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Top 50 Question
Que. Id Date Description
36936
Jan, 18
2019
GST - ( BEFORE POT (SERVICE TAX) TRANSACTION - CLARIFICATION ON CHANGEABILITY OF GST/SERVICE TAX )

I have a scenario where the services were rendered before the introduction of Point of Taxation Rules, 2011 under service tax in which case the service tax was chargeable on receipt/cash basis. What should be the tax treatment for amount received during GST regime against such services rendered prior to POT rules, 2011 Should i pay Service Tax or GST against such receipt? and how should i disclose the same in respective service tax/ gst returns?

BY: Sukesh Kumar Tumma

Total Answers : 0 | View Answers | Post Answers

36935
Jan, 17
2019
GST - ( REGISTRATION WITH GSTN )

X AND Y TWO INDIVIDUAL (BROTHER) IS CARRYING ON PROPRITORSHIP BUSINESS IN INDIVIDUAL CAPCITY AND ARE REGISTERED WITH GSTN. THEY ARE HAVING INDIVIDUAL GSTN REGISTRATION. THE PREMISES FROM WHERE THEY ARE OPERATING THE BUSIENSS WAS PURCHASED BY THEM ALONG WITH THEIR SPOUSE AND ONE MORE BROTHER WITH HIS SPOUSE PURCHASED THE ENTIRE PREMISES. THE PREMISES IS ACTUALLY CO OWNED BY 6 PERSONS, 3 BROTHERS AND THEIR SPOUSES, OUT OF THEM ONLY TWO ARE GSTN REGISTERED. NOW THE PREMISES IS GIVEN ON RENT TO THE SAME BUSINESS FIRM OF X & Y ON RENT BASIS. THE RENT IS APPROX RS 1.00 PA. MY QUERY IS WHETHER RENT WHICH IS APPROX RS 12.00 LAC PA, REQUIRED TO BE GSTN REGD. AND IF YES, HOW AND WHAT CAPACITY THE RENT PART WILL BE GSTN REGD. IT IS CO OWNED BY 6 PERSONS, AND 2 OF THE CO OWNER IS HAVING TURNOVER MORE THAN GSTN LIMIT IN THEIR FIRM. BUT 4 OF THEM ARE HAVING NO GSTN AND NEITHER THEIR PERSONAL INCOME EXCLUDING RENTAL SHARE IS TAXABLE AS PER GSTN

BY: pradeep kumar agrawal

Total Answers : 0 | View Answers | Post Answers

36934
Jan, 16
2019
GST - ( SURRENDER OF GST NO )

A Person had obtained GST no but lateron realised he does not require it. He is having GST paid stock with him. Is it necessary to make stock Zero while applying for Cancellation of GST no

BY: Mahesh Kumar

Total Answers : 0 | View Answers | Post Answers

36933
Jan, 12
2019
GST - ( DIFFERENT LEGAL NAME AND TRADE NAME )

Can a company with legal name as per pan card, apply for another gst registration vertical wise with different trade name. Suppose abc pvt ltd is already having gst no as per pan card and trade name is abc pvt ltd, now the same company intends to do some other kind of work, for which a different trade name is desired, can the company apply vertically for another gst no, having same legal name, but different trade name. if Yes, what kind of documents shall be required to do this

BY: pradeep kumar agrawal

Total Answers : 2 | View Answers | Post Answers

36932
Jan, 11
2019
MISC. - ( 218933 )

Internal auditors are now under pressure from Industry to also provide consulting services on tax matters. They expect the internal audit fee to cover consulting on tax matters as well. Is there any written clarification from ICAI which will help us members in convincing the industry that the two cannot be clubbed together apart from recommendations of ICAI?

BY: SRIKANTH

Total Answers : 0 | View Answers | Post Answers

36931
Jan, 10
2019
Profits & Gains of Business & Profession - ( PRESUMPTIVE TAX U/S 44AE )

Dear sir Under section 44AE for Assessment year 2019-20 it is mentioned that in case of heavy goods vehicle, net income of Rs. 1000/- per ton per month on gross vehicle weight or unladen weight to be offered for Income tax purpose. If a person have a Heavy goods vehicle gross weight of which is 42000 kg. and unladen weight is 12000 kg. Please confirm whether income shall be Rs. 42000/- p.m. or 12000/- per month. Thanks

BY: Rajesh Kumar Mandwariya

Total Answers : 1 | View Answers | Post Answers

36929
Jan, 09
2019
GST - ( SALE TO FOREIGN TOURIST IN GST )

Dear Sir, I have a query with respect of Sale to Foreign Tourist in GST. Section 8 of the IGST Act define what is an Intra State Supply, which is reproduced below 8(1) Subject to the provisions of section 10, supply of goods where the location of the supplier and the place of supply of goods are in the same State or same Union territory shall be treated as intra-State supply: Provided that the following supply of goods shall not be treated as intra-State supply, namely:–– (i) supply of goods to or by a Special Economic Zone developer or a Special Economic Zone unit; (ii) goods imported into the territory of India till they cross the customs frontiers of India; or (iii) supplies made to a tourist referred to in section 15. That as per the above provision, a supply where place of supply and location of supplier is within the same state, however if the receipt is a foreign tourist the same will be treated as inter state supply. For a example Mr John of USA ( Fulfills condition of foreign tourist) visits a showroom in Jaipur and purchased some jewellery and goods are handed over to Mr. John on the Showroom itself. In this case the place of Supply is in Rajasthan and location of Supplier is also in Rajasthan, therefore as per normal rule it is a intra state supply. However since Mr. John is a foreign tourist by virtue of the proviso, it becomes an inter state supply. (Similarly like a sale to SEZ Unit) While Filling GSTR-1, there is exist a problem that when we enter the details in Table 7 i.e Sale to Unregistered Person and select place of Supply as Rajasthan. It opens CGST and SGST only . However the tax charged is IGST due to the facts of the supply being interstate. Then the option left for Filling a the return is with selecting place of supply as other territory to open the IGST column. So kindly guide with this. In case of Supply to SEZ Unit, they have given a column of tick (Supply to SEZ with or without GST). It is required that a same column

BY: MAYANK SRIVASTAVA

Total Answers : 0 | View Answers | Post Answers

36927
Jan, 08
2019
GST - ( GST REFUND )

One of our client received foreign exchange for export done from payee's bank vostro account held with Indian Bank. The said indian bank has issued only credit advice. Upon enquiry they say FIRC is restricted to only FDI. Can we claim GST refund with the Credit advice letter as a proof of convertible foreign exchange received?

BY: SANTHANU R

Total Answers : 1 | View Answers | Post Answers

36928
Jan, 08
2019
DIRECT TAXES - ( 079710 )

The AO has assessed the Income Rs. 4.50 cr. against returned income Rs. 8.00 Lacs whether we have to submit 20% of Disputed tax or any other remedy and what is procedure for stay of such demand

BY: SANDEEP KAPOOR

Total Answers : 3 | View Answers | Post Answers

36922
Jan, 04
2019
Companies Act, 2013 - ( FILING OF ANNUAL RETURNS )

One of my clients have incorporated a company on 13.12.2017, but have not filed annual returns for the financial year 2017-18, can we file the annual returns from 13.12.2017 to 31.03.2019 at a time? If not what is the recourse available for us. Thanks in advance

BY: UDAY KIRAN

Total Answers : 5 | View Answers | Post Answers

36923
Jan, 04
2019
Companies Act, 2013 - ( COMPANY INCORPORATION )

I need to incorporate a company with 20 members and 20 directors, all the members are directors, do all the 20 members need digital signatures? How to get permission from MCA for having 20 directors for a private limited company ? Please let me know the detailed process for it.

BY: UDAY KIRAN

Total Answers : 1 | View Answers | Post Answers

36924
Jan, 04
2019
Companies Act, 2013 - ( COMPANY INCORPORATION )

I need to incorporate a private limited company with 2 directors, out of which 1 director being a NRI and other director is a normal resident, what Is the company incorporation process for this, can i carry on with normal process, or are there any specific approvals need to be taken?

BY: UDAY KIRAN

Total Answers : 1 | View Answers | Post Answers

36925
Jan, 04
2019
Companies Act, 2013 - ( ROTATION OF AUDITOR FOR PVT LTD-NON SMALL COMPANY )

X an individual appointed as auditor of Pvt Ltd (non small) company for 5 consecutive year and completed 5 year term. X also partner in a partnership firm M/s XY. Can M/s XY be appointed as auditor of the same Pvt Ltd company for next 5 years. In the light of provision rotation for firm of CA is for 10 years. Please answer.

BY: Ajay Bhalchandra Salagare

Total Answers : 0 | View Answers | Post Answers

36926
Jan, 04
2019
MISC. - ( REMITTANCE BY A FOREIGNER )

An Indian Person says some foreigner is depositing foreign currency in his account .What will be the consequencies if there is no business transaction

BY: Mahesh Kumar

Total Answers : 1 | View Answers | Post Answers

36920
Jan, 03
2019
GST - ( RCM ON SECURITY SERVICES )

From 1.1.19 Security Services have been brought under RCM u/s 9(3). Queries as below: 1. Is it mandatory RCM (i.e. security agencies cannot opt for Forward charge even if they are registered)? -- Appears to be mandatory RCM 2. What would be the position of Invoice raised on 1.1.19 for security services supplied in Dec 18. If Section 14 rationale is used, since Invoice and Payment both come after 1.1.19, Invoice will be subject to RCM GST and not forward charge GST

BY: Gaurav S Kenkre

Total Answers : 2 | View Answers | Post Answers

36921
Jan, 03
2019
GST - ( GST ON REAL ESTATE SECTOR )

Dear Sir, As per my understanding if agreement executed between customer and builder. Whenever builder will complete construction up to certain stage (as mentioned in construction linked payment plan ) he have to raise demand/bill and pay GST on the basis of such billing/demand. In current scenario where real estate sector facing very serious slow down only 30 to 40% demand recovered on time and balance 60% to 70% remain outstanding and builder have to pay GST of such unpaid demand. I want to explain it in example:- Total flat 100 no. Amount of Demand Rs. 2,00,000/- each Amount of GST @ 12% Rs. 24000/- each now suppose 30% demand recovered Amount received Rs. 240000*30 = 6720000/- Amount to be paid for gst 24000*100 = 2400000/- Net Pay Out 43,20,000/- We can seen here that gst recovered only against 30 flat but pay to govt for full 100 flats. My Query is :- 1) Is my understanding (As mentioned above )is correct ? 2) Is there any way out to not gst only on receipt basis ? Please guide Thanks & Regards, CA Vikas Gupta 09983299484

BY: vikas Gupta

Total Answers : 1 | View Answers | Post Answers

36919
Jan, 02
2019
GST - ( RCM ON SECURITY GUARD (GST) NOTIFICATION ON 29/2018 – CENTRAL TAX )

AS RCM ON SECURITY SERVICES HAS BEEN INTRODUCED , ANY REGISTERED PERSON RECEIVING SECURITY SERVICES FROM ANY PERSON OTHER THAN BODY CORPORATE, IS REQUIRED TO PAY GST ON REVERSE CHARGE BASIS IT IS UNDERSTOOD THAT A REGISTERED PERSON, BUT MY QUERY IS WHERE THE PERSON RECEIVING SECURITY SERVICES FROM ANY PERSON OTHER THAN CORPORATE, IS ENGAGED IN PROVIDING GST EXEMPT SERVICES VIZ ; HEALTH CARE – DIAGNOSTIC SERVICES ,, SHOULD THIS PERSON NEEDS TO OBTAIN GST NO TO PAY RCM ON SECURITY SERVICES

BY: pradeep kumar agrawal

Total Answers : 2 | View Answers | Post Answers

36918
Jan, 01
2019
MISC. - ( TIME LIMIT FOR THE ISSUANCE OF NOTICE U/S 148 )

what is the time limit for the issuance of notice u/s 148 by Assessing Officer.?

BY: Mohit Gupta

Total Answers : 6 | View Answers | Post Answers

36915
Dec, 31
2018
Capital Gains - ( GAINS FROM OPTION TRADING )

Whether gains from Trading in options can be offered under capital gain? As per sec.2(14) capital assets means "Property of any kind held by an assessee". I feel option fits within this definition. Members views are solicited.

BY: SANTHANU R

Total Answers : 3 | View Answers | Post Answers

36916
Dec, 31
2018
Income from Other Sources - ( SEC 56(2)(VII) GIFT OF RURAL AGRICULTURE LAND )

A sold his rural agricultural land to B for Rs 45 lacs the circle rate of the land is 65 lacs A & B are not "relative" to each other the question is whether Difference of Rs 20 Lacs ( Circle Rate - Actual Consideration) will be taxed in the hand of B ? or the transaction will be out of purview of 56(2)(VII) as land in question is not a capital assets U/S 2(14) ?

BY: CA. SHARMA RAJESH CHANDRA

Total Answers : 1 | View Answers | Post Answers

36917
Dec, 31
2018
GST - ( 426683 )

I am trying to file RFD 01 online for claiming of Excess ITC in case of export without payment of tax .While filing of the Statement 3 using the online utility i am facing the problem in filing the data in the excel utility downloaded from the portal itself. The error in the excel file of utility for statement 3 says ' the file is locked for editing please unlock it and it requires password which is not available with us. Someone please advise me what can be done. Thanks

BY: ajit kumar maskara

Total Answers : 0 | View Answers | Post Answers

36914
Dec, 30
2018
GST - ( GSTR-9C )

As per GST Act every Assessee whose Annual turnover is more than Rs.2 Crore shall gst his Account Audited. In the form GSTR-9C as notified under notification no.49/2018-Central Tax, Reconciliation of turnover under point no. 5 is derived on the basis of Audited Annual Financial Statement. Let take an example of Kacchha Arhtia or del-credre Agent who is issuing invoice on behalf of Principle Supplier. As per GST act his turnover is total receipt on sale which is let suppose Rs.6 Crore (more than Rs. 2Crore ) in a financial year. but under IT Act,1961 his turnover is the amount of commission only that is let suppose Rs.10 Lakh. That's why no audit is conducted under income tax Act & any other Act. Now in this case what turnover shuld be mentioned under Point no.5A to reconcile? In point number 4 he mentioned that he is not liable to audit under any act. Please enlighten us what should we do in this case.

BY: Tushar Goyal

Total Answers : 3 | View Answers | Post Answers

36910
Dec, 29
2018
Companies Act, 2013 - ( NAME RESERVATION IN CRC )

I have applied for a Name reservation of a existing Nidhi Company. CRC has rejected the same with remarks "NOC from concerned regulatory authority has to be obtained". But in the Companies Act 2013, nowhere it has been mentioned that NOC for Name reservation has to obtained. I have raised the ticket asking CRC to quote relevant provisions in the Act. But their reply is not appropriate. How to escalate the issue or solve this issue?

BY: SANTHANU R

Total Answers : 4 | View Answers | Post Answers

36911
Dec, 29
2018
GST - ( REVERSE CHANGE ON TRANSPORT FOR F Y 17-18 )

REVERSE CHARGE ON TRANSPORT FOR F Y 17-18, IF PAID IN 18-19 NOW SAY ON 28 DEC 2018, CAN WE TAKE INPUT CREDIT OF THE SAME IN GST 3 B OF DEC 18

BY: pradeep kumar agrawal

Total Answers : 2 | View Answers | Post Answers

36912
Dec, 29
2018
GST - ( 240554 )

Incase of cable tv and internet operation, whether the GST is levied by ISP directly to Customer or it should be pass thru MSO and LCO?

BY: Sai Ram

Total Answers : 0 | View Answers | Post Answers

36913
Dec, 29
2018
GST - ( 240554 )

A GST registered dealer, Proprietor, engaged in imparting technical training. He, in his personal capacity entered into a agreement to purchase a under construction flat and paid GST (since purchased in personal capacity, input is not shown in 3B or availed). Still the property is under construction and he likes to sell the right in property for a profit of 21L. whether the sale transaction attracts GST?

BY: Sai Ram

Total Answers : 3 | View Answers | Post Answers

36905
Dec, 28
2018
GST - ( SURRENDER OF GSTIN )

I HAVE APPLIED FOR SURRENDER OF GSTIN TO WHICH QUERY HAS BEEN RAISED WHICH HAS BEEN ANSWERED SATISFACTORILY. HOWEVER, SAME HAS NOT BEEN TAKEN UP FOR REVIEW BY OFFICER. WHAT IF SAME IS NOT REVIEWED WITHIN DUE TIME BY OFFICER. WHETHER CANCELLATION CERTIFICATE WILL BE GENERATED AUTOMATICALLY OR MY APPLICATION WILL BE CANCELLED. KINDLY REVERT

BY: RAJIV CHINUBHAI MEHTA

Total Answers : 0 | View Answers | Post Answers

36906
Dec, 28
2018
GST - ( GST CLASSIFICATION )

Proprietor firm running transport of goods business owns his own trucks. whether we can say that transport of goods by road is exempt under GST as per notification 12/2017 if he is not issuing any consignment note to anybody. since reverse charge is applicable only to GTA. please guide me whether proprietor running transport business by engaging driver on salary is GTA or not.

BY: NADIR D SHAIKH

Total Answers : 1 | View Answers | Post Answers

36907
Dec, 28
2018
GST - ( EXCHANGE OF CAR )

A GST registered person exchanges his old car for new car. The car Company credits him with 1)value of old car 2) Exchange Bonus and 3) Loyalty bonus. Item No. 1 is subject to GST as per notification No.8/2018 dated 25th January 2018. Are loyalty Bonus and exchange bonus are also subject to GST.

BY: Ethirajan

Total Answers : 1 | View Answers | Post Answers

36908
Dec, 28
2018
GST - ( SALE OF OLD ASSET OR ASSET UNDER SECTIOJN 17(5) )

In case an Assessee sold his old asset, purchased under VAT regime for which no ITC has been claimed by the Assessee or Asset purchased under GST regime for which no ITC has been claimed as input is blocked input under sec 17(5) e.g. car. Whether GST is applicable on sale of these asset? if there is some way to avoid GST on these type of transaction then please enlighten me.

BY: Tushar Goyal

Total Answers : 0 | View Answers | Post Answers

36909
Dec, 28
2018
GST - ( INPUT TAX CREDIT REVERSAL )

Supplier is engaged in providing works contact service to government which attract 12% GST rate. Works contact service provider uses machinery in execution of contract for which Machine supplier is paid on hourly basis. however diesel is purchased and given to Machine supplier by the works contractors and the same is recovered from bills payable to machine supplier. Query No.01. Is common input tax credits needs to be reversed in books of works contract service provider as there is exempt supply or can it be interpreted that on purchase of diesel no input tax is availed hence no requirement of reversal. Query No.02. Is bill of supply needs to be raised for such exempt supply, however contractor is not engaged business of diesel supplier.

BY: Sachin

Total Answers : 0 | View Answers | Post Answers

36904
Dec, 27
2018
GST - ( TDS UNDER GST )

One of our Government client has deducted TDS under GST in the month of Oct, 2018 and this amount is also reflecting in GSTR 2A of that month. This amount should have been credited to our cash ledger but till date this has not happened. As a result we are not able to take credit of TDS deducted by our client. How can we claim credit of TDS amount in our return? Also TDS certificates are also not available on the GST portal in respect of such deductions, do we need to take some action on our part so that these certificates become available to us?

BY: CA. JAIN GOPAL KRISHAN

Total Answers : 2 | View Answers | Post Answers

36903
Dec, 26
2018
GST - ( CONVERSION OF PROPRIETARY INTO PARTNERSHIP )

I would like to convert a proprietary business into partnershp by drafting a p.deed and planning to avail input credit on stocks as provided u/s18(3)of CGST Act. In this regard, my queries are; 1. Whether the erstwhile proprietor has to raise a tax invoice on the Partnership Firm in view of para 1 of Sch. 1 of the act? But the newly formed partnership firm would continue the same books of account whcih is being operated by the proprietor. How accounting has to be done. 2.On the other hand, Stock being a business asset, it is not at all a supply in view of para 4(c) of Sch II of CGST act.

BY: CA. KANTIPUDI VEERA VENKATA SATYANARAYANA

Total Answers : 3 | View Answers | Post Answers

36902
Dec, 23
2018
Profits & Gains of Business & Profession - ( TAXABILITY OF INCOME FROM YOUTUBE )

A resident is getting money from YouTube for uploading videos related to art & culture. How this income will be taxed? Can it be treated u/s 4AD or 44ADA?

BY: PALLAV

Total Answers : 4 | View Answers | Post Answers

36900
Dec, 21
2018
GST - ( IMPACT OF GST )

What will be the short-term impact of GST?

BY: Mohit Gupta

Total Answers : 1 | View Answers | Post Answers

36901
Dec, 21
2018
DIRECT TAXES - ( TAXATION OF TRUST )

A trust has accumulated its income for a period of 5 years by filing Form 10. But it has not spent the amount so accumulated within that 5 years. In which year it will be taxed? In the 5th year itself or in the 6th Year. Suppose, if it is for financial year 2012-13, the time limit will expire with 31.3.2018. Whether the unspent amount will be taxed in AY 2018-19 itself or in AY 2019-20? Please clarify. Thanks.

BY: balasubramanian

Total Answers : 2 | View Answers | Post Answers

36898
Dec, 20
2018
DIRECT TAXES - ( ITR FOR 3 YEARS )

can ITR of a person be filled for 3 years at a time if Taxable income from First two years is Nil without attracting Penality

BY: Mahesh Kumar

Total Answers : 4 | View Answers | Post Answers

36899
Dec, 20
2018
CORPORATE & OTHER LAWS - ( LOAN FROM NRI DIRECTOR )

A Company is receiving loan from its Director who is a NRI. Loan is received from him in Indian Rupee from a bank account in India maintained by that Director. What are the RBI Regulation with regard to such transaction? Kindly clarify.

BY: balasubramanian

Total Answers : 1 | View Answers | Post Answers

36896
Dec, 19
2018
GST - ( EXPORT OF SERVICE TO OTHER STATES )

Whether a CA having turnover less than 20 Lacs provide interstate services without having GST number

BY: Mahesh Kumar

Total Answers : 8 | View Answers | Post Answers

36897
Dec, 19
2018
DIRECT TAXES - ( FORM 61A )

On of foreign company has invested in Indian private Limited company as FDI. We have filed form 61A . The foreign company does not have PAN No in India. There is error report coming saying PAN no required but foreign company does not have PAN card. Please advise to rectify it or can we dummy PAn and what is the pattern we should used.

BY: Shiv Mahajan

Total Answers : 1 | View Answers | Post Answers

36895
Dec, 18
2018
GST - ( RCM )

Mr A ( Registered GTA under GST) is providing Goods Transport to XYZ LTD. GST paid by XYZ ltd under RCM. Further Mr B ( Registered GTA under GST) is also providing Goods Transport to XYZ LTD. GST paid by XYZ ltd under RCM. Mr A hires services of Mr B for transportation of goods to XYZ Ltd. 1. Is it exempt as XYZ is paying under RCM. 2. If so, has Mr A to show it an inward exempt supplies in is returns.

BY: Avinash Chirania

Total Answers : 1 | View Answers | Post Answers

36892
Dec, 17
2018
GST - ( TAXABILITY OF RENTING OF VACCANT LANT )

As per chapter 4 and heading 9986 renting of agro machinery or vaccant land with or without structure incidental to its use attracts nil rate of tax.whether renting of vaccant land of about 1 acre for vehicle parking will come under that

BY: nagappan.sm

Total Answers : 2 | View Answers | Post Answers

36893
Dec, 17
2018
GST - ( TREATMENT OF COMMON CREDIT IN CASE ITC )

What is the provision regarding Reversal of Common credit of ITC under Rule 42 & 43 in case a supplier supplies both Taxable Supply and Exempted Supply ? Whether reversal to be done monthwise or annually because use of raw materials in on going process but ITC is claimed in the month goods are received ?

BY: Gaurav Kumar Baranwal

Total Answers : 1 | View Answers | Post Answers

36894
Dec, 17
2018
GST - ( GST COMPOSITION SCHEME )

X A RETAIL TRADERS HAVING GST COMPOSITIN NO, DEALS IN TAXABLE GOODS AS WELL AS FOOD GRAIN COMMODITY. RICE , PULSES, EDIBLE OIL ETC. MY QUERY IS WHETHER GST IN COMPOSITION SCHEME IS CHARGEABLE ON ENTIRE SALE OR ONLY ON TAXABLE COMMODITY BARRING FOOD GRAIN ITEMS.

BY: pradeep kumar agrawal

Total Answers : 1 | View Answers | Post Answers

36891
Dec, 15
2018
GST - ( GST ON TUTION SERVICE )

A proprietorship CA concern has got registered under GST If the Prop is taking tutions whether he will have to pay GST on tution income also

BY: Mahesh Kumar

Total Answers : 3 | View Answers | Post Answers

36888
Dec, 12
2018
DIRECT TAXES - ( TAX AUDIT )

A client is having following incomes in FY 2017-18 :- Salary - 440000 Interest - 90000 F&O Business - (250000) loss Whether he is liable for Tax Audit u.s 44AD? Which ITR form is applicable for AY 2018-19? Read more at: https://www.caclubindia.com/forum/tax-audit-applicability-u-s-44ad-and-itr-form-applicability-488437.asp

BY: Akshika Dhingra

Total Answers : 2 | View Answers | Post Answers

36889
Dec, 12
2018
GST - ( GST ON EXPORT TO NEPAL )

My client want to export some goods to Nepal ,whether this will come under zero rated supply or igst will charge .

BY: Ajay Pandey

Total Answers : 4 | View Answers | Post Answers

36890
Dec, 12
2018
GST - ( PLACE OF SUPPLY )

Supplier is engaged in supply of works contract services to government like construction of road, dam & canal etc. Supplier has GST registration in Andhra Pradesh as administrative office and has registration in Maharashtra where branch is situated. it has purchased plant & machinery from Dehli which is installed in Maharashtra. dehli supplier quoted GSTIN of Andhra Pradesh on invoice and shipping address to Maharashtra (with GSTIN number). Is the place of supply is Maharashtra where plant & machinery is installed or Andra Pradesh as in case of bill to and ship to transactions.

BY: Sachin

Total Answers : 2 | View Answers | Post Answers

36887
Dec, 11
2018
GST - ( GST ON SALE OF PLOTTED AND DEVELOPED LAND )

Taxpayer has purchased land. He will do plotting of the same (sub-plots , internal roads , lighting, garden etc). Then he will sell the plots to buyers who can then construct units on their plots. Ques: 1. Is it taxable in GST if plots are sold before completion? 2. If yes, what value is to be adopted? 1/3 abatement is unfair since majority cost if land 3. Can 2 agreements be made: 1 for sale of land (no GST), 1 for development (with applicable GST)? (transaction value can hold since no related party customers)

BY: Gaurav S Kenkre

Total Answers : 3 | View Answers | Post Answers

36886
Dec, 10
2018
GST - ( REVERSE CHARGE MECHANISM )

If Business entity is unregistered ( since turnover is less than Rs 20 lakhs and availing services of advocates, then will it be liable to take registration and pay tax for this single transaction  ? 

BY: samirkumar gokulbhai kasvala

Total Answers : 1 | View Answers | Post Answers