Respected Sir,

3(b) Interest on late payment 22500.00 0.00 22500.00
3(c) Additional late payment interest against the processing of latest correction 25011.00 0.00 25011.00
Total Rs 47,510 we are required to pay on account of interest. Please let us know how to make on line payment of the said interest. What is the procedure ?

ASSESSEE HAVING TURNOVER MORE THAN 12 CRORE IN NORMAL BUSINESS AND HIS BOOKS ARE SUBJECT TO AUDIT IN F.Y.19-20. HE ALSO TRADE IN DERIVATIVES (INTRADAY) IN WHICH PURCHASE AND SALE OF SHARES ARE OF RS. 58 CRORE AND SUM TOTAL OF PROFIT AND LOSS TRANSACTION IS 20.00 LAC . I WANT TO KNOW 1. WHETHER HIS SHARES BUSINESS WILL ALSO BE AUDITED. HIS ACTUAL LOSS IS 3 LAC FROM SHARE BUSINESS. 2. OR WE CAN SHOW IT AS SPECULATION BUSINESS AND SHOW 1.20 LAC AS PROFIT IN ITR (6% ON 20.00 LAC). PLEASE SUGGEST

in date of aggrement which date to mention on which amount is received in books or date of Sale deed?
WHich option to select payment made lumpsum or installment as we have make payment in 2 installments but in same month.?
Total amount paid/credited-Which amount to mention as still Rs.20 lakh is to be paid to Seller but we have deducted TDS on whole Sales Consideration

We as importer will raise LC in favour of foreign supplier. Conventionally, signed PO + Order Acknowledgement with bank account details are required for writing LC. However, suddenly , concerned team additionally ask an invoice in the form of a statement which will specify (i) the
material to be supplied and (ii) the amount payable through LC as per the
order with complete bank details.

As supply will take place after one year, is it justifiable to insist on Invoice- which supplier denies.
Please guide
Rgds
Jayanta
7.10.2020

Dear Experts,

If I buy 2 properties from a single seller, one is above 50 Lakh & second is below 50 Lakh. What will be a TDS treatment? Will both be considered for TDS or only one which is above 50 Lakh?

Please consult me on priority.

Assess Rs:1 lacs rental income from own property.but Assess bank account credit rs:25,000/- remaining balance Rs:75,000/-(25,000× 3 ) assess relatives bank account credit.
Questions:
1.Above transtration allowed in i.t.act.
2 assess rental income rs:25,000/- or 1 lacs per month in i.t.act.

Respected Sir,

Where is available on gst site both the captioned forms :

CMP08

&

GSTR-4

We are in Petrol Pump business.
What is the correct procedure to comply with TCS u/s 206C (1H) :-

(1) We should add TCS in every bill of eligible customer.
(2) OR we should calculate TCS on payments received from party on monthly basis.

(Note :- Our principal company, HPCL is charging TCS from us, on every bill)

Dear Sir

We have export material to UK, against export we have recd TWO invoice from our Clearing & Forwarding Agent.
1 Bill for DG repacking including GST
2. Service bill with GST-

My Query whether we have to deduct tds u/s 94c on DG repacking Invoice or not


Please help me

Sir / Madam,

We have do job work to some parties (say convert cotton into cotton yarn). As we are manufacturing yarn under jobwork we should receive raw materials from the jobworker and convert them into yarn and dispatch the finished products to them. Sometimes the situation may be aroused that the quality of rawmaterial sent by our jobworker is not suitable for their required quality of finished products. For curtail the loss of production we have to immediately issue our owned rawmaterials to the production and send the finished product to jobworkers as their required quality. In this juncture we need advise on the following points which one is best:

1) Whether can we raise an invoice for the rawmaterials used for the jobworks with GST tax in the pattern “bill to” jobworker and “ship to” our company / factory address? (There is not movement of goods)

2) Or can we raise a debit note to the jobworker with GST tax as there will be no need for quoting bill to / ship to components?

3) If these are wrong then any other correct options?

4) Shall it break jobwork nature? Will any litigation araise?

Kindly advise us.

Advance Thanks,

With regards,
Bazeer L