Dear Expert,

We are into automobile sector and has procured goods , locally and imported .
We have availed GST credit on the same, also part of import material has come under Advance Licences and EPCG Licences both .
We are exporting our final product with payment of IGST as per rule 96. and getting refund of the same.

Afain,As per Rule 96(10) ,it restrict the importer to take IGST refund if the assesse has availed benefit notification 48/2017 except if assesee has bought goods under EPCG Licences.

Howeever , as we have procured goods both under EPCG and advance licences, if the restriction is applied to us also?

Dear Expert

I have shown less amount of outward supply in gstr 3b & 1 returns of financial year 2017-18. And we had not made any provision/payment of the same in a subsequent years. Our GSTR9 return is still pending to complete.

Can we add remaining part of outward supply in GSTR9 and pay tax on increased amount of supply ?

Thanks

I recently sold my father's house, who expired a year back. We are four legal heirs (mother, myself, my two brothers) to that property. On selling the property, I asked the buyer to make the payment fully to my mother's bank account itself. On computing the capital gains using indexation, it comes to around 8 lakhs. Sale deed to buyer was executed by all of us but in the sale agreement, there is a statement that says the payment was made to my mother as per our request. I have got below queries with regard to payment of capital gains tax. Please clarify.

1. Since the sale value is posted to my mother's account, is it ok if my mother pays capital gains tax @ 20% on 8 lakhs?
2. Even though my mother got the amount, as legal heirs, from capital gain tax perspective, do we have to split the capital gains as 2 lakhs between us and pay 20% capital gains tax that amount by each of us individually?
3. If both approaches are acceptable by law, which is the safest approach that would not result in any queries from IT department?

Hi
I am a partner in a CA Firm. I am doing some audit work that I received personally, without involvement of any of the partners of my firm. Can I issue invoice invoice for the professional fees in my personal name and not in the name of firm. Please reply.

Thanks

Which expenses are applicable under RCM liability for Infrastructure Business ? Can any one share List of expenses which are covered under RCM ?

Hello Experts,

We are in service industry, my query is in 2018-19 (Feb) we had raised Gst Invoice, client had not booked till date and now asking to cancel it, can we cancel in Feb or March 2020.

Hi Experts,
Our buyer rejected our consignment.And he regret re work at destination. So we have only one option .
To bring back that item and send it back after re-work.
1) if i import that item duty is applicable?
2) When i am sending after re work is there any new shipping bill filed?
3) First shipping bill how can i close?
PLease give me a brief details on this criteria.

One of the partner of a partnership firm sold his individual property attracting Long Term Capital Gain. Now, he has purchased another property to save the LTCG, but the property purchased by him is in name of the partnership firm in which he is a partner. Please suggest, whether he will avail the benefit of exemption of LTCG u/s 54 to 54F?

A gst registered composite scheme partnership firm conversation 01.04.2020
changed from partnership to proprietor allowed in gst act.

Question:
1. Producure of change from partnership firm to proprietor.
2. Producure of Closing stock value amount treated as on 31.03.2020 in gst act.

DEAR SIR,

I AM AUDITING A CHARITABLE TRUST, GOVT SANCTIONED RS.500000/- TO CONSTRUCT A BUILDING. NOW CONSTRUCTION OF BUILDING HAS BEEN COMPLETED AND THE PAYMENT GOES TO THE CONTRACTOR ACCOUNT NOW MY QUESTION IS HOW TO TREAT THE BUILDING ACCOUNT IN THE TRUST BALANCE SHEET. BECAUSE THE AMOUNT NOT COME TO TRUST BANK ACCOUNT. WHICH HEAD SUITABLE FOR THAT.

REGARDS