Respected Experts,

While preparing Financial Statements of one of my friends Prop Business, i observed that he has erroneously omitted few Sales Transactions in GST, which resulting variance between IT Turnover and GST

It is a Non Tax Audit Case

Since we are declaring 100 % Actual Sales in Income Tax, will there be any consequences for the variance happened in GST?

Kindly advise

Sir
One of my client is in the business of running of hotels only with accommodation. Some of the rooms are being booked by e-commerce operators such as booking.com, travel guru etc. Is the revenue of rooms booked by such operators are exempt from paying GST - though the amount is settled by the customer.
R S Sai Kumar

I have wrongly claimed ITC under Igst -52320 instead of CGST/SGST-26160 in Fy 2017-18 for which we have received Form -10 in the month of March-2023. We also have Balance of 26160 under Cgst/sgst which is unclaimed. I have following queries:
A. Do we have to pay 52320 under Igst? Also is there any clause in Gst act for waiver of Interest?
B. Also any refund process to claim the Cgst/sgst?

Respected sir
Could you please ascertain LTCG in the following case
land purchased in 2006 (6.50 ares )--Rs.300,000
sold 2.23 ares in 2012 --Rs.600,000( for constructing house(partial)at a cost of Rs.14 lakhs
Renovated the house in 2018-19 at a cost of Rs.30 lacs
Sold the house property in 23-24 for Rs.75 lakhs
Brokerage--Rs. 2 lakhs
Please also inform how to save LTCG
Thanks in advance

MY CLIENT INADVERTANTLY PAID RS 3937490 INSTEAD OF RS 39374.90
TDS ON 07.5.2023 FOR MONTH OF APRIEL U/S 194Q
NOW HE WANT TO TAKE REFUND IMMEDIATELY
HE COMPLAINT THE BANK THE BANK ASKING ABOUT THE NAME OF BANK OF INCOME
TAX DEPARTMENT AND IFSC CODE
WHERE TO GET THE DETAIL OF THE BANK AND ALSO
HOW CAN REFUND BETAKEN IMMEDIALTELY AS INVOLVE THE BIG AMOUNT

MYSELF HAS MADE MONTHLY ONLINE PT PAYMENT OF SALARY AND HAD SELECTED WRONG FINANCIAL YEAR IN THE CHALLAN.
PAYMENT IS MADE IN MAHARASHTRA.

PLEASE GUIDE.

Dear Experts,

What will be the Deprecation rate for solar power plant as per
Income Tax Act,1961.
Companies Act,2013.


Also whether the company claim the additional depreciation of 20% as per Section 32(1)(iia) of Income Tax Act,1961.

Pl clarify

Dear Sir,

A Vendor has defaulted in payment of GST and its registration status is cancelled suo-moto. We have been paying him regularly. He is charging GST even after cancellation

Our entity cannot claim ITC as ours is exempted service.

What course of action can be taken against the GST paid by us. Can we recover the GST paid to the vendor.

Respected Sir, I had tried too many times to fill up and then upload the above forms offline mode (as advised) but each time message shows " do not fulfill the object". I used Windows 10 (all are up to date). Is the above form in order or defective? Kindly let me know your valuable direction to do the needful. Regards, Tarak Kumar Roy, 150/1/1, Banerjee Para Road, P.O. Naihati - 743165, West Bengal.

Dear Sir,
For F.Y. 2022-23 in old regime standard deduction is available upto Rs.50000/-. Now my query is that this standard deduction how much amount to be claimed as Standard Deduction in the following case .
Gross Salary Rs.75000/-
Professional Tax Rs.600/-
80-C Deduction = Rs.25000/- and now taxable salary is 75000-600-25000=Rs.49400/- so whether Rs.49400/- to be claimed as standard deduction or Rs.50000/- should be claimed as standard deduction. But if later is claimed then taxable income will be Rs.(-)600.
Please guide.