Whether TDS is applicable on purchase of foreign currency. If not then why not. Some one argued that since tax invoice under GST shows taxale supply of foreign currency which is covered under foreign exchange services, the same will be regarded as service under U/s 194J of IT Act. Though I do not support this logic please help for this query with proper clarification. Thanks in advance.

Sir if Composition dealers paying shop rent to URD on rcm basis then input credit available or not ?

I have a business loss of 54000 on turnover of Rs. 750000. Is audit compulsory ?

Hi guys, Looking for some advice here. I have encountered a situation whereby I'm stuck and cannot find any answers online. Firstly, I am a non residential Indian and have been so for the past 20 odd years. I have been filing my taxes as mandated by the authorities. I have just received a notice 143(2) and have been asked to meet the AO. I will have a representative go and meet the AO. I have two questions regarding this scenario : Number 1: being a non resident, I am not taxed on my foreign income (all of which I transfer to financial institutions in india), from what I have understood I have no tax liability due to my residential status. Any idea why my file might have been picked up by CASS? Number 2: Will the inquiry be limited to the financial year in question or can the AO decide to open up all the information from previous financial years? It's very vague in their requests, so just want to make sure all the required documents are in place to avoid any further delays. Would really appreciate all your input and help. Thanks in advance.

Good evening to all,I would ask for tds refund..As i ask to pay an interest of Rs. 1600 and as making payment typical error I wrongly entered the amount 16000 instead of 1600.The excess amount of Rs. 14400 doesn’t shown in 26AS.Please suggest me to get refund

Mr. X purchase material 25 Kgs at Rs.1000.00 per Kgs but bill receive at Rs.1100.00 Per Kgs under GST. There is rate difference of Rs.100.00 Per Kgs i.e. 25 Kgs X 100 = Rs.2500.00.
Mr. X issue debit note to supplier.
My question is Mr. X charge IGST @ 18 % on debit note value i.e. 2500 X 18 % = Rs.2950.00
Please reply on urgent.

Hi Sir,

RCM is applicable where registered dealers purchased goods or services or both from unregistered dealer in aggregate of expenses exceeds Rs.5000/- per day on all such expenses.However, Jewellers are purchases old gold from customers against their sales.
My question is , where this exemption limit also applicable to old gold purchase or is exempted from this notification 8/2017. please clarify in this regards.

Our local supplier provide us goods at our door and charge freight 800-900 in invoice but he add freight after GST so my question is how to deal freight entry. RCM will be applicable on freight ? He provide goods by chhota hathi or Tata 207

dear sir i want to know we provide services to university institution and income tax office department , should we charge gst in this bill or not ?? kindly help .

I need a confirmation on the following:

In case of loss (i.e. profit being less than 8%), whether tax audit is required if total income is less than the maximum amount chargeable to tax? I am using spectrum software for preparing tax returns which shows the message in cases where the profit is less than 8% (or where there is loss) and total income is well below the exemption limit. Please help on this