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Shivam Tomar
I'm buying alot of computers through my business but my CA told me that computers comes under assets and I won't get GST credit on them, is that true?
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Dear Shivam,
GST on computer is allowable so you avail ITC on that. However to avail ITC certain other condition needs to be fulfilled like amount expended should be for the furtherance of business.
For further assistance you can reach me at ca.rahuldwivedi@gmail.com or 9004485377
Dear Shivam,
There is no distinction between goods and assets in so far as claiming ITC is concerned, save to the extent in case of disposal.
Therefore, in your case you can easily claim ITC on the said purchases.
Please advise in case of any other clarification.
Thanks & Regards,
CA Aditya Dhanuka.
+91 98365 43836
I don't think there is any issue in getting GST credit for capital asset if it's used for business purposes and you are not into a kind of business where credit is not allowed.
For more you can book consultation at: https://www.taxontips.com/gst-consultation/
C
Chirag Patel
My gst registration is cancelled, I want to reactivate my gst
Yes, your registration can be revoke. For it you are required to file revocation application.
CA Aditya Dhanuka 28 Sep 2021Dear Chirag,
You have to apply for revocation of cancellation of registration.
Please note the ministry has provided a condonation time for such application which expires on 30th September.
It would be advisable to do the needful within this time.
Please advise in case of any other clarification.
Thanks & Regards,
CA Aditya Dhanuka.
+91 98365 43836
You can file revocation application for that.
For further assistance you can reach me at ca.rahuldwivedi@gmail.com or 9004485377
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Nilesh Pagaria
I Trade In Stock Market, My Friend Has Offered Me To Take Rs 10,00,000 And Trade, In Return I Will Pay Him 15% p.a., Is That Fine (Trading Will Be Done In My Account)
Dear Nilesh,
In other way we can say that you are taking Loan of Rs. 10 lakh from your friend for that you will pay interest @15% P.A. You will trade in your Trading A/c so Gain/loss will be of yours & your friend will not be responsible for that.
The Transaction is okay but it involve huge risk, as you are taking loan at very high interest rate while your income is uncertain as the market is very fluctuating and already reached at peak. Friendly advice not to go ahead.
For further assistance you can reach me at ca.rahuldwivedi@gmail.com or 9004485377
V
Vak
For my business as a one man, I have invested into securities more than what I earned, what are the tax implications??
Dear Vak,
There are no blanket answer for your question. It depends on number of things like your earning, the amount of investment ets. It is always advisable to discuss this kind of issue one to one rather than on public platform.
For further assistance you can get in touch at ca.rahuldwivedi@gmail.com or 9004485377
The tax implication depends upon your total income earned during the financial year. For detailed discussion please connect with us at ca.pujasharma@outlook.com
K
Kiran
I earn around 30L per anum at an IT firm in TamilNadu, India. Currently under the new tax regime I am being taxed more 80,000 per month. Is there a way for me to reduce this deduction?
Yes, Tax can be planned in your case.
For detailed discussion you can get in touch with me on ca.rahuldwivedi@gmail.com or 9004485377
Yes tax planning can be made well in advance for the FY 2021-22 to reduce the taxes. For tax planning please connect with us at ca.pujasharma@outlook.com
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