We have purchased taxable inward supply vide tax invoice but we can not avail ITC since the supplier (in routine practice) do not pass tax credit to buyer..e.g. Telephone, Mobile expenses, TDS Return uploading Fee etc. These are expenses against which IGST and/or CGST/SGST is charged but the supplier of service do not pass it to buyers.

Now how this taxable purchase should be booked with full amount (taxable value + IGST/CGST/SGST).

Is it INELIGIBLE PURCHASE or should be book as PURCHASES FROM URD? However supplier is not URD, what we should do in such cases?

Thanks in advance!

My father is transferring a small portion of his business to me for starting my business in same field.assets and liabilities being transferred value rs.50 lacs. I feel it would be good if the payment consideration id in form of Gift. Pls guide is this would be right? Secondly if not gift then would it be advisable to show as unsecured loan that i shall kep paying with interest? Third, will there be any tax-ability in this case to transferor and transferre? pl guide Regards

HELLO SIR
PLZ TELL ME ABOUT GST AUDIT AND GST ANNUAL RETURN

Sir,
If I have to file tax return of my business income under presumptive income scheme u/s 44AD ( as i satisfy all conditions and criteria of that section ) but I have Capital Loss of AY 2018-19,( FY 2017-18 ),Can I still adopt taxation under section 44AD. If Yes then which Return form shall be applicable for AY 2019-20 .? Can I file form 4 by ignoring capital loss incurred during FY 2017-18 as I am not interested to carry forward capital loss. OR I need to file return in ITRForm3 but file it as per provisions of presumptive income.
Is it compulsory that for presumptive income only ITR form 4 is to be filled or even ITR Form 3 can also be sued for such situation.
Pls take query early

I have filed GSTR 7 for the month of March 2019 by skipping the February month. Now I came to know about the said mistake but I am unable to find the solution for the same. How to file the GSTR 7 for February 2019 now. Please suggest in this matter.

I have filled gstr 3b of all month (From July 2017 to Dec 2018) but not filled gstr 1 of any month till now. So what will be the penalty for not filling gstr 1

Any one please give HSN CODE & RATE OF GST for MEDICAL IMPLANTS. Please help me.

Hi,

We are preparing a software. However we will outsource the coding to technical developer since that involves technical knowledge. In this scenario , how can we protect ourselves from technical developer delivering services on time and if he backs out during actual performance i.e non performance or performance not as per expectations. Similar situations must be experienced by others as well Eg in case of FMCG companies where actual manufacturers are different OR actors/performers/voice artist wherein there is lot of dependency on others and entire arrangement will be of no use if other party does not turn out.
Please advice if we can go for performance bank guarantee or any other procedure which is normally executed in such situations

Regards,

My father and his friend bought property jointly. My father has passed away. His friend agreed to transfer his 50% share in the property to us legal heirs without any consideration. We accordingly executed release deed in favor of us legal heirs without consideration. Can this execution of release deed and transfer of property share to legal heirs from non-blood relative constitue transfer under the income tax and whether any tax payable by legal heirs on this transfer of share in immovable property?

Dear Experts,
We Are going to sale....the issue is buyer is registered in Noida but he has branch also in Ghaziabad...now he is asking for delivery at Ghaziabad......Pls tell me in this case how the tax invoice will be made whether we should issue with the address of Noida head office with the procedure of billed to shipped to....or we should made the invoice directly in the name of Ghaziabad branch...

Pls suggest....

Thanks
Karan