An NRI wishes to start a business in India, which is perennial nature. Business will be operated by him self what is the procedure to get GSTIN. Upon various searches I found that a temporary GSTIN will be issued and an advance tax has to be deposited. When the business is perennial in nature how it can be ascertained the advance tax. Is it right if i apply for as normal taxable person. What is the status if the applicant is "Not Ordinarily Resident". Valuable suggestions awaited.

Mother paid money 45 lacs in March 25, 2020 and 10 lacs in June 21, 2020 to buy a flat in the name of her son. Pl. advice me;
1) Who will file 26QB mother or son?
2) What will be the due date of furnishing 26QB?
3) Percentage of interest and for how many days to deposit?

Assessee registered with e-filing income tax in AY 18-19.
After two year(AY20-21) in e-ffiling portal shown PENDING ACTION - NON FILLING OF ITR FOR _AY 13-14 (In AY Tds is deducted Rs.750000).

Assessee does not received any physical /electronic notice from IT department.
Without any notice it is not possible to file (BELATED)ITR.
How to solve the issue.

Assessee filed ITR for AY19-20 in section 44AD and turnover is 580000.
Now want to rectify the ITR and filled under section 44AE - turnover is also higher than previously shown.

Whether it is possible to change ITR from 44AD to 44AE.
ITR IS NOT BELATED RETURN.

The property is sold on 18-12-2019 and capital gain accrues to assessee.

What is the time limit for investing in capital gain bonds for claiming exemption u/s 54EC.

Thanks in Advance.

SIR

We are providing the transport services by road to our parties (i.e) the receiver of service without charging any GST. Under RCM, in case if the receiver of service does not pay gst of 5% or 12 % , as we are liable to pay?
and
In case if they paid, can it be reflected in our gst return?

thanks in adv

The firm imported COVID goods worth Rs. 5 Crore.
The IGST @5% at the time of import was paid on Assessable Value of @5000 per unit of product. The original costing was Rs. 3000 per product.
However, the products were sold at Rs. 2000 per unit and IGST@5% was charged on it. The goods were sold at loss of Rs. 1000 to costing.
There is huge ITC of Rs. 20 Lacs IGST standing in my credit ledger at the end of June 2020.
Can i get refund of this excess IGST credit reflecting in my books?

Dear Expert,
We have formed a company ABC Ltd post in Dec-2019.

We have another company xyz Ltd formed in 2015.
In XYZ Ltd we had taken a land to set up factory and imported some machines from Germany but business is yet commenced.

Now we wish to merge xyz Ltd into ABC Ltd in order to get lower income tax benefit u/s 115BAB.

Please suggest your view.

Thanks & Regards,
M K Agarwal

if a person as individual engaged in Business of Jobwork which has a turnover of 10 lakhs and Income From that buisness is nearly 3 lakh nearly and income from Insurance Commission is 15K and person want to show his business under 44Ad and Insurance income as income from other source?

Which ITR Should that person will have to file and why?

Turnover for FY 18-19 was Rs. 1.2 crores.
Due date for GSTR 3B of March 2020 was 3rd July 2020 and the return was filed on this date. Group B state - Rajasthan.
But the April 2020 GSTR 3B is calculating Late fees of Rs. 500.
Can anybody please help me.