RECIEVED A DEMAND ORDER ASKING TO PAY PENALTY OF Rs 40000/- IGST-20000/- CGST-10000/- SGST-10000/- WE HAVE REVERSED THE ITC AND PAID THE INTEREST TOO THROUGH DRC 03 ON 5.12.23 BUT WE HAVE RECIVED THE SCN ON 29.9.23

NOW THE OFFICER IS SAYING TO PAY PENALTY AS ABOVE THE TAX AMOUNT WAS AROUND 5000/- AND INTEREST WAS AROUND 4000/- I AM NOT IN POSITION TO PAY THE PENALTY WHAT SHOULD I DO

Dear All,

Please suggest me the applicability of Form 27E under Income Tax Act, 1961.

SIR,

IF BUSINESS TURNOVER BELOW 2 CRORE , IF GSTR9 FILED AFTER DUE DATE 31/12/2023 , CAN PENALTY PAYABLE ?

My client's TDS was deducted. Before filing of Return of Income and claim of refund of TDS, my client is died. How to get refund if bank account of client is not active. this is a case of year 2018.

From:
CA laxmi Mittal
Vapi
28-12-2023

Sir!
We have uploaded GSTR-9C & it is not validating due to reasons not known.
After generation error report , we do not find any "Portal validation error " in the error file generated.
We have downloaded GSTR-9C utility today only.

Pl. help

R/Experts

We are running the coaching center for PTE and ILETS and deposit the student fee. For this we have received the commission through taxable person under GST and directly from foreign Universities . My query are as under :-
1. Can we issue the Invoice to Recipient ( registered under GST) without charging GST and he pay the GST under RCM for commission received through him.
2. Can we issue the GST invoice in favour of foreign Universities without GST ( as 0 rated )
Kindly guide.

i am director of a private limited company i borrowed money from my father as a loan we agreed for 2% interest per month for loan amount
my question is:
1)can director father give loan to company?
2) is TDS need to deduct if company pay interest to DIRECTOR father
3) can company show interest paid to director father AS EXPANSES?

Sir, one of my client has received commission which is other than receipts shown in a proprietary Firm registered in different state in GST. Whether the said personal commission receipt is also liable to be shown in above firm and accordingly GST to be paid ?

ABC Ltd Outstanding interest of Rs.5 Lacs converted into Loan of 5 Lacs or Debentures of 5 Lacs.
Does interest paid on above 5 Lacs loan or 5Lacs Debentures (which is a interest converted loan/ Interest converted into debentures), allowed a business expenditure for Income Tax Purpose?.

Sir, We have missed payments for Sep-2023 but now after 15th November portal is not allowing us to pay or make challan in monthly contribution.