My client is registred assessee under GST . He is a kacha artiya he sells raw cotton , mustard oil seed on behalf of agricultueist and sells it to factories. He issues his own bill in which the amount is for Cotton+ mandi tax+ commission = total and on this total he charges GST which he pays to government. He collects payment and pay to agriculturiat after deducting his commission. Is he liable to pay gst under Reverse charge on raw cotton and oil seeds

Whether a pathological lab run by a partnership firm (5partners, all are doctor, but not a pathologist 2 dr are Anesthesiologist and one are surgeon and 2 are MD medicine in that case this partnership is Business or Profession for the purpose of declaring presumptive income under the Income Tax Act.

In case of Rule 11UA(1)(c)(b), is valuation of shares by merchant banker mandatory? Or, can a CA do the valuation on the basis of NAV method, because Rule 11UA(2) as per my understanding is applicable only in case of issue of shares, and not in case of transfer.
Please let me know- in case of transfer, who is eligible to do valuation. Also, let me know the provision to be referred.

I've done CMA and doing my practical training from a leading company, but along with I also want to do one more professional qualification so I'm planning to do CS because of training and various particular subject exemption. So my query is that, will CS good or go for CA.

Sir,
I have faced one issue, we valued Cost at Lower Price including GST and reported the same in BS for AY19-20
But it was informed that the Valuation reported should be excluding GST.

Please inform what is correct? whether to include GST with COST or not?

Awaiting reply,
Thanks in Advance

Tribhuvan

Hi,

What is Accumulated Depreciation ? When to calculate.

We should require your opinion on one issue that we have provided Cleaning Exempt services to Municipal corporation and they have deducted TDS on GST @ 2 % same will be not applicable on Exempt services . Is it possible to take this TDS on GST as we do do not have any output and is it possible that if we take it than we will liable to pay tax on all exempt sale please guide

Mr. A has sold a residential plot for RS. 75.00 lakhs on 10/4/2016.
He don't have any residential house as on that date.
He wants to claim exemption u/s. 54F and so purchased another residential Site for RS. 80.00 lakhs on 15th May,2016 itself. He has constructed house on the above site before March,2019 with his own funds.
He has not deposited any amount in Capital gains accounts scheme.
Is the claim of 54F is correct?
Is there any case law?

Sir/madam
An individual person being a financial or operational creditor give loan or trade activity with an individual which was not recoverable after due notices and now, Can financial/operational creditor sue his case under which case or code?

Dear Sir,
Cotton, under headings 5201 and 5203, falls in the 5 per cent tax slab. But as farmers are not liable to pay tax and not registered under GST, buyers of raw cotton will be required to pay the tax on reverse charge basis
If trader purchased cotton from farmer and sold it to Ginner then how trader will Claim ITC