In our firm we have purchased Interior Item Around 5000. in this scenario the expenses should go o which account.
Capital Account Or Asset account or Indirect Expenses

Which of following be the correct procedure
A) I show credit note and debit note in gstr1 and then in next return of March, it will automatically show reduced/increased sales and corresponding tax and ITC. I don't do anything in GSTR3B
Or
B) I give credit note and debit note effect in sales amount and tax amount and ITC amount in gstr3b- but which column I don't know - please guide
And show in GSTR1.
OR any other procedure which is correct
Request for your guidance.
Regards,

Hi all,
Provision for gratuity is made in the books of accounts on the basis of actuary valuation. Whether it is allowed as a deduction under the Income tax Act?

Thanks in advance.

The Turnover is Rs 1.40 Crores and 95% of the transactions are done through bank. The profit percentage declared is 4.22%. ( They have not opted for 44AD section ) Whether 3cb-3cd Tax audit is applicable for fy 2019-20

Below of 2 Cr. turnover, GST Annual return is mandatory or no ? for F.Y.2019-2020.

as per Section 9(3) of the CGST Act, Purchases of Raw Cotton Subject to RCM.
my Doubt is Can a registered person Apply for Refund, the reason for asking this doubt is the RP paying every purchases made Raw Cotton as well other purchases which resulting into paying more GST and Out put GST tax liability was Less Compared to the ITC Available ( resulting from RCM paid and ITC Availed) this Resulting in to Blocking of working Capital in ITC Ledger ,

Is it Possible for Apply For Refund of ITC ??

Hi All,

If GST on the invoice is ineligible, whether TDS is deductible on base amount or total amount of the bill?

Thanks in advance

One of client as recieved notice for payment of service tax, but he was not registered under service tax.

So how can now I registered him for service tax and make payment of service tax.


Thanking in advance

Practical problem is Nov invoices reflected in Nov 2A but our co recorded it on 1st and 2nd Dec while actual material received.
So while claiming input in Dec 2020 the limit of 5% gets exceeded...what to do?
In short problem is input appeared in Nov but we are claiming it in Dec is there any issue?

What is depreciation rate as per co act for Plant & Machinery and for equipment used in machinery?