sir
guide me - Should the freight be paid by the seller or buyer or it is optional under GST ?
thanks in adv

Can a partner withdraw his share of profit from a partnership firm amounting to Rs 300000, in cash?

one of my client who is State Govt. Dept. has given quarry on lease for extractions of minerals etc...and in contract there are number of terms and conditions and one such conditions is if the lessee violates any conditions, the lesser will impose penalty on lessee...Do i have to collect TCS under section 206 (1C) imposed on lessee who have been caught in illegal mining and quarrying in other words is TCS applicable on penalty on defaulters kindly guide us with ur expert opinion

What is the procedure to form a Local chapter of an existing trust? What are the legal documentations to be done? Whether the Local chapter to be formed as a trust or an association?

one of the client is involving in renting of non-air conditioned bus for occasions like marriages, engagement. So what would be the rate of GST required to be charged as client is not taking ITC on service procured.

DIVIDEND SHOWS BUT NOT RECEIPT MOSTLY IT WAS RE-INVESTED. Will it include in my total income in balance sheet and show it as exempted income in ITR? I am confused and please clear.

Dear Sir,

I am a Tax consultant and used to file my Income tax return U/s. 44AD under individual capacity.

I earn contract income and TDS gets deducted under section 194C which is reflected in my Form 26AS.

From this F.Y. 2020-21, I will be earning a Rent income as well from Commercial property on which TDS will be deducted under Section 194I.

My query is whether I will now be able to file return U/s. 44AD as now I have rent income as well which is considered as business income since it is from commercial property. I will be showing 2 types of Income in my Profit and Loss. Is the 20 lacs turnover limit for GST registration applicable for rent income from commercial property as I am not registered under GST.

Please help me to resolve this matter.

Regards,
Divyesh Jain

Is audit necessary for f&o loss of about 8 lac with turnover of 18 lac. Intention is not to carry over the loss,but at the same time I want to be compliant with rules.

Dear All,

Please clarify the confusion through Illustration below :-

A company has given a contract of Rs, 9,60,00,000 (Excluding of gst @ 28%) to a civil contractor for construction of office Building

The company is engaged in manufacturing and supply of Taxable commodities as has branches through out the country.

"Now we know that under section 17(5) of cgst rule this type of input is ineligible for ITC against your taxable supply"

My question is if we consider the same, it is treated as Fixed Assets(Building) of the company therefore according to my valuation = Rs. 9,60,00,000 + Rs. 2, 68,80,000(GST)= Rs. 12,28,80,000 to be transfered to Building(Fixed Assets A/c)

now at the end of the year on what amount I will calculate Depreciation.......?
Whether, we need to calculate depreciation on the full amount inclusive of gst= Rs. 12,28,80,000/- as I have not availed the input......against taxable supplies.

Or, we need to calculate depreciation on the Amount (Exclusing GST)= Rs. 9,60,00,000/-........................?

Which one is correct.

Dealer sales of jewellery value rs.87,150/- making charges rs.6150/-total invoice value rs.93,300/-
Question:
If dealer composite scheme registered gst applicable value on rs.93,300 or rs.87,150
And rate of tax applicable.
If dealer regular scheme registered gst applicable value on rs.93,300 or rs.87,150/-
And rate of tax applicable.