Hello,
FY 2017-18 interest paid 192000 against form 15G, so i did not deduct tds. And by mistake I did not present 15G...
Now what should I do regarding this...nd how much penalty would to give.

Our Gross Receipts are from 2 sources, i e from sales of material and transportation services. Now my question is : 1. Whether I am liable to pay GST on outward transportation charges ? 2. Whether GST payable under RCM on inward Transportation Charges paid ?

Inadvertently just because of miscalculation excess ITC was taken in GSTR-3-B for the month of October 2019. Now we have to file GSTR-3-b for the month of November due date of which is as on 20th Dec 2019. What to do now ? Whether the said excess ITC can be adjusted in NOV GSTR-3-B. Please advise me and oblige.

Inadvertently just because of miscalculation excess ITC was taken in GSTR-3-B for the month of October 2019. Now we have to file GSTR-3-b for the month of November due date of which is as on 20th Dec 2019. What to do now ? Whether the said excess ITC can be adjusted in NOV GSTR-3-B. Please advise me and oblige.

My company is executing a works contract valuing Rs 1051 Crore (Including GST). Since My client is Electricity Supply company they are not eligible for Input tax credit, so GST is included in Contract Value.My JV Partner is a technical consultant for fixed percentage of 1% of Contract Value. My JV Partner is charging Consultancy charges based on my contract value and further charging GST on that.Could you please help me by providing the constitutional provision of TAX ON TAX. Whether we should pay GST on GST.

Sir,
1. If an asset Purchased on March in the Financial year What will be the chargeable Depreciation as per companies Act 2013.
2. If an second hand asset Purchased during the Financial Year what will be the useful life if the remaining useful life is nil

SIR

Freight paid by cash on behalf of the seller can be adjusted with the credit invoice by issuing debit note?



Thanks and Regards,
SANKAR

one of my client purchases agriculture produces like seeds,onions,tamotos,paddy etc directly from farmers. my quey is what type of invoices he is required to maintain to transport those goods from farmer location to business place 550kms approx. generally farmers donot have any invoices, Please tell me any invoice format.

Hi

My client having partnership firm covered under tax audit.Duly filed Audit report and income tax return of firm.Now partners wanna to file individual return of income tax return for Ay 2019-20.In tax audit we have shown 350000/- as per remuneration and Rs 226000/- as interest on capital for both partners each.

First question whether both interest on capital and salary will be taxable in partners's individual hand??

if yes what type of expenditures we can claim in individual income tax return of partners to save tax??

Third we have already claimed interest on capital and remuneration as an expenditure in firm profit and loss account?is there any claim/credit against int on capital and remuneration in partner individual tax return?
Suggest effective tax treatment to save tax in individual income tax return.


Regards
Sachin Alwadhi

WE WISH TO SOLD OUR OLD MACHINERY.
IN REGARD OF ABOVE MY GST RELATED QUERY ARE AS UNDER.
1) IF SELLING COST OF MACHINERY IS HIGH THAN DEPRECIATED COST OF
MACHINERY- IS GST LIABLE TO PAY ON DIFFERENCE VALUE.

2) IF SELLING COST OF MACHINERY IS LESS THAN DEPRECIATED COST OF MACHINERY- IS GST NOT LIABLE FOR PAYING

3) IS GST LIABLE TO PAY ONLY SELLING COST OF MACHINERY ( I.E NOTHING RELATED TO DECIPHERABLE VALUE )

PLEASE GUIDE. METHOD APPLYING GST ON SELLING OF OLD M/C .PLEASE NOTE THAT THIS M/C IS NOT SCRAP. ( THIS IS SECOND HAND SELLING TRANSACTION )