satish m khairmode
15 June 2021 at 17:01

Good loss by flood

Respt Sir


In a godown trading stock worth Rs 100 loss by flood . Insurance co. has calculated salvage value worth Rs 22 and paid to us .
The damaged stock at godown which are likely to be auctioned in open market by insurance co. ,we have opted to buy back damaged stock (good condition / recycle /usable) for Rs 18
please guide me a accounting entry in tally
Regards


MD MABOOB ALAM
15 June 2021 at 16:06

Balance available in in INPUT SGST

Sir/Madam
Kindly light on below mentioned query.
my client deals only inter-state SALES (Other State) sale and PURCHASE from intra-state(Local / within State)
therefore there is showing to much balance in input SGST .
what would i do kindly suggest me
i have no sales for local only interstate Sales and Export (without Payment Of Tax) Sales


md.sarfaraz alam
15 June 2021 at 16:01

Foreign payment query

We have to make payment to a foreign company with no base business in India. I want to Know the TDS Rate & section which we can deduct TDS for Consultancy Services received. The Foreign company is Singapore. Total payment is more than 10 Lac


Yogesh Wadhwani
15 June 2021 at 15:28

FNO Turnover

FNO Turnover calculation

Nifty MAY Bought Sold P/L : 25k P
Nifty MAY Sold Bought P/L : 10k L

Nifty MAY Contract Net P/L: 15k P

Nifty JUN Bought Sold P/L : 15k L
Nifty JUN Sold Bought P/L : 5k P

Nifty JUN Contract Net P/L: 10k L

So the Contractwise Turnover:
May 15k
Jun 10k
--------------
Total: 25k
--------------

OR

a Trade wise

25k 10k 15k 50k
-----
55k
-----

Which one is correct?

Thank you.


TARIQUE RIZVI

Can any one help me to open worklist on new portal of income tax ?


PADARTI SUBBA RAO
15 June 2021 at 14:55

LIABLE FOR GST REGISTRATION OR NOT

Sir, Please clarify this doubt?
One of my relative buy EPT (Earning Points) in online and sells the same EPT in online with small profit percentage. This EPT'S are related to Block Chain Technology. For example If I want to join a group in online first of all I Buy some EPT and then after joining the group some EPT'S are added to my account. This EPT'S are saleable in online with small profit percentage. All Transactions are done by online. What is GST Effect / Impact in this transaction i.e. whether he is liable to get GST Registration or not. If Yes, whether it a GOODS or SERVICE.


Pinakin

Kindly guide ...
If a Trust who has obtained 12AA certificate in AY2018-19, do they have to apply for renewal of 12AA or they have to do it next year

Thanks


Namrata Bengani
15 June 2021 at 12:00

Articleship change of plaxe

Sir/Mam, I am in 3rd year of my articleship.Now i have to take transfer from guwahati to delhi as my parents had been transferred to delhi. So, do i have to grant the application to ICAI as a request before filling form 109 to my own Regional ICAI office or can i send it to any of the ICAI office?


RAKESH KUMAR
15 June 2021 at 11:13

Associated Companies

If two companies have same registered office and are engaged in business with each other, will they be considered as associate companies, by virtue of the management control.

If yes, are the associated companies required to prepare consolidated financials. How to report the financials, if the associate companies have different auditors.

What are other disclosures to be made, in this regard.

--
Thanks and Regards


CA jignesh daiya
15 June 2021 at 10:50

Gst on Gift Card

Dear Sir

We Are getting Gift Card At Discounted Value Of Other Brand And We Are Selling It At Full Value . Whether Any Gst Applicable ?





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