If a GST registered firm is involved in multiple businesses. Can they claim ITC for all the expenses made? Regardless of which business the input is used for?
E.G. A firm is involved in sales of FMCG goods, as well as in providing sales consultancy services. Some expenses will be made for consultancy business like rent, electicity, computers' etc., and some expenses will be made for the sales business like purchase of goods., can the firm claim ITC on both?
Secondly, some expenses are made in cash where we get a Cash bill with GST added. Like eating in a restaurant. How to claim ITC on such expenses? The biller in such cases do not know our GSTIN, and might not have updated it in his billing software. Is there a procedure for such credits?
Thirdly, Can an educated layman, like me file his own GST returns? Or do we essentially need to hire a GST practitioner?
Receive HRA Rs. 8700 per month and rent paid Rs. 7000 per month, my landlord dose not provide Rent Receipt but in agreement it is clearly written the amt. of rent for the period.
Rent is deposited in bank a/c.
Can i avail the exemption u/s 10(13A) while computing TDS. And what if i will not provide rent receipt. And is their any another alternative.
what is daily wages limit in cash construction company
If a buying is agency located in India is receiving commission in foreign exchange from a foreign company located outside india for services provided in india relating to their purchase from Indian companies like identifying Indian vendorss, handling all communication with these Indian exporters and finally making all arrangements for the export of those goods. Will such a buying agency be liable to register under GST and pay GST EVEN IF SUCH RECIEPTS ARE ONLY AROUND 5 LAKHS IN A FINANCIAL YEAR ?
is it mandatory to provide aggregate turnover of p. year and p. quarter in GSTR 1 of july? can we put nil figure in these two? what impact will be of this?
We built a building which will be rented out after completion we purchased material and take service of contacter in which we pay Gst can we take credit & use when we issue rent invoice
After completion of articleship training whether it is compulsory to inform ICAI about doing new Course of M. Com by distance learning institute. If yes then in which form give the information and with in how many days?
plz any boby give confirm opinion on.,
is non udate of profile datail to be caused of non processes of itr. if itr already filled.
is update profile detail is mandatory for complete itr process if itr already filled.
Dear Sir,Mam My client received 2 lacs rupees compensation money from goverment so plz tell me it is taxable or not.
It's is true that ,a new changes made for composite tax payers. From 75 lakhs to 1.5 crore turn over is fixed .
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
Multiple businesses-input tax credit.