Respected Experts,

I am an Accountant. I would like to learn about month end close of company accounts. I know the procedures theoretically well, but in practice, I do not know. Please, any one of experts can explain with an example data or if you have any old data in excel format please share with me. My mail Id: rajsubbu_seeni@yahoo.com. Thanks.

IS GST APPLICABLE ON THIS ENTRY
AUDIT FEES A/C--------DR
TO PROVISION FOR AUDIT FEES

IS college tution fee (BBA 2nd sem) of Rs.2.30 lacs paid for a major (19years) daughter available for exemption u/s 80C ??

Dear Sir,

If we have raised Debit Note agnst Purchase rejection to customer . Afr receiving rejected material our customer raised credit for for the same & send copy to us.
Is it necessary to take entry of credit note received agnst our purchase rejection, in our books of A/cs.
Kindly advice.
Tnks.

Hello All,
I have a query related claiming Home Loan interest in ITR.

I m claiming my HL Interest since last 2 years in my ITR the house which i m using for SOP. In sept-17 i bought a new house which is also having home loan and also using for SOP.
so can i take both home loan interest part in my ITR as interest deduction ?????

Please suggest which HL interest should i take???

Thanks
Aparna

Dear Fellow!
I maintain accounts of 2-3 clients in which we were charging ST on rental income. By the end of the year, we realized that the total value of supply is Less than 20 Laks in all three accounts (individually). In the current year, the amount will be more or less same.
Can from 1st April I choose not to charge GST?
if yes, What other factors should be also be considered?

If I issue check for my lic premium on 31.03.2018 (F.Y.2017-18) and my cheque got cleared on 08.04.2018(F.Y.2018-19) then I can claim deduction in f.y.2017-18 that is on payment basis only.
Is this the right way?

Dear Sir,
We have done a mistake in filing GSTR-3B . We have by mistake shown ITC on Reverse Charge for the month of December '17 in december GSTR-3B and also in January'18 GSTR-3B but it is to be noted that the mistke is done in return but we have utlisiled ITC on reverse charge in Jan'18 only . We have not used the ITC twice . As a result our credit ledger showing extra ITC on portal .
My queation is that can we show that ITC shown twice as reversal in GSTR-3B return only for March'17 but will pay the actual gst for the month . It will reduce the extra credit reflecting in credit ledger on portal.
PLs advise

please share HSN Code on Bujia, Papad, Revadi, Mungfali and rate of GST

We want to start up Pen (Ball Pen, Refl, Ink) Manufacturing Business. now we want to know HSN Code and rate of GST