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Solved Queries

Ques:919: GST Officer issued ASMT-10 having demand of approx 1 Lakh and reply filed and later GST Officer issed DRC-01 having demand value of Rs. 60 lakhs. My question is that can GST Officer increase demand value whle issueing DRC-01 for the same FY?

Ans: If drc 01 is follow up of ASMT 10 then they can’t do that. Unless they raised this issue before you in ASMT or otherwise straightway they can’t create demand. You should challenge that 

Ques: 918: Is GST registration required for sale of paintings held as personal capital investments and income tax is paid under head Capital gains on such 

Ans: Even if painting is held as capital asset unless the same is not sale as personal asset, the same will be disputable to tax. One Need to understand complete facts to final words 

Ques: 917: CONSULTING FEES FOR ORGANISING PRE-IPO PRIVATE PLACEMENT OF EQUITY TO INVESTORS HSN CODE

Ans: The consulting fees for organizing pre-IPO private placement of equity to investors should fall under HSN Code 9983, which covers “Other professional, technical and business services” including financial consultancy services and investment banking services.

Caution: The above opinion is framed based on the limited information available and merely a personal opinion. We will not be responsible for any damage or loss in whatever manner consequent to any action taken on the basis of any content of this opinion. We suggest you take a detailed opinion for better clarity based on extensive information and research thereof.

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