Hi,

If net profit is less than 8%/6% (as the case may be) of turnover , then tax audit is applicable. (Turnover limit of Rs 2 cr).

However is there any condition that tax audit is applicable when profit is less than 8%/6% and when net income crosses basic exemption limit , else not? i.e both conditions to be satisfied?

Regards,

If a taxpayer deals in both taxable and exempt goods under the composition scheme, whether GST needs to be paid only on the portion of taxable sales or the total sales as the act includes exempt goods under taxable goods. Please share an extract of the reference or any amendment to the act.

what is Location of supply and place of supply under GST.

Excess Interest Deposited on TCS Challan can be adjusted in Next Financial year from other code of TDS, Like 19$A, 194C, 194H ,194J etc.

Service receiver when liable to pay GST under RCM on security agency services.

Mam / Sir
We are transporter having 7 Tanker trucks and hiring them. We have also the GST Registration. We are in plan to sell 3 tanks to a party.
Should we issue GST invoice ?
If yes,
Query is that as we are not able to claim the gst, why should we issue GST invoice?
advice us plz
thanks in adv

Hi All

What would be the ESI applicability if an employee getting salary with different amount due to receipt of Sales incentive? (Fixed pay + Sales incentive)

Please clarify me what a company do comply with ESI provisions on below instances.

Instance 1:

An employee is getting salary of Rs. 25000 (Fixed Rs. 20000+Incentive Rs. 5000) including Sales incentive in a month. What will be ESI contribution?

Instance 2:

The same employee getting salary of Rs. 20000 (Fixed Rs. 20000+Incentive Rs. 0) including Sales incentive in a month. What will be ESI contribution?

Is anybody can guide me in this regard?

I had filed ITR-3 of FY 2020-21 but it is under processing since 17/02/2022.
Why department is taking so much time to process ITR ?

One of my client is registered as composition dealer having retail grocery shop. His sales mostly includes exempted sale like sale of Rice, atta, pulses atc. But he also sales condiments, ghee and other items. Whether he has to pay 1% GST on entire sale or only on taxable item sale ?

provision for depreciation , what is treatment in Balance sheet and profit and loss accounts and how it is present in Balance sheet in the case of Company.