We are two friends, we have a firm “ABC” and we both have equal share of 50% each in the firm. We opend a medical shop on the name of firm “ABC”. At the end of financial year our firm’s profit is INR 1,00,000. As per the taxation of firms we paid 3 lakh(supoose 30% is the only tax we have to pay).
So 100000–300000= 7 lakh is the profit.
we both distributed or shared the profit among us.
I took 350000 and my friend took 350000.
Now is this 350000 is taxable and do we need to pay tax on this 350000

Since we(firm) have already paid tax on that particular income, do we need to pay again.

Dear sir please clear about chapter 10 item if packed in branded seeds what's gst position

best book for ca final new syllabus

We are an LLP Company. When checking the GST status the Legal Name is showing up in the name of one of the partner of the company. Trade name is showing correctly as per LLP's PAN.

Is there a way to update this information such that Legal Name and Trade Name are both as per the PAN Name of the LLP.


Thank you.

Dear Sir,
I have migrate on 05/07/2017, however link to opt composition scheme is not available in my login. what is the solution of my problem. I have contacted on helpline but result is nothing.

One of my client has proprietary business (which is under service Sector ) he will provide service to the state of karnataka(banglore) presently he took GST registration under State of Telangana what type of GST is applicable to him GST, IGST or CGST while raising of invoice for the month of JULY.

Please suggest weather he need to take any IGST registration Number

Company raised invoice to his party for rs 10 Lakh and paid service tax in advance. Now the company has to reverse his income of 10lakh. whether the reversal amount should include amount of service tax or not. Whether the company can adjust advance service tax with gst in further billings like input tax credit of service tax.

can you tell me my uncle doing businesses of hoist , EOT crane and shed etc. they not have vat number. Labour business like fabrication of Crane and all. can you tell me for Gst number what I do.

Dear Sir
We have registered in GST and doing business in Karnataka , Crushing of ore and stones ( Before GST we have raised Bill in service tax) for that we are purchasing Spares from outside the Karnataka also, can i take Input credit on purchasing of within state and outside the state. please be clarify the same.
Thanks & Regards
S. Joshi.

We are Manufacturing Industry - Adhesives and gums, Every Year , We Purchased the Uniforms and safety equipments for the Workers and Staff's on that we paid GST. Can we Avail or not. For Unfoirm Purchased for Staffs

Urgent..

Thanks in Advance.