Dear Sir's,

This case pertains to our Company. Following are the facts.

1. Export Sales Invoice done on 1st March 2020 for US$.225,000.00

2. Let Export given by customs and dated as 20th March 2020.

3. Containers stuffed with the cargo and in Nhavasheva Port.

4. Due to lockdown the Vessel could not dock and now the cargo in inside the Port premises. Once the lockdown in open we will immediately dispatch the goods and the Bill of Lading will be dated as maybe 20th April 2020.

Now my question is:

1. As the Sales has been booked on 1st March 2020 will the sales stand in the accounts books for the Financial Year 2019 - 2020.

2. As the Customs has given Let Export order and in the Customs web site it has been registered as sale in this Financial Year 2019 – 2020.

3. Will the Bill of Lading which will have date a of 20th April 2020 wherein only physical movement will be done have a effect on the sales for the Financial Year 2019 – 2020.

Kindly get a detailed written reply from you Professional Contacts as our CFO is telling us that he will cancel this sale and re-book in the year 2020 – 2021

Awaiting your reply to this mail.

Thanks & best regards,

CARL M. MATHIAS

Dear Experts,

* Mr. X is an NRI and employee Oil Drilling Contractor "Drilling Inc" in UAE .
* "Drilling Inc" received a contract from ONGC India to extract oil from the offshore oil rig in Mumbai from the month of January - February.
* "Drilling Inc" sent their employ Mr. X to Mumbai to provide service to ONGC.
* Salary is Paid by "Drilling Inc" to Mr. X in UAE for all 12 Months.

Is salary earned by Mr. X who is an NRI taxable in India for the month of Januray- February??

Hi all,
A freelancer photographer earlier a salaried employee in an MNC wants to register himself as a photographer. Following are queries:
1) will it be a profession or business
2) will it be sole proprietorship or LLP ,benefits into consideration, which would be more beneficial.
3) where to register himself, which website
4)will he be requiring trade license
5) will he be requiring GSTIN.
6)REGISTERATION OF TRADEMARK , is it mandatory.

Thanks all.

I have a private limited company, wherein there are 2 directors who are even shareholders for the same. They are not receiving any remuneration by way salary for the year. At the end of financial year, they are willing to charge consultancy fee for the period.
share capital being 1 lakh and consultancy fee being 10lk
Can you help me out if any restrictions are there on payment of consultancy charges.
Is any resolution required to be passed for the same.?
If yes, under which section it is applicable?

Dear All,

Requesting detailed SOP samples for:
Accounts Receivables
Cash and Banks
Reporting/MIS
It will be helpful if anyone can share detailed processes for ecommerce company.

Dear,

Just had asked a Q of shifting March Purchase invoice in april, i had received answer "NO", but if bill is still not done then in that case can we shift.

ONE OF MY FRIEND RECEIVED COMPENSATION PAY FOR VRS DUE THE CLOSE DOWN THE FACTORY DURING THE MONTH OF JAN.2020. PLEASE LET ME KNOW THE COMPENSATION PAY LIABLE FOR INCOME TAX OR EXEMPTED FROM IT FOR THE FY 2019-20 (AY 2020-21)

PLEASE CLARIFY

REGARDS
S. RAVICHANDRAN

Dear,

Can we shift March bills in april though we have not paid tds or neither claimed ITC .Gst is still not reflecting on portal.

What would be the time of supply in case a painter gives his paintings to a gallery. If the painting is sold the gallery keeps a certain sum for itslef and the rest is given to the painter, and if it is not sold then the painting is given back to the painter. The gallery only recognizes an income if a painting is sold. It doesn't charge a commission for only displaying the painting.
How should the transaction between the painter & the gallery be recognized ?
Is it a supply of goods or services? Should it be treated on Goods on Approval Basis?
Please suggest regarding the same.

Hello everyone!!

One of my friend wants to cancel the GST registration(regular scheme). And he is having the stock of Rs. 2,00,000 and GST on stock is around 35,000. He has filled the GST return for the month of march 2020 and also he has filed the GST1 for the quarter Jan-20 to Mar-20. Reason for cancellation is he has not reached the threshold limit for last two financial year.

What will be procedure to cancel? 
How to make the payment ?

In future if he wants can he re register?