A taxpayer imported goods of $20,000 from Malaysia. At the time of import he paid IGST of Rs. 1,00,000 and took full ITC.

Now at the time of payment he receives discount of $5,000 from the supplier. Since the supplier is not registered in India he gave a letter for discount.

Query:
1. Since the supplier is outside India, I should issue debit Note on his name for accounting effect?
2. Whether the debit note shall be issued or the discount shall be treated as separate supply under GST?
3. Since I will not be reversing any ITC so i should issue Financial Debit Note instead of GST debit note?

We had started a Finance business (company incorporated) last year .
My self and my friend are the two directors. Now we have decided to discontinue our business.

what is the procedure for winding up of the company.
How long is the process for winding up and how and when we as directors of the company can take back our money

Kindly advice

Thanks

Dear Sir,

Could you please confirm me, where we have to show Interest on PPF Tax free Income under which section .
1. Sec 10 (11)- Statutory Provident Fund received
Or
2. Sec 10(12)- Recognised Providend Fund received

Please help me

Sir
At the end of year, the balance sheet shows,
TDS Payable - Rs.400000/-
TDS Receivable - Rs.600000/-

How to close the above TDS account and carry forward it to the next year
Plz clear my doubt
thanks in adv

Dear Sir,
A Individual filled his IT in 44AA for the past 2 year Ass yr 2018-19 & 2019-20.
Can he fill IT in 44AB in Ass yr 20-21 . If so what will be consequence. Please clarify
Thanks

A gst registered regular scheme dealer for itc claimed gst 3b which ever is better as per 2a or 2b or books of 10% rule applicable in gst act.

Assess cash gift received from elder brother amount above Rs:10 lacs through on bank mode.
Question:
Above transactions tax on gifts applicable in I.t. act.

dear,
i had started cfa of fmcg (namkeen,chips) in Jodhpur Rajasthan.
i dont know anything about accounting and gst filling for cnf firm.
can anyone tell me that how i have to do accounting and file gst returns.

Respected Sirs,

Please guide me and oblige.

Can we claim ITC of Feb 2020 into the 3-B of Dec 2020

Two I.t return filed individual Assess single bank sb account maintained jointly transactions
1st Assess trading transactions in bank sb account
2nd Assess rental income transactions in bank sb account.
Question:
Two I.t. return filed assess every transaction 50:50 share or Assess applicable transactions only entries passed in books.