Bad debt in the books of assesse was written off in Financial Year 31.03.2012 of Rs. 100000/-. During f.y ended on 31.03.2015 on 25.03.2015 a contract was executed between assessee and the borrower (whose debts was regarded as bad debt in f..y. 31.03.2012) that amount will be paid in F.y.01.04.2015 to 31.03.2016 by handing post dated cheques of different dates within F.y.01.04.2015 to 31.03.2016 totaling of Rs. One lakh those were duly passed.
Assessee on 25.03.2015 itself made entry by debiting the Debtor a/c of Rs. One lakh and Credited the Bad Debts Recovered account. Now it is being told that Bad debts recovered can not be credited on 25.03.2015 itself, because it is only the date of contract and it should have been credited during during F.y.01.04.2015 to 31.03.2016 totaling of Rs. One lakh when actually it was duly received.
Assessee has carried forwarded losses of more than Rs. one lakh and those can be set off only upto 31.03.2015.
Please guide what is the correct law.

I AM MEDICAL PRACTITIONER ALSO DISPENSE MEDICINES IN MY CLINIC. MY QUERY IS-
GST NO APPLICABLE FOR ME ?
SHOULD I APPLY FOR GST NO ?

I am thinking of letting out my residential property on a long term lease for 50 lakhs (property value 1.8Cr). The lease period will be for 5 years. The amount will be returned back after the lease period.
The monthly rental for this property in the market is 40K. I am planning to invest this amount in my business.
How should I file my tax returns to reflect this lease agreement and how to calculate my tax liability for the same.

what items to fill in last column where non GST exempted and zero rated supply has to mention

Dear Sir/Madam

With kindest rgds I would like to submit with the issue of RCM as follows:

I don’t have input credit to claim except RCM. I have yet not paid tax on RCM. Can we pay RCM in next month i.e. for Aug 2017 it will be paid in Sept.

Now if you go through my 3b. My first question is if I pay tax on RCM now for Aug 2017 expenses, whether I will get credit against my sale in Aug 2017

Or
In 3b my liability on RCM get sett-off against RCM then I will be indifferent by putting RCM as I will have to pay tax on my actual liability on sales.

Is this contention is correct.

I hope you will pleas guide me and oblige.

With lot of wishes

yours tarique rizvi

982 1630 130

why sole proprietors in India use a current account for their business, rather than a savings account, to avoid interest.

I don't understand why — if you account for the interest properly and pay tax on it, it shouldn't be a problem, right? I won't have a transaction every day on this account, so a savings account should be fine. I see no reason to refuse the interest if I can earn it
i am a medical professional.should i need current account ?
..

If a job worker return the good after completed the work to the principal manufacture then what amt of gst charged to manufacturer .

my client is composition dealer he purchases URD purchase of rs 4500/- . can he do self invoicing and not to pay reverse charge liability...and show this purchase in his purchase.....

In the 21st GST council meeting held on 9th sep it was mentioned that mark or name in respect of which actionable claim is available shall be deemed to be registered brand name. what kind of scenario will be covered under actionable claim. please give some examples. Dal or flour Miller's who uses their mark or name on the packing will be liable for 5% GST

DEAR SIR,
CAN I TAKE GST CREDIT OF MONTHLY WATER BILL,ELECTRICITY BILL AND TELEPHONE BILL.