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Anuraag Agrawal
19 March 2024 at 12:57

GSTR-9 Maximum Late Fee?

I want to know what is maximum late fee is for FY2020-21 and 2021-22? Suppose i have turnover around 3cr in both year then what is maximum amount i need to pay. If possible please share circular number so that i can show it to my ca.

Is it 3cr * 0.5% in both year?

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Venkateshwarlu Pulluri

Sir/s,
please let me clarify, that applicability of TDS in case of purchase of agriculture land cost exceeds 50 lakhs

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suresh kumar soma

Sir,

Profession Tax on Rental income on non-residential is applicable as per the PT Act Serial Number 38. Hence, can we know the date of effect this.

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Shweta
19 March 2024 at 10:12

Charges levied by HDFC Securities ?

1. Is HDFC Securities Mutual Fund Distributor?
2. Is HDFC Securities stock broking firm?
3. Does HDFC Securities (https://www.hdfcsec.com/) allows investors to invest in both direct plans and regular plans in Mutual funds?
4. What are the charges levied by HDFC Securities for transactions in Mutual funds and stock trading, like commission, brokerage fees, platform fees etc?

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Priya R
19 March 2024 at 09:22

ReG: Wip and Fg Valuation

Dear Sir,

We are in Granite Manufacturing Company. As Finalisation Process we are valubing F.G. as 90% of sale value and Wip as 65% of sales Valu ..! Our F.g. is the goods ready for sale just waiting for approval. And our Wip always remains in 2 out of 7 process. Apart from above we normally sold Good in Fg in first. We are producing in terms of containers as 50 means we sold 10 to 20 of last month F.g and 15 containers from curent production ...! Kindly let me know if our valyation towards Wip and Fg is correct and if not How to Valye in this scenarios

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sumeet kumar
18 March 2024 at 23:27

ITR U Error while uploading

It shows the error, "In part B TI, Sl.No. 19 - deemed income u/s 115JC is not equal to Sl. no.3 of schedule AMT". But my all figures are matching with the respective schedule. How to solve this error.

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Bazeer Ahmed

Sir / Madam,
We have recently received a demand letter from Central GST department based on the performance Audit conducted by GST Audit Wing stating that we have raised duplicate eway bills for the same invoices. For that we have to pay the tax liability amount along with 15 % penalty and interest from the period when the invoices were raised.

Scrutinizing the eway bills we found that we have prepared the eway bills and sent to the buyer location at Maharastra. A particular buyer after receiving our goods they made another eway bill to move the goods from godown to a factory in local about 15 km with the same invoice number which was raised and sent by us. In those eway bills clearly registered their GSTIN in the “entered by” column. The transaction period was FY 2018-19.

Again one of the bill we have prepared eway bill double time for the same invoice number same transport vehicle number within 10 min time difference. We don’t know how the system accepted the duplicate document number at that time. As it was initial period like trail and error period this mistake would happen. The transaction was taken place in April2018. Moreover we have faced a lot of problems like internet connectivity and server problem most of the time rejected and struck.

Hence we have decided to sent the reply along with the parties account statement for the respective years for proving that the transactions were not duplicate.

Kindly clarify whether the reply to the department as above will satisfy the authority or not.

Any suggestions / points to be added with this reply.

Thanks in advance,
With regards,
Bazeer L

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Srinivasa Joshi
18 March 2024 at 10:17

E Invoice regarding

Dear Sir
We have received intimation for E invoice, in the intimation stating that 2017-18 shall issue e invoice tax payer with
aggregate turnover of Rs. 5 crores wef 01.8.23 on all B2B transaction. for the year 2023-24 whose turnover is exceeding 05 crores have to issue e invoice. so we little bit confusion but our turn over is not exceeding 05 crores hence please clarify the same.
Yours faithfully
Thanking you
Srinivasa Joshi

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Shalini RN
18 March 2024 at 10:03

ISSUE OF E-INVOICE

We are registered GTA. We are also providing vehicles on hire to other Goods Transport Agency and our proprietor has rented out commercial place also. My query is whether we are required to issue e-invoice. If not under which notification we are exempted? Please Clarify.

Thanks & Regards,

Shalini R N

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RAJA P M online
18 March 2024 at 09:55

ITC ON PURCHASE OF CAPITAL GOODS

Respected Experts,
I have a confusion about ITC on CAPITAL GOODS. One of my client (newly registered under GST) purchased of New CNC machine. They make only taxable supplies & Services (like Job work) with chargeable 12% GST.
I will take that full ITC in the same month. But, Having confusion with this

In this scenario can we claim fully ITC of that purchased capital goods...?
or Here we calculate and take ITC proportionately...?

Please clarify my confusion with suitable details.

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