Dear Respected and Loving Experts,

My vendor has issued some wrong invoices to us which we have informed them that we are not accepting the said invoices, we have not booked nor taken any ITC on those invoices, this is for FY 2022-23 , now the vendor is saying as per GST Rules we can not simply ignore the invoices and should have issued debit note against the same. Is it true? But we did never accepted the invoices in the first place so there is not question of issuing a debit note if my understanding is correct. They had issued us some 1.5 CR of wrong invoices instead of some 10L of monthly invoices, we never accounted 1.5 CR of invoices. So we never booked nor issued a DN. Is there any law / notification etc ? Since they did not issue the CN they lost the ITC and now they are blaming us that we should have issued a DN which makes no sense to me. Even if we issue a DN, we will not upload anywhere to enable them to claim the ITC. We do only issue sales invoices to customers for the services we offer to them to them against which they get the ITC.

Let us know your views on the same.

Thanks and have a nice time ahead :-)

Suppose I have paid a challan and deposited it to someone in a TDS return, but later I canceled the transaction with that person. Can I remove that challan to use it in a future period?

Dear All

Please confirm what is the rate of TDS while a company gives sales incentive to a salaried employee. Whether we have to treat it as part of salary and deduct TDS accordingly or can we deduct the portion of Incentive under TDS for Commission?

Hello sir ,
My wife I have ITR1 with old Regime on 8th July (No Refund and no Demand,some Tax Self Assignment tax already paid).

We want to revised it . Can I select New Regime while revised After due date as it seems Beneficial to us

Sir,
A RTP business principal place visit gst officer sales turnover compared f.y.23-24 April to June -23 rs:40 lacs vs rs:24-25 1st quarter April to June -24 rs:30 lacs sales turnover short fall reason enquiry
Question:
Gst officer visit in business principal place sale turnover decrease reason asked provision in gst act.

SIR,

WE HAVE A DEVIATION IN THE FLAT AND THE REFUND HAS BEEN HELD UP . IS THERE ANY AMICABLE WAY TO GET THE REFUND POST SOME DEDUCTION , PLS SUGGEST

Purchases iron scrap to URD Dealer RCM Applicable??

What is GST rate and HSN code for Vastu Shashtra services offered ?

Hi,

I bought an under construction apartment in 2006 directly from a local builder and paid via installments (a total of XX Lakhs) for which an agreement for sale was executed and installments were paid based on construction progress, I was also able to finance a part of the purchase via home loan from bank using the AFS as basis for YY lakhs which I was able to repay with interest in around 5 years. The apartment was registered in my name in 2008 with Sale deed reflecting only value of N Lakhs (without including Registration and Stamp Duty) by builder

Now I am trying to sell this property in 2024. I had the following questions:

1) What would be the Cost of acquisition for this flat I can use since Sale deed only reflects N Lakhs but I actually paid XX lakhs as per AFS to builder (I also have bank loan of YY lakhs as proof)? (YY+N=XX)

2) Can I show YY Lakhs as Cost of betterment to be included if only N lakhs is allowed as Cost of acquisition in 1)?

3) Assuming that Indexation benefit is still available to me in current FY, What would be the indexed cost of acquisition (apply indexation factor 363/122 around 2.97) to entire XX lakhs. Please confirm the indexed cost of acquisition I can use to calculated LTCG?

4) Assuming indexation benefit is not available to me in current FY, what would be the unindexed Cost of acquisition for the apartment?

Thanks for the clarification in advance.

Regards,

Sir/Mam,

One person planning to open Tours & Travels business under Proprietor concern what registration required
what is the process

Plz kindly explain

Thanking you,