motor car (Fixed asset) sold by registered proprietorship firm to individual at a loss. whether gst chargeable
My name as per PAN is Venkataraman Srinivasan. I have changed my name in Aadhaar also as Venkataraman Srinivasan from V Srinivasan. My PAN No. is already linked with Aadhaar in Income tax portal. Eventhen GST PCT-01 registration shows Validation error - Aadhaar-Name. My Aadhaar number is 770693736405. Please guide how to overcome this problem
What is the impact of GST on Retainership Fee paid to a 1) Chartered Accountant. 2) any other person and both are unregistered
If a GST registered firm is involved in multiple businesses. Can they claim ITC for all the expenses made? Regardless of which business the input is used for?
E.G. A firm is involved in sales of FMCG goods, as well as in providing sales consultancy services. Some expenses will be made for consultancy business like rent, electicity, computers' etc., and some expenses will be made for the sales business like purchase of goods., can the firm claim ITC on both?
Secondly, some expenses are made in cash where we get a Cash bill with GST added. Like eating in a restaurant. How to claim ITC on such expenses? The biller in such cases do not know our GSTIN, and might not have updated it in his billing software. Is there a procedure for such credits?
Thirdly, Can an educated layman, like me file his own GST returns? Or do we essentially need to hire a GST practitioner?
If a buying is agency located in India is receiving commission in foreign exchange from a foreign company located outside india for services provided in india relating to their purchase from Indian companies like identifying Indian vendorss, handling all communication with these Indian exporters and finally making all arrangements for the export of those goods. Will such a buying agency be liable to register under GST and pay GST EVEN IF SUCH RECIEPTS ARE ONLY AROUND 5 LAKHS IN A FINANCIAL YEAR ?
is it mandatory to provide aggregate turnover of p. year and p. quarter in GSTR 1 of july? can we put nil figure in these two? what impact will be of this?
We built a building which will be rented out after completion we purchased material and take service of contacter in which we pay Gst can we take credit & use when we issue rent invoice
It's is true that ,a new changes made for composite tax payers. From 75 lakhs to 1.5 crore turn over is fixed .
How can a Retailer( grocery shop ) pay gst on his sales, who opt for compositions scheme.? As all the sales are cash sales, so he can show any amount of sale to pay less tax. suppose his purchases during the quarter is Rs. 5 lac then he can show sale of Rs. 6 lac only but his actual sale may be greater than this, but to pay less tax he can show lesser turnover. Is this practice correct? pls suggest if there is any other way...
I am trader in stock exchange (buying and selling share )I pay gst on brokerage paid to broker for buying and selling of shares and I am also doing investment consultant for which I received payment ,my question is can I get gst levied on consultancy income be set off against gst paid on brokerage for trading in shares ?
Thank you,
Ashit Parikh
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Gst- sale of motor car