Hello,
We are Custom House Agent (CHA). We are charging ocean freight in case of both import and export. Right now we are charging gst @ 5% on such freight.

My query is
1. Whether ocean freight in still exempted earlier it was exempted till Sep 2018
2. What is the correct rate to charge in invoice. When i am checking CBIC portal, the rate mentioned is 12%
3. Is ITC available on such freight

Which section of gst act tells about Ocean freight.

Hemlata

Hai Dear Experts Good Evening.
One Of My Client Filed His Returns By Self Wrongly Mentioned His Business N Got Notice U/S 139(9).
Can We Revise It Or Need To File As Newly.
Kindly Guide Me Further..

Hi Folks,
Good afternoon!
INVOICE DATED 15.4.18
EQUIPMENTS DELIVERED 31.5.18
INVOICE RECEIVED 15.9.18
So my question is depreciation should be charged from 31.5.18?AM I Right..... or If m wrong please Correct me where m getting wrong...

Thanks and Regards
Nikhil
Learner

in income tax- deduction limit for home loan interest?

Dear Experts

We are wood working company we spend some expenses for caning,upholstery,Cutting charges but we cant get proper bill for that things. can we take this bills like without gst & estimate bills into our accounts.Kindly give ur suggestions.

KINDLY TELL THE ATTACHMENTS REQUIRED FOR INC 22 ?

Respected Sir / Madam, an assessee has received a notice u/s-139(9) stating as follow:

Error Code
311

Error Description
Taxpayer having income under the head “Profits and gains of Business or Profession” but has not filled Balance Sheet and Profit and Loss Account as required in explanation (f) under section 139(9) read with section 44AA.

Probable Resolution
The Part B of the Profit and loss account and Part B of the Balance Sheet (i.e No Account Case Section) should be entered in the corrected return without which the return filed earlier is liable to be treated as invalid.

At the time of filing ITR for A.Y. 2018-19, ITR 3 has been filed instead of ITR 4 (presumptive taxation), as the assessee was facing some technical issues while uploading .xml file & loss to be c/f upto Rs.1 lakh u/h - House Property & there was no option available to c/f such loss in ITR 4. He earned 12 lakhs from consultancy income but no account maintained & has refund of Rs.1.20 lakhs.

Can he now in response to this notice, in his submission online "DISAGREE" with this & state in the reason the fact stated above & file ITR 4 as then there will be no requirement to file B/S & P &L?

Will changing ITR number be considered as Revised & will make the original ITR 3 filed as invalid & Penalty u/s-234F of Rs.10,000 will also have to be paid?

Any other alternative to get the refund back, avoid penalty u/s-234F & also c/f house property loss like filing hypothetical figures in P & L & B/S, or anything other way?

Please Advice.

How shoul apply gst?

I AM HAVING A SHORT TERM CAPITAL LOSS ON SHARES OF 900000 (9 LAKH) AND LONG TERM CAPITAL LOSS OF 100000 IN F/Y 18-19
CAN IT BE CARRIED FORWARD
NEXT YEAR CAN IT BE SET OFF AGAINST ANY INCOME

WHAT TO DO IF AN ITR OF A.Y 18-19 GOT INVALID ....IS IT A BETTER WAY TO FILE A NEW RETURN OR WE SHOULD REQUEST FOR CONDONATION OF DELAY????? PLEASE SUGGEST