Turnover of Firm is 1,23,55,000/- and Net Profit is 7,14,000/- i.e. around 5.8 % of Turnover. Under which sec. audit is require in Income Tax act and whether the firm can give remuneration to Partner under sec. 40b and how much.

Dear Sir / Madam

Can you please help me in GST regime we are a manufacturer and purchased 2 machines for manufacturing purpose. We are using for manufacture of that machine for domestic sales and Export sales under LUT.

In this case can i take full input GST credit in one installment?

Kindly advise sir.

Dear Experts, Is GST payments are required under Reverse Charges after the GST council meeting on 06.10.17. In case if any one issued tax invoice on Reverse Charge for the month of sept'17 he should pay the amount on or before 20th Oct 17. Thanks.

Hello sir,
I want to ask that my father sold some part of property and received cash as advance he has given me to deposit this cash in my saving account. i would like to ask that if
i deposit this amount in my bank account then will i get any income tax notice from IT Dept. to clarify the this amount.

Please reply ASAP

Aggregate turnover of preceeding financial year is pan base on pan No. or GST No. if two firm with same pan situated in different states UP. AND DELHI which is aggregate turnover for both firm example:- Up's firm turnover is. 50000 Delhi's firm turnover is 50000 now aggregate turnover for both firms 100000 or 50000, 50000

Can anyone let me know the procedure of how to generate sub codes for branches

Dear Experts,

I hear the news Rcm under GST will be suspended till 31.03.2018. In such case if we are not paying RCM for the month of July - Sept' 2017. Whether RCM will be payable for the period of July' 2017 to September' 2017 or Not?

Can we take input Credit of GST on Purchase of Sweets and silver coin for distribution to staff members and others .

Dear Sir,

We (Pvt. Ltd. company) are provide Domestic & Overseas service of "Technical & Scientific Consultancy."
As per agreement with them we have mentioned that we will take reimbursement against some purchase of material & services which are exclusively purchased
for this project & after that we take reimbursement of actual cost is occurred through debit note..
My query is GST applicable or not for this transaction?

Regards,
Rahul Shelke

Dear Sir,

A company’s turnover is Nil in current year. Should auditor file an audit report in 3CA-3CD as per Income Tax Act? Or file only Statutory Audit Report as per Companies Act (for ROC part)?

Thanking You