Sebi offers a way over FPI tax rule hurdle
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| Que. Id | Date | Description |
|---|---|---|
| 19512 |
Jan. 03 2019 |
RCM On Security Services –
(GST)
From 1.1.19 Security Services have been brought under RCM u/s 9(3). Queries as below: 1. Is it mandatory RCM (i.e. security agencies cannot opt for Forward charge even if they are registered)? -- Appears to be mandatory RCM 2. What would be the position of Invoice raised on 1.1.19 for security services supplied in Dec 18. If Section 14 rationale is used, since Invoice and Payment both come after 1.1.19, Invoice will be subject to RCM GST and not forward charge GST BY: Gaurav S Kenkre No answers yet View Answers | Post Answers |
| 19507 |
Dec. 31 2018 |
Gains from Option Trading –
(Capital Gains)
Whether gains from Trading in options can be offered under capital gain? As per sec.2(14) capital assets means "Property of any kind held by an assessee". I feel option fits within this definition. Members views are solicited. BY: SANTHANU R No answers yet View Answers | Post Answers |
| 19508 |
Dec. 31 2018 |
Sec 56(2)(VII) gift of rural agriculture land –
(Income from Other Sources)
A sold his rural agricultural land to B for Rs 45 lacs the circle rate of the land is 65 lacs A & B are not "relative" to each other the question is whether Difference of Rs 20 Lacs ( Circle Rate - Actual Consideration) will be taxed in the hand of B ? or the transaction will be out of purview of 56(2)(VII) as land in question is not a capital assets U/S 2(14) ? BY: CA. SHARMA RAJESH CHANDRA No answers yet View Answers | Post Answers |
| 19502 |
Dec. 29 2018 |
Name Reservation in CRC –
(Companies Act, 2013)
I have applied for a Name reservation of a existing Nidhi Company. CRC has rejected the same with remarks "NOC from concerned regulatory authority has to be obtained". But in the Companies Act 2013, nowhere it has been mentioned that NOC for Name reservation has to obtained. I have raised the ticket asking CRC to quote relevant provisions in the Act. But their reply is not appropriate. How to escalate the issue or solve this issue? BY: SANTHANU R No answers yet View Answers | Post Answers |
| 19504 |
Dec. 29 2018 |
240554 –
(GST)
Incase of cable tv and internet operation, whether the GST is levied by ISP directly to Customer or it should be pass thru MSO and LCO? BY: Sai Ram No answers yet View Answers | Post Answers |
| 19505 |
Dec. 29 2018 |
240554 –
(GST)
A GST registered dealer, Proprietor, engaged in imparting technical training. He, in his personal capacity entered into a agreement to purchase a under construction flat and paid GST (since purchased in personal capacity, input is not shown in 3B or availed). Still the property is under construction and he likes to sell the right in property for a profit of 21L. whether the sale transaction attracts GST? BY: Sai Ram No answers yet View Answers | Post Answers |
| 19497 |
Dec. 28 2018 |
SURRENDER OF GSTIN –
(GST)
I HAVE APPLIED FOR SURRENDER OF GSTIN TO WHICH QUERY HAS BEEN RAISED WHICH HAS BEEN ANSWERED SATISFACTORILY. HOWEVER, SAME HAS NOT BEEN TAKEN UP FOR REVIEW BY OFFICER. WHAT IF SAME IS NOT REVIEWED WITHIN DUE TIME BY OFFICER. WHETHER CANCELLATION CERTIFICATE WILL BE GENERATED AUTOMATICALLY OR MY APPLICATION WILL BE CANCELLED. KINDLY REVERT BY: RAJIV CHINUBHAI MEHTA No answers yet View Answers | Post Answers |
| 19489 |
Dec. 19 2018 |
Form 61A –
(DIRECT TAXES)
On of foreign company has invested in Indian private Limited company as FDI. We have filed form 61A . The foreign company does not have PAN No in India. There is error report coming saying PAN no required but foreign company does not have PAN card. Please advise to rectify it or can we dummy PAn and what is the pattern we should used. BY: Shiv Mahajan No answers yet View Answers | Post Answers |
| 19485 |
Dec. 17 2018 |
Treatment of Common Credit in case ITC –
(GST)
What is the provision regarding Reversal of Common credit of ITC under Rule 42 & 43 in case a supplier supplies both Taxable Supply and Exempted Supply ? Whether reversal to be done monthwise or annually because use of raw materials in on going process but ITC is claimed in the month goods are received ? BY: Gaurav Kumar Baranwal No answers yet View Answers | Post Answers |
| 19480 |
Dec. 12 2018 |
TAX AUDIT –
(DIRECT TAXES)
A client is having following incomes in FY 2017-18 :- Salary - 440000 Interest - 90000 F&O Business - (250000) loss Whether he is liable for Tax Audit u.s 44AD? Which ITR form is applicable for AY 2018-19? Read more at: https://www.caclubindia.com/forum/tax-audit-applicability-u-s-44ad-and-itr-form-applicability-488437.asp BY: Akshika Dhingra No answers yet View Answers | Post Answers |
| 19481 |
Dec. 12 2018 |
GST ON EXPORT TO NEPAL –
(GST)
My client want to export some goods to Nepal ,whether this will come under zero rated supply or igst will charge . BY: Ajay Pandey No answers yet View Answers | Post Answers |
| 19478 |
Dec. 10 2018 |
Reverse Charge Mechanism –
(GST)
If Business entity is unregistered ( since turnover is less than Rs 20 lakhs and availing services of advocates, then will it be liable to take registration and pay tax for this single transaction ? BY: samirkumar gokulbhai kasvala No answers yet View Answers | Post Answers |
| 19476 |
Dec. 07 2018 |
GST registration req. –
(GST)
A person has an export service for around 10 Lakh in a FY.So he has to register under GST u/Sec.24.The same person is running a resort service with 4 lakh p.a.Then whether his resort service will also have to be registered/come under GST since he is liable to register because of export. ie whether every line of business has to be registered even if his aggregate TO is less than 20Lakh but he has to take registration u/Se.24 for any one type of business? Also, whether registration under export of services or goods is compulsory u/sec24 if he doesn't want to claim input credit? BY: AJESH V JOHN No answers yet View Answers | Post Answers |
| 19477 |
Dec. 07 2018 |
ITC reversal in case of conversion of firm to company –
(GST)
A firm is converting into a company. It will transfer stock to the new company. It has substantial ITC on that stock. As per exemption notification, "Services by way of transfer of a going concern" are exempt services. Will this mean that firm will have to reverse ITC? ITC only on expenses of transfer or entire ITC on stock will have to be reversed? BY: Gaurav S Kenkre No answers yet View Answers | Post Answers |
| 19474 |
Dec. 06 2018 |
Liability to GST audit –
(GST)
Dear Colleagues, An NBFC has interest income of Rs 10 crores and loan processing fee of Rs 1.50 crores. Is it Liable for GST audit? Is interest income a part of turnover? BY: Prashanth Karanth No answers yet View Answers | Post Answers |
| 19469 |
Dec. 02 2018 |
Reverse charge on GTA service for proprietorship concern –
(GST)
Whether Service availed by a Proprietorship concern is also covered in RCM i.e whether it also has to pay reverse charge BY: Mahesh Kumar No answers yet View Answers | Post Answers |
| 19466 |
Nov. 26 2018 |
Input Credit on Insurance and Repair of Vehicle –
(GST)
Is the Credit of GST paid on Insurance and Repair expenses available to a registered person who is not dealing in the vehicle trading? BY: SK No answers yet View Answers | Post Answers |
| 19465 |
Nov. 25 2018 |
ANNUAL RETURN –
(GST)
IF THERE IS DIFFERENCE IN SALES/TAX LIABILITY/ITC IN BOOKS OF ACCOUNT AND GST RETURNS I.E. GST3B AND GSTR1 SUBMITTED. HOW THIS DIFFERENCE BE REPORTED IN CGSTR9 . AS IN GSTR 9 ALL AMOUNT ARE TAKEN AS PER GST1 /GST3B AND THERE IS NO RECONCILIATION REPORTING IN GSTR9 BY: SHYAM SUNDER No answers yet View Answers | Post Answers |
| 19464 |
Nov. 23 2018 |
TAXABILITY OF COMPENSATION FOR ACQUISITION UNDER RFCTLARR ACT –
(DIRECT TAXES)
COMPENSATION HAS BEEN RECEIVED ON ACQUISITION OF LAND BY GOVT FOR VALUE OF LAND AND BUILDING.WHILE NO TDS HAS BEEN DEDUCTED ON LAND VALUE ,TDS HAS BEEN DEDUCTED ON COMPENSATION VALUE OF BUILDING U/S 194LA.ALSO ON 100% SOLATIUM ON BOTH LAND AND BUILDING NO TDS DEDUCTED.ADVICE WHETHER COMPENSATION PORTION THAT RELATES TO BUILDING IS EXEMPT FROM INCOME TAX OR NOT BY: vikas kalra No answers yet View Answers | Post Answers |
| 19462 |
Nov. 20 2018 |
108293 –
(GST)
One of my client is film producer. He is registered under GST. He incurred expenditure to produce the film and availed ITC. He also collected GST from sale of rights of film. At present , the scenario is that there is balance in ITC since previous four months and he is going to stop his business. My query is that whether he can claim refund of balance in ITC? BY: ATUL MUKUNDLAL TOSHNIWAL No answers yet View Answers | Post Answers |
