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Ramesh Sharma
Enlightened
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  1. CA Vishnu Ram Enlightened

    Hi, I am breaking your question into multiple pieces to make it easier to understand. Payment to Nonresident Taxable Person (NRTP) Section 2(77) of CGST Act, 2017 says that a Non-Resident Taxable Person means "any person who occasionally undertakes transactions involving the supply of goods or serviRead more

    Hi,

    I am breaking your question into multiple pieces to make it easier to understand.

    Payment to Nonresident Taxable Person (NRTP)

    Section 2(77) of CGST Act, 2017 says that a Non-Resident Taxable Person means “any person who occasionally undertakes transactions involving the supply of goods or services, or both, whether as principal or agent or in any other capacity, but who has no fixed place of business or residence in India.”

    Requirement of Registration in India 

    Section 24 of the CGST Act, 2017, required NRTP to register under GST law mandatorily five days before the commencement of the business irrespective of the minimum threshold turnover limit.

    Applicability of RCM

    Since NRTP requires the registration, he has to deposit tax in advance, equivalent to the estimated tax liability calculated on the value of taxable supply for the period for which the registration has been obtained.

    Conclusion: GST should be paid under forward charge, not under reverse charge.

     

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Ramesh Sharma
Enlightened
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  1. CA Vishnu Ram Enlightened
    This answer was edited.

    Here is the step-by-step process for making payment for TDS on immovable property. Go to the login page of the official Income Tax website (https://eportal.incometax.gov.in/iec/foservices/#/login?language-code=en) log in to your account Navigate to the "E-file" section and select 'e-pay Tax In the 'Read more

    Here is the step-by-step process for making payment for TDS on immovable property.

    1. Go to the login page of the official Income Tax website (https://eportal.incometax.gov.in/iec/foservices/#/login?language-code=en)
    2. log in to your account
    3. Navigate to the “E-file” section and select ‘e-pay Tax
    4. In the ‘New payment’ section click the “Proceed” button for ’26QB (TDS on sale of the property)
    5. Fill in three pages with the below necessary information:
    • DetaBuyer and seller basic details
    • ils of property
    • Ttax deposit details
    • Property consideration credited or paid
    • Property address details
    • Contact details
    • Residential status of the seller.

    6. Choose your preferred payment mode: ‘Pay later’ or ‘Pay Now’.

    7. Click on ‘Pay Now’ to make payment of TDS

    8. After payment, the Form 26QB acknowledgment will be generated and can be downloaded.

    9. Login as a Taxpayer on the TRACES Portal (https://contents.tdscpc.gov.in/) and generate the TDS Certificate from

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Ramesh Sharma
Enlightened
Asked: In:

  1. CA Dipali Bhatia Beginner

    The standard TDS rates for transportation charges are as follows: 1% for individual or Hindu Undivided Family (HUF) transporters. 2% for other entities. Exemptions- If a transporter owns fewer than ten goods carriages and has submitted their PAN, TDS deduction isn't necessary.

    The standard TDS rates for transportation charges are as follows:

    • 1% for individual or Hindu Undivided Family (HUF) transporters.
    • 2% for other entities.

    Exemptions- If a transporter owns fewer than ten goods carriages and has submitted their PAN, TDS deduction isn’t necessary.

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Ramesh Sharma
Enlightened
Asked: In:

  1. CA Vishnu Ram Enlightened

    There is no technical issue if an employee raises a service invoice with his company. The only thing is that it should not violate his appointment terms with the company.

    There is no technical issue if an employee raises a service invoice with his company. The only thing is that it should not violate his appointment terms with the company.

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Ramesh Sharma
Enlightened
Asked: In:

  1. CA Dipali Bhatia Beginner

    An executive director is the full-time working director of the company. They look after the affairs of the company and have a higher responsibility towards the company. A non-executive director is a non-working director and is not involved in the everyday working of the company. They might participaRead more

    An executive director is the full-time working director of the company. They look after the affairs of the company and have a higher responsibility towards the company.

    A non-executive director is a non-working director and is not involved in the everyday working of the company. They might participate in the planning or policy-making process.

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Ramesh Sharma
Enlightened
Asked: In:

  1. CA Vishnu Ram Enlightened

    A vendor registered under the MSMED Act, 2006 is called an MSME vendor. There are three categories of vendors in MSMED act which are based on their investment and turnover. Micro manufacturing and services units- Rs. 1 Crore of investment in plant and machinery or equipment and Rs 5 Crore of turnoveRead more

    A vendor registered under the MSMED Act, 2006 is called an MSME vendor. There are three categories of vendors in MSMED act which are based on their investment and turnover.

    1. Micro manufacturing and services units- Rs. 1 Crore of investment in plant and machinery or equipment and Rs 5 Crore of turnover.
    2. Small manufacturing and services units- Rs. 10 Crore of investment investment in plant and machinery or equipment and Rs 50 Crore of turnover.
    3. Medium manufacturing and services units- Rs. 50 Crore of investment in plant and machinery or equipment and Rs. 250 Crore of turnover.
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Ramesh Sharma
Enlightened
Asked: In:

  1. CA Vishnu Ram Enlightened

    Yes, TDS @10% shall be deducted from the membership fee U/s 194J. Membership fees collected by an association usually include access to managerial, technical, and consultancy services, reflecting the benefits provided to members. Consequently, such fees are subject to TDS at 10% under Section 194J.Read more

    Yes, TDS @10% shall be deducted from the membership fee U/s 194J.

    Membership fees collected by an association usually include access to managerial, technical, and consultancy services, reflecting the benefits provided to members. Consequently, such fees are subject to TDS at 10% under Section 194J.

    Exemption: where the amount of such sum or, the aggregate of the amounts of such sums credited or paid during the financial year does not exceed by INR 30000.

    As per Section 194J, professional fee means:

    (a) “professional services” means services rendered by a person in the course of carrying on legal, medical, engineering or architectural professions or the profession of accountancy or technical consultancy or interior decoration or advertising or such other profession as is notified by the Board for the purposes of section 44AA or of this section;

     (b) “fees for technical services” means rendering of any managerial, technical or consultancy services

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