closing stock can be shown in balance sheet??? or it has to go through p &L

A & B are in the same of line of construction. A gives contract to B to build an apartment. 'A' also SELLS the material worth 200 lacs to B and B pays the amount.
So it is B2B transaction. By selling the goods, A also transfer the ITC worth 40 lacs to B. For B it is Purchase Tax ITC. B completed the construction and raises bill on main Contractor A for Rs.300 Lacs + GST @ 18%. Whether the ITC in the credit of 'B' of around 40 lacs (having purchased from 'A') can be claimed to OFF-SET the sale invoice raised on 'A'. Whether such a claim is okay ? By adjusting the sales including GST @ 18% can be adjusted against ITC available to the credit of 'B' ?





DONE

I know there is 10% VAT on sale of Liquor in restaurant or permit room but what is the Rate of VAT on Sale of Liquor in wine shop?

Is it same as resturant?

1) If you sale bonus shares in year 2025, what COST will be considered for calculating capital gain income.

2). For any particular company, If we buy number of shares on multiple dates .
Cost for the purpose of capital gain income , to be taken based on average cost or FIFO method

IF ORDER PASSED BY CIT(A) AND NO APPEAL FILED AGAINST ITAT FOR CIT ORDER UPTO 22.07.2024, THEN IN FORM 1 SUCH APPEAL STATUS DEEMED AS AGAINST CIT?

I am trying to submit Trust's account on Maharashtra charity commission site but site is not working. I have tried all possible ways to submit. Please help.

Transport charges paid by our clearing & forwarding agent on behalf of us and invoice raised for import
Consignment clearing forwarding charges together with transport charges.
Transport invoice name is in our favour. Only we reimbursed the same.
Can on this transport charges we are liable to pay gst RCM

Dear Sir,

we have deducted TDS @ 2% under 94 C, but his PAN is inoperative in the month of Dec 2024 bill booked.

now he linked with aadhar, becomes operative,

we are liable to deduct 20% or 2% in Dec 2024 because of we are filing TDS return

please confirm

Our cess building is ready for OC
Builder demanding 5% gst now
Area offered as per mhadha 33(7)
Rule ..405 sq feet all tenants received
Are we entitled to pay
Or any award / tribunal contravening
Gst payment by tenants?
Pl answer

Mr Amit and his two friends Rajesh and Rakesh are planning to invest in Alternative Investment Fund (AIF).
They are planning to invest this amount of Rs 1 crore.
The minimum requirement to invest in AIF is Rs 1 Crore (i.e. 1,00,00,000)
They decided to form “Joint Venture” and open a bank account in the name of “Joint Venture” and collect money invest in AIF.

Income Tax Treatment of " Joint Venture"
Query 1 - Under what head income of Capital gains, interest income and Dividend Income from investments will be taxed in the hands of “Joint Venture”?

Allowable Expenses for " Joint Venture"
Query 2 - Whether “Joint Venture” allowed expenses incurred in earning Capital gains, interest income and Dividend Income from investments?

Tax Treatment of Income Distribution to Members
Query 3 - Under what head distribution of income of Capital gains, interest income and Dividend Income will be taxed in the hands of Mr Amit, Rajesh and Rakesh?

Allowable Expenses for Members
Query 4 - Whether Mr Amit, Rajesh and Rakesh allowed expenses incurred in earning Capital gains, interest income and Dividend Income from investments of their “Joint Venture”?

Deduction under Section 54F for Capital Gains from Investments in AIF
Query 5 - Whether Mr Amit, Rajesh and Rakesh allowed exemption under section 54 F for Capital gains from investments in AIF?
Query 6 – Can the investment in AIF be made in the name of “Joint Venture”
Query 7- Can “Joint Venture” be named in the combined name of three investors i.e. Mr Amit, Rajesh and Rakesh