Hi sir
Our organisation is Import based manufacturing concern , While filing Bill of entry to release goods we paid IGST , and the same is claimed as ITC while filing GSTR 3B when it is reflected from ICEGATE portal.

Now my question is, Our GST officer reverse the part of ITC related to imports to the extent of Short quantity received from july 2017 to march 2019, and ask us to pay interest@ 18% , for not reversing ITC .

In relation to imports it is general cause that some time short quantities and some times more quantities received , But based on which ITC reversal is genuine?

is there is any caselaws or section to protect our selves.

thanking you

Suppose a contractor is getting a direct contract from govt. entity. He wants to give it on sub-contract to a third party by based on MOU between the main contractor and sub-contractor.

Whether as per MOU an escrow account can open for the main contractor and sub-contractor for the said contract. Bankers should make to payments to the sub-contractor based on the share mentioned in MOU.

Whether this mode is possible.
Note- Client is not part of this Escrow mechanism

Dear Experts,

I would like to know, Do we need to prepare minute book for Board Meetings. What is exactly minute .?
Can we make it on excel or Is there any particular format for the same.?
How can we make it.?

Thank you in advance.

cnc machine received on delivery challan through eway bill for REPAIR work, now how to send back by delivery challan or gst invoice we have gstin
please revert

Please guide me the procedure of resignation under CS longterm training.

One of my Client is holding Redeemable Preference Shares of IL&FS, which became bankrupt recently.

Face value per share Rs.7500/- Premium Rs.5000/- and Redemption date 16th May 2021. Number of shares-100. Issued in 2014.

One more lot of 100 preference shares of the same terms, redemption due in 2022.

As we know IL&FS has gone burst and will not honor the redemption commitment.

In this scenario, my question is :

1. whether the client can claim Long term capital loss in the absence of sale consideration ?

2. Which year can he claim the loss for redemption due in 2022.?

3. Is indexation benefit available

4. What proof has to be obtained in the absence of communication from the issuer with regard to dishonoring the redemption commitment.?

5. In ITR, under schedule CG where it should be shown ?

Pls Clarify
1.whether any person can make will with respect to Ancestral Property
2 . Whether a Ancestral Property , received by Coparcener in succession or Inherited by Coparcener can be bequeathed by Coparcener by way of Creating any WILL or CODICIL for making distribution arrangements after his death in favour of person who are not even a legal heir or linear descendants
Pls support your clarification with legal rules , judicial precedent or legislative enacted law

I have sold off my property and wish to invest in either property and/or equity and/or debt markets. Need to know my options with respect to Tax planning and Financial planning to optimize my investment. Need a trusted CA for discussion and help. Please help.

SIR WHEN IS INTEREST CHARGED on bills of exchange

A) FOR TENURE OF THE BILL
B)AFTER TENURE GETS OVER AND BILL IS NOT PAID ..INTEREST IS CHARGED AFTER DUE DTAE UNTILL PAYEMTN IS MADE
C)FROM DATE DRAWN TILL BILL PAID

Can we file ITR 4 for FY 2020-21 now ?