Bhaskaran Chackrapani Warrier's Expert Profile

Queries Replied : 22307

Graduate of Kerala University.

Fellow member of ICAI.

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Vishakha Mahajan says : ICDS II- Impact of tax on Gross Profit
Sir I have a query regarding ICDS II-Valuation of Inventories. *When we are including value of taxes and duties in amount of Sales, Purchase and Closing Stock (Inclusive Method),its affecting value of Gross Profit. The Gross profit is increasing with the amount of Tax to be paid on Sales Margin. *Please Guide me on this issue as to how value of taxes should be treated so that net impact of taxes on GP is Nil. My email id is vishakhamahajanca@gmail.com My contact No +917508041893

Bed Cwc says : Revenue Stamp for online Paymet-reg
Sir, In a central govt office, we pay our outsourced Driver salary through online payment through the providing/ contractor / agency. Do we need to demand the agency to provide "advance Stamp receipt", that is a receipt with a revenue stamp afixed to it. If yes, can you quote which rule / act says the need of Revenue stamp receipt for "ONLINE" payment please. Thanking you in anticipation Regards Vishnu Venugopal

W M says : Income from sale of sand/soil
Dear Warrier Sir, How can I disclose income from sale of sand/soil? As capital receipt or other source? If it is from agricultural land (within the meaning as per the Act), can it be regarded as agricultural income? Hope you can throw some light on the matter. I have asked a few people and they couldn't give a definite answer. Thanks and Regards

Hardik Patel says : GST on service provided to CG, SG
Dear Sir, I read somewhere that any pure service provided to CG, SG, and local authority are taxable at nil rate under gst. So my question is whether service provided to Nagarpalika covered under local authority? and service provided to such nagarpalika taxable under GST? Please help me in this regards. Thanks