Dear Alls,

My Company received a bill of Rs 1, 45,000 from Advocate as Professional Fee and bill date is 15.05.2019. This bill actually for FY 2018-19 and and is received every year in March month. Now, we have already paid TDS of RS.20000/- on Professional Fees of Rs.200000/- for AY 2019-20.

1) Now, we have taken Rs.1,45,000/- as PY Professional Fees Expenses in Profit & Loss Account and Balance of Rs.55000/- shown as Advance and will be adjusted in Current FY. What should be the GST return for this transaction. Now the time limit for GST Return for March-19 is over. Can we take this in april-19.

2)Can we show 20000 TDS against the amount of 145000 in TDS return for FY 2018-19. Is it possible.

Please give your valuable response.

Thanks in advance

Sir,
I had cash deposited of Rs.14,19,500/- during the demonetization and i filed the return of income for F.Y.2015-16 on 22/11/2016 and i have had cash on hand on 31/03/2016 of Rs.14,33,000/- AO ask clarification of cash deposit, why you kept cash till the demonetization i.e 01/04/2016 to 07/12/16. so advice me how to explain to AO in this case.

Respected Sir's

As per above stated subject I am working in a Partnership Firm as an accounts position.
Two partners started working as a partner through partnership firm.
One of Partner paid the amount through his saving account for purchase of goods from vendor.

So please tell me how to treat this entry for capital account as well as payment made to vendor.

Regards
Ashok

Sir/Mam,
Trust are not able to meet their requirement of 85% utilization from the income of the trust property. Because the donation received at the end of financial year. Is it necessary to file form 9A or form 10 or both.


Thanks in advance

My friend gst has been cancelled he didn’t replied to the department as there is a liability to pay tax he didn’t filed the returns and it got cancelled now he wants to buy stock from another state the supplier is saying your gst is cancelled I cannot generate way bill now he wants the gst number under the same trade name how can he get

I have been trading in potatoes. Potatoes are purchased from outside state and are sold to local consumers/retailers. Railway freight and truck freight are paid by me. Potatoes turnover is in the range of 50 to 60 lac. I think, GST is not required on potatoes. But, whether RCM is payable on freight ? If yes, Whether I will have to get registration in GST ?
Please guide me.

Dear Sir,

Please explain GST benifit under Notification 40 & 41 /2017, (23-10-2017), for export purpose.

please guide how it is work, & under this notification which material is allowed for taking a benefit like MS /SS PIPE , MS / SS SHEETS & PLATES, FLANGES, VALVES ETC.

Sir

My real sister having US citizenship, was to come to India,for wedding purchases in India ,for her Son's marriage which was to be performed in US only. While coming and during her stay with me for that purpose of wedding purchases , her spouse , transferred some amount to meet up her purchases expenses, in my saving a/c here in India, from US, in dollars, but was credited in my saving a/c in India in Rs.

She spent all money which was earlier sent by her spouse,on her purchases here , and went back to US

Query:-
1. Is there any requirement to report this transaction when it is neither an income nor a gift , in ITR 1 or 2 .( individual )

2.How this receipt can be seen in ITax Act otherwise.

Pls take-up this query.

Dear Sir,

One of my client has purchase a land on 15/06/2013 and constructed a residential property on that land on 30/09/2017 and the same was sold out on 08/05/2018.

Now, the question is that under which capital gain head it taxed, Short Term or Long Term? In the document there is no any specification regarding the Land Cost and Construction Cost.

In my opinion, in the above case, both the capital gain attracted and Land Value Taxed by Long Term and Construction Value taxed by Short Term. And the Sale value considered by local Stamp Authority.

Am I right? please guide

My client received an interstate bill with CGST & SGST as against the IGST on the invoice, however even in GSTR-2A, credit under CGST & SGST has been received. How shall I proceed. Shall I book this as Inter-state expense or a local one..?