Sir, Please guide about bellow mention query
in April Month i supplied to register person taxable value Rs. 108000 + 1411 to unregistered person. my total sale in April-2018 worth Rs. 109411.00. In April month i received Rs. 43204.50 as a return goods. now when i m file my April month 3B return in table 3.1 which amount i submit as a outward supplied first one is Rs. 109411.00 & second one is net value after less return good (109411-43204.50)66206.50 please reply me as early as possible.
Which amount is right

*type above - meant real estate:)

Hi, I was planning to guy 1st home (apartment) from a builder / construction company. During ST regime the tax applicable on the price was quoted at 4.5% and now on the same amout it is being used and 12% GST getting added to that - which has substantially increased the price - not to mention the increment in the per sqt rates by the builder.
Builer refuses to give any ITC on GST saying there is confusion and noone is clear - hence this is the amount that is being charged to all. (pl note: The said apartment is under construction). Question is that if this is a fair assumption today in the market that there is no ITC that will be passed on to the buyer and a buyer has to pay complete 12% GST on purchase of a flat. The incremental cost different between 4.5% and 12% is becoming huge - hence nowhere resulting in the benefit to ens consumer (buyer). Please guide.

I submitted ITR 2 showing incomes including capital gains from investments in equity shares/ MF units after deducting loss incurred on F&O trade therefrom for the Asstt. Year 2017-18 and got an intimation under Section 143(1).

Later on I realised that profit/loss from F&O trade need to be shown as income from business and I revised and submitted ITR 3 showing loss of about Rs.1.24 lacs under the Head 'Income from Business' resulting into refund of income tax due to appropriation of loss against income under other heads.
Being there was no business and was not maintaining any accounts I did not fill in any details in Profit & Loss Account and Balance Sheet in the Return form while submitting online.
Now I have been served notice under Section 139(9) for rectifying the return that has been treated as defective.
Summing up all negative and positive figures of net results of all transactions it comes to around less than 2 lacs.

I seek guidance as to the following points:

1. What will be gross turnover needed to be be filled in the profit and loss account. Will it be total sum of net results or sum total of full value of all transactions that took place.

2. Do I need to maintain accounts and get them audited under Section 44 AB.

3. As no audit has taken place, what will be the impact and how the income tax authorities will treat this. Will there be any further scrutiny and implications.

4. What further action be there in case I do not respond to the notice at all and not rectify the revised return submitted by me though intimation has already been received for the original return in Form ITR 2.

Kindly guide.

My client is a private limited company, it has registered GST number, however the turnover last year did not cross Rs.20 lacs, so they did not raise bills with GST. Are they required to raise bills with GST and deposit GST.

Dear Sir

We had paid salary to an employee Rs 1.00 lakh p.m after deducting TDS (tds deducted on estimated yearly salary Rs 12.00 lakh )

P.M. SALARY PAID

Salary 100000.00

P tax -200.00

Tds -14745.00

Net pay: 85055.00

After paying apr +may+june (85055x3) said employee left the company

Now while we generating TDS return on gross PAID salary RS 3.00 lakh how we show tds total 14745x3 = 44235.00 IN Q4 SALARY DETAILS (FORM24)

PLEASE HELP

My client has registered GST, for a private limited company, however the turnover of the company has not crossed Rs.20 lacs. My query is whether the client has to raise a bill with GST or without GST.
Pl reply at the earliest.

What shall be the accounting for dividend paid in excess of that proposed for the last year?

Can it be shown as exceptional item?? or under reserves ?

Sir,

we have supplied material to a buyer one is SEZ and the same person delivery to non SEZ.
we have billed it on the name of SEZ BUYER and material sent to non SEZ by tax LOCAL csgt and sgst.
My question is whether it is correct

Dear Experts,

If someone has
A) two distinct GST Numbers for two different businesses but under single proprietorship and
B) 1st business has turnover of 4 to 5 lakh annually and
C) 2nd business has turnover Appx. 2.5 to 3 Crore.

Can he select GSRT 1 frequency Quarterly for 1st business & monthly for 2nd business.

Dear Sir
one of my client is saling his finished goods to his customer,and after 9 months he was called and asked to give Rs 5/- per kg rebate and a debit note is handed over to him. now my question is how would this debit note will be treated or adjusted pls explain. it is urgent