Dear all CAs, Tax professions & Expert Accountants , need your urgent reply from u in this regard:
A is a real estate developer, engage B who is a works contractor to execution of all civil works in a specified housing project, all money needs for this work execution transfer from the bank account of A to B & B submit tax invoice to A at the end of month with GST @18%, A is already get Completion Certificate from approved authority for this project , now my question is
1.Is A get refund of the GST deposited byB after considering Input Tax credit, as A have no liability to pay GST for after geting CC?
2.If A not get refund the entire GST deposited by B, is he show the entire amount paid to B , including GST as expreses in his books of accounts?
3.What is the impact is A, the develper, execute the all work himself, I.e.develop & selling both,as he is not liable to pay the GST after getting CC, he is not charge/collect tax from customers, if he is not getting refund the Tax paid to B, is it is not a financial loss to A?So, is it possible that Acarried out all work in his name, directly purchasing materiials & engage worker ,is it batter to him or not?
4. If A segregate all of his work between more than 1 works contracors, ternover of those does not exceeds 20 lacks, Is it batter to A?
Waiting for your expert reply.

A person purchased some shares and mutual funds for Rs 50,000/- (STT paid) in the year 2010. Sold those shares and mutual funds in the year 2017 for Rs 3,00,000/-. As the long term capital gain is fully exempt from tax-- how could I enter the capital gain figures in capital gain schedule of ITR Form ? Or should I write the Long Term Capital Gain i.e. Rs 2,50,000/- in Exempt schedule of ITR directly and need not to enter capital gain figures in Capital Gain shcedule ?

Please suggest the above.

Dear Sir,

which ITR for AY 2018-19 for only partners of a firm is it mandatory to fill balance sheet in ITR-3

In case of belated return it is not possible for the assesse to carry forward and set off his losses except in case of loss from hp and unabsorbed depreciation.whether the assessee can adjust his business loss against income under any other head in the same py?

Sir
IF purchase made on 28/07/18 and goods delivery received on 01/08/2018.and recorded in tally on 01/08/2018 as purshase.
Sir my query is that , In which month of GSTR 3B i.e, july or august , above mentioned purchase input can be claimed.

A (In india ) will sell 10 laptops to B (in singapore) .B does nt have any PE india. these Assets will be used in India only by a third party wch has service contact with B. i.e. no movement. The Laptops will not be taken outside India Will GST apply?? A & B are related party.. Mant Thanks in Advance.

date of death of person is 3.7.17 and his wife is receiving pension but TDS was deducted in name of deceased person for whole year (2017-18) i.e TDS was deducted monthwise on pension for whole year.
which income should be shown in ITR ?
and procedure for filing of itr of deceased person?
thank you in advance for your response

Is GST to be considered in definition of consideration value for Rs 50 Lacs limit.

Flat value without GST: Rs 49 Lacs (below 50 Lacs)
GST: Rs 5 Lacs
Flat Value including GST: Rs 54 Lacs

Here Flat value (without GST) Rs 50 Lacs. So is TDS required to be deducted ?

If there is any circular clarifying this, please share the circular number.

what is the long term capital gain for land purchased in march 98 for Rs.150000 stamp duty paid on circle rate value Rs. 2,90,000 sold in june 2017 for 30lakh.

kindly note my e mail: akgakgupta@gmail.com
for land purchased in March 98 sold in June 2017

Dear All,
Background: There is a registered auto dealer (new cars) who is also engaged in purchase and sale of second hand cars.
Query1: can he take benefit of margin scheme and any intimation to the department or mention of the same on invoice is required.
If yes
Query2: Can he collect GST from customer or it has to be like composition scheme?
Say purchased a vehicle for 1,00,000
sold for 1,10,000
Margin 10,000
so amount to be collected from customer should be 1,10,000+1800 (say GST rate on margin is 18% so 10,000 X 18%) or else it should be 1,10,000 only?
In case it can be/ has to collected separately than
Query 3: will it not disclose the margin to the customer and indirectly hamper the business?
Query 4: can we skip the invoicing part?

reference to sections/rules number of act will add greater value to your reply.