A taxpayer imported goods of $20,000 from Malaysia. At the time of import he paid IGST of Rs. 1,00,000 and took full ITC.

Now at the time of payment he receives discount of $5,000 from the supplier. Since the supplier is not registered in India he gave a letter for discount.

Query:
1. Since the supplier is outside India, I should issue debit Note on his name for accounting effect?
2. Whether the debit note shall be issued or the discount shall be treated as separate supply under GST?
3. Since I will not be reversing any ITC so i should issue Financial Debit Note instead of GST debit note?

We had started a Finance business (company incorporated) last year .
My self and my friend are the two directors. Now we have decided to discontinue our business.

what is the procedure for winding up of the company.
How long is the process for winding up and how and when we as directors of the company can take back our money

Kindly advice

Thanks

Dear Sir,

Could you please confirm me, where we have to show Interest on PPF Tax free Income under which section .
1. Sec 10 (11)- Statutory Provident Fund received
Or
2. Sec 10(12)- Recognised Providend Fund received

Please help me

Sir
At the end of year, the balance sheet shows,
TDS Payable - Rs.400000/-
TDS Receivable - Rs.600000/-

How to close the above TDS account and carry forward it to the next year
Plz clear my doubt
thanks in adv

Dear Sir,
A Individual filled his IT in 44AA for the past 2 year Ass yr 2018-19 & 2019-20.
Can he fill IT in 44AB in Ass yr 20-21 . If so what will be consequence. Please clarify
Thanks

Two I.t return filed individual Assess single bank sb account maintained jointly transactions
1st Assess trading transactions in bank sb account
2nd Assess rental income transactions in bank sb account.
Question:
Two I.t. return filed assess every transaction 50:50 share or Assess applicable transactions only entries passed in books.

Hi All,

The assessee passed away in October 2020. His wife has been registered as the assessee's legal heir / representative on the e-filing website and the request has been approved by the e-admin.

Which / whose bank account details to be provided in ITR for claiming refund?

Can wife provide her own bank account details (single holder account) in ITR of her deceased husband's ITR to claim the refund?

Thanks.

Our client has received Rs. 20 lacs from Bank towards swiping charges(cash Back) during the year. Please advise, whether GST is applicable under RCM.

Sir I'd filed my tir for ay 2020-21 in June 2020.On 2nd Dec,2020 while checking in my portal,it was showing as 'Return processing is in process' and remains same as in today.But in my account on 4th Dec,2020 the refund amount with interest credited from IT dept.Sir no intimation or sms came till today I.e 15/12/2020.Sir what to do now?Have i to wait more to get my intimation 143(1)? Or to give request for 143(1) through portal?In my portal it is not showing as 'itr processed' but got my refund back.Feeling very strange.

Facts of the case : Assessee has 2 business, one is of Construction and another is of Cement trading.

If he has used cement bags for his construction business, then two issue arises

1) Sale to self (another self business). Shall we issue invoice in self name??
2) Shall we take ITC on purchase of Cement bags ??