Dear sir
I have filed my ITR this assessment year. I am salaried employee.
I forgot to show money received by cheque on sale of motor car ie Rs. 180000/-. Insured declared value of car was 250000/-.
I am wondering whether I should revise my ITR.
There is no capital gain in any case.
Your expert advise shall be valuable.
Thanks & Regards
RK Sharma

XYZ had exported equipments earlier which needs Quality Certification from a recognized agency in India. XYZ got done the technical audit and certification of the equipment before exporting the same. The charges incurred for this certification was recovered from the foreign customer.Is XYZ liable to pay GST on the amount recovered?

I have query regarding exempt income. Our company is deals in manufacturing handloom products & having ORCHARD income also but in previous gst return we didn't show ORCHARD income from April to aug 19. Can we show this income (Apr to Aug 19) now in next month(sep19) gst return. Moreover in gst 3b & gstr 1 in which column we have to show agriculture exempt income.

Dear,
One of my client (Partnership firm) did not e-verify ITRV for AY 16-17. Return was filed in time(31/07/16) and loss of 25 lakh was carried forward in AY16-17. Portal is showing Invalidated return. Next two year (AY 17-18 & 18-19) there was profit 13 lakh & 8 lakh respectively and the same was adjusted with loss of AY16-17. But Department issued demand. How can we get our return validated

Can we issue credit note only for GST amount due to wrongly charging of GST on service.

Sir one of my friend's GST REGISTRATION is cancelled by department , on August bcoz he has not filed the return since May 2018, but now on 20 th SEP 2019, he filed all GST returns from May 2018 to August 2019 along with late fee, and filed application for revocation of cancellation of registration, but now tax authority is asking for payment of interest @ 18%. for late payment of tax liability, as he has paid GST TAX BY UTILISIING THE ITC for the month of March 2019, I want to know whether he has to pay interest or not, as amendment of sec 50 of CGST ACT is said interest is to be paid on net tax liability , ie tax paid by cash. PLEASE please clarify on this regard

Dear Sir / madam,

I wish to know: Mr A is routing GST by maintaining duties & taxes. He is liable for tax audit. He has not paid GST for Jan to March 2019, which is shown as payable in Balance sheet. Please tell me, whether this GST of Q4 will be disallowed and added back to his profits in computation?? He is maintaining duties & taxes.

Kindly guide.
Thanks,
Suraj

Anyone can subscribe to shares of a Urban Co-operative Bank (UCBs in Gujarat).
However, If Shares of a Co-operative Bank are issued to Individual at Face Value of Rs. 100/- but the Book Value (As per Networth of the Bank as per bookvalue of closing balancesheet) of the Share is Rs. 500/-, then, whether difference of Rs. 400/- be treated as taxable income in the hands of Individual allotee of share u/s 56(2)(x) of IT Act amended w.e.f. AY 2018-19?

Asseessee HUF is trading in F & O

In A Y 17-18 & A Y 18-19, since F & O Turnover were More than 1 Crore & Profit were Less than 6%, so Tax Audit was done in Last 2 years.

In AY 19-20
F & O Turnover is Rs 21 lacs approx
and there is Loss in F & O business, No other Income Except Bank Interest


Will Tax Audit Applicable ?

AS PER 37TH GST COUNCIL ANNUAL RETURN FOR F Y 2017-18 & F Y 2018-19 IS NOT MANDATORY. SO WHETHER WE HAVE TO COMPULSORY RECONSILE DATA FOR GSTR 2 & GSTR 2A FOR F Y 2018-19 (T.O UPTO 2 CRORE). FURTHER IF WE HAVE TO DO WHAT IS THE LAST DATE. SEP 2019 WE HAVE TO ADJUST OR WE CAN DO UPTO MARCH 2020. ALSO IF WE HAVE NOT DONE UPTO SEP 19 WE HAVE TO LOSS ITC FOR PREVIOUS PERIOD.