credit : 5% Libor : 4% own credit spread : 1% issuance Date own credit:5% libor : 3% own credit spread :2% in the above hypothetical scenario, if we put in the equation [i], the issuance date TV will be based on 6% (4% + 2%) your response and sharing will be highly appreciated.

Read more at: https://www.caclubindia.com/forum/own-credit-adjustment-treatment-under-ifrs9-586310.asp

Sir
I have 5 residential house property ( including this 1 plot + 4 Flat ) which was purchases by me in past. Out of 5 residential house property i am going to sale 1 property ( plot ) .
As per my calculation Rs 40 lakhs long term capital gain will be arise on such transaction.
So i have a question that , can i reinvest such capital gain in another new a residential house property even i have hold 4 house property ? Please explain rule regarding number of residential house property.