Dear Sir,
We have exported in the Financial Year 2019-20 & 2020-21 with payment of IGST. Previously, we were getting refund automatically . From the above Financial Year we are not getting IGST refunds.
What procedure to be adopted to get these refunds for the GST Department, please clarify.

We are issuing the Work orders and PO' s to our Vendors by mentioning PRS Clause(Price Reduction Schedule) which is applicable to impose a penalty if any for the delay in execution of the awarded Job or supply. In one of the cases, Our vendor has supplied the material in which there is a delay has occurred and we asked him to provide the Credit note towards the delay amount but he has not agreed and did not provide the CRN. we have processed the bill and made the payment by holding the PRS amount. Even after several reminders also he has not served the CRN. Now we want to close the issue by crediting our Expense GL. This issue is 2 years old and we have taken the ITC for the full amount of GST paid against the Actual Invoice in the year of payment made.
it is requested to kindly suggest if we credit the amount to our expenses GL, what will be the GST issue arise? Can we make the GST payment against the Credit amount in this year?
Pl. advise.

section 11(1) states 15% of income. income means receipts or net after dedction of application of receipts?
i feel, income means after exps not after application.
for example which is correct ?
rs. 100 gross receipts,
rs. 15 exempted
rs. 85
less rs.60 spent
so rs. 25 is taxable
OR IS IT BELOW?:-
100 Rs. received, 60Rs. spent, so 40 and reduce 15% of 40 = 12- 28 is taxable?
IS 25 TAXABLEOR RS.28 TAXABLE ABOVE>?
I FEEL 25 IS TAXABLE.

we are Gujarat based entity. Gujarat Government has given well cleaning work contract to Tamil Nadu based company. We are working on sub-contract for that Tamil Nadu based company. We are providing well cleaning service. Wells are situated at Gujarat only. Sir, I have doubt that whether we have to charge CGST/SGST or IGST? Further we had charged IGST till today and if CGST/SGST is to be charged whether we have to pay tax along with interest and penalty?

u/s 194Q if we are paying supplier after deducting discount for timely payment then TDS is to be deducted on gross amount or net amount i.e after discount?

We have a material handling and transport contract. We are principal contractor. We purchased diesel from IOCL and issued to sub contractor on recovery basis. We paid VAT to IOCL. We have debited to sub contractor exactly actual cost of diesel as per IOCL invoice. Does this debit note attracts further GST Or VAT?

Dear All
I am the Student of CA Final. I already cleared my 1st Group long time back. My CA Final course has been lapsed due to more than 5 years has been completed. Now I want to give my CA final Exam held in May, 2022.

I just want to know that while filling the exam form
(a) first I have to Re-validate our CA couse so that course will convert from laped to active (it may take some time ,but exam filling date is 20th March only)
OR
(b) can I apply Re-validation process after filling of Exam form. (in that case Exam form is asking for Course Revalidation date,which is already expired).

Note: What is the last date to apply Re-validation of our course for applying in May, 2022.

So please help for submition of my exam form.

Regards
Naveen Sharma

I run a blog. Viewers would like to contribute small amounts as contribution
Will use it for promoting my website and developing it further.
What are the permission required if the amount is received from other countries?
What will be the tax impact?

For AY 20-21, I have earlier years b/f long term capital losses. The long term capital gains for AY 20-21 have to be offset against b/f losses but the IT department has not considered these b/f losses and raised a demand for 20% on the capital gains. I disagreed with the demand, mentioned the reason and submitted the rectification request for reprocessing the returns.

They have reprocessed the returns and raised the same demand without considering the b/f losses again. The officer is not even reading the reason which I submitted while disagreeing with the demand.

Should I again disagree with the demand and submit the rectification request. I am worried this will go in a loop. What is the other alternative?

One of my close known to proposes to purchase a residential property In Haryana the sale price of which is around 15% LESS THAN the CIRCLE RATE of that property . To put it differently, , the Sale Price of the residential property is appx. Rs. 20 lakh LESS THAN THE CIRCLE RATE OF THAT PROPERTY.

KINDLY GUIDE TAKING INTO ACCOUNT EXISTING APPLICABLE LAW AND PROVISIONS OF INCOME TAX

1. WHETHER THERE WILL BE ANY ADDITIONAL LIABILITY OF INCOME TAX ON THE BUYER OF THE PROPERTY;

2. IF ANSWER TO THE ABOVE IS IN AFFIRMATIVE, HOW MUCH WILL BE THE LABILITY AND WHETHER THERE IS ANY WAY TO AVOID THAT LIABILITY.