Can we apply for Refund of Reverse charge paid on behalf of unregistered supplier as we ca apply for refund of ITC in case of export of services without payment of Tax.

Dear Experts,
If a Director of a Private Limited Company gets Loan of a sum of Rs 20,00,000/- and has neither given any interest nor repayment.....Is it Considered as Deemed dividend and will it have any tax implications, If so is it taxable in the hands of the Director or in the hands of Company??

we are paying GST on RCM basis of Freight charged by Transport agencies. If debit note is issued to transporter for shortage amount of material then corresponding input amount to be reversed? And so RCM liability is reduced by such gst amount on shortage?

We have a man power supplier who bills nearly for Rs.2 crores/anum. Now my HR wants to split the single man power supplier in to 4 so as to get benefit under composition scheme for service providers which is 6% if annual turnver below Rs.50 lacs. Earlier we used to pay 18%. is it right to do so. plz mention consequences also.

please suggest me,
i have converted from composite to regular dealer on 20-04-2019,now (10-06-2019) i would like to file 3B for the month of april-19(21-04-2019 to 30-04-2019).but before that i am trying to fill form itc-01 for taking input tax credit on stock held by me as on 20-04-2019.but in portal it is not accepting to enter values and showing like( Due date of filing claim of input tax credit through Form GST ITC-01 under clauses (C) of sub-section (1) of section 18 is over. The claim cannot be filed now.)or like( Due date of filing claim of input tax credit through Form GST ITC-01 under clause (d) of sub-section (1) of section 18, based on the date of notification specified, is over. The claim cannot be filed now).
please suggest me that,
1.is there any time limit for taking input tax credit after conversition from composite to regular?
2.is there any circular refering it?
3.if i am not able to claim input tax credit,can i get back to regular to composite right now?

I have been working with a company for 8-9 years,this time TDS for one month out of 5 month is deposited under section 194C instead of 194J.And I informed my company related to this matter but they are not taking any action.I want to know will I be able to file my ITR any can as a tax payer can make corrections or process for rectification so that I shall be able to file my ITR

How much the limit for cash withdrawal as drawing by Proprietor from his business in a single day? (10000 apply?)

Dear All,

I am facing an accounting problem for Revenue recognition for below EPC Case
Client is a contractor and has awarded a EPC contract by Govt for Rs.100 .
The client is required to Supply goods and services both , the portion of supply of goods is of Rs.60 and Services (erection services ) is of Rs.40. The client has subcontract to the same work to another contractor for Rs.100, which includes supply of goods for Rs.70 and Service for Rs.30.
Further the client has payment term with Govt is 90% payment of Supply of Goods will be made on completion of supply and balance 10% after completion of services part.

My Questions are as below

1. What will be the accounting treatment in the books of Client and subcontractor for supply of goods ?
2. What will be the accounting treatment in the books of Client and subcontractor for supply of services ?
3. which accounting standard or IndAs will be applicable for Revenue recognition ?
4. What are the Tax provisions under Income Tax Law and GST law will apply for Tax purposes. ?

Mr. X has Gross Commisson Income of Rs. 400000.00 ( Net is 200000.00) and has 44AE ( 2Truck Income).
REturn submitted without books of Account. Showing

Business Income U/s 44AE and
Business Commission Income With out Books of Accounts .. Rs. 200000.00


Received Defective Return Notice....
Reason of Same ????

Mr. X suffered Loss in FNO of Rs. 350000.00, where to show same in ITR, is it a Business Speculative Loss or Income from Other Sources. IF its Business Loss than.. Books is compulsory or its 6 Percent Profit is compulsory U/s 44AD or directly showing Business Loss without books of Accounts. Plz guide.. thanks in advance