If suppose, the assessee company could not file form 10IC before the dure of filing of income tax return through oversight and Tax auditors has mentioned the option for concessiona rate of tax i.e. Section 115BAA, whether the demand raied for application of normal rate of tax, Can assessee file rectificaiton applicaiton to the learned assessing officer for cancellation of demand. Kindly advise

Respected All,
Good evening.
We r importing materials whose gst rate in India is 12% and this is on FoB terms.
Since this is on FoB basis, the ocean freight will also become a part of assessable value during custom clearance.
We r paying this ocean freght to the service provider/forwarder in INR with gst @5% in India.

My question is that, CAN WE CLAIM IMPUTS OF THIS OCEAN FREIGHT..?

Yours valuable reply will be highly n humbly appreciated. Also requested to share any documentary reference in this regard, if any.

Thanks n with best rgds,
A Samal

I have generate IP for 2 employees in ESIC today

When I am trying to file the ESIC it is showing error that IP is invalid

Can anyone pls guide

What happened to ICAI exam reforms?
What were the ICAI action on high level committee report?

Dear Sir,

One of my client is into Transport business of Freight and his Income tax return is filed as a proprietor. He is also registered under GST wherein his Sales is exempt from GST.

The total turnover of his business is Rs. 3.5 crore. I want to know is he be liable for tax audit U/s. 44AB for F.Y. 2020-21.

Please help me in this matter.

Regards,
Divyesh Jain

Dear Sir,
I have applied for conversion of CA Final old Course to New Course Through SSP Portal and the same application has been approved by the institute on 19th Dec 2021 but Institute have not shared me any link for Study Material dispatched or to be dispatch either on Registered Mobile No. o on registered email id. What should i do to get the Study Material from the Institute and whether institute will dispatch the Study Material or we have to purchase that. Kindly Assist.

If one discontinue to pay premium for ULIP after 3 years but receive amount after 5 years i.e maturity term. what will be the taxation effect?
What will be the taxation if 80C benefit not claimed?

Sir i want letter format to icai for prior approval for transfer in 3rd year . I want to serve the remaining period of articleship in nepal.

Dear Sir,

One of my client is into consultancy business and he started the business in April 2021. In the month of October 2021 his Gross sales became Rs. 21 lacs and he was liable to take GST registration.

He took the GST registration in November. My query is how will the GST payment be made in such a situation. Will he be liable to pay GST on the entire Rs. 21 lacs and how the Sales turnover will be shown in GST return as the GST certificate was taken in November month but the sale started from April month.

Please help me in this matter.

Regards,
Divyesh Jain

Sir,
Is GST Applicable for Gram Panchayat work example: A is a contractor, he is done the work for Gram Panchayat (cc road, drainage and water system etc...) & If yes, please tell me what is the GST rate ?