Dear Sir,
We have Claimed Carried Forward of Vat in GST Trans-I Form Without Filing Original Vat Return.Later on, we have filed Vat Return after Filing of Transitional Form after Completion of Due Date of Trans-I. Now, the Officer has diallowed the credit Carried Forward in Trans-I Based on Late Filing of Vat Return...

Is there any Provision to support of Claim of Credit Carried Forward in Transitional Form

Pls Let Me Know the Probable Resolution

One of our client received the following notice from income tax department

Notice under section 274 read with section 271AAC(1) of the Income Tax Act, 1961
Sir/ Madam,
Whereas in the course of proceedings before me for the Assessment Year 2012-13, it appears to me that
income determined in your case, includes income chargeable to tax under the provisions of
section 115BBE of the Income Tax Act, 1961.
You are hereby requested to appear before me either personally or through a duly authorised
representative at 11:00 AM on 06/01/2020 and show cause why an order imposing a penalty on you
should not be made under section 271AAC(1) of the Income Tax Act, 1961.

No assessment notice was issued for the AY 2012-13 ever. we only received the notice for penalty.
though assessment proceedings was pending u/s 143(3) for AY 2017-18 which was closed on 20/12/2019 (same date of show cause notice) and no assessment order was issued for this.
Please guide me what action can we take against this show cause notice, whether we need to reply the notice?

Dear Experts,

Good Day!

We are an e-commerce fulfillment company. We hire TATA Ace Vehicles on a fixed monthly basis to carry out deliveries to our Customers within a city. All of these drivers are not registered under GST and are individual truck owners. I want to understand if such service falls under the ambit of GTA and hence the applicability of RCM Liability on the Company?

Thanks in advance!

In our co. when co's current a/c not open that time all partner put money in one partner SB A/c and form this a/c they make payment regarding the same, I have some below query?
1) Partner Y, Partner Z transfer money to Partner X Saving bank a/c ....... what will be the entry?
2) Partner X paid expenses from their Saving Bank a/c for business ... what will be the entry?
3) All remaining 5 partners transfer 10,000/- each to Partner X (Active Partner) Saving Bank a/c towards Salary ..... what will be the entry?

Respected Sir\Medam, The Matter is - we cover a part of factory with Tin Shed of Iron, the area use for factory purpose, now my query is that whether I am eligible to get ITC on such material or whether its fall under building material, Please guide me.

Kindly answer my query.

ITDS of Rs.50,000/- was deducted by PWD deptt.against works done during FY 2018-19. The payment of work was made during FY 2019-20. The PWD deptt. deposited ITDS of Rs.50,000/-but treated the same as of FY 2019-20. What should I do now ? Whether I should claim ITDS during FY 2018-19 or else ?

Hi all,
Whether corporates, who become members have any benefit for their CSR activities or
Should they donate to have benefit of CSR activity

Thanks in advance

Regards,
Geetha Gupta

I WANT TO KNOW THAT CAN I INCORPORATE 2 LLP WITH SAME REGISTERED OFFICE IN WHICH ONE LLP WHO OWNS THE PROPERTY GIVES NOC TO OTHER LLP TO USE ITS PREMISES FOR REGISTRATION PURPOSE.

1.I have claimed MTM loss for Futures for FY 2018-19 for open positions as on 31st March 2019.
In Current year also i will mostly have loss,i am thinking to take profit or loss when i actually square off positions,and not as on 31st March 2019 MTM.
Can i do the above?
2.Also is there a need to realize gain or loss when i rollover my contracts?

My client is running a Poultry Farm and he purchased cages for hen. Under which head it is to be classified and what % of Depreciation is to be provide for the same?