Rajiv

EXPERT I AM MUCH CONFUSE REGARDING REFUND IN CASE OF INVERTED DUTY STRUCTURE . AS PER SECTION 54(3) IN CASE OF SERVICE PROVIDER OF RENTING A MOTOR VEHICLE.
SIR MY FRIEND PURCHASE A BUS AND PROVIDE FACILITIES TO A COMPANY FOR HIS EMPLOYEES.SIR HE PURCHASED BUS IN AUGUST 2017 WITH CHARGE GST @ 28% SIR HE IS PROVIDING SERVICE WITH CHARGE GST @ 5% (RENTING OF MOTOR VEHICLE) SIR HE HAVE ITC IN CREDIT LEDGER IN GST PORTAL AMOUNT IS APPROX 7 LAKH. SIR HE WANTS TO FILL GST RFD01 FOR CLAMING REFUND OF INVERTED DUTY STRUCTURE . BECAUSE HE PURCHASED BUS WITH GST CHARGE 28% AND PROVIDING SERVICE @ 5%. SO PLEASE TELL ME CAN HE APPLY FOR REFUND UNDER INVERTED DUTY STRUCTURE PLEASE REPLY????


Rishi Jain
29 August 2018 at 10:58

Input tax credit

How to claim Input Tax Credit on Capital Goods purchased before registration with GST?


CA Ashritha PB

Dear collegues,

GSTN has been wrongly uploaded in GSTR 1, it has been reflected in others account, we have been taken care not to claim by them, now we have to reverse it back/ claim it back to our account. please suggest the solution.


Nirmal Sebastian
29 August 2018 at 10:45

Gst on agricultural services

Sir,
We a registered proprietorship, done an agricultural services (labour supply, land leveling using rented machinery, cultivation, planting, protecting,harvesting etc) to unregistered party.

While invoicing the same to party, is it taxable or exempted under GST?
If taxable what is the percentage ?
What is the SAC Code?

Regards
Nirmal


Rajiv
29 August 2018 at 10:39

Audit is mandatory

Sir,

My business turnover is INR 43.00 Lakh for 2017 - 2018. Gross profit is INR 4.43 lakh. Then INR 2.79 lakh all allowable expenses. So net profit is INR 1.64 Interest on capital is INR 1.65 lakh

After all my books shows loss of INR 3000.00 I am liable to audit my accounts??


Ganesh
29 August 2018 at 09:59

Regarding gst registration

Dear Expert,

I filled the GST registration form and TRN generated. What will be consequences if Part B of application is not completed within specified date?

Kindly guide me.
Thanks
Ganesh


Krishna Pada Santra
29 August 2018 at 01:28

Deduction on chapter vi

FIXED DEPOSIT INVESTMENT Rs 205322 FOR 5 YEAR & MY INCOME 5.5 LAC FOR THE A.Y 2018-19, SO CAN I GET 80C DEDUCTION ON HOLE INVESTMENT AMOUNT 205322....???



Anonymous

Dear Team,

please guide how can i claim HL interest and Principal while filling income tax return??



Anonymous

Dear Experts,
A partnership firm is not to be audited u/s 44AB, but this firm is going to made the payment of Rs. 1 Lakh to it's contractor. Pls clarify briefly :- since the firm books of accounts is not audited hence No Need to deduct TDS on contract amount of 1 Lakh. Am i right....

Thanks
ASAP



Anonymous
28 August 2018 at 21:56

Violation under income tax act & fema

One of the assessee has worked in US for the past 6-7 years and he does not have NRO/NRE account in india.
He transfer funds from US to India through Money exchanger to his accounts in india.
Whether there is violation under Income tax act & FEMA?






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