We have Manufacturing Company (Pvt Ltd). We purchase our Raw materials from another manufacturing company. They send materials to our factory by their own trucks.

They issue two type of Invoice one is Materials Invoice and another is Freight Invoice.
Now Question is:
Q1/ Can a manufacturing company issued separate Freight Invoice? Is manufacturing company fall under GTA service Provider?
Q2/ What will be the rate of GST on freight Charge?
Q3/ Can we take ITC from Freight Bill?
Q4/ is RCM applicable for me?

Please Guide me

Dear Sir,

From our Company we are paying 25000 amt to one of our Employee as a gift to his marriage. How to pass entry for this ?

Thanks
Bharath

One of my client want convert Sole proprietorship into Private Company. He started Sole proprietorship in this year and also want to convert to private company in this year so whether it is lawful ? if yes whether expenses incurred in the business upto conversion can be carry forward to company income tax return ? please say the Conversion Process.

Dear All ,

Any income tax provision applicable. if director giving interest free loan to it's company . and company not paid any interest to director . and director borrowed loan amount from bank on his own account.

Dear Sir, we are received a labour contractor invoice of 1,85,000 and i paid 1,55,000 by cheque (TDS Deducted ) and rest 30,000 in cash ( 5000 * 6 in diff. dates ) . so should i deduct tds on cash payment (30000) or not. please suggest me.

Thank You.

Hi'

I would like to have clarity on the following with respect to Income Tax calculation for the financial year 2019-20:

1) What is the maximum deductions that shall be shown
2) Shall we claim Housing Loan - Principal / Interest for 2 properties at a time
4) Shall we claim medical expenses of in-laws for a women tax payer
5) Standard deductions for HRA
6) Standard deduction for women employer
7) Any other standard deductions that shall be claimed

Any one pl. support me

If annual return for FY 2017-18 is not filed bcz.of it has been made optional for them whose Turnover is less than 2Cr.(in fact T/Over of FY 17-18 was < 2 cr.) So my question is Can I able to file annual return for FY 2018-19 if my T/Over is more than 2 Cr. In this FY(2018-18).??

I will tried for set off IGST with SGST in GST portal ,but it is not adjustable, What is the problem........?

In ESOP we transfer the excess of amount in "ESOP outstanding account" to General reserve. What is the reason behind that. Please explain.

Thanks
Navya

what is the limit an individual or huf can keep in cash during or as on 31.3.2020