Sir,

Please confirm RCM is applicable on a commission agent/Broker or Not, Like (Credit Card, Loan, Etc.) and confirm who is liable to pay GST,(Bank or Agent)

We are planning to convert our LLP into the Private Limited Company. Right now, in LLP, we are applying the Depreciation method as per Income Tax Act. Hence, at the block of asset level, we have the WDV. We do not have the asset wise value like Purchase cost and WDV.

How to treat the same while we convert the LLP into Private Limited company because as per the Companies Act, we need to follow the useful life method ?

Can anybody help in this matter?

Column 14A to 14Q of GSTR9C is also Optional or only 14S of GSTR9C??

I received a service of job work on Billed on 08/06/2019 and Payment on 25/12/2019. Now What to do in next GSTR 3B.

1)I am hiring a transporter who is not registered and only one vehicle can I required to pay GST agaisnt RCM?

2) Can I take Credit of RCM if i paid GST @5% on GTA Transporter

CSGT & SGST wrongly paid in GSTR-3B instead of IGST. How it's rectify. GSTR-1 not yet filled yet for such period. ( Can I show it in GSTR1 correctly as IGST?)

Dear Sir/Madam,
Please help to solve following

We import material from "A" supplier but at the time file Bill of Entry customs file on "B" name of supplier
Now our query is we had Paid advance to "A" and we get BOE in the name of "B", so how we can able to make payment to "A" and close BOE in IDPMS bank record

I hope understand my query


Thanks in advance

Nilesh

A gst registered workcontractor notice received form gst DRC-01A sec73(5),74(5) from state gst office.
Tax period: 2017 _2018 to 2019_2020
Turnover:34,34,000/-
Tax:411840/-show in GST DRC-01A
My doubt notice show in tax amount paid compulsory or not.

Dear Sir / Madam,

One of my client has received a credit note from supplier , please explain treatment in brief manner.

Dear Sir,
My Client is an individual, he has made an agreement to purchase/sale of a commercial shop with a builder, and details of the agreement are as following:
1. Paid 10% of purchase consideration as advance through account payee cheque on the date of above agreement.
2. Date of agreement was 1st October, 2015.
(Amount in Rs. per Sq. Feet)
Particulars Date (on) Purchase Price circle rate Valuation Officer Agreement to purchase/sale 1st Oct, 2015 5000/- 7,000/- 5,200/-

Gifted 50% of his share to his son
(i.e. 5% of purchase consideration) 1st July, 2017 - 8,000/- 6,000/-

Balance 45% payment made to builder by
the individual 2018 & 2019

Balance 45% payment made to builder by his
son from their own sources 2018 & 2019

Registration of this shop was executed in
joint name 1st Nov, 2019 - 9,000/- 7,000/-

3. Purchase price was settled @ Rs. 5,000/- per Sq. feet.
4. Stamp duty value (circle rate) on 1st October, 2015 was Rs.7,000/- per sq. feet.
5. Value assessed by Valuation Officer on 1st October, 2015 was Rs.5,200/- per sq. feet.
6. He has gifted 50% of his share to his son on 1st July, 2017 (i.e. 5% of purchase consideration) & after completing the formalities, the builder enter the name of his son in the agreement. Now both names are appearing in the agreement.
7. Stamp duty value (circle rate) on 1st July, 2017 was Rs.8,000/- per sq. feet.
8. Value assessed by Valuation Officer on 1st July, 2017 was Rs.6,000/- per sq. feet.
9. Balance payment made to builder by the individual (45%) & by his son (45%) from their own sources in the year 2018 & 2019.
10. Registration of this shop was executed in joint name on 1st November, 2019 & circle rate on that date was Rs.9,000/- per sq. feet.
11. Value assessed by Valuation Officer on 1st November, 2019 (date of registry) was Rs.7,000/- per sq. feet.
Kindly advice whether any income chargeable to income-tax under the head Income from other sources or under any other head to the following persons for their 50% share each in the shop:
a. The Individual.
b. His son.
Regards,
Thanking in advance,
K M Goyal (FCA)
M No.: 9899799000