Bikram Dulal
11 January 2020 at 13:24

Loan funds

How to show in our Private ltd company balance sheet the loan funds availed by Mr. X who is a relative/friend of Company CEO(also the owner of company having 98% shareholding) where the entire Loan availed by Mr. X has been used to fund the business of the Company. The company also pays the EMIs of this Loan.


sona1
11 January 2020 at 13:08

Tds nil return

We have already fillup 24Q TDS return Q1,2019 & Q2,2019 for the Financial Year 2019-20 in prescribed time. But this Quarter (i.e 24Q3,2019) we have not deducted any TDS from our employee (because employee left his job.) Can We fillup NIL 24 Q TDS return or any other process.................


MAHESHA R
11 January 2020 at 12:30

RELATED PARTY UNDER GST

Dear Expert

Kindly advise how to treat related party Transaction in GST and we are having day to day sales & Purchase from our Sister Concern Company.

What are the step to be taken care for this transactions.


Vikram Sodhi
10 January 2020 at 23:14

IT Deduction under Sukanya Scheme

My wife is a homemaker, we have two daughter’s, for whom we have opened the Sukanya account. Both accounts are in the name of my wife.
Every month I transfer the amount to my wife’s account through Fund Transfer from my salary account from where it gets deducted for the Sukanya accounts.
Can I claim the deduction under 80C in this case while filling my return.


Rahul
10 January 2020 at 23:13

Intimation under 143(1)

Hello,
I have filed itr 7 for an unregistered trust for A Y 2018-19 (i think i should have file itr 5), now i received a intimation under 143(1) to pay tax on the voluntary contributions, there are no voluntary contributions, contributions are made by members only. How to deal with this.


Abdul Salam
10 January 2020 at 18:52

Companies act

what is the ceiling limit for a company to borrow loans from a bank


CA Reshmi Greeting Kumar
10 January 2020 at 16:50

Retrenchment compesation

Hi,

Is there any rebate or relief available for retrenchment compensation. If yes, could you please help explain that.

Regards,
Reshmi


Deepak Chouhan

Hello Sir,
I am small Retaurant owner & my sales thruout zomato ,Sweeggy & oyo hotels bye online order ,so my question is where should i show my sales in GSTR 1 is my B2B sales Or B2C sales ???? bcz i have +50 sales bill every day by oyo & zomato so what i do now ..... even they are deductiing TCS also ...please help me


karan kumar
10 January 2020 at 14:57

Gst on on catering service

Dear Experts!
We do provide outdoor catering service in two variants 1) inclusive meal and 2) only service!

Pls let me know the HSN code and GST rate of both the variant,

Thanks
Karan


V.S. Balasubramanianpro badge
10 January 2020 at 14:40

IGST ON EXPORTS

Hi All

One of my overseas client is not ready to pay IGST on the services done in India (other than Freight). He says you get a refund from Government.

I am copying the message received from my customer's GST consultant (India).

1. GST has to be charged on local services up to the port of export.
Though Foreign customer need not pay the GST, GST has to be still charged in the invoice and adjusted against the GST Input credit available on input services / to be paid in cash.

2. This GST output can be claimed as GST refund on export of services with payment of tax on producing of FIRC copies (Foreign inward Remittance Certificate) provided the cash is received in convertible foreign currency within one year of the invoice date. The timeline for GST refund by the department is 60 days provided all the documents are correct.

EX:
Local Service Charges billed to the customer = 100
GST on local services @ 18% = 18
Export Ocean Freight on Export = 2000
GST on Export Ocean Freight = 0 (Exempt)
Total Invoice value Payable by the customer = 2100

GST refund on export of service with payment of tax = 18
Net loss for 20CUBE INDIA = 0

Please GST experts solve the above whether the consultant is correct.

How we can get the refund

Regds
Bala





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