Hi Sir / Mam,

Good Morning!!

We have RCM on Builders/ Developers i.e. If promoter (Builder/developer) fails to purchase at least 80% of the value of input and input services, from registered suppliers, he is required to pay GST under RCM.

I wanted to know whether EPC (Engineering, procurement & Construction) Company will also be covered under Builders/Developers to calculate the limit of 80% and apply RCM under GST law.

Please help me with the reference of section or rules under GST law.

Thanks and regards,
Devraj Dhwiti

I have applied for DIN and the application has been accepted. On checking with the SRN No., it says "pending for payment". It also says "Please note if the amount is debited from your account do not Cancel the SRN".
My payment has been debited from my account but I am yet to get the SRN. Please suggest what should I do?

Hi all,
GST (under RCM) paid for the month of March 2020 in the month of may 2020 bse of lockdown. When can credit of the same be availed ? whether for the month of march 2020 or for the month of may 2020?

Thanks in advance.

SIR
We are GTA, also registered under GST, but not charging any GST in the invoice for the services providing by us. ------- We are buying bio-diesel from Parties for our own use and accounting the transactions perfectly. My doubt is whether the stock of bio-diesel has to be maintained seperately like the manufacturing unit?

guide me plz
thanks in adv

Respected Sir,

As I have to file 3-B, should I take the data as per 2-B or as per books of accounts. I have found a big difference between 2-B and books of accounts. What to do in such case ? Whether a penalty shall be levied if by the way if some difference is found between 2-B & books of accounts.

My friend has started the new start up and he has purchased the machinery, He has paid 20,00,000 + GST 18% 3,60,000 = 23,60,000- purchases on 01-11-2020. Sales started from 05-11-2020. Total sales is 8,00,000 + 5% 40,000.00 = 8,40,000. ITC purchase is 4,00,000 + 5% 20,000.00. He has registed for GST on 01-9-2020. He has fillied NIL return for the month of Sep and Oct. 

1. Can he claim the ITC of Rs 3,60,000 at the first month of the filing the GSTR 3B?

Outward GST : 40,000.00

Inward GST : 20,000.00

Net Payable : 20,000.00

Less : ITC on Cpiatl goods : 3,60,000.00

ITC c/f : 3,40,000.00 

2. Can he capitalize the asset and claim depreciation on the same?

3. Is there any other restrction on the claiming the ITC on capital asset?

Hi All,
I have 2 house properties. I wish to sell one of that and purchase a new one . Can I claim deduction u/s.54 ? Like sec 54F , section 54 has any condition for claiming deduction.

Thanks in advance

Sir Last fy 2018-19 my turnover 87 lakh and filed tax audit return and shows @5% profit, but this fy 2019-20 is turnover decreased to 61 lakh and slab is also 5 lakh nil can file presumptive us 44ad @ 8% profit. is it mandatory to file five year tax audit. Can i file with out tax audit
Sir Which Form Itr3 Or Itr4
Last Year I filled with tax audit itr 3

Kindly help me to know the tax implication on transfer of WIP from Firm to Partner. One of my client(FMCG Firm) is constructing office building but the land on which building is constructed is on the name of partner. Now firm has decided to transfer all WIP related to office building on the name of Partner. All bills of WIP are on the name of firm.Its the second year of construction My query is whether it will be chargeable to capital gain, WCT, Service Tax, VAT. I have transferred the WIP Balance to partners balance in their profit sharing ration ,I am in opinion that there will be no tax implication as WIP is not a fixed asset so no question of Capital Gain but whether it will come under coverage of any other tax. Kindly let me know if you know regarding it. Thank you in advance.

can i avail GST credit on group gratuity scheme in case of a company. scheme covers risk for life cover and gratuity?