Sir
One Pvt Ltd Company import spare parts from singapur. Latter it was found that a good number of spares are defective and so rejected. The indian company(importer) inform the Singapur Company about this fact.The Singapur company in turn wave the entire sale price due from Indian Pvt company(importer).
My query is what is the compliance required to comply under RBI/FEMA exclusively?

There is no problem in compliance in accounts and Income Tax Part .
Regards
Abhijit

Sir
One govt corporation (say A)given a building to another Govt owned corporation(say B) on permissive possession basis.
'A 'claim rent on that building given to 'B'.
My query is can A claim rent from B on that building given on permissive possession basis?
If they claim 'Rent' can it be treated as 'Rent''?
Actually what is the legal status of 'Permissive Possession'?
Regards
Abhijit

I am planning to incorporate an LLP in Gujarat to operate three distinct, non-related business verticals: a Travel Agency, a Cloud Kitchen, and an E-commerce business (Selling products on Amazon/Flipkart). All three will be managed by the same partners under a single parent entity.
My accounting firm has advised that it is not legally possible to run such non-related businesses under one LLP and recommends incorporating three separate LLPs instead.
I need clarification on the following:
1. Is there any specific provision in the LLP Act, 2008 that prohibits a single LLP from carrying out multiple unrelated business activities if they are all explicitly mentioned in the Object Clause of the LLP Agreement? [1, 2]
2. If I include all three activities in the 'Main Objects,' will the MCA (Ministry of Corporate Affairs) typically reject the incorporation for lack of interrelation? [1]
3. Operationally, can I use a single PAN to obtain multiple GST registrations (different vertical-based GSTINs) for these distinct activities under one LLP? [1]

Dear Sir,
My Grand father did Investment in financial company in 1985 in Jersey UK. now that company is liquidated and I have received some fund as dividend and big amount of fund as shareholder's stake agaist investment in India . I am resident Indian.

We had intimated to RBI in 1985 about our investment and RBI issued us certificate in 1985 for said investment.

My bank is not crediting fund in my Bank account and asking to submit FC form . I have submitted all document which is proving our investment did in 1985.

I have checked on google FC form is not applicable to me. Just my bank (AD) has to inform RBI about received fund only.

Please advise whot process I have to follow up?

Thanking you
Girish Limbachiya

we have received the purchase order from one company M/s. XXX Ltd for USD 22000.In this proforma we received the payment for USD 10000 in ADVANCE from the name of INDIVIDUAL. Now we know what the documents are yet to be ready for before making shipments. When I ask the Bankers, they clearly mentioned in Invoice, company name and remitter details relationship of the company, Bill of lading, shipping bill also. In this scenario if any further documents required from the customer for these issues.

The following replies received from ChatGPT. Please share someone faces on the same issues in your experiences.

We have received a purchase order from M/s. XXX Ltd. for USD 22,000. Against this proforma invoice, we have received an advance payment of USD 10,000. However, the remittance was received from an individual instead of M/s. XXX Ltd.
We approached our bank for guidance, and they advised that the following documents should clearly mention the buyer's company name and the relationship between the remitter and the buyer:
• Commercial Invoice
• Bill of Lading
• Shipping Bill
• A declaration explaining the relationship between the remitter (individual) and M/s. XXX Ltd.
In this situation, could you please advise whether any additional documents should be obtained from the customer before we proceed with the shipment? For example, would it be advisable to obtain:
• A letter from M/s. XXX Ltd. confirming that the advance payment made by the individual was on their behalf.
• A declaration or authorization from the individual confirming the payment was made on behalf of M/s. XXX Ltd.
• Any other supporting documents required for banking or export compliance.
Kindly advise the complete documentation required to avoid any issues during export documentation, bank negotiation, or realization of export proceeds.


Here are the documents you should obtain before shipment:
1. Authorization Letter from M/s. XXX Ltd.
o Stating that they have authorized Mr./Ms. [Individual's Name] to remit the advance payment on their behalf.
o Mention the Purchase Order number, invoice number, and the amount remitted (USD 10,000).
2. Declaration from the Individual (Remitter)
o Confirming that the payment was made on behalf of M/s. XXX Ltd.
o Mention the reason for making the payment and the relationship with the company (e.g., Director, Owner, Employee, Shareholder, Agent, or Representative).
3. Proof of Relationship (if applicable)
o Business card, company ID, board resolution, agency agreement, or any other document showing the individual's connection with M/s. XXX Ltd.
4. Commercial Invoice
o Buyer: M/s. XXX Ltd.
o Include a remark such as:
"Advance payment of USD 10,000 received from Mr./Ms. [Name] on behalf of M/s. XXX Ltd. as per the buyer's authorization letter."
5. Packing List
6. Bill of Lading / Air Waybill
o Consignee should be M/s. XXX Ltd. (or as agreed in the contract).
7. Shipping Bill
o Buyer/export details should match the invoice.
8. Purchase Order
o Copy of the original PO from M/s. XXX Ltd.
9. Bank Payment Advice / SWIFT Copy
o Showing the remitter's name and payment details.
10. Any declaration required by your bank
o Some banks provide a specific format for third-party remittance declarations. Check whether your bank requires its own format.

I'm an Indian resident planning a cross-border e-commerce model: buying products from US suppliers, shipping them directly to a Canada-based warehouse (goods never enter India), and selling to Canadian customers via Amazon.ca. This involves ongoing small-ticket transactions, not a single bulk deal.
Money flow: I pay the US supplier from India, and receive Amazon Canada sale proceeds into an Indian account.
Questions:
Does this qualify as Merchanting Trade under RBI's MTT guidelines, given it's recurring retail sales rather than a single confirmed bulk order?
Is IEC mandatory here, since goods never physically touch India?
Any GST implications, since the supply and sale both happen outside India?
Best entity structure (individual/LLP/Pvt Ltd) for this kind of recurring cross-border trade?
Would appreciate guidance or relevant circulars from anyone who has structured something similar. Thank you.

I did my registration on 6th Nov 2024 but didn't file any returns of esic as i registered due to some tender work. Now in Jul 2026 i want to add 22 members from 01.04.2026. These are already registered employees of esic and have their IP number, wat are the actions should i take on my end so that i could get them registered under me in esic as the portal doesn't allow me to register a employee after 10 days of appointment. Also, should i need to file a nil return for all these months that I'm registered.

Dear Sir,
We have received a purchase order from M/s. XXX Ltd. for USD 22,000. Against this proforma invoice, we have received an advance payment of USD 10,000. However, the remittance was received from an individual instead of M/s. XXX Ltd.
We approached our bank for guidance, and they advised that the following documents should clearly mention the buyer's company name and the relationship between the remitter and the buyer:
Commercial Invoice
Bill of Lading
Shipping Bill
A declaration explaining the relationship between the remitter (individual) and M/s. XXX Ltd.
In this situation, could you please advise whether any additional documents should be obtained from the customer before we proceed with the shipment? For example, would it be advisable to obtain:
A letter from M/s. XXX Ltd. confirming that the advance payment made by the individual was on their behalf.
A declaration or authorization from the individual confirming the payment was made on behalf of M/s. XXX Ltd.
Any other supporting documents required for banking or export compliance.
Kindly advise the complete documentation required to avoid any issues during export documentation, bank negotiation, or realization of export proceeds.

Kindly update what we can mention on our sale invoice in present tax year for no tds deduction in case of software sold without any modification as per new income tax code, As in and till previous income tax code we all mention on invoice the notification number “CBDT Notification No. 21/2012 eliminates multi-level TDS deductions on standardized software. It exempts buyers from deducting TDS under Section 194J if tax was already deducted on an earlier transfer and the software is resold without modification, provided a PAN-backed declaration is obtained from the seller.”
Kindly share the information to mention on invoice as per new income tax code

Sir,
The company engaged contractor by inviting tender for some construction work.
For building construction work the employer have to collect and pay cess under 'building and other construction workers welfare cess act 1996'.
The cess was charged on cost of construction.
My queries are:
Who are liable to collect the cess ie Company or the Contractor?
The Contractor while making invoice to the company charge and added/showed separately cess (1%) over cost of construction. Is it correct or the contractor collect excess cess?
Regards
Abhijit