Dear Sir,

What are the consequences if the auditor does not file income tax return of a Pvt Ltd company for fy 2021-22 which is not liable for tax audit.

The return was not filed as the director of the company didn't pay him the past year's audit fees. It is a loss making company.

Please advise.

Regards,
Divyesh Jain

Hi Everyone

I had one doubt regarding GST input tax credit as below.

We are availing cab services for road show advertisement purpose for our product and the service provider billed cab service charges + GST @ 5% for such services.

So, from the service receiver end, whether he is eligible to take input tax credit on such GST paid @5% ?

Thanks in advance.

Hello Experts
One of my friend is compiling and editing videos in India and sending them to US based company, and they pay him. He got GST registration and is filing it as export of service under LUT (0 GST). Is this treatment correct? Also, I read somewhere that IEC is not required for export of such services as they are not availing benefits of Foreign Trade Policy. Please guide
Thanks

What is accounting entry at the time of rasing a invoice and receipt in bank
Fees 100000 and gst is 18%

My company has obtained EPFO Registration number at the time of its incorporation though the employment strength has not reached the threshold limit of 20 for applicability of the EPF & MP Act 1952. I understand that my company has to start compliance under the Act once the employment strength reaches 20. I also understand that in case my company does not start the compliance even after reaching the threshold limit of employment EPFO may take appropriate action under the Act on receipt of any complaint or information from members or any third party.

i do not have enough employee and establishment registered on 23-11-2021, pls tell me what should i do now, is there any penalty?

Sir/Mam,

We have not filed GSTR9 & 9C , before 31st Dec 22 due to difference GSTR2A & 3B Returns. Now we rectified the difference, and ready file our turnover is 17 Crores.

What is penalities applicable for delay filing nearly 11 days,

Who will File 9c auditor or self certification, if Self certification what is procedure.

Please kindly advise and explain the above

Thanking you.

Entry at the time of investment
6.67% GOI (Investment) --46,37,500
Accrued Interest GOI Bond ( Investment) -1,30,620.83
To Party A/c 47,68,120.83
Now accrued interest received on dated
15-06-2022
Bank A/c Dr. 1,30,620.83
To Interest accrued GOI Bond 1,30,620.83
15-12-2022
Bank A/c Dr. 1,30,620.83
To Interest accrued GOI Bond 1,30,620.83
Now my question is that for twice accrued interest received how to treat in my books of accounts of Rs. 1,30,620.83+1,30,620.83 =2,61,241.6

whether TDS on interest income deducted under section 194A on accrual basis.

We are registered Goods Transport Agency who have opted for Forward Charge Mechanism. We purchased two new commercial Vehicles for transport of goods in the month of November 2022. We claimed the full amount as ITC in the same month. My queries are -
1. Can ITC on purchase of commercial vehicle used for transport of vehicle be utilized fully in the same month of purchase or it needs to be split for 5 years?
2. If it needs to split for 5 years, how can we reverse the ITC Claimed in the November month in December GSTR 3B
3. Is there a rule whether we have to use the ITC on purchase of commercial vehicles must be utilized for sale of old commercial Vehicles or it can be utilized against normal output tax (in our case - transportation charges) in that particular month.

Entry at the time of investment
6.67% GOI (Investment) --46,37,500
Accrued Interest GOI Bond ( Investment) -1,30,620.83
To Party A/c 47,68,120.83
Now accrued interest received on dated
15-06-2022
Bank A/c Dr. 1,30,620.83
To Interest accrued GOI Bond 1,30,620.83
15-12-2022
Bank A/c Dr. 1,30,620.83
To Interest accrued GOI Bond 1,30,620.83
Now my question is that for twice accrued interest received how to treat in my books of accounts of Rs. 1,30,620.83+1,30,620.83 =2,61,241.6