A Non Audit assessee has taken 6 lakhs business loan from private bank and Gifted 3 lacs to son and balanc utilized for Business. What are its implications?

Sir / Madam,

We have received some credit notes from our supplier for quantity discount (it would be based on various slab accumulated over each quarter 10 tonne to 25 tonne; 25 tonne to 50 tonne and so on). Hence we are not assure about the credit amount while procure the materials. The credit note is raised with a lumpsum only without GST portion.

1.Our question is whether we have to reverse the proportionate GST claim now which was earlier claimed by us in our GSTR -3B while procured the rawmaterial?

2. And what amount whether we have to treat as the credit note contains GST or GST applicable over and above the Credit note amount?

3. When our supplier does not reverse the GST applicable on the quantity discount in their return, shall we keep silent (not considering GST reverse at all) in our GST return?

Kindly advise us.

Thanks in advance,

With regards,
Bazeer L

Dear Sir,

we are manufacturer of Diagnostics Reagents. We have applied for classification and GST rate in Advance Ruling Department in the month of February 2018 and attended 2 personal hearings too. Now till date we have not receive and answer or order against our application..... So, please advise, what to do further??

Pl. also advise, if order will issue against our claimed classification than is there any liabilities? if yes, than what are the liabilities are? and from when it liabilities started?

I have stamp paper dated 11 Sept 2018..Can I show my registration date as 10 Nov 2018 in form 103.
Reply fast please..

Dear sir
i am an indian citizen and have MM2H (MALAYSIA MY SECOND HOME) long term visa of 10 years which can be extended further if desired.Under this visa programme, i can legally open foreign account in Malaysia.i want to invest money which i will earn in India, in Malaysian market in equity and mutual funds .

Sir! my qiestion is how will i be taxed in India and is it a wise step..
The economy of Malaysia is open and currency is stronger than that of india.

Dear Sir

I have an income from a Partnership Firm. Previous Year (A.Y. 2017-18) I submit my returns in ITR-2 Form, where I put the details of Income in the Schedule "IF".

But in F.Y. 2017-18 ( A.Y. 2018-19) Schedule "IF" is not available.

Would you please advice me , in which ITR Form I need to use for filing of my Return ??

Waiting for your valued advice.

I have purchased a plot in 1989for RS. 6000. In Dec 2018 I have sold it for 1200000. How the calculation for LTCG will be made?

HOTCHPOT of a HUF is almost empty as such one of it’s coparcener wishes to throw a part of his self occupied property to the HUF ‘HOTCHPOT’ so that on partition of the family each of the coparcener will receive a reasonable amount of HUF property.
What is the process for it & what are the merits & demerits of the planning.

Sir,
i have made a mistake in gstr 1 in march 18, my mistake is plotting wrong party name.It has reflect in that party gstr 2A ,after that i had made an amendment in sep 18 by correcting the party name.

But the earlier party calling me that the sell voucher is showing in his gstr 2A and has not been omitted. He does not believed that i have amended.

So what is the possibilities left to do?

Plz let me know ...if a person income is INR 180000 per annum but he made a transaction of 380000 per annum through Bank (EMI payment of loan taken in his name on behalf of others) whether tax is payable under income tax act 1961