A assessee is paying Rs. 80,000 via fuel card(He will recharge the fuel card and give it to transporter) and balance Rs. 20,000 via cheque to a GTA for Transportation via Road.
Q1: RCM will apply on Rs. 20,000 in GST but what will be the GST implication and accounting treatment of Rs. 80,000?
Q2: If the assessee gets cash back of Rs. 200 on the fuel recharge whether the same will be treated as an income of the assessee?Else whether the cashback should be reduced from the feight expenses.
Q3: In case to be reduced from Freight, GST will be paid on the full payment in respect of the GTA without deducting the cash back?
Hi Sir/Madam,
I am getting registration in GST. I have my place of business in rented premises. as a proof of place of business i have to upload Rent receipt with NOC.
I want to know the validity of NOC. Whether I should make it on a STAMP PAPER or on letter head.
Please guide.
Thank you
Dear All,
I have a question relating to closing stock valuation as on 31st March.
Suppose I have 1,000 units of closing as per records of books of accounts, but i in physical verification we get to only 990 is lying in the stock.
there is a difference of 10 units as on 31st march.
Question : what is the treatment for 10 units in the books of accounts as on 31st March...Please help me out...
DEPARTMENT HAS NOT GIVEN DEDUCTION U/S 80TTA AND CREATED A DEMAND. I HAVE FILED RECTIFICATION REQUEST U/S 154 ON PORTAL SELECTING THE OPTION REPROCESS THE RETURN. NOW IN RESPONSE OF DEMAND WHICH OPTION SHOULD I CHOOSE IS IT A RECTIFICATION FILED WITH A.O ?????
I FORGOT TO TAKE HP INCOME ON WHICH TDS IS DEDUCTED. HENCE DEMAND RAISED BY DEPARTMENT. NOW I HAD PAID DEMAND WIYHOUT CONSIDERING TDS AMOUNT AND WITHOUT REVISING RETURN .IALSO CONFIRMED THE DEMAND. WHAT SHOULD I DO NOW??????
Dear Sir,
We had purchased plant and machinery for our factory on 01/04/2015. At that time ,we had applied for govt. subsidy.
Now In 28/11/2018 we had received govt. government subsidy of Rs 15 lakhs.
What will be the accounting treatment for subsidy of Rs 15lakhs in books of account. Whether entire amount of Rs 15 lakhs is taxable.
Dear Experts,
Doubt regarding whether liable to rise CGST bill or IGST bill "Person provides rent of immovable property services. Here property located in Assam but supplier haven't registration in Assam but have in Bihar." Here place of supply is Assam as per section 12(3). Please clarify my doubt about whether supplier can raise directly IGST bill from Bihar or should be mandatory to register in Assam and raise bill with CGST and SGST?
Kindly answer the tricky question..!?
we received non corpus and corpus donations of the Trust. 15% of income to be carry forward from non corpus donation after deduction ,we spend expenses more then the income. How to do the computation as per IT Act (it is registered u/s 1 2A of the IT Act) . In ITR-7 we have received 143(1)(a) in that " you are claimed more than the income offered in Sl.No.2". In this return Amount applied to charitable purpose in India during the previous year is more then the income. How to disclose in ITR-7. Please suggest me sir
Dear Sir
I am going to start Hotel work . and we purchase TV , Geyser, AC, Furniture, electrical Fitting , Sanitary Fitting , Phone, Linen, Bed Sheet, Cloth, Towel,Lift, Flooring , Fridge, Kitchen Equipment Etc
Now , Can I Take GST Input on that Purchase.
Please suggest
Thanks
As far s the financial year, 2017-18, is concerned, the amount of TDS, deducted, from the rent payment, is Rs. 160000.00.
But, on the Income Tax website, the TDS, credited is Rs. 133395.00.
Also it is possible that if we donot pay the TDS and pay directly to the Flat owner.
So I request you to please look in the matter and reply.
Thanks & Regards
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Rcm in case of gta