Respected Experts,

While Preparing a Financial Statements ( Eg: for Proprietary Concern)
On what Basis we can exclude the Personal Expenses being added to the P&L

Example: An Assessee has a own a Car for which he uses for both Business commuting and Personal Purposes

How to bifurcate the Fuel Expenses of the Car in to P&L account and Personal Drawings since it is used for both business and Personal use.

If the Entire Fuel Expenses included in to the P&L, then on what proportionate we shall disallow them in the final computation. Kindly advise

I have started Event Management Company for organising Music concerts and festivals. I wish to know the taxation part of it.

I will be selling tickets on a web-based platform just like, BookMyShow.

Suppose, Tickets price range is from Rs 1,000 to Rs 10,000 + Booking Fees Rs 500 + GST on Booking Fees Rs 90 (@18%): Total Amount: Rs 10,590/-

Q1. Whether any GST is applicable on Rs 10,000? If yes, then at what rates?
Q2. On which amount, Income Tax will be applicable? Rs 10,000 or Rs 10,500 or Rs 10,590?

Can i claim input tax credit for input tax charged in my mobile phone repair? Please clarify?
My firm is gst registeted proprietorship firm.

DEAR SIR, I WANT TO CANCEL MY GSTIN BUT I HAVE CREDIT BALANCE OF SGST ONLY THAN HOW I SET OFF MY SGST BALANCE WITH MY STOCK. PLEASE REPLY

CAN A GALLA VYAPARI (MANDI BUSINESS) PURCHASE/ SALE GOODS OF MORE THAN 10000 / 2LACS IN CASH

E-Filing site showing Restricted Refund for some people and for some Bank accounts. I observed that for 1 person Union Bank account shows as Eligible For refund and for some it is showing as Restricted Refund. I checked with bank and it is not Inoperative account. Regular credits & debits are there. No KYC problem and account is also validated & EVC enabled. Can anybody guide me regarding this issue.

we have not uploded some purchase invoice of april-2022. now if we file the same in april-2023
shall we get credit of the input tax for the month of april-2022. as the filing date is near please treat this as urgent and help me.
Thanks in advance
K.B.Nagesha Rao
9448826793

a pvt ltd company can hire the employee who is non resident and the person don't have the pan card and the salary will be credited to the international bank account from the india company account .

what are the tax liabilities and can we do this ?

Dear Experts
Kindly shed some light as to whether GST is applicable on loss of sale of Assets. We are a Pvt Ltd Company. We sold a Cell phone at a loss after using it for five years. The Auditor has raised an observation that GST should be reversed in case of loss as well. As per Rule 40 of CGST rule 2017, the input tax credit on capital goods, in terms of clauses (c) and (d) of sub-section (1) of section 18, shall be claimed after reducing the tax paid on such capital goods by five percentage points per quarter of a year or part thereof from the date of the invoice or such other documents on which the capital goods were received by the taxable person. Is this position correct. If Yes, then how to reverse the ITC ? Kinldy elaborate.
Thanks in Advance
Shriram Deshpande

Do we have to fair value the fixed deposits with banks as per Ind AS?