In October 2019 I mistakenly took ITC of 1.60 lakh of IGST and used in total rs.12000 for the liability of CGST and SGST in October and November, in December I reversed 1.60 lakh, out of which i had remaining credit of 1.48 lakh IGST and remaining 12000 with cgst credit... will there be any interest liability on me?
Respected sir, my friend had compensation amount of Rs.55 lacs without tds from Power Grid Corporation of india for Power Line Corridor through over his residential vacant land. My question is the amount is taxable or nontaxable. Kindly clarify me sir.
Regards
Jack Arul
Dear sir,
My query is on issue on inter state issue of tax invoice with out Gst registration
1. can person with out gst registration provide interstate service
Kindy provide provision on the same.
Dear sir
If i sale Goods As donation and , what would be the sale entry ??
What is the limit for donation sales ??if cash or Bank ??
Please suggest me
Thanks in Advance
Madhu
I have a question for my study purpose.
What are the tax implications of gifting 50 lakhs to spouse? If the husband is retired with no pension, and only has a savings of 1 cr. If he gifts 50 lacs to his wife and they both open FD.
My client has turnover of 1.55 Crore (business of furniture retail). Out of this, commission is 15 lakh (TDS deduction on it u/s 194H). This commission was for orders procured to OEM from the market. Out of total turnover 1.45 crore receipts through banking system and 10 lakh through cash. Purchase & Sale record available, GST returns filed. No record of banking transaction. Questions are:
1. Is audit compulsory?
2. Can I file ITR under section 44AD (considering commission component in turnover)?
3. How can I save maximum income tax?
4. Which form should be used to file ITR?
One of my clients is a Bank Manager. He has received arrears of salary on an ad-hoc basis related to past years. The full amount is yet to be calculated by Bank which they will credit in the coming year only. Now the bank has not mentioned the AY/PY related to which the ad-hoc amount has been paid. In Form 16, the amount is shown as Other Income.
Kindly guide how can I claim sec 89 relief in the above scenario?
PLEASE, PROVIDE RIGHT MAIN DIVISION OF INDUSTRIAL ACTIVITY OF THE COMPANY FOR SECURITY STAFF PROVIDE RELATED SERVICES FOR NAME RESERVATION.
We're getting the below message while filing GSTR 4, even though we have filed all the CMP08 for 2019-20 and first quarter of 2020-21 (Apr-Jun'20), What could be the issue?
"you are not eligible for saving/filing gstr 4 since you have not filed cmp08 for the last quarter"
Please suggest.
Dear Members,
Plz guide in respect of TDS, GST treatment on payment made to ZOOM Communication Inc. by a Indian Pvt. ltd company?
6 days Certification Course on GST Practical Return Filing Process
ITC WRONGLY TAKEN AND THEN REVERSED