Our company turnover is more than 100cr in previous year in both Taxable goods & exempted simaltaniously.
Now the GST deptt have asked to generate E invoice in exempted catagory manadatorily , otherwise impose a hefty penalty .
We have yet find the option in Tally prime (4.0) to generate the same and the tally company unable to find solutions.
I have asking for guidence to resolve this issues asap.

Section 43B(h) provides for disallowance of the sum payable to SME if not paid within the prescribed time. My queries are as follows:

1. Will the supplier be an SME as defined under the MSME Act but not having Udyog Aadhaar will be covered by section 43B(h)?

2. If an SME supplier asks the buyer to inform if it is registered under the MSME Act and the supplier although registered replies that he is not registered as MSME. Will payments to such suppliers would be out of the purview of the provision?

3. If any part of the due is retained by the recipient of supply in terms of the contract as retention money or security deposit would that amount be out of the purview of section 43B(h). Whether there would be any restriction in deducting the security deposit or retention money?

4. Can the payment to SME be converted into a loan with the express consent of the supplier to come out of the purview of s. 43B(h ).

Please guide. hanks

Hello Experts !!
one of my client have 4 trucks and he is providing service of goods transportation and he is not register in GST till date .
Now he wants to start another business of trading for which he will have need of a truck for supplying the trading goods. so he is will buy another truck for the trading work activity.
he will be liable for GST registration and he will buy that new truck and will take ITC of GST as capital goods .

now we have 2 businesses with single GST registration and we will operate those businesses under GST as per below :

1. GTA Business : Under RCM
2. Trading Business : Under FCM (we will take whole ITC of new truck as per rule 43 and reverse the monthly ITC in the proportionate of supply (sales) under RCM (exempt ) and FCM.

Please suggest me ,is this practice good or as per GST provisions ?
If any problem will occur in near future , than please let me know.

i need someone to share a Body of individual deed draft.

Dear Sir,
I have created Insurance under deposits as it give a return without any fluctuation, but my friend is arguing that it will come under investment.
I have a major confusion regarding Insurance, that whether it comes under deposits or investments.
Kindly clear my doubt.

Good Day.
When a company buyback the unlisted shares, is it required to deduct any tds from the amount payable ?
I understand company has to pay tds for buyback but not clear if company is required to deduct any tds while paying to shareholders of such unlisted shares .
Please help with the correct position in this regard.
Thanks

DEAR EXPERTS WHEN I AM UPLOADING JSON FILE TO GSTR1 OFFLINE TOOL THE GST PORTAL SHOWS "ERROR OCCURED" - WHAT THE SOLUTION . EVENTHOUGH DOWLOADING LATEST VERSION OF GST OFFLINE TOOL AGAIN AGAIN FACE THIS ISSUE.

Sir please advise if accrued interest on Home loan can be claimed for deduction. The intrest is accrued during moratorium and actually not paid.

Respected Sir,
My client is a senior citizen as per income tax act. He has received the amount form PNB on maturity of policy named PNB Met life policy.
So I want to know that the amount received by him will be taxable or not.
He chose new tax regime

1.Indian company issued work order to foreign company in INR
2. They have a 55% subsidiary company in India
3. If the order value is Rs.100/- , the subsidiary co. in India will raise bill of Rs.80/- and foreign company will also raise invoice in INR for Rs.20/-
4.The remittance of Rs.20/-will be in foreign currency and directly payable to foreign company
My question are:
a) The invoice raised by foreign company in INR for Rs.20/- is valid or not.
b) Is this can be treated as Import of Service
c) Is IGST payable on RCM on import of services?