Dear sir,
We have Following inputs of GST :-
CGST 744
SGST 744

And output liability is :-
CGST 442
SGST 442
IGST 517

So adjustment as per me is :-
Input CGST 744
Less output CGST 442
Balance CGST left 302

Same treatment will be done even in SGST Hence balance SGST will also be left 302,

Now output IGST 517
Less output CGST 302
Less output SGST 215

Therefore CGST ITC become Nil and SGST ITC 87 shall be C/F,

Pls let me know whether above computation is correct if not pls do the correct computation & let me know the same?

Thanks In Advance
Rajeev Kumar

Hello everyone,

My name is ramya,seeking for help on behalf of my husband.He is a design engineer. He works for an Indian transportation company.Based on short-term project he went to France and getting some additional component with salary from India but huge amount is deducted as tax.we need experts opinion on tax saving and Is there a way to reimburse the money deducted as tax ?
Please help.

Dear All,

I would like to know what is the rule for claiming ITC on Capital Goods. Will the total amount of ITC on capital goods be claimed in one go or in installments?

Regards

Shoeb

Dear Sir/ Madam
I have started a partnership firm with two partners and deed is made on 12 july 2017. Gst registration number is received on 4th Sept 2017. from July 12 to Sept 4 , No business is done. Date of Incorporation , mentioned in Gst Registration is 12 July 2017. Should I file return for July and Aug 2017?

Dear Experts
Chartered Accountant is not registered in GST as per the GST Act.My query is:-
Applicability of RCM
1.He charges Audit fees : (a) RS.6000/- (b) Rs.4500/-
Please give your expert opinion.
Regards

HI,

we(PVT LTD CO) wanted get registered for EPF only. someone as said that to getting EPF code we need to apply first ESIC code . Is it reai or we can apply for EPF with out ESIC Code.

what is the procedure and docuements required for getting EPF no and what is the salary limit for that.

Dear Experts,
We are proprietary concern firm in FY our turnover is 22 Lacs However NP is below 8% also the income is not chargeable to tax i.e. below 2.5 Lacs,
Pls let me whether tax audit will be applicable or not

Thanks
Rohit

Dear Sir

I have paid my advance tax Rs .12000/-
Now please suggest how to make entry in tally

I have done advance tax Debite and bank Credit

Now guide for next

Sir/ Madam,

We have customer in Bhutan / Nepal & we have to bill in INR, we are confused that we need to charge IGST, but as per GST act we have “zero rated supplies” where in we can declare the sale value under this categories, since this is export services.

Please Suggest

Thanks in advance,

Dear Sir/Madam

In an accounting system, Damaged goods/ promo goods/ personal use( Company ) goods are shown as separate accounts.

An automated entry in the system is coming as follows :
Damaged / Promo/Personal Use Goods A/c Dr 100
To Inventory Account A/c Cr 100

Due to this, in Cost of sales there is difference of the 100.


Can you guys please explain , how to treat damaged goods/promo goods ?


Any further clarification , please comment