Sir, we charge red ink interest if due date is falling after statement date. However my query arises when red ink interest is calculated on bill receivable, whose due date is after statement date. Therefore we calculate negative interest, which in fact, means we are debiting the debtor's account. If our assumption is that he is making payment on statement date, he should earn rebate for early payment of the bill. But due to interest being in negative, we actually debited his account. Therefore he is paying extra even though he is paying early. I could not understand the logic behind it, or is my concept about red ink interest is flawed. Thank you very much in case you answered.
Thank you.

We have missed filing TRANS-1 form for claiming credit of VAT and Service Tax balances as on 30th June 2017. Kindly suggest me the ways to get that credit into our GST account. Can we file refund of that balances from respective GST departments?

Income tax audit once filed then every year tax audit applicable or tax audit applicable only which year exceeds the prescribed turnover limit. Please suggest. Because lots of misrepresentation on the words eg. Any person pursuing a profession and whose gross profits exceed fifty lakh rupees in any previous year. The last word Any previous year is mislead..

Dear Sir,

I am a Director in a Private Limited company which is registered under GST. I want to know if the company gives me Salary in the form of Director Remuneration does the company has to charge GST on it. I am not registered under GST as an individual. How will this transaction take place.

Regards,
Divyesh Jain

A DOCTOR LIABLE TO DEDUCT TDS ON PAYMENTS, PAID RENT INCLUDING GST ON WHICH AMOUNT HE NEED TO DEDUCT TDS WHETHER ON BASIS AMOUNT OR AN AMOUNT INCLUDING GST ( SUPPOSE RENT IS RS 10000+ GST 18000 = TOTAL AMOUNT PAID RS 118000/-) ON WHICH AMOUNT TDS DEDUCTIBLE ? AS PER MY VIEW TDS ON RS 100000/- DEDUCTIBLE EXCLUDING GST

Respected Sir/Madam,


Greetings for the day. Trust all is well at your End..........?? How are you all ?

I am Sugadeesh Kumar from 'Tamil nadu, Chennai.'

Right now 'Need an Timely help / An Handy Gesture' - Can you please "Guide, Help Me in Knowing about Full GST Filing; Claims; Refunds; etc. etc......................"

I want to know 'A To Z' about it. If you can send the 'Entire Steps/Guidelines (Whatever it may be)' so that "It will be really Handy, Helpful" for me to Know about it and take it up.

Secondly 'At this present situation / on-going scenario - I don't want to Waste time as Well as Spend and Sit Idle'. I have the 'Interest to fully learn as Well as got Grasping Power' to Utilise the Precious time.

Look forward for your Co-operation, kindly do me the needful.

You are really "Saving a Human Being Life."


Thanks & Regards
S.Sugadeesh Kumar
9840962347

Dear experts,
Please let me know, if we pay amount for marine insurance then how we will record it in our books.? What will be journal entry for the same.?
Thank you in advance

I started my medical shop in 1st quarter of 2017 ( From April 2017) For starting the shop, I was asked to pay Rs 30000/- as advance for VAT.
When I argued with them that GST being implemented from !st July 2017, they replied that advance will be refunded when GST is implemented.

Pl help me how can I get my advance back.

Regards,

HARSHAD KHONA
9820072155

Dear Experts
We have Registrations GST numbers (AP & Harayana).. our all sales & Purchase transactions going in AP .now AP ITC balance is Nil .. In Haryana there is no sales . can i transfer Haryana ITC to AP
I already registered AP & Haryana as as a ISD.
Pl suggest wt is process of ITC -Transfer ?

Hi,

can one clarify me.
Our Company collected a performance BG from the sub-contractor and the sub-contractor seems to fail to comply his obligation. Hence we may invoke the BG next year. In this case can we disclose the performance BG value as contigent asset in Directors report

Please advise