Ours is a pvt ltd company and we are holding two trucks which are to be sold to some other private limited company. There are certain queries on such transactions as follows :

Whether GST shall have to be paid to the supplier ?

Whether TDS shall have to be deducted by the supplier against the sale value ?

Please guide me and oblige.


Ok

Dear sir,

Good evening

Today, we have done tds payment by online but we have shown the tds amount in surcharge column instead of tax column , How can i rectify the oltas challan sir, Can i rectify the tds challan in online sir or submit letter to assessing officer.

Please give your valuable reply sir,

A proprietorship firm had taken unsecured loan from several individuals since last 8 years with a high interest rate ranging from 24%-36% per Annum. It was paying interest monthly to the lendor. But, the firm had not booked exp. and also not deducted TDS on interest portion of Unsecured Loan. Now, the firm wants to claim the past 7-8 years interest expenses in current financial year and will deduct TDS on the same.

Can the firm able to claim it as expenses belongs to prior periods in current year? If yes, then elaborate with proper provisions along with any case law available.

Example:
Unsecured Loan availed by proprietor 1 Crore
Interest Rate: 30%
7 Years Interest: 1 Crore * 30% *7 Years = 2.10 Crore

In previous Years, the firm had not booked exp. of Rs 2.10 Cr. and not deducted TDS. Only interest payment entry was made. Hence, ledger of lendor Credit Balance of 1 Crore, becomes debit balance of 1.1 Cr. Now to reconcile the ledger, it wants to book 2.1 Cr interest in current Financial Year as allowable exp. by deducting TDS@10%. Is it allowable under the Act?

Please give suggestions.

Dear Sir,

I am receiving sms and emails for registering with PTRC and PTEC. I am only registered with GST. Came to know that all people who are registered with GST are getting such emails but not liable to register with Profession tax since they don't have any employees.

What should I do.

Regards,
Divyesh Jain

I have been allotted two pan cards. This problem arises due to confusion on submission of documents regarding proof for identity and proof of address.
I have not used the duplicate pan card under any circumstances as I am aware that it is illegal.
I applied for surrender of additional pan card for two times through online mode without any delay. Acknowledgement number also given. It is not the mode of applying for change in pan card online mode.
Duplicate pan card has not been cancelled by Income tax department so far.
Kindly assist me the proper way to surrender my duplicate pan card either by online mode i.e., applying for change in pan card through online mode by simply selecting the column for surrendering additional pan card or by offline mode by writing a petition regarding this matter to the concerned Assessing Officer.
In uploading document section for Proof for pan card - which copy of pan card should I upload either original pan card which I like to retain or copy of duplicate pan card which I like to surrender or both the pan cards.

Our company constructing new factory. There has been some construction material like interlocks have been purchased. What journal entry to be passed ?

Respected sir,
I want to ask a query that how we registered as a tax deductor with sam GST No. which alloted as normal taxpayer. I go to New registration and registered as a tax deductor like normal taxpayer. GST department issue a gst no which is almost similar but last 2 digit are change. Now i want to ask that whether process is correct or incorrect. If incorrect then provide the process for the same

We charge GST on Labour contract under reverse charge when the supplier is not registered. Applicable rate is 18%.When does it came into effect? i.e What is it is applicability date?

Dear Sir,
We are exporter of Carpets in Varanasi (U.P.) and we have to use data integration software in which we fill exported goods details .
for usage of the software we will make payments in USD to a US based company.
My query is that whether we are liable to pay GST on such usage of software or not.
If yes please guide me with relevant section /clause mentioned in GST act.

Thank you in Advance

Can depreciation be charged at rate less than the rate specified in the act?