Dear Expert,
I work in a proprietorship concern of which line of business is transport. The proprietor has purchased two mobiles for business use and paid some amount to the airlines for travelling for business meetings. All the bills for the above expenses are in the name of his concern. The airlines have charged GST @ 5% and mobile shopkeepers have charged GST @ 12%. My question is whether GST paid by the concern on purchase of mobile and air tickets is available to set off the GST liability or not.


Thanking you in advance,
Vinod Kumar Shukla
9167230106

An Individual is into the business of F&O Transactions and is laible for Tax Audit.

Whether tax audit is to be done only for his Business PNL A/c and Balance sheet or for Whole Consolidated Balance Sheet Including his personal Assets and Liabilities

Kindly let me know

Sold an ancestral house at the market value (as recorded in the sale deed) with no loss no gain intention. My understanding is : (i)since there is no capital gains i.e capital gain being 0, there is nothing to report for LTCG in ITR2 or (ii) to report the sale value as well as the indexed value as X and the ITR2 system software will calculate the tax as 0. Please clarify.

Query on GST:
What GST would be charged – CGST + SGST or IGST, in following scenarios:

1.
Person having immovable property – registered in Maharashtra, having place of business in Maharashtra.
Location of the immovable property – Karnataka
Person who has taken the property on rent – registered in Maharashtra, having place of business in Maharashtra.

2.
Person having immovable property – registered in Maharashtra, having place of business in Maharashtra.
Location of the immovable property – Karnataka
Person who has taken the property on rent – registered in Karnataka, having place of business in Karnataka.

we expenses out or capitalized unallowable GST Input credit
like as input on motor car, motor spares parts, motor car repair bill etc.

Can above dis allowable input credit is mention mandatory in GSTR-B return

Please Guide us.


Thanking You

Regards

Rajkumar Gutti

Dear Sir/Mam, Plz tell me If I am filing the return after 31 aug 2018 for A.Y 2018-19 and my gross total Income is Rs. 300000/- after deduction my net Income is Rs. 247000/- .My query is the penalty of 1000 rs is liable in gross income or in net income..

I am based in India and setting up a dropshipping website. Plan to advertise products from China on my website to Indian customers i.e buyers will be Indians. I will take payment and shipping address from the Indian customers in rupees on my website and then place an order with the Chinese manufacturer thru credit card in the name of the Indian buyer with the buyer’s address for shipping.

Difference between the price on my website and the Chinese website is obviously the profit. The Chinese supplier as soon as he gets the payment from me will ship the product directly to the buyer in India to his address. The products don't come to me at all at any point.

In the above case do I need to have a GST registration? I don't expect a turnover of more than 20 Lacs to start. GST registration of the Chinese suppliers is out of my control. How and on what do I charge GST and is taking reverse credit an option?

HOW TO WRITE MY NAME IN ONLINE PAN APPLICATION, MY FULL NAME IS SREERAG E R, BUT IN MY ID CARD, AADHAR & BANK PASSBOOK MY NAME IS AS SREERAG E R, SO WILL BE THERE ANY ISSUE IN MY ONLINE APPLICATION?

what is the minimum period for epf withdrawal? if i am changing my job from india to uae after 6 months can i withdraw my epf fully?

Dear Member,
One of my client received Notice U/s 139(9) for Defective return for AY 2017-18 with an error code 332 : Tax Payer has shown gross Receipt or income under the head " PGBP" more than Rs1 Crore; However, Part A of the Profit & Loss Account and/or Balance Sheet have not been filed and the books of accounts have been audited'.
After verification of his ITR & P&L and Balance sheet, he shows net sale as Rs 98 Lacs as Turnover & in Other income Rs 2.75 Lacs as other receipt. As per his clarification about Rs 2.75 lac, this is not his business income & entry was entered on the basis of proforma invoice & there was no actual sale. This Figure is also confirm from VAT return filed & there was no other receipt in Gross sale in VAT return during that period.He also paid tax on such amount considering in P&L account.
Now, can he give reply by deducting such amount from other receipt & file return with revised figure of sale & claim refund of tax paid.
Thanks in advance....