Stock broker is dealing in its own Ac in future & option of equity/currency/commodity/index through stock exchanges. Whether stock broker needs to revere the Common ITC on transaction on securities on above transaction of future & option? If yes then, how to calculate sale value of security in case of future transaction of equity & index? As per explanation value of security will be 1% of sale value of security. whether value of security is 1 % of notional sale value of securities or 1 % of net of difference between future buy & sale.? Further how to calculate value…
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SERVICE TAX ORDER PASSED RAISING DEMAND OF A PARTNERSHIP FIRM. SAID PARTNERSHIP FIRM IS ALREADY DISOLVED AND CLOSED IN YEAR 2018 AND NOT HAVING ANY RUNNING BANK ACCOUNT. Q1 - CAN THE SERVICE TAX APPEAL BE FILED WITHOUT MANDATORY PRE-DEPOSIT OF 7.5% OF DISPUTED DEMAND Q2. - IF ONE OF THE PARTNERS PAYS 7.5% OF DEPOSIT UNDER SERVICE TAX REGISTRATION OF APPELLANT PARTNERSHIP FIRM AND IF THE APPEAL SUCCEDS AND THE FIRM IS ELIGIBLE TO CLAIM REFUND - IN WHICH BANK ACCOUNT SUCH REFUND WILL BE ISSUED? Q3. CAN PARTNERSHIP FIRM/APPELLANT INSTRUCT THE DEPARTMENT TO ISSUE REFUND OF PRE-DEPOSIT ON…
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BCCI HAS CONTRACT WITH CRICKETOR WHEREIN FOR EVERY FOREIGN TOUR BCCI PAYS FOR EXAMPLE - 100 DOLLAR PER DAY AS ALLOWANCE FOR LOCAL EXPENSE INCURRED BY CRICKETOR IN RESPECTIVE COUNTRY. FOR 15 DAYS TOUR TO USA - BCCI PAY 1500 DOLLAR AS ALLOWANCE IRRESPECTIVE OF ACTUAL EXPENSE INCURRED. IF ACTUAL EXPENSE IS INCURRED LESS THAN THE ALLOWANCE GIVEN - THEN THE DIFFERENCE AMOUNT IS TRNAFSRRED IN SAVING BANK ACCOUNT OF CRICKETOR IN INDIA IN INR. WHETHER GST WILL BE APPLICABLE ON SUCH ALLOWANCE
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The assessee is engaged in plotting scheme wherein he provide common road, drainage, electricity connection and common clubhouse. The assessee sells plot of land with such above common amenity. Whether GST APPLICABLE ON SALE OF PLOT.
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As per standard practice, the service tax/GST department called for information from mining department of state (gujarat) which in turned provided list of firms (quarries) in whose name royalty is paid. Accordingly the service tax/GST department issued SCN and passed order levying SERVICE TAX ON RCM on royalty paid as per list provided by mining department . In given case, department had issued SCN and passed order in the name of “A” quarry who had taken land on lease for quarry business from mining department of the state. But in actual “A” quarry had sub-leased the whole land to “B”…
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Assessed is advisor at Max Life Insurance and during the financial year 2021-22 assessee received gross commission from Max on the business carried out by assessee was Rd. 21.25 lakhs? What are requirements under GST Act. Pl. Guide
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Assessee is a partnership firm having Diagnostic services under his brand. Now for the purpose of growth and expansion of business, has decided to invite investors and has formulated the proposal. As per the proposal, the new diagnostic center with the brand will be open in various part of city, state and other state. Entire set up of diagnostics center as well as running the said center will be responsibility of assessee firm. Investor will be paid 15% pa. of their Investment or 10% of Gross receipts of the diagnostics center in which he has invested, which is higher. Is…
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VARIOUS NOTICES HAS BEEN ISSUED BY GST DEPARTMENT FOR DIFFERENCE IN ITC CLAIMED IN GSTR 3B AND GSTR 2B FOR FY 2017-18 AND 2018-19. THE ASSESSEE HAD PROVIDED THE INVOICES AND PAYMENT PROOF TO THE OFFICER FOR SUCH INVOICES WHICH WERE NOT REFLECTED IN GSTR 2B. THE OFFICER DISALLOWED SUCH CREDIT NOT REFLECTED IN GSTR - 2B. IS THE ACTION OF OFFICER JUSTIFIED, IN DISALLOWING ITC OF ASSESSEE ON ACCOUNT OF MISTAKES MADE BY SUPPLIER. PLEASE PROVIDE THE GROUNDS AND ANY STANDARD DRAFT SUBMISSION FOR SAID ISSUE.
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Any GST is payable on corporate guarantee given to sister concern? Is corporate guarantee a service liable to GST?
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Mr. A , who lives in Gurgaon ,is a director in the company located at Gurgaon. A part from receiving Director remuneration he also receives sales commission. from the same company in which he is a director. Further, he also has GST registration in other state , where he files NIL return. Is Sales Commission received from the company will attract GST from the single amount he gets , as he is having GSTIN in the other state ?
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Reversal of GST ITC as per rule 42/43 & valuation of future option transaction