Sunil
12 September 2017 at 16:46
In case of death of one partner in a two partner firm. in case a new partner is taken , will there be tax liability on the share of the firm being given to the legal heirs of new partner? will it be considered at a transfer of property to the new partner hence liable to tax ?
hetalsangoi
07 September 2017 at 16:35
in the f.y.2016-2017 project is completed . % method is followed in Books of accounts. A Buyer has given the full consideration in F.Y.16-17 Rs 30lakhs on the base of the letter of the allotment (Letter is issued in F.Y.16-17) Where there is the clause was that letter of allotment is subject to The Promoter has agreed to allot the said Premises admeasuring [●] square feet carpet area to the Allottee, at or for the price of ` [●]/- (Rupees [●] Only) (“Sale Consideration”), and subject to the terms, conditions and covenants contained in the proforma of the Agreement for Sale submitted to the Authority . Possession has not taken till Mar 2017.
There is no execution of agreement of sale and sale deed between builder and buyer. There may be a laps from the both the sides. all the service tax and vat is paid during the F.Y.2016-2017 on this deal. Project is completed in F.Y 16-17 And in the F.Y.17-18 , deal is cancelled and full amount is reimbursed . Now question is arise , to recognize the revenue under AS-9 % method , i have following queries:
1. at least 25% salable area is secured by contract or legally enforceable with buyers : can on this basis,only letter of allotment , can it considered as secured contract .
2. can letter of allotment enforceable if the situation is that builder is not willing to enter into contract then , buyer will sue the builders on the basis of letter of allotment, then can we say under situation of 1 that now letter of allotment is enforceable under law.
3. what are the recourse viable to recognize the revenue in f.y.16-17 and 17-18 ?
pl guide on this regards.
Thanks you
Abdul Jillani
06 September 2017 at 21:12
I am a contractor and works in different PSUs . I raised my bill for the period of 01-07-2017 to 31-07-2017 on 05.08.2017 through invoice. But when I enter details of invoices in gst portal for tax period as july17 then invoice date as 05.08.2017 shows error as 'date of invoice should not exceed tax period' . Kindly suggest me correct tax period and procedure.
raghavendra
04 September 2017 at 19:09
sir,
Service tax was not applicable to industrial canteen. my question is, whether GST is applicable to industrial canteen of PSU, or is this exempted for GST.
Thanks
Anonymous
02 September 2017 at 10:23
Sir,
I am small service provider and i am not elligible to obtain gst number as my turnover is below threshold limit required for registration.now the party to whom i am providing service are asking me to give them letter declaring that gst not aplicable as i have no gst registration number.
Can you help me with proper format letter for that?
JATIN
30 August 2017 at 10:26
I HAVE APPLIED FOR C FORM ONLINE FOR CAPITAL GOODS PROCURED BY ME. IN THE CST REGISTRATION CERTIFICATE THE ITEMS TO BE PROCURED HAS BEEN MENTIONED AS MACHINERY FOR CONSUMPTION.BUT THE DEPARTMENT IS DENYING FOR ISSUANCE OF THE C-FORMS.ANY JUDGEMENT / SECTION THAT CAN BE PROVIDED TO THE DEPARTMENT IN THIS REGARD.
PLEASE HELP.
Rakesh Patil
25 August 2017 at 23:34
Dear sir/madam ,
I had purchased flat in Nagpur last year, basic price is Rs. 26,19,000/-
I had Disbursed amt 25,00,000/ including service tax and vat (5.5%) , remaining amt will be paid on during possession , he also charged me amenities of amt Rs. 300,000/- ,and he had not mention any service tax on quotation on amenities,but now he is charging me 12% GST on amenities. I m refusing to give that extra charge. If there is no service tax on amenities thn y builder forcing me to pay GST .
Please suggest , if any GR is regarding this issue please provide
balaji r
23 August 2017 at 07:20
Is it correct to register a Residential Welfare Association by the owners before handing over of flats by the builders? Whether it has legal entity? Whether payments, if made for the purchases of Lifts, Glazing materials etc. can be routed through the Residential Welfare Association Account on
account of introduction of GST if we get GSTN No.? please clarify.
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Tax liability under g.s.t. on housing society r.w.a.
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