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JR Engineering
30 January 2023 at 14:24

ITC under Karnataka VAT

Dear Sir,
We are a sheet metal manufacturing unit in Bangalore. Purchased a Laser Cutting machine in April, 2017. We do sales of sheet metal products and also provide services of laser cutting or bending only, i.e. job-work. We are under Service Tax. Labour charges under KVAT are zero-rated sales but we include Service Tax in the Invoice to our clients. Will I be able to avail full ITC of the machinery purchase ? Thanks, Ramesh


suresh s. tejwani
30 January 2023 at 13:50

REGARDING ITC CLAIM NOT SHOW GSTR2A

ITC claim in March-2019
ITC not show in GSTR2A of 2018-19 but show in GSTR8A of 2018-19 reason is supplier file return in September-2019
Is liability of interest in this regard is ours?


G Prathiba

Explain the compliances needs to increase paid up capital?-Private Limited Company.

Thanks in advance.


Umashankara HB

We do sale both taxable & exempted goods and we purchase packing covers, which is taxable, for the purpose of packing both taxable & exempted goods. Out of these packing materials we use same covers for all the products except few, which are exempted, named jaggary, Oil & Pushti. For Pushti we use separate packing cover(Pushti Covers) and for other two we don't do packing. We are reversing entire ITC of Pushti covers(T2), because it is used for exempted supply.

My Question is, while calculating Aggregate value of exempt supplies during the tax period(E) & Total turnover in the State of the registered person during the tax period (F), for Rule 42 purpose, do we need to include turnover of Pushti(for which we are using separate Packing covers and not taking any ITC benefit), Jaggary & Oil (for which we don't do any packing)?


Henri
30 January 2023 at 12:52

Rental income on movabel assets.

What if private company purchases truck and provide it for rent to patnership firm, and receiving rent on that.

So, how to deal with this in income tax.


CA Parul Saxena
30 January 2023 at 12:44

Login on icegate

i have heard that juse IEC code required to login on icegate can somebody please tell me how to login on icegate portal?


shivam singh

Circular 23/2017 dt 19.7.17 clarifies that TDS should be deducted on amount excluding GST, provided GST is indicated separately. Now, under Income Tax act, for what purpose should this circular be applied.

1. For the purpose of ‘determining the amount’ on which TDS should be calculation .

2. For the purpose of ‘determining TDS APPLICABILITY’ ie: scope of TDS threshold limits.

If the scope of the above circular be applied on point no 1 , then what is the scope of checking threshold limits(including GST or excluding ).



Gaurav Sejpal

If the material is billed to the bangalore customer from Delhi. Bangalore customer is accepting the material. Can we reverse the Tax Invoice and issue new Invoice to other customer of Bangalore and dispatch the material to other customer from bangalore itself (Bangalore Transport Hub)


Vishal Kumar

Is there any circular/Notification from RBI for offsetting value of Additional Collateral against NPA


ABHISHEK TIWARI
30 January 2023 at 11:16

LEDGER SELECTION

If, we provide reimbursement against repair & maintinance of personal vehicles of staff's car, then what GL have to open.

For Example, Staff welfare or Repair & Maint. Vehicles