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Preeti Jha
I gave a loan of 1 cr to rakesh in 2018 and he is not able to repay me so he gave me a land of rs 1.2 cr in 2020..how much and on which amount tds will deduct?
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Dear Preeti,
TDS is applicable on transaction value, in you case transaction value is Rs. 1 Crore so TDS will be applicable on Rs. 1 Cr. Please also note that if land is agriculture land in that TDS is not applicable.
For Further Clarification you can get in touch at ca.rahuldwivedi@gmail.com or 9004485377
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Chnadra Prakash
One of my client is Government contractor, he makes sports field and other sports & fitness related jobs
He got a contract of Open Gym Equipment’s with rubber tiles flooring and installation From Different Government The input required for completing this contract are following items with their GST rate mentioned: -
S. No. Items Name GST Rate
1 Square Rubber Tiles – Flat @ 18%
2 Rodi (Grit) @ 5%
3 Stone Dust @ 5%
4 Cement @ 28%
5 Steel @ 18%
6 Open Gym Equipment’s @ 18%
What is the GST rate, my client should charge the department for the bill after finishing contract?
Dear Prakashji,
Based on your query, it is understood that your client is offering works contract services and he should therefore accordingly charge 18% GST.
Please advise in case of any other clarification.
Thanks & Regards,
CA Aditya Dhanuka.
+91 98365 43836
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Shivanshu Pal
I have purchased a laptop and invoice is gst invoice but i forgot to mention company name on the invoice but gst number is there and name and billing address in invoice is my address instead of company name and address.
Can i claim Input Tax Credit? If yes,will there be any legal consequences?
Dear Mr. Pal,
please check is it reflecting in your 2A/2B if answer is yes then you can claim else not.
yes.
CA Aditya Dhanuka 24 Sep 2021Dear Shivnashu,
In reference to your query, in so far as the ITC is reflecting in your 2B you may claim the ITC.
Legal consequences, if any, would arise only if your file falls under departmental review and the said invoice is highlighted by the personnel. Otherwise, for small procedural errors, it is not a matter for concern.
Please advise in case of any other clarification.
Thanks & Regards,
CA Aditya Dhanuka.
+91 98365 43836
Thanks sir
CA Deepak Kucheria 25 Sep 2021Strictly speaking, in order to avail ITC the recipient must possess the Tax Invoice which should have been prepared by incorporating the particulars mentioned in Rule 46 of CGST Rules and it specifically requires Name of the recipient as well. In absence of it, the invoice becomes a defective invoice basis which ITC can easily be denied by the department. It is advisable to contact the vendor and get the Name incorporated in the invoice to avoid any litigation. For more information, kindly connect with us at deepakkucheria@gmail.com or +91-9911744028.
T&C applyS
Shubham Jaiswal
My firm is registered in Uttar Pradesh with GST number.I want to trade in West Bengal with GST number registered in Uttar Pradesh..Is there any problem regarding the same if Trading is done in West Bengal regarding any issue?
Dear Shubham JI,
Yes & No both situation can be possible in you case. To advise correctly required detailed discussion with you.
You can reach me at ca.rahuldwivedi@gmail.com or 9004485377 for further discussion.
Dear Shubham,
In reference to your query, in so far you trade in WB from your registered place in UP and raise invoices therefrom, there would not be any issues or loss of any taxation in your part.
However, should you choose to have an establishment in WB through which you propose to conduct your business, then taking registration is advisable so as to avoid any tax leakage.
Please advise in case of any other clarification.
Thanks & Regards,
CA Aditya Dhanuka.
+91 98365 43836
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Alok Sharma
Hey! I'm an online seller on platforms like meesho, flipkart and amazon. I sell shoes on these platforms. All of them are under Rs1000. What should be the applicable tax rate for these shoes?
Dear Alok,
5% GST rate is applicable for footwear having a retail sale price up to Rs. 1000 per pair.
Please advise in case of any other clarification.
Thanks & Regards,
CA Aditya Dhanuka.
+91 98365 43836
Currently 5% GST rate is applicable on footwear below INR 1,000. However, the rates may rise basis the recommendation of recent GST council meeting to cope up with the issues of Inverted Duty Structure. For more information kindly connect with us at deepakkucheria@gmail.com or +91-9911744028.
T&C apply
