sir
i bought a machine exclusive for my business and my all supplies is taxable under gst. i have doubt regarding to my input tax credit paid for my machine which is 100% using in my business.
i want whole credit in my electronic ledger. please tell is it possible or it will be claimed 5% per quarter.

DEAR SIR,

I HAVE OPEN MY SHARE TRADING ACCOUNT WITH IIFL AND NOW HOW CAN I SHOW THIS IN MY INCOME TAX
MY HRA ASKING ME TO GIVE DETAIL OF ALL INEVTMENT SO THAT AS PER THIS THEY CUT TAX FROM MY SALARY
HOW WE GET LOSS AND PROFIT OF THIS ACCOUNTS AND HOW WE SHOW IN ITR

K GARG

Dear Sir, My friend who gets Rent from Immovable property & Commission on Real estate transactions is registered under GST. He has filed 3B for July, August & September, 17. He has tried filing GSTR1- Invoice Details but stuck. He does not know where to fill the Invoice details of Registered persons since only DEEMED EXPORTS MENU IS OPEN.
2. Under GSTR1- Other details B2C, which columns are to be filled if the service receiver is a Unregistered person.
And what is TABLE 5 mentioned under the above head.
Please guide him.
Thanks & Regards

IN GSTR-2 where to show en eligible input services received under RCM .if not eligible for input credit.
Input Tax Credit Reversal / Reclaim - Add under which head.

We have rented car on Kilometer basis i.e cost of fuel and driver provided by supplier, who is liable and rate of gst.

Today i have received an email notice from CTO stated file july and august return immediately but the status of gstn is composition scheme from july to sep 2017 and opt out from composition scheme on oct 2

Dear Expert Please let me know how to withdraw the PF and what kind of documents / forms to be submit to the employer.

Good Day!!

My query is in relation to Valuation of Inventory as per ICDS 2.

Example:
I am following Exclusive method of accounting

Current Year Data :
State Tax assumed to be at 10%

Opening Stock [1000 unit] - 50,000 + Tax on it - 5,000
Purchases [2000 unit] - 1,00,000 + Tax on it 10,000
Sales with 20 % Margin on Cost price [1500 unit] - 90,000 + Tax on it 9,000
Closing Stock [1500 unit] valued @ Cost - 75,000 + Tax on it 7,500

Gross Profit excluding taxes - 15,000

No Opening ITC available as per books of accounts

Now referring to Section 145 A and ICDS 2, I need to Compute my profit by valuing my purchase, sales and Inventory including taxes, Also ICDS 2 says that "NO CHANGE IN VALUATION NEEDED IN OPENING STOCK"

So considering example mentioned above and giving effect to ICDS

GP - 15,000
Add:
Tax on Sales - 9,000
Tax on Closing Stk - 7,500

Less:
Tax on Purchases - 10,000

Total profit chargable 2Tax 21,500

As per Institute guidance on Income Tax audit - Referring Para 23.23 - The tax on revenue will be neutral.

Can any body guide me on it and whether I had rightly calculated the profit as per ICDS 2 requirement


Thanks in Advance

We wanted to take a new GST Registration for our Kolkata Office. As an when we are going to Verification Tab and Submit with Authorized Signatory details along with DSC the Error "System Error Ocurred" is showing. We have already installed latest version of emSigner, using latest version of Google Chrome and also configure our browser settings as per emSigner requirement.

Please advise

As we know Late fees is waived but what about the Late Fees we already paid? In my case late fees for aug and sept is 3400 CGST 3400 SGST. and now there is liability arising in July for GST Tax CGST 2940 SGST 2940 (Due to incorrect GSTR 1). Govt said that late fees will be converted in TAX.
Can i offset my Tax liability through Late Fees. If yes then when this facility will made available.