I am planning to undertake the ICWA – Intermediate on Correspondence Basis for December 2017 Exam . I have completed Graduation in commerce steam – BCOM in full time and also M- Com in correspondence basis. I am located in Bangalore.

I have few Clarifications please help me to understand my Queries:

1. If i undertake postal Coaching how the Test assessment will be provided.
How many Test Assessment papers has to be submitted before taking exam. Mode of Submission of test Papers.


2. How to Undergo the Soft Skills Training. I am already working as full time basis in one of trading company as senior accountant. Whether soft skills training can be undertaken online or we have to attend the Classes for the same. Whether You will provide the nearest coaching centre or we can to search for the same.


3. How to Undergo the Computer Training. Whether computer training can be undertaken online or we have to attend the Classes for the same. Whether You will provide the nearest coaching centre or we can to search for the same. Whether Computer Training can be done in recognised Government Institution / Training Centres.


4. I have 3 years of Work experience as accountant in Tally ERP . Whether i can claim any exemption for Computer Training.


5. What will be duration for Both Soft Skills and computer training if we have to undergo the training before taking the exam.


6. Whether their will be extra Fee Charges for these Training ( Soft and Computer).


7. Whether we have to register for Intermediate Course after Completing these both Soft and computer Training or first we have to Register then Complete these Courses?


8. Apart from these both Courses any other Courses has to be completed before taking Intermediate Exam.


9. I have completed my BCOM in 2011 Passout Batch. I have passed in 83 % Aggregate in First Class. Whether i can claim any exemption in any subjects in intermediate Course Exam.

Excise duty paid under inter-state purchase shown separately in Invoice is available for Input or not for Jewelry retailer ??

An invoice for purchase of machinery raised on June and the payment for the same will be on delivery on August.Wether the buyer has to pay GST ?

Is the amount received from State Government as ' Samman Rashi' to freedom fighters is taxable? If yes ,under which head?

An eye surgeon is carrying out eye surgeries and he charges Rs 20,000 per patient as a package which includes charges for intra ocular lenses,some medicines during and after the surgery and his own service charges. Since medical services are exempt under GST but it is a composite service as he is also providing intra ocular lenses and medicines for the surgery . His annual receipts are about 40 Lakh rupees.Whether he has output liability under the GST for intraocular lenses and medicines provided?

Dear Sir,
If we want to transfer stock from one branch (TN )to another branch (AP), then what will be tax rate if it is for registered dealer.
GST tax rate for the product is 28 %.

Do we need to pay 28 % or 2 % on transfer of stock from one state to another state

Hello Sir / Madam,

In the recent meeting of GST Council, a point has been mentioned that “State-run lotteries will be taxed at 12% of the face value of lottery tickets”.

Till now, in Maharashtra, lotteries had single point tax system where Lottery Tax was paid by 1st seller in the state. There was no VAT or Service Tax. Only Lottery Tax was applicable which was paid by the first seller. Rest of the chain (Dealers, Agents, Sub-agents etc.) were not required to pay any Lottery Tax and were also not required to get registered under VAT and Service Tax.

My query is that what will be the position of rest of the chain under GST? Are they required to get registered under GST? Is there going to be single point tax system in GST also, or even these dealers are required to pay GST?

Sir

I want to calculate computation of income form salary. i have a doubt in HRA calculation. Bengaluru is metropolitan city or not?

Hi,
Before I begin, I have a disclaimer. I have no accounting background, so please do kindly explain as if you are giving your explanation to a school kid. Thanks.

My Case:
I am running a Spoken English training center ( startup ) in Kerala. We just started 1 year ago and till date our annual turn over is less than 5 lakhs. However, since I expected an increase in our turn over (surpassing 9 Lakhs threshold of service tax) in the coming fiscal year, I actually did enroll for Service Tax just to be prepared so that I can start collecting and filing once we actually cross the threshold.

Then the GST storm has hit and all my acquired knowledge via, articles, blogs and news about taxation is now a cloud.
I will be getting a provisional id and a password from ACES post 25th and I am supposedly required to enroll for the GST in 6 months time, however as per my projection I won't be crossing the 19 lakh threshold this fiscal year.

My Queries:

1: Am I liable to enroll for GST?

2: What would happen if I don't enroll with in 6 months? If my provisional id gets cancelled, do I have an option to enroll later? would that be a complicated step?

3: What would happen if I cross 9 lakh threshold for the Service Tax which I am already registered with?

4: If I enroll for GST, should I start collecting and filing/paying GST irrespective of my business crossing the threshold which is 19 lakhs?

5: Even if I start collecting GST for my services, is there any way I can not collect for certain services for example:

Assume I have a tie up with another institution (hereafter referred to as A) where they regularly refer students to my place. 'A' collects a caution deposit (eg. 5000/-) from the students and pays an amount (eg. 3000/-) to us as our service charges. They get to keep the balance. Let us assume, 'A' is not willing to pay the extra 18% GST, so I would have to make the 3000/- that I get from them inclusive of tax so that leaves me with just 2460/- which would definitely hurt my business. However, I can and will be able to collect 18% tax directly from other students who directly enroll at my institution. So how do I go about with the GST? How can I not pay GST for the 3000/- that I directly get from A? and pay all the taxes I collect directly from other sources? Is there any other option to deal with such a situation?

Looking forward to a healthy discussion and answers from all the experts of this community.

Thanks a ton in advance.
Regards
Alex

Dear all

Sir, I am confuse regarding basic salary. my salary is Rs.35000 and here is following salary structure of my salary:-

SALARY STRUCTURE ARE AS FOLLOW:
Salary Nature Amount (Rs.)

Basic Salary 4,000.00
Dearness Allowance 12,000.00
House Rent Allowance 10,000.00
Transport Allowance 5,000.00
Education Allowance 2,000.00
Medical Allowance 2,000.00
Total Rs. 35,000.00
Less: PF Contribution 960.00
Less: Labour Welfare 10.00
Net Payable Rs. 34,030.00


Sir, Please somebody tell me that we can put basic salary Rs.4000/- if i getting Gross Salary Rs.35,000 if we follow indian Laws. is it possible for less contribution in PF account.


Regards
Roshan Gupta