I had opened a Capital Gain Account Scheme account in jul 2015. ITR2 was filed and exemption availed under section 54. The entire amount from the account was utilised to build a house within the stipulated 3 years. I filed ITR1 in july 2018 which was accepted by the IT dept. However, I failed to close the account. The Capital Gains Account Scheme account is still open with a nominal amount in it.

What is the last date to close this account?
If I approach the AO now for the closure of this account, will there be any penalty?
Does failure to close the account mean that I could lose the exemption under section 54?

When this rebate is applicabel from because in gazzete notification it is mentioned that it is applicable from april2020.i.e 12500

Greetings.
My company is importing RM and exporting FG to outside the Indian territories. the term of delivery in both the case is having "CIF" basis only.
First of all, can in case of "CIF" delivery term basis we can account the export as sale on the same day once the invoice generated without the shipment and shipment will reach to the destination port after 2 months with the invoice and other document related to export.

And in case of import our company can account the invoice as shipment in transit & payable liability once it's generate at Importer premises without shipment, the shipment for the same will received after 2 months.
and delivery of the good will receive after two month only

Kindly anyone please let me know that whether slump sale of a closing firm attracts GST or not..?
If yes what is the GST rate.?
Thanks in advance.

Sir,

I have following details in GST Annual Return, Please clarify

1) Purchaser shown Input wrongly in Oct 2017 return and amended in Dec 2017 with original value both showing in GSTR 2A how to take amended value in GST Annual in which column.

2) in 3B Return one purchase value Fy 2017-18 not taken and but it is showing in GSTR 2A and the same ITC taken in FY 2018-19 3B Return how to show the ITC Value in which column in GST Annual Return

Thanking you

We have formed an association to maintain various services of our campus. We have elevators in our building and want to have annual service contract with the suppliers. It is around Rs. 60000 for one lift. Our association is not registered. Are we supposed to deduct a percentage of GST being charged for the contract? We don't have PAN and GST number for our association.

Sir
give me a format for noc letter regarding resignation of one partner from partnership firm and he had no objection if remaining partners are continuing the firm"

Sir, after tax audit, some amount of input tax credit has been reversed due to non payment within 180 days. Now I have to pay this amount. Please let me know the procedure to pay this amount ?

We are register Dealer in GST Act. Our ANNUAL TURNOVER is rupees 187.28 crores for the Financial Year 2017-18 & rupees 288.50 Crores for the Financial Year 2018-19
GSTR 9 RETURN is compulsory us for the F.Y. 2017-18 & 2018-19 both year or only 2018-19 year

Dear Experts,

Expenses incurred during 1st year of business (no income in this year) are not treated as Preoperative Expenses (debited to expenses head) but treated as business Loss and this loss is carry forward to next year. Is it right or required to be change.

Preoperative expenses will be amortized for next 5 years, is it compulsory in Income Tax laws or this can be treated as expenses in 1st year and Loss will be carry forward for next year (as done as per above).