We are in business of mining and quarrying. For business we are going to buy an excavator, should we claim ITC of the same? Is ITC on excavator fall under restricted credit that we can not claim and does Excavator fall under "motor vehicle" as per motor vehicle act.

Sir/Mam,

GST9C Annual Return FY 20-21 Audit is mandatory or not, if mandatory how much turnover we have to audit. what is self certification ?

Plz clarify my doubts

Whether it is mandatory to furnish HSN summary of inward and outward supplies in GSTR-9 for FY 20-21? If not please mention relevant notification number along with provision. Is there any categorywise exemption?

is the provision of section 44ad(4) i.e. declare profit for the five assessment year, also applicable on 44ADA? If one person files a return under section 44ADA for the financial year 2018-19 and opt-out from 44ADA for the financial year 2019-20 and files ITR 3 (maintenance of books of accounts.) Can he file a return again under section 44ADA for the financial year 2020-21? Kindly clarify.

An individual purchased a commercial shop under construction in 2017-18 after paying a substantial amount and executed an agreement of sale. However possession was handed over to him only in 2020-21.
1.If he sells sells the property in the current year, what will be the period of holding i.e., will it be considered as a long-term or short-term capital gain?
2. If it is a long term capital gain, will year of indexation be considered as 2017-18 or 2020-21 for cost of acquisition?
3. Are there any case laws to support the same?

This problem is in AY 2021-22. I am a Resident and do NOT have any income by way of winnings from lotteries, crossword puzzles, races, games, gambling and betting and have not filled anything in Sl. No. 2a of Schedule OS relating to income at special rates. However, during validation of ITR ( whether online or through JSON utility), I get error "In schedule OS. Sl. No. 10, the quarterly break up by way of winnings from Lotteries,...betting, (etc.),referred in Section 2(24)(ix)is not equal to Sl. No. 2a Winnings from Lotteries, etc. chargeable under 115BB-DTAA 115BB respectively. Even if the values are input as zero in both serial nos. 2a and 10, the error keeps cropping. Hence upload of return is no possible. Please advise.

Hi All
One of my client has sold the goods and goods got lost in transit in the month of dec -2020. Goods did not reach to the customer.Client has paid GST liability as well.

Now he has filed a claim with insurance company for the loss. What treatment needs to be given in the books for the goods for GST as customer of the client wants reversal of credit which is seen in GSTR-2B?

Whether insurance company will pay the claim with GST or without GST?

Thanks in advance.

Dear Sir\Madam,

I have to ask you if the flat purchased by husband-wife jointly & making payment from common bank account, than the TDS should be pay to government in the ratio 50-50% or by first holder only. I have to also inform that the ratio was not mention in agreement.

I received Commission Received of Rs. 1,94,65,450/- for the F Y-2020-21. for this case Have to Tax Audit Compulsory or Can File Profit Shown More the 8%. If Showing More then 8% Compulsory Have to Do tax Audit

Please Clarify this Issue Sir

The assessee has deposited LTCG in CGAS account while claiming deduction U/S 54 in AY 2019-20. He has purchased residential property in AY 2021-22 by utilizing entire CGAS account balance. How and where to report in CG schedule in new utility?
Please guide.