Sir, in F. Y. 2016-17 , I received Rs. 1 lakh from LIC as survival benefit in one of my LIC policy. I have paid total Rs. 2,57,000/- as premium for last 4 financial years, under this policy. I understand that there is no profit , so I do not have to pay any tax on this Rs. 1 lakh. It is just a return of capital. Sir, Kindly confirm whether my understanding is correct ?
For a Retailer, Could i continue (successive) the Invoice numbers for both tax invoice & bill of supply (Exempted, to unregister dealer) under GST.
Example :
1122 30/06/2017 Vat Invoice Rs.1010/-
1123 01/07/2017 Tax Invoice Rs.304/- (5%,12%)
1124 01/07/2017 Tax Invoice Rs.450/- (5%, 28%)
1125 01/07/2017 Bill of supply Rs.300/- (Exempted)
1126 01/07/2017 Tax Invoice Rs.172/- (5%)
1127 01/07/2017 Bill of Supply Rs.470/- (Exempted)
...
thank you
Sourendranath de math book class11 complex number problem 5 mark 2 no. Questions. Please solve