We are registered dealer in GST, this month (July,21) we have purchasing some goods from Interstate registered dealer through Interstate Transporter, who (transporter) raised a Invoice for Rs. 34500.00 with out charging any GST . Now our question is
1) We will pay IGST under Reverse Charge Basis
2) If Transporter give us Declaration for Non- deduction of Tax at Source (TDS) under Section 194 C (6) of the Income tax Act, 1961with his Pan Copy, then is this case can we deducted TDS because new rule 206 AB start on 01/07/2021, if yeas then which rate will applicable.

Dear experts,

My father retired in February 2021 but unfortunately he passed away due to COVID 19 in April 2021. My father has a NPS corporate account in which he deposited his superannuation funds as well. The nominees are my mother, myself and my younger sister. My father had not started any annuity. After going through his emails I found out that my father had requested for continuation of his nps account and intimated about the NPS deferment request which was accepted. The nominees of the Nps account are my mother, myself and my younger sister. I have two queries in this regard

1. Can the nominees withdraw 100 % of the corpus or is it mandatory to purchase annuity?

2. If the nominees withdraw 100% of the corpus, would it be taxable.

I would be highly thankful for solving this query

Suppose someone has generated the invoice with the value of Rs 49500.but they have forget to charge Rs 1000 as TCs. If he would have charged then the invoice value would be Rs 50500 and he has to raise eway bill for that .but now he has not raised eway bill bcoz limit is below rs 50 k .now what need to do ?

Hello Sir/Madam, Kindly Enlighten me on this Topic E-invoicing. Who are all to get registered under the Invoice Registration portal? Is it Mandatory to use ERP software ? Will it be similar to GSTR 9C filings? Whats the role of GST suvidha provider? Thanks in advance.

hello everyone i have some equity purchased so questions regard that.

what is the limit to buy equity out of india?

if i make profit in selling and then I make loss of same amount within same accounting year over other equity then do i have to pay tax over that first profit or that loss will minus that profit?

is there any other taxes other than income tax on out of india equity purchase?

what is the tax free limit of profit from equity from india or out of india?

i run proprietorship business. help is needed

Sir / Mam

We are GTA . We are paying for bio- diesel on behalf of sub-contractors and adjusting it against their payments and not for own use.

How ever, the supplier of bio-diesel issues invoices in our name.
In our software, the daily consumption can only be accounted from supplier to sub-contractor.
We can see only the outstanding liability to supplier and the payments to be adjusted from sub-contractors.

As we are not eligible for availing gst inputs, We are not accounting the stock and not showing the expenses in books but We are accounting the supplier as creditor.

Kindly advise us whether this system of accounts is correct or not.

Thanks in adv

Paid Rs. 1 Lakh advance against Supply & Installation Works, as per PI Rs. 100000 to be paid for supply and 15000 for Installation

Is TDS to be deducted on the same, this could be the first and last transaction with vendor

Respected Sir,
I have to apply for GST Refund for the financial year 2019-20. Application shall be filed yearly or shall be filed quarterly. Please let me know the method of filing. The whole financial year is totally NIL filing because there is NIL sale during the whole financial year 2019-20.

I have a query regarding the calculation of gross taxable income in India and mentioning of foreign income in schedule FA for FY 2020-21.
FY India -1st April 2020 to 31st March 2021
Accounting period of US-1st January 2020 to 31st Dec 2020, so
1. Foreign income for a period from 1st April 2020 to 31st March 2021 is to be considered for computing gross taxable income and tax liability for FY 20-21 in India.
2. But, while mentioning the foreign income under schedule FOREIGN ASSETS, I have to mention my foreign income for a period from1st January 2020 to 31st Dec 2020 i.e. accounting period of US, even though I mentioned foreign income for a period of 1st Jan-31st March 2021 for calculating tax liability in India for FY 20-21.
3. And, in case of foreign income for a period from 1st Jan-31st March 2021, I have to mention it under schedule FA for FY 21- 22 in India.
Is this correct?

please explain the applicability of sec 194Q in case of newly started business during the FY 2021-22 and the turnover exceeds 10 cr and purchase from a single person is more than 50 lakhs.