CAN WE UTILIZE INPUT IGST BALANCE
HALF CGST AND HALF SGST??

OR OTHERWISE ITS MANDOTORY TO INPUT IGST BALANCE TO MUST SETOFF CGST DEN SGST

INSURANCE CLAIM RECEIVED ON LOSS OF STOCK LIABLE TO GST OR NOT ?

We (Registered Company in GST Act) received a Invoice from UNREGITER PERSON (NOT REGISTERED IN GST) Rs. 45000.00 for IRON CUTTING CHARGES PURPOSE. what we will do now 1) TDS Deducted ? 2) GST Paid on RCM Basis ?

Dear Experts,

Society registered under the Society Registration Act 1960 and it falls in the ambit of AOP as defined under IT ACT.

Society has 20 members, they will work in society as employees and they draw honorarium for their work instead of giving salary to someone. Does it come under the purview of GST?

Respected sirs,
Thank you for sparing your precious time.Sir, I bought a plot in 2005 whose indexed value now is 85 Rs. The cost of improvements over time( indexed is )15 Rs. Now I have sold for 150 Rs. Thus I have a clear gain of LTCG 50 Rs. Now I have to buy a plot for 50 RS or for the entire 150 RS. Kindly guide me sir. Thanking you once again.
Kumar

Interest on late payment of TDS is disallowed expense under Income tax
But what about interest paid on late filing of GST return and on interest/fee/penalty paid on late deposit of Provident Fund ?

Last year income tax log-in was registered in the old DSC and secured too. While logging in this year for the said account, the site asks for the old DSC. Whereas a new DSC after expiry is taken. In short Income Tax site can not be opened since the old DSC was registered & secured with that. Can it be not opened with a new DSC ?

I wish to know how to set off LTCG against LTCL for Debt and Equity Mutual Fund Units.

All the units both debt and Equity category were bought more than 3 years ago. (But No grandfathering) So 20% tax after indexation is still applicable for the debt funds, as bought before 1/04/2023 and sold now.

1)  If I sell Debt MF after 3 years' holding and incur LTCL after indexation. (bought 4 years back)

2) Also, if I sell my Equity Mutual Fund units after 1 year holding and incur LTCG. Can I set off LTCL from debt fund mentioned in item 1, against the LTCG from the sell of Equity fund? If the LTCL is more than the LTCG, then can I carry forward the LTCL for next 8 years? If the LTCG happens to be more than the LTCL, then the net remaining LTCG is taxable (amount greater than Rs 1lahk), at the rate of 10%, am I right? Next case,

3) I incur LTCG from the sell of Debt Mutual Fund units after indexation after three years.

4) I incur LTCL from the sell of my Equity Mutual Fund units after one year.  Can I set off LTCL from Equity fund mentioned in item 3, against the LTCG from the sell of Debt fund? If the net result is LTCG from the Debt Fund, will it be taxed at the rate of 20%? Please let me know.

My point is, even though the tax treatment of LTCG/LTCL from the sell of Debt and Equity Funds are different, they still can be set off against each other? The net LTCG after set off, is from Debt fund, can it still get Rs. 1 lakh exemption from tax?

Sunil Joshi

suniljoshi2005 @ gmail.com

Dear Sir,

We are registered in Maharashtra and We are supplying the material in Andhra Pradesh, but buyer is in Gujarat.

We have raise the invoice in Buyer Name in Gujarat and Supply to third party in Andhra pradesh.

while preparing the E invoice, it is asking the place of supply.

kindly guide in our case which state will be the place of supply i.e. Gujarat or Andhra Pradesh.

Thanks in advance.

What is the difference between accounts payable and sundry creditors and how their treatment done