• Registered Users :
  • 157102
  • Current Active Users :
  • 98903

Forum

DID YOU KNOW ?

You can add further comments to your query by clicking on "Add Comment".
This link will appear only, if you are logged-in with your user id and password. The same will appear as
"Querist Comment" on the Forum.

Click here to Post your Query >>
Top 50 Question
Que. Id Date Description
38161
May, 24
2019
GST - ( GST ON SERVICE PROVIDED BY ONLINE HEALTH PLATFORM OR E HEALTH SERVICES PROVIDED BY INTERMEDIAR )

A Intermediary registered in the form of company providing a online platform by the way of providing the application and communication device that enables a potential patient to connect with the suitable doctor or in other words we can say that provides a online health platform through which patient get connected with the doctor . The company ( Intermediary) is raising the invoice on behalf of the doctor to the patient and it did not charge any GST on bill with the clear instruction on bill that “ this bills is issued by the health care service provider not the by the intermediary , and since the GST on health care service provider is exempt under GST therefore no GST is collected and remitted by the intermediary company as the said service is exempt under GST .” That means here intermediary company only providing the online plat form through mobile application and remit the entire amount received from the patient to the doctor and then receive some consideration from the doctor for providing such services . Now the issue is whether the said service provided by intermediary company to the doctor is health care service or not i.e is its is not a health care service then the service provided by intermediary company will be classified under which head and what the gst implication on the said transaction . Please give clarification about the same

BY: DEEPTI DHAKAD

Total Answers : 0 | View Answers | Post Answers

38162
May, 24
2019
DIRECT TAXES - ( VALIDITY OF NOTICE ISSUED U/S 263 OF IT ACT. )

Dear Friends, please clarify on the following:- An assessee filed his return of income claiming exemption U/s 54F of IT Act on sale of his vacant land by investing in a residential property. The assessment was processed U/s 143(1) of the IT Act. Subsequently he was issued notice U/s 147 based on AIR information. The assessment was completed U/s 143(3) accepting the Return filed and also the exemption U/s 54F. Now, based on Audit Objection PCIT has issued notice U/s 263, setting aside the Assessment and directed the AO for re-assessment to deny exemption U/s 54F stating that the assessee has owned more than on residential house The AO has started the reassessment proceedings Please advise whether the reassessment proceeding is valid in view of reopening notice issued U/s 147 and assessment completed accepting the return. Whether any case laws are available in this regard. Whether we can object the assessment itself or appeal before CIT (A).

BY: RAMAN

Total Answers : 1 | View Answers | Post Answers

38160
May, 23
2019
GST - ( NON EFFECT OF AMENDMENT IN GSTR1 )

Assessee had opted for quarterly filing of GSTR1 in fy 2018-19. Erroneous excess B2C sales of Dec'18 was effected in Mar2019 GSTR1 by modifying the figures of Dec.18, but the effect of the same was not reflected in return. Owing to the same SMS for demand in differential liability was raised. How to resolve the issue?

BY: SURAJ KUMAR CHOUDHURY

Total Answers : 2 | View Answers | Post Answers

38159
May, 22
2019
GST - ( AMMENDMENT OF DIFFERENCE )

How to amend the difference of Rs.393000 arising from submission of GSTR3B & GSTR1 for the FY:2018-2019

BY: CA Goutam Kar

Total Answers : 2 | View Answers | Post Answers

38157
May, 21
2019
DIRECT TAXES - ( HOW DOES CLUBBING ENDS? )

If a husband has given a gift of Rs. 10 Lakhs to his wife for business, income from such business will be clubbed in the husband's hands. Now if he wants to end this clubbing, how can the same be done?

BY: Badlani

Total Answers : 3 | View Answers | Post Answers

38158
May, 21
2019
TDS/TCS - ( TDS RETURN FOR Q4 --- ACKNOWLEDGEMENT OF PREVIOUS RETURN I.E. Q3 NOT AVAILABLE )

For Filing TDS return for Q4 , Token number of previous return i.e. Q3 is required and it is not available with the clients . So how to file Q4 return ?  Thank you

BY: samirkumar gokulbhai kasvala

Total Answers : 2 | View Answers | Post Answers

38152
May, 20
2019
OTHER BODIES - ( ETHICS - ICAI )

CAN A COP HOLDER CHARTERED ACCOUNTANT CAN DO INTRADAY (SHARE TRADING) TRANSACTIONS?

BY: JENIL PRANAYKUMAR SHAH

Total Answers : 3 | View Answers | Post Answers

38153
May, 20
2019
GST - ( WHETHER IT IS JOB WORK ? )

if job worker is doing job work by carrying out his machinery and though his workers but in the premises of Principal it self , then whether this amounts to job work ?? , and if yes then how ITC - 04 can be filed ? because we do not have delivery challan - transportation - truck number , as goods are not moved from principal's factory.(Need less to mention that definition of job work u/s 2(68) dose not contain clarification that whether movement of goods are required or not )

BY: parth

Total Answers : 2 | View Answers | Post Answers

38154
May, 20
2019
DIRECT TAXES - ( TDS CHALLAN ADJUSTMENT )

We have deposited TDS mentioning Ass Year 2019-20 Can We use this challan for ass Year 2020-21 also

BY: Mahesh Kumar

Total Answers : 4 | View Answers | Post Answers

38155
May, 20
2019
GST - ( INPUT CREDIT )

While filing July 17 GSTR 3B An Asessee had put Purchase figure around 6 Lac in IGST Input . On finding his mistale he inflated Output Liability for aug 17 by same figure. now Input Credit is being shown in GSTR 9 figures at inflated figure of 6 Lac. How to rectify the mistake as this figure is not editable

BY: Mahesh Kumar

Total Answers : 4 | View Answers | Post Answers

38156
May, 20
2019
TDS/TCS - ( 108293 )

A medical practioner's society is arranging conference in a five star hotel. It is collecting Rs.10000 per participants for conference. Further it is arranging accommodation facility for participants at various hotels in a city and collecting amount as per standard of hotel. My query is whether TDS is applicable for payment to five star hotel for conference and payment to various hotels for accommodation. If yes at what rate

BY: ATUL MUKUNDLAL TOSHNIWAL

Total Answers : 1 | View Answers | Post Answers

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 : 6 | 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 : 3 | 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 : 4 | 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 : 2 | 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 : 4 | 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 : 3 | 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 : 2 | 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