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Posted On : 09 January 2026
In Reply To :
GST on Tobacco - as per new notification
Whether have to apply for Excise registration?
Posted On : 09 January 2026
In Reply To :
TDS Threshold and deduction
Once annual rent crosses ₹6.00 lakh, TDS must be deducted on the full rent from April, and interest is calculated from the original payment dates of each month’s rent — not from the threshold crossing month.
Posted On : 09 January 2026
In Reply To :
Clearing forwarding reimbursement party account
It is NOT mandatory to incorporate each reimbursement party in books.There is no contravention under GST Act or Rules.
ITC is supplier-wise, not ledger-wise.
Rule 33 governs reimbursement, not accounting structure.
Your current accounting method is legally acceptable.
GST law requires invoice-wise ITC reconciliation, not party-wise ledger posting.
Consolidated accounting with proper invoice tracking is fully compliant.
Posted On : 09 January 2026
In Reply To :
GST on Tobacco - as per new notification
1. How to Raise Invoices After 01-02-2026For supplies made on/after 1 February 2026:
Invoice must show:
Taxable value (based on RSP if Rule 31D applies)
GST rate (e.g., 20% on raw tobacco)
GST amount under CGST + SGST (or IGST if interstate)
If applicable, additional excise duty (separately shown if collected)
HSN code for tobacco product correctly classified
Reference to applicable notification rates
2. Before 1 Feb 2026
Continue invoicing at old GST structure.
From 1 Feb 2026
Update billing system to new GST rate schedule.
If applying RSP-based valuation, revise invoice price build-up accordingly.
Ensure accurate HSN classification for raw tobacco vs other tobacco products.
Check whether additional excise duties/cess apply to the goods you handle.
Maintain clear records of notification citations and valuation methodology for audit.
Posted On : 09 January 2026
Condonation of Delay u/s 119(2)(b)
I want to file Income Tax return Form 2 for AY 2019-20 in terms of one circular which will result in refund.when i login income tax portal under "Services" "Condonation Request" only
Type of condonation request you want to proceed with*
Delay in submission of ITR-V
is available and allow ITR filing after time-barred is not available.
In this case how to obtain condonation request to file ITR ?
Posted On : 09 January 2026
In Reply To :
Regarding Remuneration Limit for FY 2025-26
For FY 2025-26 (AY 2026-27):Deductible partner remuneration under Section 40(b) is:
On first ₹6,00,000 of book profit → ₹3,00,000 or 90% of profit;
Balance → 60% of book profit.
Prior limits (₹1.5 L/first ₹3 L etc.) are not applicable for this year.
This revised slab maximizes legitimate tax deduction for working partners within prescribed conditions.
Posted On : 09 January 2026
In Reply To :
Guidance Required on Raising Sale Invoice & E-Way Bill for Machines Already at Customer Premises
Machines already at buyer premises can be sold by raising GST invoice without e-way bill. E-way bill is mandatory only when goods move, not when ownership changes.
Posted On : 09 January 2026
In Reply To :
Guidance Required on Raising Sale Invoice & E-Way Bill for Machines Already at Customer Premises
Sale invoice can be validly raised without e-way bill since there is no movement of goods. GST is payable normally on sale value. Ownership transfer alone constitutes supply.
Posted On : 09 January 2026
In Reply To :
When a company gifts a new car to its employee.
Car gifted to employee is an employee perquisite, not company asset.It must be expensed in books, taxed in employee hands, and cannot be depreciated.
Posted On : 09 January 2026
In Reply To :
Payment of Bonus Act 1965 applicable in WB
If Basic + DA < ₹20,000 and < ₹7,000, you still compute 8.33% on actual salary.West Bengal follows the central Act; there is no separate lower cap.
Minimum bonus is always 8.33% of salary subject to eligibility.
to ₹7,000 (or minimum wage, if higher) under the Act.
Posted On : 09 January 2026
In Reply To :
IMPORT AND EXPORT OF SERVICE
GitHub services received by Indian GST registered person are import of services liable to IGST under reverse charge, with full ITC eligibility.Services provided by Indian person to foreign entity are export of services, zero-rated with refund benefit.
Posted On : 09 January 2026
In Reply To :
Rule 37BA TDS credit allowable
Yes — TDS credit is allowable even if deducted in another year.It must be claimed in year in which income is offered.
If mismatch arises, submit explanation quoting Rule 37BA.
Department is legally bound to allow the credit.
Posted On : 09 January 2026
In Reply To :
REGARDING ITR U
Yes — demand will arise for the refund already credited.No — refund cannot be retained or carried forward.
Refund will be adjusted and recovered with interest.
ITR-U always results in net tax outflow.
Posted On : 09 January 2026
In Reply To :
TRUST QUERY 9a or 10
Form 9A is for non-receipt of income.Form 10 is for accumulation of received income.
Both are not compulsory together.
Wrong or non-filing leads to loss of exemption under Section 11.
Posted On : 09 January 2026
In Reply To :
Want to zero reversal electronic credit reversal ledger
You can surrender GSTIN even if Electronic Credit Reversal & Re-claimed Statement is not zero. Only ITC ledger balance and tax liability must be cleared. No permanent reversal is required merely to nullify that statement.- Need help on Minimising Tax on Capital Gains
- Death gratuity, leave encashment, GPF etc
- TDS applicable invoice date or payment Date Which is important
- Aggregate Turnover
- GST on Old Vehicle
- Diff between "total amount paid" and "amount on which TDS to be deducted" in 26QB.
- Amount received in account which was given to sons as gift
- Investment for maturing bank deposits for a retired 66 year old person
- Guidance Required on Raising Sale Invoice & E-Way Bill for Machines Already at Customer Premises
- Subject: Guidance Required on Reporting Missed FY 2024–25 B2B Supplies and E-Invoice Non-Issuance.
- Condonation of Delay u/s 119(2)(b)
- Generation of eBRC in DGFT site for Multiple IRMs against single shipping bill with teo Invoices
- LTCG ON SALE OF RESIDENTIAL LAND
- Money returned by sons given as gift
- GST on Tobacco - as per new notification
- Cant amend a 26QB
- "Please ensure that the Total of the Deductions u/s 54F match the same in Table D in Sch CG"
- Composition Dealer GST Annual Return Filing process
- TDS under section 195.
- Filing GST Returns after death of proprietor
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