In Reply To :

GSTR-3B due date for May 21

If turnover is less than Rs. 5Crs?

Issue of diesel to sub-contractors

If we issue diesel to sub-contractors, the amount of which will be recovered from vendor including GST against bills submitted by him. Below are the questions:
1) Can I raise debit note for the same to vendor
2) Would GST be applicable on that debit note? If yes, at what percentage
3) Can vendor claim ITC on the basis of debit note?
4) Is GST mandatory on issue of diesel, can I issue diesel without charging GST?

In Reply To :

Hamali / Loading & Unloading Charges Payment entry

Thank you so much for your reply sir, amount is directly paying to labours and such amount is exceeding 1,00,000 for a year per one labour then we deduct TDS or not? Please clarify me sir? What is the TDS impact on Lorry freight i.e. lorry freight charges exceeds 50,000/- per one trip and we obtaining declaration / affidavit certificate from lorry owner that he has a less than 10 vehicles and no TDS certificate . But the same lorry repeats for the firm for so many times per a year ( roughly monhly 2 or 3 times). Then what is TDS effect?

In Reply To :

Head of Prior Period Exp

You may either create an account as such, that is as prior-period expense or the one followed by the nature of expense.
For example: In case of P&S, you may create an account by name "prior-period P&S expense".

In Reply To :

DEAD STOCK

after click revocation of cancelled registration we have got this msg "'Application for Revocation of Cancelled Registration' cannot be filed after 180 days from date of Cancellation order." pls clarify

In Reply To :

Long term capital gain on plot

If the purchase agreement mentioned equal share for both the brothers then the purchase cost plus Registration Cost/2 is each brother acquisition cost. Apply indexing on this cost .50% of Sale value minus the index cost of acquisition is LTCG

In Reply To :

DEAD STOCK

after all return & payment done

In Reply To :

What Audit evidence should be collected for travel allowance given to employee

Vehicle details , Invoices for Fuel, Driver details , Garage Bill and supporting for the expenditure incurred.

In Reply To :

Gift Deeds Drafting

Cash Gifts not allowed. For Gift through Cheque from Father Registration is not required.

Head of Prior Period Exp

Dear All,

Please confirm Head for Prior Period Exp.

Thanks in Advance.

DTAA with Singapore query

We have taken a consultancy service from Singapore. The Service value is more than 10 Lac. Can we not deduct TDS as if there is any Treaty between INDIA and Singapore for not to Deduct TDS.
Please Guide

Gift Deeds Drafting

Is it necessary to register a cash gift deed received from parents ?
Is Rs.100 stamp paper enough to draft a cash gift deed of about Rs. 15 lakhs to Rs. 30 lakhs.

Cash deposited in PPF Account

A women received payment in cash Rs. 50,000 for religious teachings which she directly deposited cash in PPF Account instead of depositing first in her savings account. Does she need to show in her Income while filing the returns? Thanks 🙏🏻

GST Exemption on equipment used for covid treatment

Dear sir,
I need suggestion based on recent changes in GST rate for covid support related product.
Kindly advise if ICU/Mobile unit mfg for covid treatment is having any exemption or lower rate of gst.
if yes, provide me details.