Survey was conducted under the GST. Taxpayer has declared unrecorded sale during the survey proceedings and has paid GST as well as Penalty under the GST Act. In addition to above, Taxpayer has also declared excess stock found during survey. Regular purchases has already been recorded in books of accounts. Whether the taxpayer should account for total undisclosed sales in Trading a/c and pay income tax accordingly or should account for only the gross profit on unrecorded sales in Profit and loss a/c.
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Sir, Any gst registration person sale turnover missing or suppressed and any it taxpayer sale property transaction missing or suppressed transaction found used through on AI (online platforms)technology tools found possible
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Sir, A gst registered medicines retail dealer tax rate 12 percent tax rate decrease 5 percentage from 22-09-25 Question; Dealer tax rate difference benefits itc reverse compulsory.
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sir, We Have Come To A Situation Where The Client Has Raised The GST Invoices And Purchased The Goods From The Same Party Which Was Reflecting As Purchase And Sales In One Side. On The Other Side, There Was No Cash/ Bank Transactions Involved For Such Purchases And Sales Made Whereas It Was Adjusted By A Journal By Netting Of Creditors With Debtors. Is It Allowed As Per The Accounting Standards? And In The Other Case, Creditor's "A" Balance Of Rs. 1,00,000 Has Been Adjusted With The Debtors "B" By Posting A Journal Entry Which Impacts Understatement Of Assets And…
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If turnover is 20000000 in GST and during GST raid some loose bill amounting to 8 lacs received on which client paid tax & penalty then how to show 8 lacs & that tax amount in GSTR-9 and how to report that sales in ITR & Audit report
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sir, If I purchase a new gold jewel from a jewellery by exchanging old gold jewels or gold coins or gold bars how is the gst to be charged? Should I pay GST on the total value of gold jewel or on the net value of new jewel after deducting the value of the old jewel or gold coins or gold bars handed over to the jeweller along with gst on making charges of the new jewel. Please clarify if gst is to be paid again on the intrinsic value of gold involved in making the new jewel just like…
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sir, How to report turnover from Zomato and Swiggy in the GST Composition return (CMP-08), considering they have already paid GST under Reverse Charge Mechanism (RCM) ?
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A driver, who is uneducated, had his GST number registered in his name by another person (now deceased) without his knowledge and they had obtain the authorization to operate the bank account. This person used the GST number to commit a fraud amounting to Rs. 1.5 Crore. The GST number has since been canceled, and the department has issued a notice to the driver. The driver is poor he is struggle for survival with his family. kindly give us your valuable suggest as help to this poor. Your suggestion will be highly appreciated. With Regards,
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Undisclosed sales Surrender at the time of GST Survey