Sir, I ad formed a partnership firm and started to construct residential flats for business purposes. Construction has already started and advances has also been received from clients. Now I have to filr ITR for AY 2019-20. Please let me know the following:
a) Which ITR should I use ?
b) Where to show amount invested in construction and advances received from the clients ?
c) As there is no income during the year, where to show the same ?

In my audit paper I qouted wrong section in an answer but the provision was absolutely right so whether I will get any step marking for the
remaining answer or the examiner will cut the whole answer

A firm is engage in the business of labour supply to his client by deploying manpower from contractor with predifined margin. On the basis of record with client ( attendance record etc.), firm is raising the periodic Bills (GST TAX INVOICE)to his client and paid GST accordingly after taking the Input Tax Credit from his contractor. In summary the business model is -
Input from Contractor + Own Margin = Output
Service to Client
The query is
If the Firm is raise Output Service Bills without Input Service ( By way of proper Tax Invoice from Contractor) and recognise his revenue and to math the revenue estimated expenditure is also provided for the month and after receiving the actual Tax Invoice from ( after 1-2 months ) Contractor claim ITC.
For ex. In April Output Service Rs. 100 Lakhs, Input Nil In June Output Service Nil , Input Rs. 80 Lakhs.
1.Is there any violation of GST provision by following above practice ?
2.Whether Month to Month booking on back to back basis is mandatory under GST Law ?

I sold goods to Haryana but due to delay in supply Haryana rejected my material, consequently found new buyer for the same material at Rajasthan and Iam registered at Delhi.

I want to deliver the rejected goods directly from haryana to rajasthan, how to make eway bill

Dear Sir / madam,

we are having one firm doing business in the nature of FMCG products trading ,
we can use for internal transfer or vehicles will be used for transportation of goods to customers,
can i use ITC for the purchase of that vehicle ..

Hi Sir,

We are taking service of GTA from a person in Telangana with whom we have annual rate contract, we are contacting with them when ever we need a service in Telangana and in other state.
For Taking service in Telangana, the bill and consignment note both have gst number related to Telangana so we are paying csgst on rcm basis, but when we asking them for service(inward supply to the company) from other states, they are issuing bill having address and GST number with Telangana state and consignment note which is issuing by the branch of other state of GTA provider quoting their branch GST number.. whether we should pay igst or csgst on rcm basis please clarify in this regard

Thanking you,
M Narender
9052008936

Dear Experts

With effect from Feb 2019, a trader under composition scheme, can also supply services upto 10% of total turnover or 5 lakhs whichever is higher. Whether the following would be conisdered to calculate the 5 lakhs limit

1) Director salary
2) Interest and salary from partnership firm
3) Rent of house for residential purpsoe.

Please clarify

Hello
I am planning to buy a residential property with a home loan. I have some physical silver metal which I would like to sell and use the money for this property purchase. If I use the proceeds to pay the home loan (within one year of property purchase) will it be exempt from long term capital gain tax?
Thanks

Dear Experts,
I am GST dealer manufacturing toys & issuing GST bills for all our sales, but Way bill not generating for sale invoices below 50,000/-.

My query is -
1) Is E- way bill generation compulsory? if I sell goods to interstate URD for value below 49000/-.
2) Is E- way bill generation compulsory? if I sell goods to interstate GST registered dealer for value below 49000/-.

Please advise as per prevailing rues.

Thank you

Vijay Kumar

Sir

State Bank of India has sanctioned Cash Credit Limit of Rs. 16 crs and Letter of Credit Limit of Rs. 9 crs. Next renewal is due on 29/12/2019. Now Saraswat Co op Bank is taking over both the Limits. State Bank of India informing that they charge Pre payment charges of 2% on Cash credit limit and also Letter of credit Rs. 50 lakhs. I want to know whether they can charge pre payment charges on Non fund based limit Letter of credit of Rs. 9crs.?