What is tax implications if composition dealer purchase from URD since sec 9(4) which is for RCM for purchase from urd is not applicable to composite dealer

Dear Sir

How to calculate income from pension as per form no 16? for senior citizen?

Sir I am manufacturing furniture and sale with in punjab. and my sale in 2016- 17 of rs. 40 and and now I have closing stock of rs.15 lac now I am want to opt composition scheme. can I opt composition scheme if yes than status of closing stock tax

Dear Sir,
Please tell me GST rate on services provided by RWA to its own members above Rs. 5000/- pm.

please do the needful.

dear sir/madam, More of the small retail business are have exempted goods like Rice, ayta and other food items, then how they can opt for composition?

As per provisio to 140(3) of the transitional provisions, only a trader is eligible to opt for this scheme.
In case of a 2 wheeler dealer say Honda motor vehicle dealer, he is also a service provider as he does servicing of vehicles. Can he opt for the scheme as he doesnt have excise invoice for spares, and claim full credit in case of vehicles where he has excise invoices.

As per provisio to 140(3) a trader can claim the credit at the rate of 40%/60% of the CGST paid on the stock lying on the appointed day subject to that it was not unconditionally exempt under Excise.
A trader who deals in various goods of which few were exempt under excise and few were taxable.
Now can the trader opt for the 40%/60% scheme in respect of goods which were not exempt under excise or does the rule means all the goods which the trader deals should satisfy the condition of not being unconditionally exempt.

SIR,

Suppose,
a woman has received and saved with herself around Rs. 48,000 cash during last 15 years, from some small home based works.
And this amount also includes the amounts received by her from her parents and other elder family members as a small gift amounts (-like shagun and neg, etc.) on festivals and other social occassions .

This amount was saved with herself, in old 500 and 1000 denomination notes in CASH.

But, due to demonetization in November-2016, she had to deposit this savings amount in bank account, because if she would have not deposited in bank, then her money would have been invalid and of no any use.

Now, when she has deposited this cash amount in her bank account, during NOV. to DEC.-2016,

Que.1: Will this amount be treated as her INCOME , of FY 2016-17 ?
- If Yes, then - which type of Income is this?

Que.2: Will she have to show this amount, in her Income Tax Return of F.Y. 2016-17, as income ?
- If Yes, then where to show it in Return ? - Under which head ?
- And what to mention, with this amount ?

Que.3: What , if she does not show this amount in her I.Tax Return ?
Will she have to face any problem due to this ?

Because, as per her own opinion,
This amount is not received in FY 2016-17. It is received during last 15 years, before FY 2016-17.
The amount which she deposited in bank in FY 2016-17, is not income of FY 2016-17, but it is her savings of last 15 years.
And her income has never gone beyond the exemption limit in any of the past years.
She is a house wife always and she has no any other income except this.



PLEASE, SHARE YOUR EXPERT OPINIONS.
Thanks.

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