Dear All,

From which date benefit of index be allowed on long term capital gain on sale of flat?

Is it from purchase deed date or can i claim it from the date of advance payment?

I have paid advance to builders in 2010 while purchase deed is executed in 2014.

Thanks
Nirmal Dave

Is GST applicable on TDR which is not intended for sale after the project is developed?

My client's sales crossed the threshold limit of 1 crore during march 2019 by 9.5 lakhs. As I became aware of that only in April 2019 and for 2019-20 FY (threshold became 1.5 crore in 2019-20 fy) composition was continued. Now what are the consequences on this? It is required by a composition dealer to opt out of composition as the sales cross the threshold and to pay gst at the normal rates and file ITC form to avail credit on the stock which I haven't done in due time. As a composition dealer has to become a regular dealer once his sales cross the composition threshold, does this have an assessment impact on my stock to opt composition during 2019-20 FY? Am I eligible to deduct the one percent GST I had already paid on the 9.5 turnover while paying tax on 9.5 at the normal rate plus interest by filing a DRC03 for the threshold crossed turnover? Is my composition for 2019-20 FY legal? Is there any penalty involved?

Dear Experts,
Mistakenly we couldn't file Gst refund of 2017-18 by 31/08/2020 which has been time barred, however in the said year we have refund due to inverted duty,

Pls let me know how can we file for refund for the said year,

Thanks
Nikhil sharma

A Doctor is practicing in a Clinic with a turnover of Rs.25 Lakhs which is fully exempt from GST and also having rental income of Rs. 3 Lakhs. In order to determine whether GST Registration is required one needs to see the total turnover i.e. turnover from practice + rental income i.e. 28 lakhs or only rental income 3 lakhs ? Whether he is liable to pay GST on rent or not?

Hi,

Can somebody confirm if fixed asset maintenance is compulsorily required under law?

Assess individual I.t. person .loan from friends each one 1 lac *20 members total 20 lacs through on cash mode received.each one pan number and address proof collected.loan used for personal purposes.
Question:
Assess loan from friends accepted in I .t.act

Respected Experts,

We are manufacturer and our turnover is around 250 Cr. and we are liable to collect Tax at
source u/s 206C(1H) w.e.f. 01-10-2020. But we are confused on what value we should collect
tax either on Taxable Value or Invoice Value (Included GST).

Kindly clear this query.

Regards,

Rakesh Sharma

Dear Sir,
One of our client is having a homeopathic medicine shop in the name of Gupta Homeo Kendra. He himself is a homeopathic doctor. The main business of his is selling of homeopathic medicine. If any patient comes to see him he does not charge any fees but his fees is included in his sales of medical bills which he issues. Previously in VAT regime he was showing all his receipts from the sale of medicine and all assessment under vat are done on the basis of the sale of medicine. and in GST we are paying tax under composition scheme @ 1% on sale of goods. Our receipt are average 21-23 lacs a year. My question is are we doing it correctly. Can we surrender our GST number as our sale is below 40 lacs

Dear Members,

We are going to start groundnut business, will purchase with shell and process to without shells.

also trading business for other grains.

Please suggest HSN or SAC code for GST registration

Thanks in advance