Hi

B2b invoice missed in Feb 2018..also till mar 2019 GSTR 1 return fild. how to now declare feb month b2b. not declared as b2c also. but GSTR 3b was filed with required turnover and paid taxes

Sir/Madam we want to clarify whether following parties to whom we (Builder ) have sold Units in a Commerical building to foll parties & the Society has been formed & Maintenance charges bills are raised on them. Pls confirm whether they claim GST Input Credit in their GST Return or not.

Sold to
1) Mr X in individual capacity & he has given GSTIN of His Privated Ltd Co.
2) Mr. Y & Mr R seperate units ( in individual capacity) & both are doing partnership business & GSTIN of Partnership given.
3) Mr P & Mrs Q in individual capacity (husband & wife) both are Directors of Pvt Ltd Co. which is carried on that place & GSTIN of Pvt Ltd mentioned in mentioned in bill.
Pl be kind enough to clear my doubts.

nitin.acharya@rediffmail.com

Query 1: If a voluntarily GST registered person thinks that "upto 20 lakhs limit, there is no GST" and files returns under zero rated, even though turnover did not exceed 20 lakhs for the financial year, what is the remedy?
1. Only intra state taxable services
2. Turnover lesser than 20 lakhs
3. Did not collect any GST nor raised any Invoice
4. No ITC availed
Query 2: If liability arises, whether declared turnover can be considered as inclusive of GST, resulting in
"Turnover declared in GSTR = Taxable turnover + GST at 18%"

Dear sir,

We have received invoice from courier agency to supply courier service to Japan.bill is raised on our delhi office and vendor is also from delhi location.however he charged IGST on the said bill.

My query is whether we can take input tax credit on the said invoice?

Please reply in urgent.

Thanks in advance.

Harshal Raval.
F&A

As per ICDS - Cost of Inventories shall include all purchase costs, service costs, conversion costs and all other costs which is incurred to bring the inventories to their present location and condition.

Purchase cost shall include purchase price inclusive of duties and taxes, freight inwards and other expenses directly related to purchase. Trade discounts, rebates, etc. will not be included.

So the Duties and taxes to be included in inventory as per ICDS.

So if I am having raw material in stock say of Rs.100 and GST charged on it is of Rs.18.

What will be the valuation? Is it 100 or 118?

Dear Experts,

One of my friend having below income in f.y. 18-19 :-
1) Salary recd. - Rs. 12,56,560/-
2) Commission recd. - Rs. 1,12,500/-
3) Interest recd. on Unsecured Loans - Rs. 8,42,400/-
---------------------
Total : Rs. 22,11,460/-
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1) Whether he require to take GST Registration?
2) Whether he issue any invoice for commission & interest.
3) While calculating aggregate turnover should he add Interest, commission & salary
or only commission & interest.

Please advise

Rakesh Sharma

RCM WILL BE APPLICABLE ON DIRECTOR REMUNERATION

My tenant, who is a partnership firm, has deducted the TDS for the entire year (12 months) while paying me the monthly rent. However, he hasn't deposited the same amonuting to Rs 1,85,600/ because of his negligence.

Can he deposit the same in a single chance with penalty or has to deposit it separately quarter-wise?

What's the best solution to handle this situation?

Thanks in advance.

Hi Friends,

A foreign vendor from USA having PAN provides Consultancy service to my client. The vendor provides No Permanent establishment certificate as well Form 10F but do not provide TRC . In this case what will be TDS rate as I think treaty benefit will not be given to the vendor without TRC.


Please reply.

Query
1. In what amount all assets and liability is recorded in Pvt co books? whether BV or MV?
2. Stamp duty is required to be paid for Immovable property?
3. Goodwill or capital reserve is created on conversion?
4. How to allocate shares by pvt ltd? how to calculate shares allocation?on what amount shares are allocated?
Regards- CA Alekh jain
Email id- Alekhj9@gmail.com
Cont No- 9595580588