By mistake One purchase bill not shown for the month of Feb 2020, so no input tax taken on that purchase bill for the month of Feb 2020, but now For the Month of May 20 that purchase is taken into consideration for claiming input tax credit.
1) Should i avail input tax credit for the month of May 20 ?
2) What is the maximum time limit for utilization of Input Tax Credit for the FY 2019-2020 ?


Regards.

I am a Manufacturer of MS Patti (HSN 72111910). I have an order for Galvanised MS Patti (HSN 73089090) but this HSN is not registered in my GST Registration. May I supply this product? what formalities to be done before that in GST Registration as well as between me & Galavanising unit?

Please suggest

SIR
Is the Balance sheet compulsory and to be audited for all of small business?
......... AND........

A Truck Company which has own trucks is doing its business in the name of "Adithya Roadlines" in the first two years. Then, it has registered its business under the Companies Act
After Two years in the name of " Adithya Roadlines P Ltd".

It took one year after renamed as "Pvt Ltd".
Still it has not filed any balance sheet.

Whether we should prepare balance sheet for last three years or One year?

Thanks in advance

Recently when I logged into e-filing site, I noticed that there is a e-campaign entry in compliance portal regarding "Significant Transactions". These transactions are nothing but the commission as received by me from various insurance companies which has been taken from TDS certificates I suppose. It did not include the last quarter income too.

Should I submit the response to this in the portal? If YES, should I say that the amount is incorrect as it does not include last quarter income.

I didn't receive any mail / SMS intimation on the same - neither there is any "Pending" in "for your action" tab in the portal.

Dear All,

Could you please let me know how much % of the commission can be claimed as expenses & also if we need to maintain the bills as proof for all the expenses incurred. Practically it is not possible to maintain receipts for every thing. Also are cash expenses allowed as in many cases we will have to pay by cash only...

Dear all
My question bill date 24/3/18 i have tack credit march 18 gstr3b but suplier showing that 1/4/2019 gstr 1
What is effect of itc ?
Can i reverse itc?

Dear all,

We have a manufacturing plant which has multiple segments within same premises. I want to know that can we take separate registration for each such segment within same premises on same address having common PAN, Gate, Warehouse, Weighbridge, ETC etc ?
Thank in advance.

Dear Sir,

I have unsecured loan of Rs. 3,00,00,000 and pay EMI of Rs. 4,10,336/- Monthly. In the previous quarter I paid total amount of Rs. 12,31,008/-
Where principle is = 5,59,545/-
Interest is = 6,71,463/-
TDS @ 10% = 67,146/- or (6,71,463 x 100 / 90) = 7,46,070 *10% = 74,607/-

Which is Correct calculation?

Kindly help me how to calculate TDS on interest paid for unsecured loan.

I understand the TDS for Insurance agents is 5%. I would like to know how it is calculated. I receive Form 16A that states I have been paid / credited 100/- as commission & 5/- is deducted & paid as TDS. Is my total income then - 105/-? I was thinking that my income is 95/- & TDS should be 5/-. But that does not seem to be the case - Could some one help me understand how TDS is calculated & while filing returns should we add up both TDS credited amount + commission paid amount to arrive at gross income to file taxes?

What is the due date of active 22A form FY 19-20 ?