Hello CAClubIndia,

I've been importing goods from China and reselling in India. My sole-proprietorship firm has IEC for the purpose of commercial importation. I recently received a request from another company to import goods for them using my IEC and firm. It work like they will transfer the amount needed for the purchase to my company bank account which I will use for the purchase. Once the goods are arrived to me, I will transfer the goods to them. As the company is owned by my friend, I will skip any profit for this deal.

My question is that if this needs GST to be collected and remitted by me from the other company as there is no active sales transaction being taken place?

Also, will this put any load on my shoulders in the form of Income Tax or any other taxes immediately or later?

Please suggest a good workaround after giving answers to my questions.

Thanks in advance.

If a Din status is disqualified then can person apply for new DIN to become director in Other New Company to be formed.

OR
Else can file DIR-3KYC Form so that DIN can be activated. ?????

One of our client exported the goods with payment of IGST. But clerical mistake they filed the GSTR-1 by without payment of IGST instead of with payment of IGST. During the month of Feb.2024, they found and amended the invoices in GSTR-1, the same month regular exports also available and mentioned the exports with payment of IGST. At the time of filing the GSTR-3B, regular Exports IGST only debited in the Electronic credit ledger, the amended IGST not debited in the ECL by mistake. In this situation the Export Invoices not transferred to the ICEGATE. The refund also pending. How to debit the amended IGST in the portal. If debited through the DRC-03, they refund the same. Please clarify by the experts, how to solve this problem.

dear sir/maam
I am a student of CA Intermediate
My query is that the language both the sections 22 (turnover based registration) and 24 (compulsory registration) of CGST act,2017 indicate towards schedule 1 para 3 agents as CBIC has clarified that wherever the phrase "on the behalf of principal" is present it is to be interpreted as sch 1 para 3 agents however the circular does not mention anything specifically about "taxable supplies on behalf of taxable persons".

So which type of agents are referred to in section 22:-
1) if they are sch1 para 3 agents then section 22 and 24 conflict with each other
2) if they are not sch1 para 3 agents then section 22 and CBIC's clarification conflict with each other.

please guide and correct if I am incorrect in my understanding

SIR,
Is it mandatory to file GST-7 Nil?

WE GOT NOTICE
SUB:- Notice to return defaulter u/s 46 for not filing return and Intimation of
theProceedings U/S 62 & 83 (Assessment of Non Filer & Provisional Attachment).

For the first time we find that From 16C generated under TRACES is much lower that the Rent paid/Payable and Tax deposited as per Form 26QC.

Form 16C has picked up the rent paid after TDS for the last month and calculated tax @ 5% on that instead of the full years rent and 5% on that ? May be a part of a system change ? Has anyone else faced this ? What can be done as Form 26QC is correct ? Appreciate your help!

Number for example are monthly rent for residential Rs 1 lakh pm. Annual rent Rs 12 Lakhs. TDS deducted and deposited @5% is Rs 60,000. Last months rent paid is Rs 1 lakh less 60,000 TDS ie Rs 40,000. Form 26QC is correct but Form 16C says rent 40,000 TDS paid Rs 2,000.

Suppose Indian Private Limited company pays the payment for hire of chartered plane to foreign resident. Whether whether withholding tax/ TDS is applicable for such remittance. Kindly advise.

FY 2019-20 I had claimed ITC without mismatch (Excess / Short) . I am showning Net ITC only not bifiricated ( Debit Notes , Purchase ) directely shown Net ITC table (A-B) But tax officer not accepted please any clarificatatin , and suggations Example :- Purchase input Rs.100/- Debite not out put 50/- Net Input 50/- I had directly shown 3B table NET ITC TABLE 50/-

Dividend issued on sale of shares also,
Dividend issued on sale of shares on that day sale of shares,
My question is that Dividend can be issued on sale of shares also on that day dividend issued.

If any GST taxpayer creates a delivery challan for the supply of goods, is it mandatory to create an E-way bill?