Dear sir/ madam, I am filing IT RETURNS for the first time and my business turnover is less then 1 crore and profite is less then 8%. Is it mandatory to file my returns U/S 44AB?

We are a proprietar company providing services to find buyer/ sellers / clients and documentation for European company. The European company director don't have any company or owner of any Indian company. And we are providing services to them only outside Indian territory. They are not buying or selling from INDIA through us. We made the agreement for our long time business. We are taking commission in forex .
Are we liable for gst on export of our services.

Hello Expert :

We explain our case as follows:

1) Our Company in Singapore is the MAIN SUPPLIER to Indian Company, (in Gujarat) for USD 1,000.00 approximately. We have no presence in the form of any branch or entity in India or even an Indian Agent. We are purely working as a SUPPLIER relationship with Indian Company Gujarat. We are NOT going to come to India for offering any Services or Installation etc. in India for this SUPPLY order. It is a pure SUPPLY of Material order on FOB Basis.
2) Due to delay in Shipment, Indian Company applied 4% Late Delivery Charges on our Singapore Company to the tune of USD 40.00 (USD 1,000 x 4%). The Late Delivery charges can also be referred as Liquidated Damages (LD).
3) But Indian Company is applying GST (@18%) on top of the 4% LD Charge i..e USD 40.00 x 18% = USD 72.00. We have objection to this amount of USD 72.00 for the following reasons:

A) The Singapore company is a Foreign Company with no presence in India as explained in 1) above.
B) The Singapore Company sold the equipment as per contract on FOB basis. The shipment was handled by Indian Company through SCI. The relationship between both (our Company and Indian Company) is one of SUPPLIER – IMPORTER relationship. Indian Company is the Importer and handling the Shipment from XXX to India.
C) As a Foreign Company we are not covered under India's GST Law and are not registered in the GSTIN system. So how can the GST be applied on the LD Amount? The Singapore company does not have a GST No too and will not be able to claim for the GST refund.

Kindly can you confirm. We need your expert advise preferably with supporting documentary evidence referring to the GST Law and Clauses.

Dear Sir,
can we get ITC on purchase of office AC ?? Actually i am confused whether it treated as building material or machinery becaouse on building material we cant get itc .


pls advise

OUR BUSINESS IS RENT A CAB
WE OPTING THE 5% GST (WITHOUT ITC) ON SERVICE PROVIDING. NOW I PURCHASED A COMMERCIAL VEHICLES (CAPITAL GOODS) CAN I CLAIM ITC PAID ON CAPITAL GOODS OR NOT. PLEASE REPLY

Dear community of friends and expert,

Would appreciate if you would take some time to clarify my query.

I am a courier service provided registered under GST. I have filed all the GSTR3B filings up to present month and my dues are cleared. I have mentioned the total sale and GST collected on it and deposited the same, however, I have not filed GSTR 1 ( mentioning details of the individual receiver of services). Is there going to be any penalty if I file it now(as there is no payment option in GSTR1). I have already paid the collected GST.

From what i read, the penalty on delay in filing GSTR1 is collected at time of payment in GSTR3B, but GSTR3B has already been filed, there is no clarification anywhere regarding this situation.


What would be my best bet to avoid or minimise any penalty? Should I cancel my GST number and get a new one issued to avoid any problems?

Sincerely hoping for your guidance.

Can i update GST number of a client in my gstr1 filled for the month of december 2017
as the client had taken the input credit but i have not uploaded gst number of that client in my gstr1.

Sir,

I got Notice u/s 143(1) regarding the tax demanded Rs. 200 /- . (Actually tax tax liability id Rs. 196 /- but rounded off to Rs. 200 /- )
I have not shown bank Interest of Rs. 1891 /- and TDS Rs. 194 /- while filing ITR-1.
In this notice , the above income is mentioned under other source of Income but TDS for the same is not mentioned .
I would like to know the procedure for response to that notice.

urgent......

Dear Sir,

Kindly what will be Tax Treatment of Bonus Share and Right issue share sold ?
What will be to Cost of Acquisition ?

thanks & Regards

Hi
Friends , can any one tell me

1.Purchase bills on 1-4-2018

can i take ITC on it now in May-2018 or June-2018, Because Vendor given bill now

2.One bill is there 100 Rs/- and charges GST of 5+5_C&SGST , and it was wrong
calculation calculated by vendor . actually it was 10+10_C&SGST .

Now my query is should i take 5+5(By saying Discount ) or 10+10(By doing actual Calculation)

Bill is like this
Service Value 100
9% CGST 5
9% SGST 5
TOTAL 110