CST paid extra @ 1 % allowed for deduction as per Income Tax
This query is : Resolved
Sandeep Gupta
(Querist)
01 May 2008
Dealer is registered for past years under Delhi VAT Act and got registration for CST Act in June 2007.
Dealer purchased good from Haryana CST charged @3 % in the bil provided C form has been issued by dealer to creditor with in stipulated time.Dealer not able to do so. Now creditor charged CST extra @ 1% i.e. 3 % paid earlier now 1 % in addition .
This 1% CST paid allowed as deduction U/s 28 to 43D to the dealer while calculating PGBP for AY 2008-09.If allowed under which section and if not then why??
Dealer purchased good from Haryana CST charged @3 % in the bil provided C form has been issued by dealer to creditor with in stipulated time.Dealer not able to do so. Now creditor charged CST extra @ 1% i.e. 3 % paid earlier now 1 % in addition .
This 1% CST paid allowed as deduction U/s 28 to 43D to the dealer while calculating PGBP for AY 2008-09.If allowed under which section and if not then why??
05 May 2008
yes as it is cost of material so deduction will be allowable as purcahse price of price goods.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Gst credit note by supplier
- Reward for festival
- 18% Rent a cab
- Movement of goods by packers and movers - type of sale - Reg.
- Missed uploading GST Invoice
- Closer of business and itc of capital goods
- ARCA LOGIN
- Gratuity paid to legal heir above 20 lakh is taxable or not
- Appointment of Auditor By Form ADT-1
- RCM and same line
- Opting out" of regime provided under subsection (1A) of Section 115BAC but Form 10IEA is not filed.
- "Please ensure that the Total of the Deductions u/s 54F match the same in Table D in Sch CG"
- Need to correct "Whether it is last installment " response in Form 26 QB
- " Income from House Property " in joint names of co-owners
- REGARDING TDS RETURN OF FORM 27Q
- Notice under e-Verification Scheme
- GST demand notice for ITC reversal against exempted supply.
- RCM ON SECURITY CHARGES FROM INDIVIDUALS
- How to get money back from delisted company
- ITC not to be taken in accounts & GSTR-3B
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
