GST had been paid on long term lease of land on RCM basis. Later the deal got cancelled. 75% of lease premium paid at the time of lease agreement has been refunded back. The Lessor has filed a credit note in GST return which is showing under Credit note section in GSTR 3B and in Reverse charge- Credit Notes in GSTR 2B. If I reverse the amount of credit note at the time filing GSTR 3B, the balance in the Electronic Credit Ledger will get reduced by the credit note amount. What will happen to this amount, will it be refunded or transferred to the electronic cash ledger?

If the Goods supplied to unregistered person in Haryana at his address , By a registered person in Delhi
Now question is that whether what is place of supply and what component of GST should be charged as a GST.

Hi ,

We have received a One GST Invoice from our supplier's, invoice dated 20.02.2020.

We don't have eligible to claim the Last year's GST Amount now. So, shall we book the same invoice value ( including GST Amount ) to be total Expenses in Last Yearbooks?

Please Advise us for an accounting of the same.

regards,
Naresh

(1) IS IT NECCESARY TO KEEP STOCKWISE ACCOUNTING FOR RETAIL SHOPKEEPER HAVING VARIOUS SMALL CATEGORY STOCK???
(2) IS ACCOUNTING WITHOUT CREATING STOCK POSSIBLE IN THIS KIND OF BUSINESS ????
(3) HOW CAN I VALUE CLOSING STOCK AT THE YEAR END IN WITHOUT STOCK ACCOUTING???

Hi Please tell anybody this doubt

My client was filed income tax return u/s 44AD for AY 2018-2019 & AY 2019-2020.

Now for AY 2020-2021 I want to file regular return without tax audit (i.e. not u/s 44ad) and i will show the profit more than 44ad calculation (i.e. more than 6% for other than cash sales and more than 8% for cash sales ) now i am declared the profit according to sec 44ad(1) in regular return.

is this eligible? correct or not?

I opt from 44ad before 5th year but i show the profit according to sec44ad(1) in the present year.

Please answer to this...

Hi,

I am going to incorporate my new Pune based private limited company.
I am having a hard time on a query I have.
So the query is:

Can I use GROUP in my company name, for example, ABC Group Pvt Ltd.?

Please guide.

TDS late Fees and Interest and ROC Fees for Increase of Capital are disallowed under which section of income tax?
Also help me for reporting in Tax audit Report?

If a seller insists that he will give a B2C GST invoice and not B2B, meaning he will not mention my GST number on the invoice, can I take any action against it?

Dear All,

A Public Ltd company having an exposure of 100+ Crs Bank loan exposure, has about 35 crs unsecured loans from Directors. As per the sanction terms, Banks has restricted repayment of Unsecured Loans during the currency of the Term Loan.

The company has opened a current account (Joint) in the names of two directors and one employee with a bank which is outside the consortium (without the knowledge of Bankers) and started depositing daily cash collections into that account and made repayment of Unsecured Loans to a tune of 5+Crs. Incidentally it was founds that the company is also not paying EMI since March 2020 and thereafter as the moratorium is extended.

Is the above act legally valid? Do banks have any recourse to the above stated facts? Can this act be construed as Diversion or Embezzlement of funds?

Kindly advise we have made one Export Inv Amendment related to 2018-19 while entering date 28-02-2019 mentioned as 28-02-2018 and it accepts and it gone for 2017-18 transaction.

How do in this case