Registration in a particular state will be provided for the principal place of business other businesses in that state will be termed as place of business/additional place of business. One place must be declared as Principal place of business, as the registration will be provided for that place only.
Please refer to your letter No. GROMA/2017-18/135 & 136 both dated 18.8.2017 on the above mentioned subject. In this regard, it is to inform you that all the queries raised are cleanly and unambiguously covered in the related statutory provisions. The desired reply to the relevant statutory provisions are mentioned point wise below against each query.
When I First saw the From 3b in rules , I taught the offsetting of liability will be Automatic as the rules Tax set-off were already in built in provisions of GST and from the same page challan would be generated and payment would be made Thus setting-off the liability.
If youre running a business youll need an accounting software that can help you with all the calculations related to tax. A taxation tool is necessary to calculate the complex taxes and their rates. Thats the reason an accounting software is required to manage all the taxation related calculations, to record all your income and expenses.
As we all know Interest receipts from loans, advances and deposits is covered under exemption list in GST. The text of exemption list is mentioned below: Exemption Notification 12/2017- Central Tax (Rate)
Diversification of investment means selecting multiple asset classes or investing in the different asset categories. It is a popular technique employed by most investors to lower risk and increase the chances of good returns. Unfolding your investment in different areas develops a risk-proof portfolio, which means if one investment fails, another will balance it out.
The Government has notified implementation of E Way Bill Rules vide notification no. 27/2017 date 30.08.2017. These rules are likely to be implemented w.e.f. 01 Oct 2017. The issue on E Way Bill is very significant, not only for business, industries but also for transporters, consignors, consignees of the goods.
Part XIII of the Constitution of India contains provisions relating to the freedom of trade, commerce and intercourse within the territory of India. The provisions are laid down in articles 301-307. Just as the Legislature cannot take away individual freedom of trade, wise versa the individual cannot barter it away by agreement.
A persual of rule 17A shows that the only requirement to seek registration under section 12A is to furnish documents evidencing creation of trust or establishment of institute in original, which assessee had duly furnished in the form of trust deed, therefore, denial of registration on the ground of registration of the society twice with Registrar of Societies, was not correct.
Bogus Purchases: If the AO has not disputed the genuineness of sales and the quantitative details and the day to day stock register maintained by the assessee, a trader, he cannot make an addition in respect of peak balance of the bogus purchases. He can only determine the element of profit embedded in the bogus purchases. On facts, the addition is restricted to 2% of the bogus purchase
