Mr. A Pays INR 1 Lakh to Builder ABC for a flat which is getting constructed.
MR. A gets Allotment letter and buyer builder agreeement
total flat value is 2 lakhs.
what shall be the accounting treatment?
whether 1 lakh paid will be treated as advance or full 2 lakhs will be recorded as Fixed Asset and 1 lakh payable to the builder.

PLEASE LET ME KNOW WHETHER 194Q TDS TO BE MADE ON PURCHSE VALUE WHICH IS EXCLUSIVE OF GST OR INCLUSIVE OF GST

One of my clients works in stone and marble business. When he buys marble, he also pays freight to registered transporter on which he has to pay GST. Then whether that client can claim the ITC given on the freight or not.

SIR,
A composite scheme registered pharmacy retaile business dealer sale of turnover rs:58 lacs declared in gst returns f.y. 20-21(CMP-08 RETURN AND GSTR4 ANNUAL RETURN FILED).dealer rs:58 lacs turnover sales from cash mode receipts. but dealer online mode (google pay and phone pay etc) sales turnover rs:10 lacs amount not reported in gst returns f.y. 20-21.
Question:
1.Dealer sales turnover rs:58 lacs or (rs:58+10) rs:68 lacs declared in it returns.
2.dealer sales turnover rs:68 lacs declared difference rs:10 lacs amount tax through DRC-03 pay correct.
3.dealer sales turnover rs:58 lacs declared rs:10 lacs bank transactions treatment (adjustment procedure) in books.

My client is registered dealer in GST sells wallpapers. He wants to donate Wallpapers to a Temple and will get benefit of 80G Deduction. As this is Donation and not regular Sales therefore there wont be any GST charged on such Donations.
Will the Donation attract GST ? Should my client issue bill for d same?

Commission received on man power recruitment agent taxable u/s 44AD. Also Claricfy the Turnover for this one is commission alone or it include deposit received from person seeking for employment.

Financial Statements of Sole Proprietors

Illustration 21 (with Trial Balance)

From the following trial balance prepare trading and profit and Loss account and Balance Sheet as on 31.3.2021.

Trial Balance

Particulars CALDAGOGA TENA

(Cr)

Particulars

(Cr)

20,000

Loan (10% Interest)

Opening stock

Purchases.

20,000

3,60,000

Creditors

30,000

Salaries

12,000

Capital

1,10,000

Rent @500 PM

5,500

Sales

41,000

58,000

Machinery Wages

Furniture

6,000

10,000

Electricity

1,100

Trade expenses

3,000

Debtors

21,000

Interest on loan

1,800

400

GST paid

Building

60,000

10,000

Drawings

Bad debts.

1,200

5,70,000

5,70,000

i.

ii.

5 iv.

Adjustments:

On 1.4.2020 scooter worth 10000 was purchased and added to purchases account. Depreciation on machinery, furniture and scooter at 10% and Building at 5%

Outstanding wages` 1000

Prepaid salaries 800 debtors include 1000 which is bad and provision of 10% is required further.

Sunday Wages includes 2000 paid for machinery erection charges.

Proprietor has taken goods costing 2000 for which no entry was made.

viii. Goods costing 10000 was destroyed by fire and insurance claim was received for

*8000.

vi.

vii.

ix.

Closing stock 24000

The manager is entitl commission. to a commission of 10% of the net profit after charging such

X.

23. From the following Trial balance, prepare Manufacturing, account for the year ended 31-03-2021.

Trading and Profit and

Lo

Debit ()

Particulars

Credit ()

Opening stock:

30,000

Raw materials

16,000

Finished goods Work in progress

5,000

72,0

Capital

Purchases:

2,50,000

Raw materials

8,000

Finished goods,

Sales

4,000

Carriage inwards (on R.M.)

As per My UAN EPF joining date shown But EPS, FPS joing date not shown,
please help how to short out?

IN GST AUDIT EARLIER AUDITED AND CA CERTIFIED FINANCIAL STATEMENTS WERE ATTACHED, BUT IN F.Y. 2020-21 GSTR 9C IS TO BE SELF CERTIFIED BY TAXPAYER. SO NOW QUESTION IS FINANCIAL STATEMENTS TO BE ATTACHED IS SELF CERTIFIED OR CERTIFIED BY CA ?????

PLEASE CLARIFY SALES PROMOTION INCOME IS DIRECT OR INDIRECT INCOME.