Dear Expert,

I run a company named ABC India Pvt. Ltd. We regularly engage in international trade (imports and exports of goods and services) with entities in Europe and Russia.

Could you please explain the applicable GST, TDS (Income Tax), RBI/EDPMS compliance rules, and Standard Accounting Entries—based on the latest circulars and provisions—using practical numerical examples for the following post-sale discount scenarios?

Scenario 1: Post-Sale Discount Received on Imports
When our company imports goods or services from a foreign supplier in Europe, and subsequently receives a post-sale discount/credit note after importation:

GST Provisions: How does a post-sale discount affect Customs Duty and IGST paid at the port of import? Is there any requirement to reverse Input Tax Credit (ITC) claimed on the Bill of Entry (BOE)? For import of services, how is RCM IGST adjusted under Section 34 of the CGST Act?

TDS Provisions: What are the Income Tax (Section 195) and Form 15CA/15CB implications when settling the reduced invoice amount?

Accounting & Compliance: What are the step-by-step journal entries for booking the import, recording the discount credit note, and making the final foreign payment?

Scenario 2: Post-Sale Discount Allowed on Exports
When our company exports goods or services to foreign buyers, and grants a post-sale discount/price reduction after container dispatch and Shipping Bill generation:

GST Provisions: How should GST Credit Notes issued under Section 34 be reported in GSTR-1 and GSTR-3B for exports under LUT (Zero-Rated) versus exports with payment of tax (refund claims)?

RBI & Banking Compliance (EDPMS/eBRC): What are the RBI/FEMA rules regarding AD Bank approval limits for export bill reductions/write-offs to successfully close EDPMS entries and receive an eBRC?

TDS & Accounting Provisions: Does granting a post-sale discount to an overseas buyer attract any TDS implications? What are the practical journal entries for recording the initial export sale, issuing the credit note, and realizing the net inward foreign remittance?

I have applied for rectification reprocessing of return on 24th April 26 For AY 2025-26 current status showing underprocessing from 16 sep 26 even after 6 months rectification order not received
1. What are last date to release order.
2 if suppose rectification get order on which rectification is applied remains valid or not Regards

Dear Expert,

I am running a business named ABC India Pvt. Ltd. We engage in both import and export transactions, utilizing the services of both Indian (resident) and European (non-resident) commission agents/professional service providers.

Could you please explain the applicable GST and TDS (Income Tax) provisions—along with standard Accounting Entries and Tax Payment Due Dates based on the latest notifications and circulars—using a real-time numerical example for the following scenarios?

Scenario 1: Import Transactions
When importing goods from Europe and Russia:

Indian Commission Agent / Professional: What GST (RCM vs. Forward Charge, any other tax, ITC eligibility) and TDS under the Income Tax Act (e.g., Section 194H/194J, any other section) apply when paying commission/service fees to an Indian agent?

European Commission Agent / Professional: What are the Reverse Charge Mechanism (RCM) GST implications (Import of Services, OIDAR/Intermediary rules) and TDS obligations under Section 195 (including DTAA benefits and Form 15CA/15CB requirements) when paying commission/service fees to a foreign agent located in Europe?

Scenario 2: Export Transactions
When exporting goods to international markets:

Indian Commission Agent: What are the GST (Taxability, Place of Supply rules, claiming ITC or refund) and TDS implications for commission paid to a resident agent assisting in exports?

European Commission Agent: What are the GST (Applicability of RCM on foreign intermediary services) and TDS (Taxability of foreign agent commission for services rendered outside India under Section 195 read with Circulars) implications when paying an overseas commission agent for export orders?

Query Regarding Capital Gain Exemption on Sale of Commercial Property and Investment in Construction on Spouse's Property
Facts :-
1. There is a commercial property held in the name of an Individual Assessee. The land / property was owned by the individual in his personal capacity. Construction on the said commercial property was carried out and funded by a Partnership Firm, in which the said individual is a Partner. During F.Y. 2025-26, the said commercial property along with construction has been sold for a consideration of Rs. 2.90 Crores. After the sale of the said commercial property, the assessee has constructed a residential house on another residential plot which is held in the name of his spouse. Almost the entire sale consideration has been contributed / invested by the assessee towards the said residential house construction.
Question for Opinion:
A. Whether the cost of construction incurred by the Partnership Firm on the commercial property owned by the individual assessee can be claimed as Cost of Improvement / Cost of Acquisition while computing Capital Gain
B. Whether the assessee can claim exemption from Capital Gains on sale of commercial property by investing the sale proceeds in construction of a residential house on a property owned by his spouse?
C. What will be the overall Capital Gain tax implications in this case and what is the best possible way to claim exemption / minimize tax liability under any on the provisions and case laws i.e. supreme court judgement , High Court judgement etc.
Kindly opine.

Dear Sir,

It can be possible to Import of Machine, Freight & Insurance can be capitalize instead of Expense out.

Please, advice.

A person who is a indian citizen and resident in india wants to gift of money Rs.1000000 and his wife wants to gift Rs.1500000 to their daughter resides in usa (who is a citizen of india and a non-resident indian )during December 2026. Procedure to be followed as per income tax act ?

My father has expired recently. One house is registered in his name. It is given on rent. Now renewal of rent agreement is due. Who can sign renewal rent agreement? Please guide process.

ito added all credit side in bank a/c. of individual assessee and asked to file 148 return.
we replied please consider debit side and credit side is not all income.
but ito now says, please reply when faceless notice comes.
so matter lying pending since 1 year
148 has to be completed till 2027 march.

my q - > cant we compell ito to complete 148 assessmennt face to face as faceless taking time to assign an ito?
case law--> also why department blindly adds credit side of bank statement without considering explanations to each credit? any judgement /new update for this bank statement credit side adding by ito blindly?

Our sister concern employee doing our work & we are reimbursing their travelling, lodging expenses.
Our & sister concern gst registration & entity is different, but group is same.
Can gst RCM liable for man power suppy ( Employee secondment ) service.

While validating the TDS statement in Form 144 Q2, error codes are coming T-FV-4340 to T-FV 4343 relating to dedcutee details (email ID, Contact No. Address & TIN) , Message says these fields should not be provided for the relevant nature of remittance. But IT act did not said this.
how to resolve these query.