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Top 50 Question
Que. Id Date Description
38150
May, 18
2019
AUDIT - ( REGARDING PROVISIONAL BALANCE SHEET )

1. Can a Chartered Accountant Sign a Provisional Balance Sheet? 2. If yes, Is UDIN to be generated for the same? 3. If not, what is documentary proof to be given to client to satisfy his needs. My client needs Provisional Balance Sheet as on March 31,2019 in order to apply for one of the tenders. 4. Please Advise as early as possible because tender is time bound.

BY: Ravinder Agrawal

Total Answers : 2 | View Answers | Post Answers

38151
May, 18
2019
GST - ( DIFFERENCE IN INPUT CREDIT WITH GSTR 2A )

If a person has claimed Input credit on transport service for a few months but not paid reverse charge, In such a scenerio ,Can he correct the figures of input in GSTR 9 and pay tax due from IGST Credit ledger

BY: Mahesh Kumar

Total Answers : 0 | View Answers | Post Answers

38148
May, 17
2019
GST - ( INPUT IN GST )

WHETHER INPUT CAN BE CLAIMED ON INTERIOR DESIGN? PLEASE SPECIFY THE ANSWER WITH SECTION.

BY: CA Neha Gupta

Total Answers : 2 | View Answers | Post Answers

38149
May, 17
2019
GST - ( GST ON CAPITAL GOODS )

Whether GST Input on capital goods can be taken in a single month or 60 Installments? 60 Installments applicable only when there is exempted turnover is there i.e., 42 or 43 rule? Also if we have to take on installment basis, while filing GSTR 3B liability is not offsetting with IGST when CGST and SGST credit available for payment of CGST and SGST output, which results in difference between books and credit ledger of GST.

BY: VINAY BHARGAV KUMAR G

Total Answers : 0 | View Answers | Post Answers

38146
May, 16
2019
GST - ( GST REGISTRATION WRONG JURISDICTION )

Sir, At the time of registration, we have selected wrong jurisdiction. How do we change the jurisdiction wrongly selected?

BY: SANTHANU R

Total Answers : 3 | View Answers | Post Answers

38147
May, 16
2019
MISC. - ( SOLUTION FOR EXAMINATION PAPER LEAKS )

Hi All, A company in which I am a director has a patent - pending technological solution to the problem of Examination paper leak. They hope to implement the solution with ICAI, does anyone know what's the procedure for the same?

BY: Prajwal P A

Total Answers : 0 | View Answers | Post Answers

38145
May, 15
2019
GST - ( GST REGISTRATION )

THANKS A LOT KHANDELWAL SIR TO ANSWER MY QUERY NO 38142. SIR I WANT FURTHER CLARIFICATION REGARDING NOTIFICATION NO. 05/2017 - CENTRAL TAX DATED 19/06/2017 THAT TURNOVER LIMIT IS NOT IMPORTANT FOR PERSON MAKING ONLY SUPPLIES OF TAXABLE GOODS/SERVICES WHICH ARE COVERED BY RCM U/S 9(3). IF TURNOVER IS MORE THAN 20 LACS FOR SERVICES COVERED UNDER SECTION 9(3) THAN ALSO NOT REQUIRED TO OBTAIN REGISTRATION AND/OR CAN SURRENDER GST REGISTRATION? THANKS IN ADVANCE

BY: CA. TASWALA MAYUR HEMENDRA

Total Answers : 2 | View Answers | Post Answers

38143
May, 14
2019
DIRECT TAXES - ( REGARDING INVESTMENT IN NEW PROPERTY )

An Assessee is having two residential flats and now wants to purchase one more Residential Villa which is under Construction and also Registered under RERA. Assessee is making Down payment of RS. 50 lakhs and will get possession after one and half years before which he will gift the existing one residential flat. Whether such payment of RS. 50 lakhs will be treated as Advance or Investment Kindly give your Valuable Suggestion.

BY: GOPAL KUMAR AGRAWAL

Total Answers : 4 | View Answers | Post Answers

38144
May, 14
2019
CORPORATE & OTHER LAWS - ( FINANCE BUSINESS )

A partnership firm wants to start Lending business. I.e Giving Loans to Individuals/business Concerns and earning Interest. Whether it can start such business as a Partnership Concern and Whether It will have to get registered with RBI.

BY: Mahesh Kumar

Total Answers : 3 | View Answers | Post Answers

38142
May, 13
2019
GST - ( GST REGISTRATION FOR DSA )

AS PER GST NOTIFICATION NOW A DAYS INDIVIDUAL DSA OF BANKS / FINANCIAL INSTITUTION ARE COVERED UNDER RCM U/S 9(3). CAN INDIVIDUAL DSA RECEIVING TOTAL YEARLY COMMISSION LESS THAN Rs. 20 LACS FORM BANK / FINANCIAL INSTITUTION SURRENDER HIS GST REGISTRATION?

BY: CA. TASWALA MAYUR HEMENDRA

Total Answers : 2 | View Answers | Post Answers

38139
May, 12
2019
GST - ( REVERSE CHARGE ON GTA SERVICE FOR PROPRIETORSHIP CONCERN )

A transporter having GST no is issuing bills of freight but GST Amount is not written any where nor It is mentioned Reverse charge to pay. In such situation what should be done

BY: Mahesh Kumar

Total Answers : 2 | View Answers | Post Answers

38140
May, 12
2019
GST - ( REVERSE CHARGE ON GTA SERVICE FOR PROPRIETORSHIP CONCERN )

A transporter having GST no is issuing bills of freight but GST Amount is not written any where nor It is mentioned Reverse charge to pay. In such situation what should be done

BY: Mahesh Kumar

Total Answers : 2 | View Answers | Post Answers

38141
May, 12
2019
DIRECT TAXES - ( INTEREST PAID WITHOUT TDS TO NBFC )

A Proprietorship concern subject to Tax Audit repays installment of Mortgage loan in installments to NBFC. It is not deducting TDS . Whether Full amount of Interest paid can be disallowed or 30% Please clarify

BY: Mahesh Kumar

Total Answers : 4 | View Answers | Post Answers

38137
May, 11
2019
MISC. - ( CONVERSION OF SOCIETY FROM STATE TO ACROSS INDIA )

We have a society registered in Karnataka last 7 years back, which is running an educational institute, they want to open a school in other states now, Hence they want to register this society under Indian Societies act. Can any one guide me on the process.

BY: Deepak Pai

Total Answers : 4 | View Answers | Post Answers

38138
May, 11
2019
GST - ( GST SERVICE )

A person is selling on E Commerce and had to take GST number though sale was less than 40 Lacs. Now this person wants to take insurance agency where he will get commission from Insurance company. Whether this service will be required to be added in GST .

BY: Mahesh Kumar

Total Answers : 2 | View Answers | Post Answers

38133
May, 10
2019
GST - ( AVAILMENT OF ITC PAID ON RCM BASIS [U/S-9(4)] AFTER 31/03/2019 )

- Tax Paid on RCM basis for inward supply made from unregistered supplier [u/s-9(4)] in the month of Sep 2017. - we already have filed GSTR 3B till March 2019. Now we came to know that ITC was not booked in GSTR-3B of sep 2017 for the above case. So now can we take ITC in GSTR-3B of April 2019? What if we can take ITC in april 2019 then how we need to report this in GSTR 9?

BY: CA Gaurav Kumar Gupta

Total Answers : 0 | View Answers | Post Answers

38134
May, 10
2019
GST - ( INPUT IN GST )

Whether ITC can be claimed on general insurance or not? Whether General insurance is belong to section 17 (5) of CGST Act,2017 regarding block credit?

BY: CA Neha Gupta

Total Answers : 1 | View Answers | Post Answers

38135
May, 10
2019
GST - ( GSTR 9 )

It is time to file Annual return now. We have to match GSTR 1 figures with GSTR 3B Figures and also Figures as per books. Though We can match these figures with some effort, However We can normally not match GSTR 2A figures with Input claimed in GSTR 3B which according to Govt should ideally match but practically will not match in majority of cases because of several reasons.Should we start filing GSTR 9 despite being difference in GSTR 3B and GSTR 2A if We are in posession of invoices

BY: Mahesh Kumar

Total Answers : 0 | View Answers | Post Answers

38136
May, 10
2019
GST - ( GST )

Dear sir, One of our client is running nursing college. For that he has rented is own building. and for residence of student he has made hostel on residential property. All the rent is received by college and then given to the assessee. The college is not registered u/s 12A of income tax act. There is seperate rent agreement for College building and for Hostel building. My query should the assessee charge GST on rent received for hostel building as it is mainly for staying and no other facility

BY: VIPIN GUPTA

Total Answers : 1 | View Answers | Post Answers

38131
May, 08
2019
GST - ( SALE OF MEIS DUTY CREDIT SCRIP TO OTHER PERSON )

Following are the queries: 1. Sale of MEIS Duty Credit Scrip to other person is taxable or exempted or Zero Rated Supply? 2. MEIS Duty Credit Scrip is duty drawback or not. 3. Whether it is required to reverse ITC claimed on sale of MEIS Duty Credit Scrip which i get on sale of export of goods without payment of tax under LUT.

BY: CA Neha Gupta

Total Answers : 1 | View Answers | Post Answers

38132
May, 08
2019
GST - ( AMENDMENTS IN GSTR1 FOR JULY TO OCT 2017 )

During Filling Gstr1 of a Regular Dealer For The Priod Of July ,Aug,Sept & Oct ,2017 Business To Business (B2B) Transaction Wrongly Posted As Business to Customer (B2C) Transaction And Calls For the Amendments.Otherwise The Purchaser Will be deprived of ITC. We Look Forward to your Active Support and co -operation. With Regards CA G.Kar

BY: CA Goutam Kar

Total Answers : 1 | View Answers | Post Answers

38129
May, 07
2019
GST - ( GST RATE APPLICABILITY )

Completion Certificate is received before 31st March, 2019. However, Advances for Flats sold before receipt of Completion Certificate are still pending upto 31st March,2019. What Rate of Tax on Advances received after 1st April, 2019 ? 1% / 5% or 12% Also, whether the option to Opt for New Scheme (1% / 5%) is available or not in the aforesaid case.

BY: Harshal Punamchand Jain

Total Answers : 2 | View Answers | Post Answers

38130
May, 07
2019
GST - ( DROP SHIPPING BUSINESS )

Person from India order goods from Alibaba China and deliver to America any other person. Payment done by paypal to china and get payment from america same by paypal . Net Payment Reflected in bank account. Any GST applicability ? Any other law applicability ?

BY: Jujmeet Singh

Total Answers : 1 | View Answers | Post Answers

38126
May, 06
2019
GST - ( IGST CREDIT/REFUND OF RE-EXPORT OF CUSTOMS REJECTED GOODS )

An import is made (100 Tons). Bill of entry for home consumption made and IGST paid on full 100 Tons. . On physical examination, customs disallowed import of 15 tons. This 15 tons is re-exported. Question 1. Is it possible to claim IGST ITC on full 100 Tons or on only 85 Tons? 2. If ITC allowed on 15Tons, whether this ITC on 15Tons can utilised on other domestic sales of company or have to be applied for refund?

BY: Sivaraman A.R.

Total Answers : 3 | View Answers | Post Answers

38127
May, 06
2019
GST - ( GST REFUND )

One of our client is in export of services. Its jurisdiction is with state authorities. We have filed refund application with state jurisdiction. They have processed only SGST portion of refund. They are telling us to submit separate application with centre jurisdiction for processing of CGST portion. Do we need to file two separate applications for SGST & CGST refund?

BY: SANTHANU R

Total Answers : 2 | View Answers | Post Answers

38128
May, 06
2019
DIRECT TAXES - ( MAT IN CASE OF REDUCTION OF SHARE CAPITAL )

X Private Limited is a subsidiary of a foreign company. The Share capital of X Limited is Rs.7 crores and there are losses in the Company and the reserves and Surplus as on 31st March 2018 is as follows: Profit and (Loss) Balance – (63.7 crores), Security Premium – Rs.60 Crore, Net loss under reserves- Rs.3.7 Crores As per Mat the losses carried forward is Rs.2.36 Crores. The company wants to reconstruct the company through reduction of share capital by reducing the losses. The shareholder are willing to forego Rs.2.5 Crores amount in share capital, however there are many questions which are to be answered: 1. Whether Mat loss is to be completely reversed and we need to pay tax on remaining Rs.0.14 Crores or we may constitute that the reduction is out of those losses which are not allowed as loss under Mat (i.e. Mat considers lower of unabsorbed depreciation and book loss, so book shows more loss) and hence no reversal of loss shall be done? For Eg: If losses for three years are as follows: Year 1 Loss other than unabsorbed depreciation - 25 Crores Unabsorbed Depreciation - 0.15 Crores Mat Loss carried Forward - 0.15 Crores Year 2 Loss other than unabsorbed depreciation - 2.5 Crores Unabsorbed Depreciation - 0.75 Crores Mat Loss carried Forward - 0.75 Crores Year 3 Loss other than unabsorbed depreciation - 4.5 Crores Unabsorbed Depreciation - 1.25 Crores Mat Loss carried Forward - 1.25 Crores After Reduction the entries passed shall be as follows: Share Capital A/c Dr 2 Crores To Loss of 1st year A/c 2 Crores Since the amount is directly reversed in reserves and surplus no addition is to be done in MAT calculation. Losses remaining post the reduction: Year 1 Loss other than unabsorbed depreciation - 23 Crores (25 – 2 crores reduction) Unabsorbed Depreciation - 0.15 Crores Mat Loss carried Forward - 0.15 Crores Year 2 Loss other than unabsorbed depreciation - 2.5 Crores Unabsorbed Depreciation - 0.75 Crores Mat Loss carried Forward - 0.75 Cro

BY: shraddha

Total Answers : 1 | View Answers | Post Answers

38125
May, 04
2019
MISC. - ( UDIN )

WHETHER UDIN NEEDS TO BE GENERATED FOR GENERAL ATTESTATION ALSO. LIKE WE DID ATTEST BALANCE SHEET COMPUTAION AS ATTESTED TRUE COPY OR IT IS ONLY FOR CERTIFICATES PLEASE REPLY WITH SOME REFERENCE ALSO

BY: SACHIN

Total Answers : 2 | View Answers | Post Answers

38124
May, 03
2019
GST - ( GST AUDIT )

WHETHER GST AUDIT UNDER IS EXEMPT FOR GOVERNMENT COMPANIES THOSE ARE SUBJECT TO CAG AUDIT AS PER PROVISO UNDER GST AUDIT.

BY: CA ARPIT KEDIA

Total Answers : 3 | View Answers | Post Answers

38122
May, 01
2019
GST - ( QUERY IN GSTR 9 )

One of our clients is in Logistics business, the turnover consists of outward supplies on which tax is paid both on forward charge and reverse charge by the service receivers. In filling the GST returns i.e 1 & 3B, th exempt turnover(Outward supplies on which tax in paid on reverse charge by service receiver) is not considered at all. My question is how do i rectify it and should i include it in GSTR 9 or not?

BY: Ankur Tibrewala

Total Answers : 2 | View Answers | Post Answers

38123
May, 01
2019
Income from Other Sources - ( CASH GIFT FROM RELATIVES )

Can A (son) receive cash gift of Rs 8Lacs from her mother B? Will this be treated as inocme of A or B or Both? Do they need to execute the Gift Deed ? Thanks

BY: CA. BISHT RAKESH

Total Answers : 5 | View Answers | Post Answers

38120
Apr, 30
2019
GST - ( DISCLOSURE IN E-WAY BILL )

My client is dealing in Solar panel business in which they get subsidy from Government , now their invoice contains particulars as below Taxable Value - 100 Tax - 18 Subsidy - 5 Invoice value - 113 (Government is giving subsidy only if invoice is made as disclosed above)(it is opposite to valuation rule which clearly mentioned that value of supply dose not include amount of subsidy given by government) now , what should be the value of E-WAY bill ? because even slight change between invoice value and E-WAY bill will cause him huge penalty by mobile squad. And also suggest how value should be shown in GSTR-1 ? how subsidy should be disclose ?

BY: parth

Total Answers : 2 | View Answers | Post Answers

38121
Apr, 30
2019
GST - ( SEZ SALES )

Sez sales was not mentioned in GSTR 1 and 3B separately, now for claiming refund of IGST what should be done ?

BY: CA. TOMAR MAHENDRA SINGH

Total Answers : 1 | View Answers | Post Answers

38117
Apr, 29
2019
DIRECT TAXES - ( INVALID ITR OF AY 2017-18 )

My client has come to know that his ITR for AY 17-18 has become invalid due to non reply of 139(9) notice. What remedy is available now? More than Rs 3 lakh tax was deposited related to that AY.

BY: CA. GHOSH SAMRAT

Total Answers : 2 | View Answers | Post Answers

38118
Apr, 29
2019
GST - ( INPUT CREDIT IN WORKS CONTRACTS )

Mr. A is a Government Contractor engaged in :- 1. Construction of government buildings & Roads 2. Engaged in Water Boring & grounding of water Pipelines The Works involve both goods as well as services of labour. Now in both cases contractor is purchasing goods like cement , building materials , water pipes etc as required for completion of projects with the help of owned labours. Please clarify whether the contractor can take the input of GST paid on the goods procured for the both projects or not (consider separate projects). What are the conditions for availment of GST Inputs. What will the GST Rates on the above projects. Thanks in advance.

BY: VIPIN KUMAR

Total Answers : 0 | View Answers | Post Answers

38119
Apr, 29
2019
GST - ( INELIGIBLE INPUT CREDITS )

We have filed application for refund under Inverted duty Structure.The Concerned Official has demanded Annexure A containing Purchase details invoice wise Here We have to bifurcate purchase input into For raw material/For Capital Goods/For Services (Wash and Dyeing) Whether Input amount paid for Capital Goods /Service Sector will be ineligible for Refund Purpose?

BY: Mahesh Kumar

Total Answers : 1 | View Answers | Post Answers

38116
Apr, 28
2019
GST - ( OMISSION OF SALE BILL IN FINANCIAL YEAR 2017-18 )

One Sale bill of a firm was omitted while filing GST Returns of an asessee during 17-18. However same was added in 2018-19 in June 18 Sale return as well as GSTR 3B. Whether such bill should be added in GSTR 9 for 17-18 in table 10-11 but problem is they have not shown this bill in their financial books for 2017-18 also .Can we leave this bill for 18-19 filings

BY: Mahesh Kumar

Total Answers : 2 | View Answers | Post Answers

38115
Apr, 27
2019
GST - ( REGISTRATION LIMIT FOR GOOD AND SERVICES )

I would like to know present registration limit ( whether it is Rs 40 lakhs or Rs 20 lakhs ) and whether it is same as for goods and services or different ? . 

BY: samirkumar gokulbhai kasvala

Total Answers : 3 | View Answers | Post Answers

38114
Apr, 26
2019
GST - ( REGISTRATION )

A dealer is already registered in maharashtra and has place of business in maharashtra only. He has purchased goods through tender in Madhyapradesh (MP). Goods is stored in MP . Now dealers wants sell this goods across the india. Whether dealer would be required to take registration in the state of MP or he can sell though GSTIN of Maharashtra ?  

BY: samirkumar gokulbhai kasvala

Total Answers : 1 | View Answers | Post Answers

38111
Apr, 25
2019
Profits & Gains of Business & Profession - ( AMENDMENT U/S 44 AE )

Pl. clarify applicability of Sec 44AE in view of amendment made by Finance Act 2018 for current F.Y. 18-19 i.e. A.Y. 2019-20.The amended section uses the words "gross vehicle weight or unladen weight as the case may be @ Rs. 1000/- per ton. Now, the R/C of a heavy Goods Vehicle(HGV) mentions both the weights i.e. Gross Vehicle weight 49 Tons and Unladen weight 12.2 Tons meaning thereby that the HGV can load maximum 36.8 Tons of Goods. Presumptive Income till March 18 was Rs. 7,500/-p.m. hence if Unladen Weight is taken it will be Rs. 12200/-per Truck p.m. but if Gross Vehicle Weight is taken it will be Rs. 36,800/- per Truck p.m. making it about 5 times more than of the present limit. You are requested to clarify why both the weights have simaltaneously been mentioned in the Section, which weight has to be considered for computing Income u/s 44AE and why the word as the case may be has been mentioned therein. As per new ITR form for A.Y. 2019-20, “TONNAGE CAPACITY” is being asked for the calculation of income u/s 44AE. Kindly clarify what should be the tonnage capacity in above case either 12.20 Tons or 36.80 Tons or 49.00 Tons ?

BY: JAIN RITESH KUMAR

Total Answers : 1 | View Answers | Post Answers

38112
Apr, 25
2019
GST - ( COMPOSITION DEALER )

There is one dealer who is registered in GST under composition scheme. The said dealer is providing various material and services to the Government Entity. Now the Government entity is deducting TDS @2% on the payment made to the supplier. Now the query is how that Composite Scheme Registered Dealer get Credit of Such TDS Amount which is deducted by Government Entity. The Government Entity is making more than 2,50,000.00 payment to the dealer. Please help to come out from this issue. As the Dealer is registered under composition scheme, he is not eligible to view TDS Credit in his Return Tab. How can he get his TDS Amount back? Thanks in advance.!!!

BY: CHIRAG DIPAKKUMAR SHETH

Total Answers : 0 | View Answers | Post Answers

38113
Apr, 25
2019
GST - ( GST ON REIMBURSEMENT OF EXPENSES )

While issuing Statutory Audit Bill , Should we add Travelling exp bill without charging GST Travelling Exp include Lodging charges on which GST has been charged by Hotel

BY: Mahesh Kumar

Total Answers : 1 | View Answers | Post Answers

38108
Apr, 24
2019
AUDIT - ( GST AUDIT )

I have a query on GSTR 9C. I have my offices in the state of Punjab, Maharashtra, Tamilnadu and Gujrat. PAN is the same but the GSTN is different for each state. The aggregate turnover of all the states is more than 2 Crore But the state wise turnover of each state is less than 2 crore except the state of Maharastra which is more than 2 Crore. In this position Can we file GSTR9C of each state separately or for only the state of Maharashtra?

BY: CA. ASHWANI KANT

Total Answers : 2 | View Answers | Post Answers

38109
Apr, 24
2019
GST - ( RULE 42 )

While disallowing input with respect to exempted turnover, what is the total turnover to be taken for the month? Only the turnover which the input is utilised for or the total turnover even such inputs are not utilised? Ex. Interest Income, Rent income etc.,. If we have to consider entire turnover, we know interest accrued income in later months checking the TDS. But we have to file GST Return early. Even we estimate such incomes they are not accurate. Also another situation where inputs are availed in one month and there is only exempted turnover during the month but taxable supply occurred in later month we have to disallow the entire input. In later month we have to pay entire tax without input. There is no provision in GST to consider the exempted turnover and taxable turnover to total turnover on yearly basis for year end adjustment.

BY: VINAY BHARGAV KUMAR G

Total Answers : 0 | View Answers | Post Answers

38110
Apr, 24
2019
Profits & Gains of Business & Profession - ( IMPLICATION OF IND AS 115 FOR REAL ESTATE DEVELOPERS )

Wef FY 18-19, Ind AS 115 has replaced Ind AS 18 and 11. Most of the listed entities in real estate sector has shifted to product completion method instead of percentage completion method in respect of incomplete projects, as noted from their quarterly results. Most of them have recognised negative impact on their net worth as at 1.4.18. For FY 2018-19, real estate companies would be recognising revenue based on product completion instead of percentage completion. My query is, for income tax purpose, would such entities be required to prepare a separate books of account i.e. as per Percentage completion since, ICDS on Construction contracts permits only percentage completion or they can continue to use accounts prepared as per new revenue recognition standard?

BY: Deepak Gupta

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38106
Apr, 23
2019
GST - ( GST )

Dear Sir, As there is a change in GST provision regarding gst rate from declared tariff to "Value of Supply". In my case the room rent declared is Rs 900 now the person has breakfast orders a bisleri bottle and other services and his bill goes to Rs 1350/- will we have to charge GSt or not. Can we give two bills one for stay and other for Service. and get rid of GST or we will cought under composite supply and will be liable to GST

BY: VIPIN GUPTA

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38107
Apr, 23
2019
GST - ( CLARIFICATION REGARDING NEW REAL ESTATE GST RATES )

Respected sir, I have doubt that whether contractor(constructs resedential house) is eligible for new rates (1% and 5%). our case is that owner who is having or purchased plot of land and enters into agreement with contrator for construction of house. now question is that whether contractor have to pay gst with old rates or new rates? In every notification the word promoter is mentioned. In notification defination of promoter is to be seen as per RERA act. in that promoter includes contractor.At what rates Gst is applicable to contractor?

BY: HARDIK KETANKUMAR THACKER

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38105
Apr, 21
2019
GST - ( REVERSAL OF ITC BY REAL ESTATE DEVELOPER BEFORE 01 APRIL 2019 )

Whether input tax credit shall be reversed by a Real Estate Developer engaged in providing construction services of Residential/Commercial complex where the whole/part consideration has been received before issuance of Completion certificate ?

BY: DEEPAK ARYA

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38102
Apr, 19
2019
GST - ( RCM UNDER GST )

Supplier is registered in Karnataka, purchased machinery from Maharashtra. however for transportation supplier received the service of GTA from Karnataka. query is 01. whether supplier is liable to pay GST under RCM for GTA service, as this service is capitalised in books of account. 02.Will it be input service or capital goods under GST.

BY: Sachin

Total Answers : 1 | View Answers | Post Answers

38103
Apr, 19
2019
GST - ( GST LIABILITY )

PROP FIRM REGD WITH GST PROVIDES TRANSPORT SERVICE AND SO ON ITC IS CLAIMED ON CAPITAL GOODS PUCHASED,(TRUCKS). NOW A NEW PARTNERSHIP FIRM IS FORMED AND TRUCK ARE BROUGHT IN FIRM AS CAPITAL CONTRIBUTION. WHETHER GST ON TRUCK IS APPLICABLE ON PROP FIRM.???

BY: YOGESH GANDHI

Total Answers : 1 | View Answers | Post Answers

38104
Apr, 19
2019
DIRECT TAXES - ( 108293 )

A land owned by partnership firm is transferred to retiring partner. Whether Sec.45(4) is attracted

BY: ATUL MUKUNDLAL TOSHNIWAL

Total Answers : 2 | View Answers | Post Answers