sir.
How to treat Income tax of firm, and sole property ship. whether it is an expenses or partners withdrawal . Last year income tax 2.5 lakhs paid during 22-23 year. but income tax is calculated u/s44AD 6%. Please advise

Hello Sir,

Previous our company situated at SEZ.

after that we moved to new place, and came out from SEZ and opened new GSTiN number for the same.

Its been 1 year to this.

But still some of our vendor raising the invoice on our SEZ address without charging GST on the same.

We are informing vendors to revise the invoice.

But what happen if we receive invoice on our previous address without paying GST ?

Respected Sir,

Kindly advise. Can we investment through app in mutual fund. All app is safe or no ( zerodha, angle one, pagthem, grow, upstox etc are safe our Capital is safe if we invest via app) in case what to do if app is closed third party broker is also not available during redemption time.

Kindly advise

fuel expense bill submitted by company director but pay later what is the journal entry and ledger create under which head : fuel exp. (indirect exp.) other ledger

how to make journal entry of split of shares in the case of individual and what take cost .
can I make entry
Purchase of shares Dr. .01
To Capital a/c .01
Paise 1 take to book journal entry.

Dear Sir,

One supplier is Registered Under Composition Scheme as per GST portal but they give Tax Invoice to us with GST.

1. we pass entry with GST & Release Payment either book only Basic & release payment ?

Sir,

Supplier pass the entry in his books dt.31.10.2022 (Goods damage) and Clear the balance no document send to us and no show his GSTR-1 but as per our books Supplier balance cr. Rs. 7400/- as on 31.03.2023. so clear the Balance we need to pass the entry in our books also.
Query.
1. Can we need to reverse the ITC or reduces the Purchase Rs.7400/- If we need to reverse the ITC we unable to issue debit note entry in oct.22 because we already issue debit note to other supplier so debit note number change. so can we issue the debit note in March 2023 and adjusted the ITC reversal amount in May 2023,s return because i already filed the GSTR-3B march and april month.
Please advise Sir,

Hi,

I have received invoice from vendor in Mar-23 amounting to 53,100/-
Taxable : 45,000/-
IGST : 8,100/-
Total : 53,100/-

We have deducted the TDS @10% amounting to 4,500/-, and now TDS return also has been filed.
But we haven't initiated remaining payment after deduction of TDS.

For some issues in service we want to raise debit note for entire invoice, so what will be the effect of TDS in Debit note.

Should we revised the TDS return or collect TDS amount from vendor ?

Respected Sir,

If a person installed 2000 Liter RO Water plant at home and supply of ro water to village person so that supply attract to GST (GST applicable 18% or its exempted in GST) customers bring empty can,Drum,from home come to place of Ro Plant open the tap collect the water and come back to home. It's note a packing, sealed, water So GST applicable or note please suggest.

Dear Sir,

in the month of October 2022 Some goods break on the way. We have hold some payment and rest balance Clear to Supplier. supplier never demand to us send back break goods to me. we request to supplier send you account statement to match account balance. as per books of account of supplier our balance is NIL but as per our books of account supplier is balance Rs.10240 Cr. in October 2022 Supplier Cr.Rs.10240/- in his books of account mention narration adjustment of break Goods No document send to us. No show in his GSTR-1 .Can we issue debit note in March month Turnover is Rs.2 Crore book cover under audit 44AB.We not able to issue debit note to supplier in backdate ( Oct.22 ) 2023. so if we issue debit note in march 23 auditor will raise the issue because We already filed GSTR-3B march and ITC reversal not adjusted in march month .
What to do in case guide to me. 1st Case
(1) entry in 31 March 2023
Dr. XYZ Supplier Rs. 10240/-
Cr. IGST input Rs.1562/-
CR.Purchase account Rs.8678/-

Dr. IGST Input Rs.1562/-
Cr. ITC to be reversed Rs.1562 ( Current Liability ) Its not adjusted in march.

in May month reversed the ITC in while filling In 3B

2nd Case Carried forward Balance Rs.10240/- in FY 2023-24
entry in Mary month

Dr. XYZ Supplier Rs. 10240/-
Cr. IGST input Rs.1562/-
CR.Purchase account Rs.8678/


please sir suggest to me.