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urgent help required regarding ISD...

Akshay (.) (149 Points)

07 March 2018

if being an Input service distributor my turnover is nil & only having input. Now, how would I transfer (distribute) my credit where my turnover is nil.

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5 Replies

sujith kumar dasa (banglore) (1496 Points)
Replied 07 March 2018

Input service distributor has to issue a invoice for transfer of credit but no taxable value is required for the same. the following details are required to be mentioned on same

(1) An Input Service Distributor invoice or, as the case
may be, an Input Service Distributor credit note issued by an Input Service Distributor shall
contain the following details:-
(a) name, address and Goods and Services Tax Identification Number of the
Input Service Distributor;
(b) a consecutive serial number not exceeding sixteen characters, in one or
multiple series, containing alphabets or numerals or special charactershyphen
or dash and slash symbolised as- “-”, “/” respectively, and any
combination thereof, unique for a financial year;
(c) date of its issue;
(d) name, address and Goods and Services Tax Identification Number of the
recipient to whom the credit is distributed;
(e) amount of the credit distributed; and

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Akshay (.) (149 Points)
Replied 07 March 2018

thank you for your reply. but my query was different. Let's take an example, if I am having credit of Rs. 100 under ISD & there is no outward supply in any of the state as Company is having only inward supplies & no outward supplies yet.

suresh kumar (Tax Consultant) (8 Points)
Replied 25 March 2018

Sir I have only pay slips and dont haveForm16, How to file My income tax return.As per Pay slips My salary 3,92,846 and as per 26AS is showing 4,62,675.Now which amount i should consider for filing my it return. I dont know how much HRA deduction allowed by employer.Kindly do the needful.