Respected Sir,
(A) I have output GST liability as IGST - 20000 CGST - 4000 SGST - 4000
I have credit ledger (ITC) as IGST - 22000, CGST - 1000SGST -1000
I have cash credit as IGST - 1000 CGST - 500 SGST -1300
can I offset IGST liability by using 1000 cash credit, so 20000-1000 -19000. So credit balance available as IGST is 3000, which I will utilise to offset CGST and SGST liability
CGST - 4000-1000-500-2500 (from IGST credit balance)
SGST - 4000-1000-1300-500 (from IGST credit balance) so tax to be paid is only SGST - 1200
Is this correct as shown in (A) or
(B)
I have to first offset IGST only by IGST credit balance only and till such time I can not use cash IGST balnce to offset IGST liability and hence IGST credit balance cannot be used to offset CGST and SGST liability.
Please guide.

Hi,
My name is Dinesh, I'm Direct entry student, My Articleship completed on 3rd January 2022, I have extension of 13 month I'm served extension in another principale but after 1 year, can I do so,
Which form require to be file
In exam form which option choose 1. Direct entry student 2. Compeltetion of Articleship

Difference in book and 26 AS. The Income as per Books is 2500000 and Income show in 26 AS is 2850000 . If I filled my IT return as per Books then my return is defective or not. Please suggest the option available for me

Hello All
Sir I want to know about TDS of contractor threshold limit..
My client is the owner of floor in a building.. he gave to one contractor the total contract of say 60 lac to rebuild his floor.. if he give the ready floor in say around 1.5 years then the TDS to be deposited by the owner can be ignored or not..
Threshold limit for TDS is 50 lac per year or what?
Regards

A charitable religious trust contracts with broadcasting agency for live telecasting of "katha" ? Is tds required to be deducted on payments made by trust to such agency ? since such contract does not amount to works contract ? Or is it required to deduct tax ?

Hi,

As per my understanding When Shares in Demat Account are sold, FIFO ( First in First Out ) method is considered for calculating period of holding & accordingly STCG Tax or LTCG Tax is applicable.

But if an individual has more than one demat account & has shares of same company in each demat account, how period of holding will be calculated ?

1-Will period of holding of Shares calculated demat account wise or

2-Will period of holding Calculated basis date of purchase, irrespective of demat account in which they are held

Please advise

Mr. A Pays INR 1 Lakh to Builder ABC for a flat which is getting constructed.
MR. A gets Allotment letter and buyer builder agreeement
total flat value is 2 lakhs.
what shall be the accounting treatment?
whether 1 lakh paid will be treated as advance or full 2 lakhs will be recorded as Fixed Asset and 1 lakh payable to the builder.

SIR,
A composite scheme registered pharmacy retaile business dealer sale of turnover rs:58 lacs declared in gst returns f.y. 20-21(CMP-08 RETURN AND GSTR4 ANNUAL RETURN FILED).dealer rs:58 lacs turnover sales from cash mode receipts. but dealer online mode (google pay and phone pay etc) sales turnover rs:10 lacs amount not reported in gst returns f.y. 20-21.
Question:
1.Dealer sales turnover rs:58 lacs or (rs:58+10) rs:68 lacs declared in it returns.
2.dealer sales turnover rs:68 lacs declared difference rs:10 lacs amount tax through DRC-03 pay correct.
3.dealer sales turnover rs:58 lacs declared rs:10 lacs bank transactions treatment (adjustment procedure) in books.

My client is registered dealer in GST sells wallpapers. He wants to donate Wallpapers to a Temple and will get benefit of 80G Deduction. As this is Donation and not regular Sales therefore there wont be any GST charged on such Donations.
Will the Donation attract GST ? Should my client issue bill for d same?

Commission received on man power recruitment agent taxable u/s 44AD. Also Claricfy the Turnover for this one is commission alone or it include deposit received from person seeking for employment.