priyanshu goyal
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taxgrid started the topic Is interest leviable if TDS is not deducted but deductee pays tax? in the forum Income Tax Queries 3 years, 5 months ago
Yes, interest is leviable in a case where TDS is not deducted but the deductee pays tax.
As per proviso to Section 201(1), the payer shall not be deemed as an assessee in default if tax is not deducted but certain conditions as mentioned in the provision are fulfilled.
Further proviso to Section 201(1A), provides that where such assessee i…[Read more]
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taxgrid started the topic Should TDS be deducted on payment for E-magazine subscription? in the forum Income Tax Queries 3 years, 5 months ago
It was raised in CIT Vs. India Capital Markets by the revenue that TDS should be deducted on E-magazine subscription and on such failure there should be disallowance under section 40(a)(ia). It was raised by revenue that such subscription was in the nature of consultative nature.
However, the said contention was not admitted and it was held…[Read more]
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taxgrid started the topic What is the definition of film artist? in the forum Income Tax Queries 3 years, 5 months ago
Rule 6F of Income Tax Rules, 1962 provides for the definition of film artist. As per the said reference,
film artist means any person engaged in his professional capacity in the production of a cinematograph film whether produced by him or by any other person, as
(i) an actor;
(ii) a cameraman;
(iii) a director, including an assistant…[Read more]
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taxgrid started the topic Notice issued under Section 148 to amalgamating company would be valid? in the forum Income Tax Queries 3 years, 5 months ago
Notice issued in the name of amalgamating company which has ceased to exist after amalgamation, wherein the amalgamation scheme was approved by the High Court, would not be a valid notice. The same was held in “Gayatri Microns ltd. v. Assistant Commissioner of Income-tax” by the High Court of Gujarat(2020). In such cases notice issued under…[Read more]
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taxgrid started the topic What is the prescribed form in which report of audit under section 142(2A) is to be furnished? in the forum Income Tax Queries 3 years, 5 months ago
Rule 14A of Income-tax rules, 1962 provides that
“The report of audit of the accounts of an assessee which is required to be furnished under sub-section (2A) of section 142 shall be in Form No. 6B”
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taxgrid started the topic In which case capital gain will arise even without transfer of asset? in the forum Income Tax Queries 3 years, 5 months ago
As per section 45(1A), in the cases where profits or gains arises from insurance claims resulting due to damage or destruction of property, there will be capital gains liability. This liability arises, even if no asset has been transferred as such.
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taxgrid joined the group Easy Ways to Farm Gold in Classic WoW 2021 3 years, 5 months ago
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taxgrid replied to the topic Missed invoice in quarterly GSTR1 in the forum GST Queries 6 years ago
Yes you can update the invoice in the lastest return you file but please note that the return for the month of September is the last return in which the invoice for the preceding financial year can be filed.
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taxgrid replied to the topic Missed invoice in quarterly GSTR1 in the forum GST Queries 6 years, 2 months ago
You can furnish details in next quarter return.
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taxgrid replied to the topic Entered wrong details of invoice in the forum GST Queries 6 years, 2 months ago
The solution was practically possible when was last used. Maybe changes in GSTN system now may have made it unviable. Will get it checked again. But issuing credit note here may make the situation messy for the counterparties involved.
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taxgrid started the topic What is meant by term Other Fertilisers in heading 3105 in the forum GST Queries 6 years, 3 months ago
Question: What is meant by the term “other fertilisers” in heading 3105?
Answer – General description of Chapter Heading 3105 reads as follows:
Mineral or chemical fertilisers containing two or three of the fertilising elements nitrogen, phosphorus and potassium; other fertilisers; goods of this Chapter in tablets or similar forms or in…
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taxgrid started the topic What is meant by bearing registered brand name in GST in the forum GST Queries 6 years, 3 months ago
Question – At several places in GST Rate Schedule, the different tax rate has been prescribed for goods “put up in unit containers and bearing a brand name”. What is the meaning of the phrase and how is it affects the registered brand name in GST.
Answer – Initially, the phrase “put up in unit containers and bearing a brand name” was used which…[Read more] -
taxgrid replied to the topic Requirement of E-way bill on self movement of goods by consumer? in the forum GST Queries 6 years, 4 months ago
The person who will generate the E-way bill can put that detail in part B
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taxgrid started the topic I forgot to take claim of input GST on rent in the forum GST Queries 6 years, 4 months ago
Question (By Sunny Salecha) – I pay GST on rent for my shop. I forgot to take claim of input GST on rent for march 2018 and have already filed gstr3b for the month of march and april 2018. Please help and provide solution?
Can I claim it now under gstr3b of May 2018?Answer – Yes ITC can be claimed in the next GSTR3B which you will be filing.
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taxgrid replied to the topic Chose the option to file Monthly return instead of quarterly return. What to do? in the forum GST Queries 6 years, 4 months ago
When you will log in for the first time for filing the return, you will be serviced with the option to change the return filing period. You can choose the option to file monthly return and proceed with filing April’s month return.
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taxgrid replied to the topic Missed Invoice in GSTR-3B in the forum GST Queries 6 years, 4 months ago
Dear Sir,
This is the common procedural error which can take place. There is no need to worry as such. Simply adjust the amount in GSTR3B of the corresponding month and remember to accordingly show the invoice in GSTR1 depending upon your return cycle whether it is monthly or quarterly. -
taxgrid replied to the topic Tax rate on agricultural implements(HSN Code – 8201) in the forum GST Queries 6 years, 5 months ago
HSN Code 8424 refers to Mechanical appliances (whether or not hand-operated) for projecting, dispersing or spraying liquids or powders; fire extinguishers, whether or not charged; spray guns and similar appliances; steam or sand blasting machines and similar jet projecting machines.
It is thus different from HSN code 8201.
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taxgrid started the topic E-way bill in Assam implemented from today in the forum GST Queries 6 years, 5 months ago
E-way bill in Assam has been implemented from today i.e. 16th May 2018 for the intra-state movement of goods. So, now stakeholders in Assam can use the E-way bill portal system for generating the waybill for intra-state movement.
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taxgrid replied to the topic Missed invoice in quarterly GSTR1 in the forum GST Queries 6 years, 6 months ago
If 2 invoices are missed out, they can be filed in next quarter.
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taxgrid started the topic Who can reject the e-way bill and Why? in the forum GST Queries 6 years, 6 months ago
Question – Who can reject the e-way bill and Why?
Answer – The person who causes transport of goods shall generate the e-way bill specifying the details of another person as a recipient of goods. There is a provision in the common portal for the other party to see the e-way bill generated against his/her GSTIN. As the other party, one can c…[Read more]
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