Supplier registred under MSME, as per act supplier outstanding we need to pay with in 45 days but supplier agreed company pay term after 45 days (as per purchase order) even through we need to pay any interest such amounts.

In Conversation to LLP chapter, in the books of Purchasing Company

(I) When the amount is payable to old firm by purchasing company

🔸Business Purchases A/c is debited and Old Firm A/c is credited

(II) When assets and liabilities taken over from old firm

🔸Sundry Assets A/c is debited and Sundry Liabilities a/c, Provision for bad debts a/c and Business purchase a/c, all are credited

Now my question is why Business Purchase account was first debited and then credited 😅 I am really confused

Hello Team.

I have query in HRA power of attorney,


Let's say I have given the POA to my mother, and in my absent she has given the home on rent.

Now rented who is depositing rent amount into my mother's bank account.

Will I liable to that income in income tax rule ? do I need to show that amount in my return in as clubing ? Or my mother is only liable for that?

Thanks
hemant

Hi,

We are a Trust running School, we not have GST
i want to know how i verify that our vendor paid B2C Invoice GST amount to Govt.

Can we file ITR under section 44AD for the FY 2021-22 if we have discontinued filling ITR under section 44AD in FY 2019-20?
What are the consequences?

To
The fellow experts
Can anyone give suggestion on how to change Mail Id that shows in master data of the Company at MCA website.
Regards
Abhijit

Dear Sir,
I want to ask an question regarding the deemed export My Firm Name name is ABC Pvt Ltd(Located at Uttar Pardesh) sell the goods to to our party Prime Goods Pvt Ltd (Which is located at Kerla and he is aleardy registered in Export promotional Council) on 16th october, 2022 at 0.1% concessional Rate(Deemed Export) Basic Value 2850255/- @0.1% 2850/- total Invoice Value 2853105/- apart from of this, i also sell the goods to my another party whose name is voltaa india pvt ltd (located at Delhi) on 17th october, 2022 basic value is 2537932/- @18% 456828/- total invoice value 2994760/- my october month all inputs is 409628/- (my all input are exist under 18% tax slab) i have aleardy filed the october, 2022 return in month of november 2022 after all itc adjustment.
So, I want to know about Can i eligible for the refund under Deemed Export or Inverted Duty tax Structure (one of these)?
What is the formula for find out refund amount (under deemed export or inverted duty structure) ? and please elaborate for this calculation
whom i should claim refund under deemed export or inverted duty structure please suggest? and what is the document should i obtained for filling the refund process and also explain this example ?
Thanks & Regards
Abc Pvt Ltd
Email: sharma.hunny826@gmail.com

We I started to register AD code at ICEGATE it shown that I have already registered. When I was checking for my password at forgot password with my PAN No. it shown User ID is wrong.
Please let me know how to get the User ID and Password from Icegate.

Please help me to regiter the AD code at Icegate.

Thanks

Venugopal Krishnan
9324040779

Dear Experts,
Please advice , My turnover for the F.Y 21-22 was 1.2 CR. I have filed ITR 5, now received a mail form IT for "Rectify the defect of Return" for Tax Audit . Please advice

Can a Proprietor having an active GST number having business activity of Mfg, enters into a partnership firm having GST No. transfer the Plant & machinery of the Proprietory business to the Firm as transfer as his share of capital contribution in the new firm.

So can this transfer be done ?
Does this transfer attracts GST ?