We have few questions of the Documentarty Credit and UCP guidelines

1. Can we challenge the discrepancies raised by issuing bank under Letter of Credit, especially related to invoice descriptions, if yes, how to challenge and how to prove that discrepancy raised is wrong.

2. WHen we submitted the documents to our bank and our bank shared the POD of documents sent to issuing bank, but our customer is saying that the issuing bank has not received the documents. Is there any way we can prove the claim of non receipt of documents

3.When the seller receives the discrepancy / refusal advice is it mandatory to respond to the refusal advice? If he does nothing or does not act upon the refusal intimation, then what issuing bank will do? If seller has to respond, what should he respond.

4.In case of discrepancy, if the buyer does not respond to issuing bank about what to do about the discrepant document, what issuing bank will do? Will they keep the documents in their custody, if yes, for how many days they can do so, if not, do they have to return the documents to negotiating bank or the seller directly.

I have taken credit reflected in AUg 2023 2B in Sep 2023 3B so notice received. My question is by clicking reason on the portal is it mandatory to attach reply on letter head of the company by making proper reconcilation of 2B with 3B ?

Sir/Madam
I have one query regarding accounting entry of Sales Bill and Purchase Book. Company maintains books of account in multiple currency i.e INR, USD, Euro etc.

Company charged IGST tax on Sales to Foreign Customer and this IGST not to be paid by Customer because company has to pay IGST Tax. Company passes Journal entry for removing/adjust Forex gain or loss by debiting in INR currency and crediting Foreign Currency!!!
My question is that can it is correct accounting entry debiting in INR and Crediting in Foreign currency?? After passing above entry Forex gain or loss adjusted in Customer Account. thanks



Sir, Please let me clarify about tax refund release in our bank account if adhar card and pan card not linked ?? Tax Return is filed within due date and ITR V was sent at Bangalore office. Return is assessed and tax refund due to assessee. thanks in advance

Respected Sir
Please clarify whether a loan taken by a Society from a bank to be registered with Registrar of Societies
Thanks in advance

Hi Experts,
One of my friend has filled ITR - 2 as he is a Partner in a Partnership Firm and he has Income from Partnership Firm (Profit). Along with above income, he has Salary Income from another company.
At the time of filling ITR-2, he showed only Salary Income and by mistake forgot to submit detail of Income from Partnership Firm.

Please guide, how to rectify the same.

Sir,
A Doctor maintained a private hospital health services provided to patients and different doctors working in hospital.
Consultation charges
Cross consulting
Asst: Doctor charges
Pharmacy charges
Investigation charges
Surgeries
OT consumables
Question:
Assessess above mentioned services charges show procedure in account records.

how to write the letter to pf office regarding employer stating the reason for non payment of eps share

Hi Experts,
Please share your opinion for below mentioned points,

What is the meaning of Non Subsumed dealers?
Is it applicable to high speed diesel seller ?
Is there any penalty / fees for late filling for the same?

Thanks and regards,

Hello, ITR filed on 28.10.23, e-verified on 01.11.2023. But acknowledgement shows Invalid due to Non Verification. What to do in this situation, Experts opinions are sought. Thanks

Sir,
Please let me clarify about tax refund release in our bank account if adhar card and pan card not linked ??

Tax Return is filed within due date and ITR V was sent at Bangalore office. Return is assessed and tax refund due to assessee.

thanks in advance