Hi Everyone,
We are Government Contractor and do work contract for Military Engineer Service (MES). We construct Army Cantonment.
We had received Work Contract from GOI in 2005 for Constructing Army Cantonment in Ahmendnagar. We started work and completed half of the work but the due some circumstance could not complete the work. Then we went to Arbitration court and won the Arbitration award for the same work in February 2017 but recd payment in August 2017 when GST was applicable.
As we were Government Contractor we were exempt from Service tax.
Do we have to pay GST on this Award or we are Exempt from paying the GST as the award was passed before the GST become applicable.

Thanks in advance

Dear sir,
Can you please confirm whether following fund dividend is taxable or not? Dividend is reinvested in units daily.

LIC MF Banking & PSU Debt - Direct Plan - Dividend - Daily

Thanks

Rajesh Jadhav

Dear Experts

Composition Dealers are allowed to supply services at 10% of turnover 0r 5 lakhs whicever is lower. Please explain what will be the rate of tax for supply of trading goods and the the services.

Is it 1% for goods and 6% for services

Sir,
If there is no correction after jurisdiction inform the asses see for changing to the correct ITR instead of filing ITR 1 Sahaj for getting the refund but regret to inform that the Assessee is not aware the Income Tax Act as well as ignore due to his illiteracy.Accordingly ITO Assessed as defective return for the Assessment year 2018-19.
Now the Assessee seeking refund for the said Assessment year and what is the procedure for getting the refund.
Thanking You
Buddha deb Das

Sir,

Kindly give the format for HUF Karta and Co openers existing certificate by CA for KYC documents for already existing Saving Bank account.

Will Loan from Government be treated as Loan from Public financial Institution? Also if interest on such Government Loan, if pending repayment, be disallowed under Section 43B of Income Tax Act?

Stay order for paying Rcm Gst on import ocean freight has been granted
by Gujrath Highcourt on 23.01.20. ( Mohit minerals V/s UOI )

In above case Rcm gst is paying or not on Import ocean freight.

Please guide elborately

Hi, we are register under MSME category as a Medium scale Industry and have around 4 plants in india. since we have commence production in our last plant in Aug 2019.
we have approach to DIC office for subsidy claim, but they have refused, due to our all units machinery investment is in more then 10 crore. so not eligible for subsidy claiming.

pl anyone give clarificatiions, whether the total 10 crore limit is applicable for total units in state or total units is in india. also confirm, if any other eligible subsidy like interest,GST.

pl help to clarify.

One I.t. assess Rs.80000/- amount cash credit by capital account.
Doubt:
Capital credit amount tax applicable or no and rate of tax applicable.

Dear Expert,

A company Training Provided under Govt. Scheme. As there is no GST Taxable billing for Outward Services. Inward services received with ITC is not claimed by them.

Did they have to maintain an inward register with Vendor GST Number, tax Rate, GST Amount and show them in exempt services for GSTR3B?

Did they can book the expenses directly including the GST amount as they are not claiming any ITC. This will save unnecessary Data Entry time for Passing Entry in Tally as well as preparing inward register for GSTR3B as required by GST Consultant?

Currently they are passing below Entry
Dr.Professional Fees - 10000
Dr.Input CGST9% - 900
Dr.Input SGST9% - 900
Dr. Professional Fees - 1800 ( CGST9% + SGST9% Tax Amount Expense Out)
Cr.Input CGST9% - 900 (Input CGST9% Reversed)
Cr.Input SGST9% - 900 (Input SGST9% Reversed)
Cr. XYZ & Co. - 11800

Kindly advise, booking of expenses inclusive GST amount, as not availing any ITC for Exempt Supply/Services.

Thank you

Ajay Pandey