One company is in business of export of services (no domestic supplies). initially it exported services on payment of IGST. It utilised ITC at the time of payment of IGST on export of services. Later it applied for LUT and after that all supplies were done under LUT without payment of IGST. Since then it has huge balance of ITC in its credit ledger. ITC includes ITC on Inputs, Input services and capital goods (approx 40 lacs). As per Rule 89, the company can claim refund of ITC on Inputs and input services only and the accumulated balance of ITC on capital goods will remain as it is. Please suggest what action can be suggested to company to save it from loss of ITC on capital goods.

Hi Team,
If assets useful life is over whether i have to retain 5 % of cost of asset as retained dep or I dont have to calculate on assets whose useful life has ended.
Plz help

Point No. 1.

I/We registered person in kolkata purchase goods from Mumbai to Kolkata. Transporter is unregistered but having office in both states. In bility mumbai address is printed. If I ask bill from Transporter they give me a bill where Telangana address is printed. So in what head i Have to pay gst or RCM---IGST, CGST & SGST

Point No. 2.

I/We registered person in kolkata purchase goods from Mumbai to Kolkata. Transporter is registered but having office in both states. In bility mumbai address is printed. If I ask bill from Transporter they give me a bill where kolkata address is printed. So in what head i Have to pay gst or RCM---IGST, CGST & SGST

Can the ecperts guide me if udin is compulsory for all certificates, audit reports, provisional financial statements, projected financial statements etc

Dear Sir,
compound dealers ke login me 19-20 ka gstr 4 kyo appear nahi ho raha hai ?

Can you explain the procedure for transfer of dematerialised equity shares of an unlisted public company ? please tell me what documents are obtained by the company from the shareholders to execute the transfer.

I am an NRI . Recently Wipro had announce bonus 1:3 ratio. I had 200 shares which made my share as 66.66 so I received 66 full shares and got Rs175 as fractional bonus trust entitlement for the 0.66 portion. I got 147 in my account after deduction of 28 Rs TDS. I am filling ITR2. I have following queries.
1. whats the taxation angle on this fractional bonus cash that I received? someone told me the fractional bonus price if paid as part of bonus trust is not taxable. please advice if this is correct as the TDS has been deducted on same.
2. Where do I need to report this income in ITR2? which section?
3. While claiming TDS deducted for this fractional bonus in ITR2 now you need to mention the gross value and choose the type of income from a drop down menu. the options are income from other sources/Capital gains/exempt income. which one do I select for this fractional share payment?

Thanks

Source of income of a non-profit making entity like a housing cooperative society is only its members' contributions. The society invests a portion of such contributions in bank fd in a certain financial year and shows it as asset in the balance sheet of that year. The fd matures next year and is reinvested, both original capital and interest together. The matured amount is again shown as asset in that years's balance sheet.
Now, the problem is if the interest earned on the original capital is not included in the liability side of the balace sheet, the two sides (liability and asset) are not matching.
Should it be done so and will it be in conformity of accounting procedures?

I have just started as a unemployed engineer contractor at PWD (civil contractor business) maharashtra , and now i require ITR for further process such as GST no. Registration , DSC Certificate and tender filling . But i don't have any income till now , so what to do now . Please help me with a solution .

Dear Expert

We are manufacturer and sending the Job Work under the GST with DC and e way bill.

We are insisting our job worker to send the documents with the material as below.

1. Delivery Challan showing material value qty etc
2 E- way bill raised by us against his DC
3. Job Work Invoice.

But our Job worker sending the following
1. Job Work Invoice
2. Our DC

We have advised him to mention Material value in your Job Work Invoice then only it is correct but he is not ready to mention material cost in Invoice and asking for show me the Law notification.

Kindly advise in this regard