dear sir,
i have purchase goods[copra] from party and he issued me bill as coconut as copra is taxable @5% and coconut is exempted.department check the lorry and impose 100%penalty and tax equal to cost of goods.can officer impose 100%tax and penalty?please advice me
with thanks

dear sir,
we are one of the exporter in tamilnadu. For the first time, our buyer asking us to make invoice for lab testing charges. if we make invoice with IGST means, how can i show the invoice in GST returns. kindly clarify me sir.

Dear Experts,
My one of Vendor Was filled his GSTR1 for Jan'21 month on 12th Feb 2021, and Same was Reflected in GSTR-2A in Jan'21 month, But not reflected in GSTR2B Neither in Jan'21 or Feb'21 GSTR2B. Please Provide me a solution as soon as possible so i will availed my ITC.

Hi Experts,

Can we create Capital Redemption Reserve from Acc. Losses to buy back equity shares.

Thanks

Read more at: https://www.caclubindia.com/experts/ask_query.asp

can a mediator is already rendering services to the client can mediate? whether it amounts to a conflict of interest

SIR-

Pvt Ltd Company pays remunerations to its director.
Any Tax liability will be applicable on it to Company ?

Plz guide me sir\
thanks in adv

Hello, here is my situation. I had filed a revised return for AY 2019-20, as part of which I had claimed Foreign Tax Credit (FTC) under the India-US DTAA, by providing the necessary details in Schedule FSI and also submitting Form 67. Furthermore, when I filed the revised return, I had returned the refund I had previously received upon filing the original return, along with interest thereon, by making payment in the form of Tax on Regular Assessment [400].

I received an intimation u/s 143(1) a couple of days ago, and NOTICED THE FOLLOWING ISSUES:

i. The FTC amount claimed u/s Sec 90/90A is listed under the "As provided by taxpayer" column but is listed as zero in the "as computed under Section 143(1) column".

ii. The payment made as Tax on Regular Assessment [400] has not been considered at all (only the advance tax [100] and the self-assessment tax [300] have been considered).

MY QUESTIONS ARE:

1. What option should I select in the rectification request form so that I am given the option to upload Schedule FSI, containing the FTC details, once again?

2. Where exactly should I list the Tax on Regular Assessment [400] payment? Note that Part IT only asks for "Details Of Advance Tax and Self Assessment Tax Payments", so it is not clear if Tax on Regular Assessment [400] should also be listed there. This amount does appear under "Details of Tax Collected at Source" in my Form 26AS.

3. The email intimation I received stated that since "there is a variance of Rs.100 or more between Tax Credits (TDS/TCS/Advance Tax/Self Assessment Tax) as claimed by you in the Return of Income and the computation as per attached Intimation, a separate email will also be sent providing details on the same. " How soon can I expect to receive this email and should I wait for it before filing for rectification?

Thank you in advance for your guidance. I am new to this forum, so if I should be posting this elsewhere, please advise.

KK

Last February, i invoiced B2C bill to a party and take Eway bill on it. Later party asked me to change to B2B invoice. we already filed February GSTR 1 return too.
Is it possible to alter the bill and any consequence if I alter the bill?

Hi all

I have a company registered in Maharashtra who is providing online training to students located in Kerala.
I am issuing invoices from Maharashtra office. Should I charge IGST or SGST and CGST on the same bills?

Thanks in advance.

We, Proprietor concern sold a vehicle (Asset purchasesmore than 4 years before) to an unregistered party. May I know what all factors should consider as per GST?
Should I raise GST Bill and pay GST for the sale of vehicle?

please reply