Pawan Kumar Naidu
This Query has 2 replies

This Query has 2 replies

06 February 2024 at 16:54

Irregular availment of Input Tax Credit

Hi,
I filed my feb 2018 GST returns in March 2019 . As per the GSTR-3B
returns by violating the provisions of section 16(4) of CGST Act, 2017).I have received show cause notice, I have already closed my business. Further I can pay the principle liability but the interest amount is farfetched, can you tell me if I need to pay interest till date.Is there any way to avoid it


Meghna
This Query has 1 replies

This Query has 1 replies

30 January 2024 at 16:01

Clause 44 reporting under Tax audit

Under clause 44 one bill has two components Taxable supply and Non-taxable supply then Non-taxable value where to report under Exempt supply or other inward supply .

1. Exchange service bill of 100 but under GST taxable value is only 30 then 70 rupees supply how to report Exempt or other inward service .
2. One bill has reimbursement of expenses on which GST is not applicable then how to report reimbursement of expenses under exempt supply or Non-taxable supply under clause 44


Sulafa S.V
This Query has 3 replies

This Query has 3 replies

Sir, Can you please tell me what is the treatment of profit on sale of fixed asset in income tax as well as in the books of a company?
Is this included on deferred tax calculation?
Please help me on this.


Pushpendra Kushwaha
This Query has 1 replies

This Query has 1 replies

When calculating CSR expenditure under Section 198, should the government grant received for capital expenditure be treated as part of the profit? If so, is it the entire amount received during the year, or should it be based on the amortization amount reflected in the statement of profit and loss for the year?


Neha Gupta
This Query has 1 replies

This Query has 1 replies

23 December 2023 at 13:14

80JJAA audit report

Hi,

Company's return is filed within due date with the 80JJAA audit report but CA accept the audit report next day after the return filing, and later on CPC sent email for proposed adjustment and disallow the whole benefit of 80JJAA. Can we do anything here?


Rajesh
This Query has 1 replies

This Query has 1 replies

One of my client is carrying on trading business, he uses his friend's bank current account for deposit of his sales collection and also for suppliers payments.
Please advice the legal consequences on Income Tax point and also advice on the necessary audit qualification on the same.

Thanks in Advance


Yogesh Motwani
This Query has 3 replies

This Query has 3 replies

I was performing an audit in which i noticed that the company has given amounts to employees for sister marriage and for funeral of father or any other family member of the employee eg;-rs5000 for sister marriage of employee X . the company has debited the Donation A/C , should the expenses should be considered under staff welfare expenses?


Sanket Singh
This Query has 1 replies

This Query has 1 replies

05 December 2023 at 12:19

Revision in UDIN after expiry of 60days

Please guide, can we revise the figures provided in generation of UDIN after the expiry of 60 days ?


Marimuthu
This Query has 5 replies

This Query has 5 replies

25 November 2023 at 12:44

Fees to statutory auditor

Dear Experts,
1 A company is paying the fees to the Statutory auditor for issuing the certificate towards related party transactions entered by the company.
2 Since this transaction is not related to the statutory audit, can the company account this transaction under professional fees? Or it has to be accounted with Audit fees
3 Pls confirm


CHANDRAMOHAN
This Query has 7 replies

This Query has 7 replies

02 November 2023 at 18:07

Use of Word "I" or "We" in Audit Report

I am registered as a proprietorship firm with ICAI. While drafting audit report, which word I should use is "I" or "We".

Further, it will be more helpful if any reference of ICAI material is provided.