I AM A IT PAYER.I HVAE SOME FDs IN A BANK.


I am a IT payer. Investment in Bank Term deposits. Recently Syndicate bank merged with Canara Bank.
Till Feb 2021 TDS on accrued interest payout was done on quarterly basis on the Qly date of deposit.
As usual they have deducted TDS in 1st Feb, 2021 i.e. on the Qly date of deposits.
To my surprise they once again deducted TDS on 31st March,2021 on accrued interest for two months.
All my deposits are to be matured with compound interest.
On enquiry it is told that this is due to some change in version of program.
Thus I am liable to pay next higher slab of Income Tax.
Please guide what shall I do?

UPENDRA PRABHU

Client is a ultratech cement dealer. After the sales have been done by the dealer. The company revises sale price (gives discount) to my client (the dealer). As such company issues credit note. Client has properly reversed ITC in GSTR-3B. But did not issue debit note. This has been happening for almost 2-3 years.

What are the consequences and what is the procedure to rectify the same
Is issuance of debit note mandatory. Which form to use and how to file and rectify the same

Thanks in Advance

I had cancelled my PTRC registration, becasue I had shut down my proprieorship, and hence cencelled my PTRC registration.

I have started a proprietorship again.
But now the option to re-register is not available on the dashboard, how do I re-register?

What is the 6 digit SAC code of the following :
Printing of books / Journal etc. on job work basis for which 4 digit SAC is 9988 and rate is 5% .

I found a SAC code as 998832 under the head 9988 but the GST rate of the same is 18%

Please suggest and thanks .....

DEAR SIR / MADAM,
My turnover is high when compared to previous year. The Gross Profit value more than previous year.
But the Percentage of margin is getting low when compared with previous FY. My doubt is gross profit arrived with value or percentage of margin value. Previous GP % is 12.36% but in this FY GP % 11.00 but the Gross Profit value is high. please explain which is important Gross profit value or percentage value.

Respected Sir,
As regarding above subject , My query is that one of our buyer has issued a debit note of freight charges on export shunt on us with nit gst, is it valid or not or he has to charge gst on freight charges on export shunting.Please reply

Please Expert Provide solution, My Pvt LTD company paid two times registration fee while registering for the company, now it want to use that excess money for increasing Authorised Capital from 6 crore to 12 crore, what is the procedure to be followed for increasing the Capital

I'm doing final yr of bcom. I want to do provisional registration for ca inter but I have backlogs in my second yr . So now can I still do provisional registration with my 1 st yr and 2 ND yr marksheets ? Or I shld clear all subjects of my 2 yrs of bcom for eligible to provisionally register? Plz do help me ?

Sir, जैसा कि आप जानते ही है कि 1अप्रैल 2021 से e-invoice system शुरू हो चुका है, हम आपसे ये जानना चाहते है हमारी manufacturing Unit दिल्ली में है और Sale Depo U. P. में है, हम दिल्ली से U. P. में माल transfer करते हैं और U. P. से Sale करते है। दिल्ली से Transfer 50 करोड़ से कम है , और U. P. (डेपो) से Sale भी 50 करोड़ से कम है । लेकिन दोनों मिलकर 50 करोड़ से ज़्यादा है, जैसा कि Income Tax Portal पर भी show हो रहा है, मैं ये जानना चाहता हूँ कि क्या हमें e-invoice system अपनाना चाहिए या नही?? भविष्य में हमें GST या Income Tax में कोई दिक्कत तो नहीं होगी ??
Thank you- Ikramuddin Saifi

I am Kumar from Vellore,Tamilnadu and I am a registered GST dealer and doing a business of FMCG Distribution in my town.
For the distribution of goods to the market place (Retail Outlets), I use to hire truck from a local goods carrier operator and pay him on a daily basis, depending upon the load factor and distance factor.

The Local carrier operator is not a GTA (who is not issuing Goods Consignment Note) and not GST registered operator. He simply provide the truck and make the transport of goods.

Even Loading and Unloading of goods also not part of the transport operator, I am paying directly to the local coolies.

He only provide the Invoice for the payment of transportation.

My daily payment to the transport operator is around Rs.5000 and the total annual payment will be Rs.14 to 15 Lakhs approximately.

Since, the transport operator, not coming under the ambit of GTA (upto my knowledge on GST Act) , RCM is not applicable, and the services by the local transport operator is exempted from GST.

So, As of now, I am not doing any Reverse Charge Mechanism (RCM) entry in my GSTR 1 and GSTR 3B returns for the transportation expenses which I have incurred.

I kindly requesting you to advise me on the transportation expenses, which I am incurring will come under GTA or Non GTA and moreover, the RCM is applicable or not applicable on the same.

Since, the Financial year 2020-21 is ended and going to file the March 2021 GST return in this week, I kindly requesting you to clarify my humble request at the earliest. Which may even helpfull to many of my collegue distributors in the distribution industry.

With regards,
Kumar,