sir, I am dealing in second hand car and sold Eight car each valued Rs 6 lakh. And cost of each car is Rs 5 lakh. Gross Sales is Rs 48 lakh (6x 8) and value addition is only Rs 8 Lakh (1x8). As the Gross Turnover is above Rs 48 lakh which is above Rs 40 Lakh. Is liable for GST registration or turnover will be considered only 8 lakh as per rule 32(5), so not liable for registration. Please clarify it. If liable for registration. The GST will be 18% of 800000=144000 or by formula 800000x18/118= 122034
► Read Answer
AN INTERMEDIARY CREATE A WEBSITE FOR DOCTORS AND PATIENTS WHO CAN REGISTER ON IT FOR ONLINE CONSULTATION. THE FEES FROM PATIENTS COLLECTED BY THIS INTERMEDIARY AND DISTRIBUTE IT TO DOCTORS. THE INTERMEDIARY GET CERTAIN PERCENTAGE OF COMMISSION ON SUCH FEES. PLEASE ADVISE THE GST IMPLICATION AND TYPE OF REGISTRATION REQUIRED
► Read Answer
sir, Q. Is GST Registration Applicable? If Retail Trader having Annual Turnover against sale of Taxable goods below 40 Lakhs but receives Shop Rental Income Rs 24000 Annually (Showing in Income Head - Income from House Property) If Retail Trader having Annual Turnover against sale of Tax Free goods below 40 Lakhs but receives Shop Rental Income Rs 24000 Annually (Showing in Income Head - Income from House Property) If Retail Trader having Annual Turnover against sale of Taxable goods below 40 Lakhs but receives House Rental Income Rs 24000 Annually (Showing in Income Head - Income from House Property) If Retail Trader Having Annual Turnover against sale of Taxable goods below 40 Lakhs but…
► Read Answer
For FY 23-24 - Turnover Rs 1.50 Cr. Showed 15% Profit. Filed ITR 4. In FY 24-25 - Turnover Rs 90 Lakh. Ready To Prepare PL And BS Fully And File ITR 3 With Full Disclosure. Profit 15%. Should The Client Do Audit In FY 24-25?
► Read Answer
Dear Experts, An assessee did not reply to any notices issued in the course of assessment proceedings under section 147, so the order was passed ex parte under section 147 read with section 144. Whether all the evidences the assessee shall attach in Form 35 for appeal before CIT (A) shall be regarded as additional evidence as the assessee did not submit any evidence during assessment proceedings ? Whether an application for admission of additional evidence in terms of Rule 46 A is required in case of Appeal before CIT(A) against order under section 147 read with section 144?
► Read Answer
Dear sir This is to inquire about the article I submitted titled, "Transactional net margin method- bridging theory and practice" by Disha Deopura with ITATOnline. The submission was made after complying with all the guidelines. However, I am unable to check whether it is published yet. I would obliged if you could look into the matter at earliest perusal. Thank you
► Read Answer
sir, The it tax payer purchases of new land purposes confirm sufficient money in filed itr returns. Question: Assessee how the check procedure in it returns.
► Read Answer
Greetings of the day to Authorities, In reference to Vivad se Vishwas Scheme 2024, I applied for this scheme with Form 1, Against Which Form 2 has been generated and we paid amount in Form 3 as well. After that payment and submission at portal of income tax since last two months, I am waiting and continue status reflecting is "Awaiting form 4 Signed copy from CIT" How long it would move further, if any body has idea about this form 4 Time of approval , please let me know at my following email id...dinesh.kumar53@yahoo.com
► Read Answer
Sir, A individual taxpayer doctor sec 44ada provision itr returns filed purchase of silver and gold jewellery transaction rs:5 lacs two times f.y.24-25 Question: Assessess purchase of silver and gold jewellery transaction how many times for one financial year and how much value investing in one financial year it act.
► Read Answer
Sir, It assessee's wedding expenses rs:15 lacs for the purpose of daughter's marriage purpose f.y.24-25 paid. Question: 1.Assessess wedding expenses amount any limit provision applicable and wedding expenses business expenses claim allowed in it purpose 2.wedding expenses debit to capital account or profit and loss account
► Read Answer
2nd hand sales goods