Rakesh Sharma

Respected Experts,

We are manufacturer Prop. concern and started business in f.y. 2021-22 with turnover around 15.50 Lacs. But in f.y. 2022-23, we have achieved a turnover around 2.54 Cr. Also we get done Job work from a vendor around 1.50 Lacs in F.Y. 2022-23. Should we deduct Tax on Job Work charges or we are exempt to deduct tax as our previous year turnover is below Tax Audit.

Kindly advise.


D SONAWANE
23 May 2023 at 16:42

GST ON JOINT DEVELOPMENT AGREEMENT

My Client has executed a development agreement on 15.10.2021.Total Project Consist of 15 residential units. Out of the same 9 units are given to Developer and 6 Units are given to Landlord. All units are identical in all aspects. Developer has sold 7 units and Landlord has sold 2 units. Total 9 units have been sold before completion and 6 Units remained unsold. Total cost of construction as incurred by the developer is 1,50,00,000/- (1.5 Crore). Per flat construction cost is 10 Lakhs.

Selling price of the 1st Agreement nearest to JDA is 20 Lakhs

Unit 1 and 2 Sold for 20 Lakhs, Unit 3,4,5,6,7,8,9 sold for 25 Lakhs (Unit No 7 and 8 are of Landlord)

Selling Price of 9th Unit nearest to completion Date is 25 Lakhs

Please give me GST Payable amount under RCM on unbooked Flats ?

Please give me GST Payable amount on construction service provided to Landowner

GST Payable by developer on his sales ?


Bargath
22 May 2023 at 17:35

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Manpower service received by the Ministry of Health located in Tamilnadu, from two persons located one in Tamilnadu and another one in Maharashtra. End of Month each persons raised a service invoice value of Rs.60000 each for the supply. Is this transaction is liable for TDS under GST?


Amit Singhi
22 May 2023 at 16:31

Extinguishment of delisted shares

Hello I had shares of kwality Ltd, a company that got delisted, the shares of the company were extinguished from my account without my consent and without me getting any extinguishment/buyback compensation for the same. Is it normal

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DIVYESH JAIN

Dear Sir,

One of my client is an Indian Resident earning Salary Income in Kuwait and is an NRI for F.Y. 2022-23. Under which head can I show his salary income and how will be the tax treatment while filing his Income Tax Return.

Please help me in this matter.

Regards,
Divyesh Jain





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