Hello,

I recently started a Web Hosting business and looking forward to registering my proprietorship firm with a new GST number. Before that, I have a few doubts regarding the import & Export of services (as my business involves me importing & exporting hosting services to international customers/companies). I found a lot of guides on the same online but I have a few specific doubts whose answers I am unable to get on the net.

1. I have to import services like renting servers from an International data center monthly. As per the law in GST, All international companies dealing with Indian customers have to file IGST in the case of the registered customer. Okay! I talked to my data center billing team and they say, they are not interested in filing GST nor they are governed by Indian laws, use our services on your own. How do I claim input credit in such a case? What to do in such a case?

2. In the case of export of services, I have many international customers whose invoices are generated in USD or other international currencies and make payments through gateways like Paypal, stripe, etc. The customer makes payment in USD to PayPal and the payouts are converted & settled in INR to an Indian bank account. Now, as per the law for claiming zero-rated support or claiming the transaction as an import of services, the currency of the payment should be in international currency. In my scenario the payment was collected in USD and settled in INR, does this count as Import of service?

3. There are times when customers file a chargeback for payments made even after 1 year. I would have filed the GST till then, how would I deal with such situations?

4. Can an individual/ proprietor register under Letter of Understanding if he deals with the import/ export of OIDAR services?

5. My turnover is less than 20L is it mandatory for me to register for GST?

6. RCM in my case for import of services involves me generating a self invoice. Is it true? If
yes, what is the standard format for generating such invoices when payments happen
in dollars?
These are some doubts I have whose answers I am looking forward to!

Thanks in advance!

Retention Bonus paid to employee in the financial year 2020-21 and recovered back from full & final settlement in financial year 2021-22 as the condition of not leaving the company for one year was not met. Can the amount recovered back be claimed as deduction by employee!
Request for an advice in terms of the position under Income Tax Act!

Dear Sir,

In May month 2B reflect some access ITC Rs.2250 ITC as per 2B Rs.12250 I have claimed Rs.10000 Goods ITC in 3B please suggest can I do anything for Rs.2250.

Sir,
One of the cloth business person sales and purchases transaction amounts receipts and payments through on UPI mode receipts rs:25 lacs and payments rs:15 lacs one financial year savings bank and current account bank in f.y.21-22.
Question:
UPI mode receipts and payments transactions limit one financial year under it act for saving bank and current account.
2.a person it returns filed compulsory in f.y.21-22.

Hi All,

Did anyone file ITR2 via zerodha quicko. it is giving below error when I click on E-file option:

[{"error_code":"Digest_Invalid","message":"Modification to ITR details outside Utility is not allowed."}]

Kindly let me know if there is any workaround for this.

Hi Friends,

One of our client got an offer to sell their stake around 25% for 100 crore to the outside investor. following are my queries;

1) How to arrive the FMV? Date should be current date or 31/01/2018?
2) Long term capital gain tax at 10% without indexation?
3) Can we claim the full tax exemption us 54F ?
4) is their any other Investment option to the seller so that he can save capital gain tax to maximum extent?

Dear Sir/Madam

Sir I have foll.question regarding sell of shop kept as investment since last 5 years or more-

I was earn monthly rent of my own shop and I was showed in my tax return.
I was buy this shop of Rs.8,lacs (as per sales deed, actually I was paid in total of Rs.12 lacs at that time) now today I have plan to sell this shop and its market value around 20 lacs.
I have foll. Question-
 Capital gain tax applicable on sell of shop in this year??
 How much cost of purchase i.e Rs. 8 lacs or Rs.12 lacs??
 I will have to plan to make sale deed for sell of this shop around Rs.15 lacs and remaining balance amount of Rs. 5 lacs will pay in cash by new buyer, is it possible?
 I have to make sales deed full amount of shop i.e Rs.20 lacs?
 What is sales consideration for me i.e Rs. 20 lacs or Rs.15 lacs??
 Legal expenses incurred during buy and sell of shop is eligible as expense while calculation capital gain tax??
 What is the Capital Gain Tax Rate for fy-2022-23??



Request to give answer of my all doubt at earliest

Dear Sir/Madam

We(Partnership Firm) are in construction business in 2008 and have sold scrap arising from such construction activities.We are not VAT registered dealers.But COmmercial Tax dept raised the notice that the same has to be disclose as Sales of Goods and needs to pay VAT to the Govt.

Our Contention is that the same is not goods and has sold scrap which is not goods.

Please help us.
Please feel free to contact for any information/clarification

Ph No:9494361883

Dear Sir,

We are into works contractor for govt departments. Once we submit the invoice to the department it may take a long time to receive payment. so we are uploading invoices to the GST site once we received payment from the department.
now the thing is, from this month on-wards GST rate is changed from 12% to 18%. we submitted invoices for 12% to the department. but we are going to upload invoices to the GST site in the future once we received payment from the department. now how to adjust that differences because it is difficult to bear 6% from hand. The government will not pay 18%. it only pays as per the bill.

Please anyone can guide me how to rectify this?

Dear sir
Suppose Goods send from Mumbai to bishanpur. But transport booking is Kisangani. Distance from kishanganj to bushanpur is 38 km.

Officers want eway bill from Kisangani to bishanpur .
Practical not possible. Any relief please guide