Sir,

Gst registered regular scheme dealer
Purchases f.y .2019-2020 rs.50 lacs
Sales f.y.2019-2020 rs.20 lacs only.

closing stock value rs.32 lacs and input credit rs.1,50,000/- as on 31.03.2020.
Question:
1.any rule time limit to sold the stock in gst act.
2.Input credit claimed rs.1,50,000/- shown in credit ledger if any problem.

A business man running a covid centre for Covid A symptomatic patients in a lodge which belong to his friend. For this, business man paying lumpsum amount to his friend every month. At covid centre business man providing visiting doctor service, full time staff nurse service and catering service every day. My question is , whether businessman should take GST registration or not?

Assess car expenses rs.28,500/-
And car depreciation rs.50,650/-
Question:
Assess bifurcation producure of above car expenses and car depreciation personal used and business used claimed in I.t. act.

Client is a cement dealer. He is getting issued credit notes by the company on the last day of every month

Q1: How do I show credit note in GSTR-1 and GSTR3B, Do I have to issue Debit notes back to the company

upon further finding the company has been issuing credit notes from almost a year. What is the procedure needs to be done/followed in order to reverse the ITC

MY ORGANISATION IS TAKING A HEALTH INSURANCE FOR ALL ITS EMPLOYEES. TOTAL PREMIUM AMOUNT IS APPROX RS. 10LAKHS.

IS TDS AND GST TDS REQUIRED TO BE DEDUCTED BEFORE MAKING PAYMENT.

We are TRanspoter, we use the service of container corporation of india fo carrying our goods through railway.they billed us as railway freight. my question is wether we are liable to deduct tds on payment made to them ????

I am proprietor paying salary to Mr.A Rs.372000.00 and Mr.B Rs.283000.00 in the FY 2019-20.

My question
(i) Should I have to deduct TDS or not?
(ii) what is the amount of TDS?

Please reply

Please Help Experts....

The rate of TDS following two nature of payments is reduced to 2% instead of 10% under section
194J from 01-04-2020 by the Finance Act, 2020:

1. Fees for technical services (not being in the nature of professional services).
2. Royalty where such royalty is in the nature of consideration for sale, distribution or exhibition of cinematographic films.
For others, the 10 per cent rate of TDS shall continue to apply.

*** As per this changes We have deducted TDS & deposited as per applicable rate of 2% for Technical services, Filed 26Q for Q1 F.Y.2020-21.

But 26Q is processed with defaults of short deduction of TDS.
Default summary details shows payable amount of short deduction of TDS with Interest.

Kindly suggest , What to do ?

Sir
A proprietor gets the bill from a private limited company for availing the transport services by it on the basis of sub-contractor. While making payment, Can the proprietor deduct the tds on the payment to be made to the company if there is no TAN Number?
If yes, should deduct tds @ 2% on the name of the company
OR @1% on the director as he is the owner of trucks?
thanks in adv

Hi,
I have filled TDS return for Q4, FY 2018-19. In which TDS of one Contractor has been credited to another contractors PAN.
Now, How can I make correction ? Is it possible to correct the same now ?