Your Queries and Our Answers

Can I buy a DSLR camera using my father’s Amazon business account who is a contractor?

By Rohit Tulshyan | April 18, 2020
Can I buy a DSLR camera using my father’s Amazon business account who is a contractor?

Hello there, Yes, You can buy DSLR Camera using someone else’s Amazon Business Account. There is no restriction on business accounts buying personal Goods. You, however, need to take care that you cannot claim GST input credit for the Purchased …

Can I buy a DSLR camera using my father’s Amazon business account who is a contractor? Read More »

If a person gets the rebate in income tax (less than or equal to 5 lakh income), does it mean he is not paying tax just as a person with income less than or equal to 2.5 lakh?

By Rohit Tulshyan | April 18, 2020
If a person gets the rebate in income tax (less than or equal to 5 lakh income), does it mean he is not paying tax just as a person with income less than or equal to 2.5 lakh?

Yes its true. Let us understand the logic behind this. Tax slabs are applicable to all, i.e. Individuals, HUF, Private Trusts, AOPS and more. Raising a Tax slab would require separate mentioned to all the assessee while raising a Rebate …

If a person gets the rebate in income tax (less than or equal to 5 lakh income), does it mean he is not paying tax just as a person with income less than or equal to 2.5 lakh? Read More »

Can a medical shop supplying MRP printed medicines be registered under composition scheme. If yes, a) can it collect MRP from customers? OR b) whether it should collect the value after excluding GST from MRP from customers?

By Rohit Tulshyan | April 10, 2020
Can a medical shop supplying MRP printed medicines be registered under composition scheme. If yes, a) can it collect MRP from customers? OR b) whether it should collect the value after excluding GST from MRP from customers?

I will first answer your queries in short and then detailed. Yes it is eligible to be registered in composition scheme provided it follows few rules That his turnover is below the threshold limit of the respective state at the …

Can a medical shop supplying MRP printed medicines be registered under composition scheme. If yes, a) can it collect MRP from customers? OR b) whether it should collect the value after excluding GST from MRP from customers? Read More »

क्या मैं अपने चाचा को ब्याज मुक्त ऋण दे सकता हूं? क्या मेरे या मेरे चाचा पर कोई आयकर के प्रभाव हैं? मैं इसे आईटीआर में कैसे घोषित कर सकता हूं?

By Rohit Tulshyan | November 24, 2019
क्या मैं अपने चाचा को ब्याज मुक्त ऋण दे सकता हूं? क्या मेरे या मेरे चाचा पर कोई आयकर के प्रभाव हैं? मैं इसे आईटीआर में कैसे घोषित कर सकता हूं?

नमस्ते,हां, आप अपने चाचा को ब्याज मुक्त ऋण दे सकते हैं लेकिन यह सुनिश्चित करें कि यह केवल बैंकिंग चैनल से हो। अर्थात, आप उन्हें बैंक हस्तांतरण के माध्यम से ऋण दे रहे हैं, न कि नकद ऋण। Tax Implications: …

क्या मैं अपने चाचा को ब्याज मुक्त ऋण दे सकता हूं? क्या मेरे या मेरे चाचा पर कोई आयकर के प्रभाव हैं? मैं इसे आईटीआर में कैसे घोषित कर सकता हूं? Read More »

Can society ask you to pay GST on maintenance charges which are below Rs 6,500 per month for commercial office space?

By Rohit Tulshyan | November 21, 2019
Can society ask you to pay GST on maintenance charges which are below Rs 6,500 per month for commercial office space?

Hi There, There are two situations which could occur, Is the turnover of your RWA (residential welfare associations) more than Rs. 20 lakhs in one year and are they registered under the GST Act? Is the Turnover of Your RWA …

Can society ask you to pay GST on maintenance charges which are below Rs 6,500 per month for commercial office space? Read More »

If I sell an item on OLX for 30,000, will I need to give a GST bill? Should I pay taxes?

By Rohit Tulshyan | August 29, 2019
If I sell an item on OLX for 30,000, will I need to give a GST bill? Should I pay taxes?

Hi there, This is a very interesting question. The answer is based on three situations:- Are you selling your personal products? Personal products include those products which you bought for day to day life usage such as furniture, electronics, vehicles …

If I sell an item on OLX for 30,000, will I need to give a GST bill? Should I pay taxes? Read More »

Do I need a GST Registration to sell Goods such as homemade chocolates on Flipkart or Amazon Online?

By Rohit Tulshyan | August 29, 2019
GST Registrations and GST return Filings

Getting GST registration could be an easy task but maintaining it requires a full-time consultant to check and complete compliances. Many sellers who are very talented are opting for their personalized creations to be sold through e-commerce platforms. This varies …

Do I need a GST Registration to sell Goods such as homemade chocolates on Flipkart or Amazon Online? Read More »

I have bought some products through aliexpress. Com I want resale same item to my client. I have GST registration. How can I issue tax invoice as product purchased don’t have GST purchase invoice from aliexpress.?

By Rohit Tulshyan | August 18, 2019
GST Registrations and GST return Filings

There is no harm in you issuing a tax invoice even if you don’t have any purchase bills. Purchase bills are required when you are claiming ITC on the product. In your particular case, There should not be any issue …

I have bought some products through aliexpress. Com I want resale same item to my client. I have GST registration. How can I issue tax invoice as product purchased don’t have GST purchase invoice from aliexpress.? Read More »

Which is the best portal or website to file GST returns?

By Rohit Tulshyan | August 18, 2019
GST Registrations and GST return Filings

Hi there, GST returns can be filed only in the GST portal http://www.gst.gov.in . I suppose you mean which GSP(GST suvidha provider) or software provider to use to file GST returns. There are various GSPs and softwares like ClearTax , computax and many other …

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Can I claim input tax credit on a product that I bought under EMI?

By Rohit Tulshyan | August 18, 2019
GST Registrations and GST return Filings

Hi there, GST is basically charged in a purchase-sale transaction. You can avail ITC on all purchase-sale transactions provided you are complying with ITC rules. However, to be able to claim this benefit, you must meet the following conditions 1. …

Can I claim input tax credit on a product that I bought under EMI? Read More »