Suppose M/s SS Enterprises. is Civil and Electric Work Contractor Company. His main business is Work Contract Service provide to various Government and Corporate client. M/s SS Enterprises usally get order from Local Body as well as Corporate Sector, Building Developer etc.

Recently M/s SS Enterprises get order from a Corporate Client (M/s XYZ) who is Manufacture of Garments product for Construction, Renovation and Electrical Work of their office cum factory premises. Name of the Service is “Supply Erection, installation and Commissioning”

The Order Value is Rs 87Lakh/- including all like Materials, Service Charge, labor and GST.
Please not all parties are in same state in West Bengal

For Complete the work(Construction, Renovation and Electrical Work -order by M/s XYZ ) M/s SS Enterprises purchase Bricks, Electrical Fitting like Lamp, Wire, Cement, Sand TMT Bar, Ware Rope etc as a raw material.

M/s SS Enterprises not appoint any sub contractor for finished work.

Now the question is :

1/ ls M/s SS Enterprises can claim ITC for those purchases? And what is the restriction of section 17(5)?

2/ How M/s SS Enterprises make Bill? I want to know what is the Taxable value and What is GST amount?

3/-What is the Tax treatment and ITC claim in A/c of M/s XYZ.
4/ Please tell me what is the rate of tax for electrical contractor who Supply Goods & Services to Govt (Govt Works). How to calculate the tax amount. And is ITC available on Purchases?

Hello Experts,

If deductor fails to deduct TDS for F.Y.2019-20, What will be the final TDS+Penalty+Interest payable amount as on date 13-10-2020 for below transaction ? Please help.

Date Particulars Base Am TDS
23/07/2019 PROFESSIONAL FEES 1500 150
15/10/2019 PROFESSIONAL FEES 27500 2750
30/01/2020 PROFESSIONAL FEES 1500 150

Hi all,

One of the client doing Commission agent business of only agricultural produce (i.e buying agriculture produce from formers selling to wholesalers just acts as intermediary )

now his total sale value is exceeded 2cr how this applicability in case of Income Tax ?

Tax Audit applicability ?

Is there any Exemption to this Business ?

if only commission is chargeable to tax then under which head it is taxable ?( i.e PGBP or Income from other sources)

A gst registered regular scheme dealer purchases of 18%tax rate goods Dt:10-09-2020 invoice value Rs:2,36,000/-. from mr. A if dealer same tax rate goods invoice value Rs:2,36,000/- return goods to supplier Mr. A( same dealer) on Dt:15-09-2020.
Question:
Dealer this transition treatment in gst act.

Assessee sold a residential Flat-A on 09-10-2020. He had already purchased Flat-B on 11-12-2018. Can cost of Flat-B be deducted from the sale value of Flat-A for the purpose of exemption under Section 54 of Income Tax Act? Kindly help.

A gst registered regular scheme dealer sales of two b2b invoices Missed reported November and December -2020 in gstr3b and gstr1 in f.y 19-20.
Question:
Dealer this missed two b2b invoicess reported columns number September-2020 in gstr3b and gstr1.

Dear all
A client received 25 Lakh from railway for sale of agriculture land situated in rural area. 50 Km distance from municipality.

But while I am preparing income tax return i have problem where this income is shown ,

Plz help me how to show this income in income tax return.

Thanks

Dear Experts,

We have wrongly reversed the ITC in GSTR 3B under Table 4b in FY 2018-19. It should be adjusted in Table 4A. How can reclaim the reversed ITC. can we adjust this amount in GSTR 9 .

A gst registered regular scheme dealer sales of goods transaction with E-waybill generated.but same goods returned from another dealer (purchaser)without e-waybill generated.
Question:
This sales transactions how to report in gstr3b return.

Can audit report on standalone and consolidated financial statements be signed on different date??

Please someone guide me. I need answer on urgent basis.