Sir
I want your advise. If one sells the property in April or May 2020 then what will be the indexation rate ie. 289 or. it will change. Pl guide.
Regards
Thanks

Dear Experts,

as per the section 18(3) credit will be transferred only on sale, merger, demerger, amalgamation, lease or transfer of business.
if the Registered person changes the nature of business ( from one product to another , ITC will be available or NOT

Hi,

Please confirm if the due date for 80G investment has also been increased to 30 June 2020?

Thanks.

I Naveen Kumar, a B.Com Student had attempted CPT old syllabus in november 2017 but I could not Qualify in the exam and Failed in it.
As in 2017, they announced new syllabus for CA Foundation, I decided to do Inter CA Direct Entry Scheme after comleting my B.Com Course.
But, I had a backlog subject in my 3rd semester B.Com (Second Year) for which I wrote a re-exam in my 5th semester B.Com (Final Year) but could not clear it. Now I am worried that I need to wait for another 6 months to write re-exam for my 3rd Semester Backlog paper. So should I attempt for new syllabus CA Foundation Course in these 6 months or should I wait for 6 months to write re-exam for my 3rd Semester Backlog paper and then apply for Inter CA Direct Entry after receiving my degree certificate

Sir

Reverse charge means the liability to pay tax is on the recipient of supply of goods or services instead of the supplier of such goods or services in respect of notified categories of supply. Thus liability to pay GST to government is of Receiver of those Goods / Services.

Normally , Recipient is eligible credit of this gst paid under reverse charge , provided conditions mentioned in gst credit rules satisfies.

( Hence below will be the accounting entry in books -
Freight Expenses ----------- DR 100
GST Receivable -------------DR 5 - [Cr.eligible on payment]
Transporter ---------------------CR 100
GST Payable-------------------- CR 5 )

However in case where the final product of Recipient is exempt under GST , credit of gst paid under reverse charge will not be available.

In this case question arises whether "the liability to pay tax" means "responsible to bear the expense".
Whether recipient should treat gst paid under reverse charge as his expenses or he can deduct the same while making payment to transporter. In both the cases gst paid under reverse charge will remain same.

( In our example , below will be the 2 different views -
View 1.
Freight Expenses ----------- DR 105
Transporter ---------------------CR 100
GST Payable-------------------- CR 5
View 2.
Freight Expenses ----------- DR 100
Transporter ---------------------CR 95
GST Payable-------------------- CR 5)

Whether both of the above views are correct.
Any supporting explanation / notification in gst.

Kindly Advice,

Dear sir,

ocean freight (RCM) we have mentioning under A(3) i.e inward supplies liable to reverse charge but we heard some where we have to mention under table A(2) i.e Import services, which one correct sir?

1) which services will come under import services..

Can I claim deduction under section 80 d for health insurance paid which is a part of my CTC?

Res sir, Maine Dec 19 me gstr 3b me dusri party ka pur bill by mistake claim ho gaya hai to mai ab iske liye kaise reverse karo jo party ka liya hai usko debit note issue kar ke karu kya dusra option bataye

Sir
I want to know partner details, for a PAN No registered in the name of a Firm . NO partnership deed was made.
Sir , if there is any procedure please advise

Sir,
one PAN was taken in Firm Name and Partnership deed was made,.Sir ,how to get partner details.