APARNA. K. S
16 September 2019 at 11:20

TDS on interest on subordinated debt

TDS on interst on subordinated debt shall be deducted under which section?


A.S.SUNDARARAJAN

I request expert opinion for the following :

We are aware that the time limit for taking GST Input Tax credit before September of the following Financial year or before submitting annual GST return which ever is earlier.

Our question is whether any time limit is prescribed for utilization ITC Credit or it can be carry forwarded in n number of years.


ASHU
16 September 2019 at 10:53

AUDIT

DEAR SIR, IN CASE OF E COMMERCE BUSINESS, THE SALE & PURCHASE BILLS ARE RECORDED IN BOOKS BUT I HAVE NO ANY TYPE OF EXPENSES ARE BOOKED IN OUR BOOKS WHAT WE SHOULD AT THE TIME OF AUDITING BECAUSE PURCHASE & SALE ARE RELATED WITH SAME ITEMS & EXPENSE IS RELATED WITH ELECTRICAL EXP. RENT EXPENSE AND OTHER EXPENSE LIKE SALARY AND OTHER EXPENSE ARE PAID IN CASH MODE WHAT SHOULD WE DO OR HOW I BOOK AN OTHER EXPENSE


A.S.SUNDARARAJAN

We request expert opinion whether interest is payable for wrong availment of Input tax credit from the date of taking credit or from the date of utilizing the credit.

For example one person has taken in eligible credit for Rs.10,000/- on 10.08.2019. But he has utilzed the credit on 31.08.2019. My question is whether interest is payable for wrong availment from 10.08.10 or 31.08.2019 ?


Kaustubh Ram Karandikar
16 September 2019 at 06:46

GST implications on Drawings

XYZ is a Proprietory Concern. The proprietor is withdrawing amount from time to time from the Proprietory Concern’s Account and the same is shown as ‘Drawings’ in the books of accounts. However, details regarding the expenses made against the same is not available. Will this have any negative impact under the GST provisions such as GST liability?


rajib bhattacharjee
15 September 2019 at 22:46

DISALLOW OF EXPENSES

SIR MY QUERY DISALLOWED EXPENSES DEBITED TO P/L A/C LIKE LATE FEE ON GST HOW CAN I SHOW IN SCHEDULE BP IN ITR 5


BG Pal

Hi, I have entered into an agreement with companies in Geneva and Singapore for providing IT consulting services as an independent consultant. From two companies I receive consulting charges in INR while from another company I receive in USD.
Recently, I have setup a proprietorship company for future business.

Request clarification on the following:
1. Is GST applicable on export services?
2. Is income tax applicable on the earnings from export services. If so, what the applicable rate.
3. Can I transfer my individual earnings in the current financial year to my new company books?
4. Is RBI compliance required for both Rupee and USD transfers? What the applicable limit and policy? Do I have to submit any application/ returns with RBI or other regulator bodies?


Amit Shah
15 September 2019 at 19:34

GST on Legal Services

Request you to pls confirm whether GST is applicable under RCM on Legal services provided to Charitable Trust who is register under section 12AA. If yes than who need to pay the GST i.e. Service provider or Service recipient.

Also confirm whether GST is applicable on legal services provided by Pvt Ltd Co & they charged GST in their invoices & the same is paid by them.


yash
15 September 2019 at 18:08

GST on GTA services

What is the tax implications of transportion services provided by one Goods Transport Agent to another Goods Transport Agent? If such services are exempt from tax and attracts reverse charge, does the supplier have an option to charge GST on forward charge basis?


Abdul Kader

We have to incorporate a LLP in which there are 3 designated partners, 2 of them are contributing cash and the remaining one is contributing immovable property (land) as his capital contribution,

My query is:

1.Whether the designated partner bringing land will have to pay capital gain tax on introduction of capital asset in the LLP.

2. Whether proper transfer instrument needs to be prepared other than LLP deed.

Thanks & Regards,





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