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Top 50 Question
Que. Id Date Description
36941
Jan, 22
2019
GST - ( GST AUDIT OF BRANCH OF A PRIVATE LIMITED COMPANY )

As per provision of section 35 (5) of CGST Act, every registered person whose turnover exceeds prescribed limit has to get his accounts audited by CA or CWA. I have following questions: 1) if accounts of the company as a whole is already audited and submitted to company registrar say on 11.09.2018, last date of filing audited accounts and annual return on gst portal is 31.03.2019, GST auditor of branch of the company and company auditor are different persons/firms and appointment of gst auditor is after 11.09.2018, then is it necessary for auditing branch accounts again by branch GST auditor or it is sufficient to prepare GSTR 9C with certificate by branch gst auditor? 2) If company audited accounts are sufficient compliance of section 35(5), then what is the meaning of " submitting audited accounts with gst annual return" in case of branch gst annaul return filing as it is distinct person, i.e. separate accounts is to be prepared for branch and get it attested by company auditor or uploading company audited accounts? 3) As per companies act, 2013, only CA can do audit then conducting audit by CWA is against companies act?

BY: PRIYANK NAGORI

Total Answers : 0 | View Answers | Post Answers

36942
Jan, 22
2019
DIRECT TAXES - ( COMPENSATION RECEIVED BY PVT LTD. COMPNAY ON COMPULSORY ACQUISITION OF ITS OFFICE INDUSTRIAL LAND BY )

Industrial land owned by Pvt Ltd company has been compulsorily acquired by NHAI. Pvt. Ltd. company can claim exemption of this amount by vide circular no.36/2016 of CBDT dated 25/10/2016 ?

BY: BAJAJ RADHESHYAM NANDKISHORE

Total Answers : 0 | View Answers | Post Answers

36943
Jan, 22
2019
DIRECT TAXES - ( APEAL )

case is relating to Computation of capital gain, Assessee has claimed Cost of acqusition of asset on the basis of Engineers certificate but the Assessing officer is refuse to accept the same and case has been transfered to Department Valuation officer for valuation, for the same Ao has completed the Assessment and raise the demand, whether we go to Appeal in this regard???

BY: Ninad Prataprao Shete

Total Answers : 0 | View Answers | Post Answers

36944
Jan, 22
2019
GST - ( REGISTRATION )

Service provider is suppose to take a GST registration as his turnover crossed 20L in Previous year (2016). What are the consequences if GST registration is taken now in 2019? He didn't have Service tax registration too

BY: Sai Ram

Total Answers : 0 | View Answers | Post Answers

36940
Jan, 21
2019
GST - ( TDS UNDER GST )

Please clarify, whether a Government department which is already registered under GST and receiving Goods and Services from various parties is required to obtain separate GST number for deducting TDS under GST for Work contract supplies received by it from various supplier? Whether suppliers will require to mention the regular GST number of the Govt. department (Receiver) in their invoices or GST Number as deductor will be mentioned by them in their invoices?

BY: DINESH

Total Answers : 2 | View Answers | Post Answers

36938
Jan, 20
2019
GST - ( BLOCKING OF ITC WRONGLY AVAILED IN EARLIER TAX PERIOD )

GSTR-3B for the Month of June 2018 is filled with Wrong ITC which is more then the Actual eligible ITC. Now while filling GSTR-3B for the month of December 2018, can we show it under blocked credit ?. Such Excess Input tax credit has not be utilised so far. Should we pay any Interest?

BY: Harish

Total Answers : 1 | View Answers | Post Answers

36939
Jan, 20
2019
GST - ( PRIORITY SECTOR LENDING CERTIFICATES )

PSLC ARE TRADED ON RBI E KUBER PLATFORM WHERE IDENTITY OF BUYER AND SELLER NOT KNOWN TO EACH PARTY, HOW THESE TRANSACTIONS CAN BE CLASSIFIED AS INTER STATE OR INTRA STATE FOR PAYMENT UNDER RCM

BY: NEERAJ KUMAR GAKHAR

Total Answers : 0 | View Answers | Post Answers

36937
Jan, 19
2019
Service Tax - ( SCN U/S 73 FOR ST-3 NOT FILED AND NO REPLY FOR NOTICES )

Facts: Assessee is a Pvt. Ltd Co. , Total period of Demand is Oct 2015 to Jun 2017. ST-3 if filed for Oct 2015 to Sept 2016. Tax along with Interest for entire period is paid from Time to time . (For the period ST-3 not filed, tax was paid in April 2018). Total Demand u/s 73 is 20 Lakhs + Intt + Penalty u/s 76 & 77. Notices issued 4 times but the assesse did not reply. Now officer has asked to reply in 30 days otherwise he will decide ex-parte. Also, the SCN issued by the Officer does not has any jurisdiction. Query : 1. Can we file ST-3 now after SCN is issued ? 2. Can we ask our jurisdiction officer to issue a fresh SCN since the one issued is invalid ? 3. Can the penalty for non filing of ST-3 be waived by any way ? 4. Tax is paid under incorrect heads i.e. under Interest head in place of Main Service Tax Head, will it be an issue ?

BY: Ashish Kumar Goyal

Total Answers : 0 | View Answers | Post Answers

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 : 1 | 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 : 1 | 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

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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 : 2 | 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 : 1 | 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 : 1 | 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 : 1 | 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