is rcm applicable on ocean freight in case of FOB purchase ?

A buyer brought a property for Rs. 1,00,00,000/- and deducted TDS Rs. 1,00,000/- and paid to the government under 26QB.

Now there were two joint holders of sellers A & B. Now While filing and payment of Rs. 1,00,000/- TDS PAN of seller A was filed and not of B. That is instead of Paying 50,000/- with PAN of A and 50,000/- with PAN of B. The Buyer only paid Rs. 1,00,000/- with PAN of A.

Now I need to rectify the same. What is the procedure?

One suggestion I received was to pay Rs. 50,000/- more with PAN of B and then Apply for rectification for Rs. 1,00,000/- paid. Lastly after the rectification File for Refund of Rs. 50,000/-.

Can someone guide be to the whole process? How much time will it take and How much a CA will charge for doing the said procedure.

Note: The case is from Mumbai.

My client has taken franchises of British institute. Invoice is issued in the name of British institute but client collect the amount from student and client pay Royalty plus GST collected from student to British institute. Whether I need to register for GST? If yes, who will pay GST British institute or client?

Dear Expert

A manufacturer of wooden furniture, registered under GST as a composition dealer.
My queries are :-
1. Can he do the Job Works as furniture repair ?
2. What is the GST rate on this service.
Thanks

a company has imported goods on FOB basis but the custom duty and igst on goods imported has been paid on CIF value which includes ocean freight , ocean freight has been paid seperately to the FOREIGN vessel owner , MY QUERY IS WHETHER THE COMPANY IS LIABLE TO PAY GST ON RCM ON OCEAN FREIGHT ALTHOUGH IT HAS PAID IGST ON CIF VALUE ? THE INVOICE DATE IS 18-9-2023 BUT THE VESSEL REACHED INDIA ON 10-10-2023 .

Dear Experts, Is there any way I can chnage the "Date of Creation of charge ". We exeuted a deed of hypothication on 18 th december , the stamp paper is also of same date but while filling chg-1 form i mistakely selected 19 th december. now the form is uploaded.

can any option on GSt portal , form where we can get E way Detail from 1.4.2017. to till date. due to we have got Notice for difference for sale and e way bill issued in year 2018-19.

If I bought an unlisted equity security in 2003 I would not have paid STT as STT is paid only if security is purchased through recognized stock exchange . But now when I sell the security in 2023 , it is listed and I pay STT on transfer. But section 112A specifically says that it is for listed equity shares on which STT was paid BOTH AT ACQUISITION AND TRANSFER . So now how will 112A apply to my securities? Or will section 112 apply instead?

Further I would also like more details about STT and how it is applied.

Thank you .

Rs.250000 rent exempted rent was recorded at back date on 31st march. So there is difference in balance sheet turnover and as reported in GST returns. so am i supposed to show this difference in 9c?

Hi Team,

We have a client who is a Professional claiming exemption under Section 44ADA for his Professional Income. He also owns a house in his home town of Lucknow for which he has taken Home Loan and claiming deduction under Section 24 for Interest Paid on Home Loan and for Principal under Section 80-C.

Since he is living away from his home town in Delhi on rent of Rs 10000, we want to claim Home Rent Paid of Rs 5000/0 Per Month under Section 80GG apart from Interest of home loan which he is paying as above.

We need to know whether he can claim both deduction in respect of Home Loan and Sec 80GG simultaneously in his ITR or will the system stop us from claiming one of them.

An urgent help in this regard will be highly appreciated.

With Regards,
Manik