A
Anant Singh
Dear Sir,
There is a query in respect to availing and utilizing input credit of CGST, SGST & IGST
I want to understand that if Input of CGST&SGST can be availed and utilized to offset against IGST
To be more specific:
Case 1 .
We are a Event and Travel Management company incorporated and registered as a PVT LTD company in Delhi. with GST registration in Delhi.
We are booking Hotel Rooms for a corporate client for 3 Days in GOA.
This assignment is through an Event Management Company, in this we are only doing hotel room booking
We have negotiated a rate from hotel and further selling it to event management company with a markup. we shall receive the payment through event management company
Hotel will bill to us e.g., Rate at X + GST (@18%)
We will further charge the event management company at a rate of (X + Y) + GST (@18%)
The event management company is also registered in DELHI and the client is also registered in DELHI
Query.
1. Can we avail the input credit of CGST +SGST from the invoice raised by the hotel and utilize it against to setoff IGST to The Event Management company.
2. If availing CGST & SGST and utilizing against IGST is specifically restricted for hotel/immovable property or is it for the supply of goods also
Case 2
We are a firm registered in Delhi and procured goods from a vendor registered in Delhi and got an invoice of CGST & SGST
Now we have a client in Uttar Pradesh and we supplied him the same goods with a marked-up price at its office in Uttar Pradesh and charged IGST
Please suggest can we avail the input of CGST & SGST to offset it against the IGST
Requested kindly suggest,
Thanks & Regards
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In Case 1 you can’t avail the input for CGST & SGST, as the place of supply is GOA i.e. Where the hotel is situated.
And in case 2 you can avail the input.
For more assistance, Feel free to call
Mob. No. 8699799959
S
Sangamesh S K
I am working in a private nursing home with 2.5 lakh per month salary. I get 2.25 lakh in hand after 25k tax deduction. How much tax i need to pay at the year end?
Dear Sangamesh,
First of all we needs to understand are they paying salary or professional/consultation fees ? It seems that they are paying consultation fee to you and deducting TDS @10% i.e. Rs. 25k. If this is the case then tax working will be different and we can plan you tax in different ways. And in case if they are paying salary to you (Most probably they will not pay salary) in that case your entire tax will be deducted by the Hospital, however we can also do some tax-planning in that case.
For further consultation you can approach us at ca.rahuldwivedi@gmail.com or 900448537
O
Om
I joined IT company in june 2022 then for which year i can start filling ITR or can i fill zero ITR for 2022?
Yes
You can file nil return for F.Y 2021-22 till 31st December,2022 with zero late fees.
Otherwise you are liable to file ITR for FY 2022-23.
For more assistance, feel free to call
86997-99959
Dear Om,
You joined company in June-2022 so you so you are required to file ITR for the FY 2022-23.
For FY 2021-22 you are not liable to file ITR, however if you wish you can file.
For further consultation you can approach us at ca.rahuldwivedi@gmail.com or 900448537
S
Sidhant Gupta
Hi!
I want to purchase equity in early-stage private companies globally for investment purposes. I am based in India.
Crowdfunding platforms like Wefunder[1] and Republic[2] (based in the US) allow doing this. The company I am trying to invest in specifically is Fathom[3] (some financial/legal information about the company can be found here[4] and their filing with the US SEC can be found here[5]).
However, my bank cannot process the payment, citing that "Remittance to this beneficiary is prohibited under RBI regulations". I have verified that this is a safe platform and want to make my investment anyways.
My questions are:
1. Is it legal in India to make such investments?
2. What kind of proof should I collect in order to keep a record of my investment?
3. What is the tax implication of this investment? (For the FY of investing and for the FY of claiming returns)
4. I am now planning to make this investment via a friend in the US who can transfer the money to the platform and I can then transfer it to them (as a personal transaction). Is this method of paying for the investment legal?
[1]: https://wefunder.com/explore
[2]: https://republic.com/
[3]: https://fathom.video/
[4]: https://wefunder.com/fathomvideo/details
[5]: https://www.sec.gov/Archives/edgar/data/1947790/000167025422000980/0001670254-22-000980-index.htm
Thanks for reading.
Regards,
Sidhant Gupta
R
Robin Koul
SIR GOOD AFTERNOON, I HAVE PURCHASED A RESIDENTIAL PLOT FROM JAMMU DEVELOPMENT AUTHORITY ON LEAE TERM BASE FOR 30 YEARS AGAINST PREMIUM AMOUNT OF RS. 35 LACS , APART FROM THAT AS PER OUR LEASE AGRREMENT I HAVE TO PAY ANNUAL GROUND RENT F@8900 PER ANUM , FOR WHICH THEY ARE CHARGING GST @18 %. MY QUERY IS CAN THEY CHARGE GST ON MY GROUND RENT.
THANKING YOU IN ANTICIPATION
ROBIN
7006575640
Dear Robin,
Long term lease is not sale and hence GST is applicable on it.
For Further Consultation you can approach us on ca.rahuldwivedi@gmail.com or 9004485377.
