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.

I spend 20% of Purchase consideration for an under construction flat. The construction is near to complete and Completion Certificate (CC) will be issued within a month.
My question is the applicability of GST on the portion of my payment before CC and the portion of payment after getting CC.

Respected Sir,

As I have to workout the dep for a pvt ltd company, I shall be highly obliged should you please let me know useful life for the following assets :

1- Computer 2- Electrical Fitting 3-Furniture & Fixture
4- Motor Car 5-Office Equipment 6-Vehicles

Please let me know the way dep for a pvt ltd company is worked out.

With kindest regards

yours tarique rizvi
982 1630 130