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Que. Id Date Description
38161
May, 24
2019
GST - ( GST ON SERVICE PROVIDED BY ONLINE HEALTH PLATFORM OR E HEALTH SERVICES PROVIDED BY INTERMEDIAR )

A Intermediary registered in the form of company providing a online platform by the way of providing the application and communication device that enables a potential patient to connect with the suitable doctor or in other words we can say that provides a online health platform through which patient get connected with the doctor . The company ( Intermediary) is raising the invoice on behalf of the doctor to the patient and it did not charge any GST on bill with the clear instruction on bill that “ this bills is issued by the health care service provider not the by the intermediary , and since the GST on health care service provider is exempt under GST therefore no GST is collected and remitted by the intermediary company as the said service is exempt under GST .” That means here intermediary company only providing the online plat form through mobile application and remit the entire amount received from the patient to the doctor and then receive some consideration from the doctor for providing such services . Now the issue is whether the said service provided by intermediary company to the doctor is health care service or not i.e is its is not a health care service then the service provided by intermediary company will be classified under which head and what the gst implication on the said transaction . Please give clarification about the same

BY: DEEPTI DHAKAD

Total Answers : 0 | View Answers | Post Answers

38162
May, 24
2019
DIRECT TAXES - ( VALIDITY OF NOTICE ISSUED U/S 263 OF IT ACT. )

Dear Friends, please clarify on the following:- An assessee filed his return of income claiming exemption U/s 54F of IT Act on sale of his vacant land by investing in a residential property. The assessment was processed U/s 143(1) of the IT Act. Subsequently he was issued notice U/s 147 based on AIR information. The assessment was completed U/s 143(3) accepting the Return filed and also the exemption U/s 54F. Now, based on Audit Objection PCIT has issued notice U/s 263, setting aside the Assessment and directed the AO for re-assessment to deny exemption U/s 54F stating that the assessee has owned more than on residential house The AO has started the reassessment proceedings Please advise whether the reassessment proceeding is valid in view of reopening notice issued U/s 147 and assessment completed accepting the return. Whether any case laws are available in this regard. Whether we can object the assessment itself or appeal before CIT (A).

BY: RAMAN

Total Answers : 0 | View Answers | Post Answers

38160
May, 23
2019
GST - ( NON EFFECT OF AMENDMENT IN GSTR1 )

Assessee had opted for quarterly filing of GSTR1 in fy 2018-19. Erroneous excess B2C sales of Dec'18 was effected in Mar2019 GSTR1 by modifying the figures of Dec.18, but the effect of the same was not reflected in return. Owing to the same SMS for demand in differential liability was raised. How to resolve the issue?

BY: SURAJ KUMAR CHOUDHURY

Total Answers : 2 | View Answers | Post Answers

38159
May, 22
2019
GST - ( AMMENDMENT OF DIFFERENCE )

How to amend the difference of Rs.393000 arising from submission of GSTR3B & GSTR1 for the FY:2018-2019

BY: CA Goutam Kar

Total Answers : 2 | View Answers | Post Answers

38157
May, 21
2019
DIRECT TAXES - ( HOW DOES CLUBBING ENDS? )

If a husband has given a gift of Rs. 10 Lakhs to his wife for business, income from such business will be clubbed in the husband's hands. Now if he wants to end this clubbing, how can the same be done?

BY: Badlani

Total Answers : 3 | View Answers | Post Answers

38158
May, 21
2019
TDS/TCS - ( TDS RETURN FOR Q4 --- ACKNOWLEDGEMENT OF PREVIOUS RETURN I.E. Q3 NOT AVAILABLE )

For Filing TDS return for Q4 , Token number of previous return i.e. Q3 is required and it is not available with the clients . So how to file Q4 return ?  Thank you

BY: samirkumar gokulbhai kasvala

Total Answers : 2 | View Answers | Post Answers

38152
May, 20
2019
OTHER BODIES - ( ETHICS - ICAI )

CAN A COP HOLDER CHARTERED ACCOUNTANT CAN DO INTRADAY (SHARE TRADING) TRANSACTIONS?

BY: JENIL PRANAYKUMAR SHAH

Total Answers : 3 | View Answers | Post Answers

38153
May, 20
2019
GST - ( WHETHER IT IS JOB WORK ? )

if job worker is doing job work by carrying out his machinery and though his workers but in the premises of Principal it self , then whether this amounts to job work ?? , and if yes then how ITC - 04 can be filed ? because we do not have delivery challan - transportation - truck number , as goods are not moved from principal's factory.(Need less to mention that definition of job work u/s 2(68) dose not contain clarification that whether movement of goods are required or not )

BY: parth

Total Answers : 2 | View Answers | Post Answers

38154
May, 20
2019
DIRECT TAXES - ( TDS CHALLAN ADJUSTMENT )

We have deposited TDS mentioning Ass Year 2019-20 Can We use this challan for ass Year 2020-21 also

BY: Mahesh Kumar

Total Answers : 4 | View Answers | Post Answers

38155
May, 20
2019
GST - ( INPUT CREDIT )

While filing July 17 GSTR 3B An Asessee had put Purchase figure around 6 Lac in IGST Input . On finding his mistale he inflated Output Liability for aug 17 by same figure. now Input Credit is being shown in GSTR 9 figures at inflated figure of 6 Lac. How to rectify the mistake as this figure is not editable

BY: Mahesh Kumar

Total Answers : 4 | View Answers | Post Answers

38156
May, 20
2019
TDS/TCS - ( 108293 )

A medical practioner's society is arranging conference in a five star hotel. It is collecting Rs.10000 per participants for conference. Further it is arranging accommodation facility for participants at various hotels in a city and collecting amount as per standard of hotel. My query is whether TDS is applicable for payment to five star hotel for conference and payment to various hotels for accommodation. If yes at what rate

BY: ATUL MUKUNDLAL TOSHNIWAL

Total Answers : 1 | View Answers | Post Answers

38150
May, 18
2019
AUDIT - ( REGARDING PROVISIONAL BALANCE SHEET )

1. Can a Chartered Accountant Sign a Provisional Balance Sheet? 2. If yes, Is UDIN to be generated for the same? 3. If not, what is documentary proof to be given to client to satisfy his needs. My client needs Provisional Balance Sheet as on March 31,2019 in order to apply for one of the tenders. 4. Please Advise as early as possible because tender is time bound.

BY: Ravinder Agrawal

Total Answers : 6 | View Answers | Post Answers

38151
May, 18
2019
GST - ( DIFFERENCE IN INPUT CREDIT WITH GSTR 2A )

If a person has claimed Input credit on transport service for a few months but not paid reverse charge, In such a scenerio ,Can he correct the figures of input in GSTR 9 and pay tax due from IGST Credit ledger

BY: Mahesh Kumar

Total Answers : 3 | View Answers | Post Answers

38148
May, 17
2019
GST - ( INPUT IN GST )

WHETHER INPUT CAN BE CLAIMED ON INTERIOR DESIGN? PLEASE SPECIFY THE ANSWER WITH SECTION.

BY: CA Neha Gupta

Total Answers : 4 | View Answers | Post Answers

38149
May, 17
2019
GST - ( GST ON CAPITAL GOODS )

Whether GST Input on capital goods can be taken in a single month or 60 Installments? 60 Installments applicable only when there is exempted turnover is there i.e., 42 or 43 rule? Also if we have to take on installment basis, while filing GSTR 3B liability is not offsetting with IGST when CGST and SGST credit available for payment of CGST and SGST output, which results in difference between books and credit ledger of GST.

BY: VINAY BHARGAV KUMAR G

Total Answers : 2 | View Answers | Post Answers

38146
May, 16
2019
GST - ( GST REGISTRATION WRONG JURISDICTION )

Sir, At the time of registration, we have selected wrong jurisdiction. How do we change the jurisdiction wrongly selected?

BY: SANTHANU R

Total Answers : 4 | View Answers | Post Answers

38147
May, 16
2019
MISC. - ( SOLUTION FOR EXAMINATION PAPER LEAKS )

Hi All, A company in which I am a director has a patent - pending technological solution to the problem of Examination paper leak. They hope to implement the solution with ICAI, does anyone know what's the procedure for the same?

BY: Prajwal P A

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38145
May, 15
2019
GST - ( GST REGISTRATION )

THANKS A LOT KHANDELWAL SIR TO ANSWER MY QUERY NO 38142. SIR I WANT FURTHER CLARIFICATION REGARDING NOTIFICATION NO. 05/2017 - CENTRAL TAX DATED 19/06/2017 THAT TURNOVER LIMIT IS NOT IMPORTANT FOR PERSON MAKING ONLY SUPPLIES OF TAXABLE GOODS/SERVICES WHICH ARE COVERED BY RCM U/S 9(3). IF TURNOVER IS MORE THAN 20 LACS FOR SERVICES COVERED UNDER SECTION 9(3) THAN ALSO NOT REQUIRED TO OBTAIN REGISTRATION AND/OR CAN SURRENDER GST REGISTRATION? THANKS IN ADVANCE

BY: CA. TASWALA MAYUR HEMENDRA

Total Answers : 2 | View Answers | Post Answers

38143
May, 14
2019
DIRECT TAXES - ( REGARDING INVESTMENT IN NEW PROPERTY )

An Assessee is having two residential flats and now wants to purchase one more Residential Villa which is under Construction and also Registered under RERA. Assessee is making Down payment of RS. 50 lakhs and will get possession after one and half years before which he will gift the existing one residential flat. Whether such payment of RS. 50 lakhs will be treated as Advance or Investment Kindly give your Valuable Suggestion.

BY: GOPAL KUMAR AGRAWAL

Total Answers : 4 | View Answers | Post Answers

38144
May, 14
2019
CORPORATE & OTHER LAWS - ( FINANCE BUSINESS )

A partnership firm wants to start Lending business. I.e Giving Loans to Individuals/business Concerns and earning Interest. Whether it can start such business as a Partnership Concern and Whether It will have to get registered with RBI.

BY: Mahesh Kumar

Total Answers : 3 | View Answers | Post Answers

38142
May, 13
2019
GST - ( GST REGISTRATION FOR DSA )

AS PER GST NOTIFICATION NOW A DAYS INDIVIDUAL DSA OF BANKS / FINANCIAL INSTITUTION ARE COVERED UNDER RCM U/S 9(3). CAN INDIVIDUAL DSA RECEIVING TOTAL YEARLY COMMISSION LESS THAN Rs. 20 LACS FORM BANK / FINANCIAL INSTITUTION SURRENDER HIS GST REGISTRATION?

BY: CA. TASWALA MAYUR HEMENDRA

Total Answers : 2 | View Answers | Post Answers

38139
May, 12
2019
GST - ( REVERSE CHARGE ON GTA SERVICE FOR PROPRIETORSHIP CONCERN )

A transporter having GST no is issuing bills of freight but GST Amount is not written any where nor It is mentioned Reverse charge to pay. In such situation what should be done

BY: Mahesh Kumar

Total Answers : 2 | View Answers | Post Answers

38140
May, 12
2019
GST - ( REVERSE CHARGE ON GTA SERVICE FOR PROPRIETORSHIP CONCERN )

A transporter having GST no is issuing bills of freight but GST Amount is not written any where nor It is mentioned Reverse charge to pay. In such situation what should be done

BY: Mahesh Kumar

Total Answers : 3 | View Answers | Post Answers

38141
May, 12
2019
DIRECT TAXES - ( INTEREST PAID WITHOUT TDS TO NBFC )

A Proprietorship concern subject to Tax Audit repays installment of Mortgage loan in installments to NBFC. It is not deducting TDS . Whether Full amount of Interest paid can be disallowed or 30% Please clarify

BY: Mahesh Kumar

Total Answers : 4 | View Answers | Post Answers

38137
May, 11
2019
MISC. - ( CONVERSION OF SOCIETY FROM STATE TO ACROSS INDIA )

We have a society registered in Karnataka last 7 years back, which is running an educational institute, they want to open a school in other states now, Hence they want to register this society under Indian Societies act. Can any one guide me on the process.

BY: Deepak Pai

Total Answers : 4 | View Answers | Post Answers

38138
May, 11
2019
GST - ( GST SERVICE )

A person is selling on E Commerce and had to take GST number though sale was less than 40 Lacs. Now this person wants to take insurance agency where he will get commission from Insurance company. Whether this service will be required to be added in GST .

BY: Mahesh Kumar

Total Answers : 2 | View Answers | Post Answers

38133
May, 10
2019
GST - ( AVAILMENT OF ITC PAID ON RCM BASIS [U/S-9(4)] AFTER 31/03/2019 )

- Tax Paid on RCM basis for inward supply made from unregistered supplier [u/s-9(4)] in the month of Sep 2017. - we already have filed GSTR 3B till March 2019. Now we came to know that ITC was not booked in GSTR-3B of sep 2017 for the above case. So now can we take ITC in GSTR-3B of April 2019? What if we can take ITC in april 2019 then how we need to report this in GSTR 9?

BY: CA Gaurav Kumar Gupta

Total Answers : 0 | View Answers | Post Answers

38134
May, 10
2019
GST - ( INPUT IN GST )

Whether ITC can be claimed on general insurance or not? Whether General insurance is belong to section 17 (5) of CGST Act,2017 regarding block credit?

BY: CA Neha Gupta

Total Answers : 1 | View Answers | Post Answers

38135
May, 10
2019
GST - ( GSTR 9 )

It is time to file Annual return now. We have to match GSTR 1 figures with GSTR 3B Figures and also Figures as per books. Though We can match these figures with some effort, However We can normally not match GSTR 2A figures with Input claimed in GSTR 3B which according to Govt should ideally match but practically will not match in majority of cases because of several reasons.Should we start filing GSTR 9 despite being difference in GSTR 3B and GSTR 2A if We are in posession of invoices

BY: Mahesh Kumar

Total Answers : 0 | View Answers | Post Answers

38136
May, 10
2019
GST - ( GST )

Dear sir, One of our client is running nursing college. For that he has rented is own building. and for residence of student he has made hostel on residential property. All the rent is received by college and then given to the assessee. The college is not registered u/s 12A of income tax act. There is seperate rent agreement for College building and for Hostel building. My query should the assessee charge GST on rent received for hostel building as it is mainly for staying and no other facility

BY: VIPIN GUPTA

Total Answers : 1 | View Answers | Post Answers

38131
May, 08
2019
GST - ( SALE OF MEIS DUTY CREDIT SCRIP TO OTHER PERSON )

Following are the queries: 1. Sale of MEIS Duty Credit Scrip to other person is taxable or exempted or Zero Rated Supply? 2. MEIS Duty Credit Scrip is duty drawback or not. 3. Whether it is required to reverse ITC claimed on sale of MEIS Duty Credit Scrip which i get on sale of export of goods without payment of tax under LUT.

BY: CA Neha Gupta

Total Answers : 1 | View Answers | Post Answers

38132
May, 08
2019
GST - ( AMENDMENTS IN GSTR1 FOR JULY TO OCT 2017 )

During Filling Gstr1 of a Regular Dealer For The Priod Of July ,Aug,Sept & Oct ,2017 Business To Business (B2B) Transaction Wrongly Posted As Business to Customer (B2C) Transaction And Calls For the Amendments.Otherwise The Purchaser Will be deprived of ITC. We Look Forward to your Active Support and co -operation. With Regards CA G.Kar

BY: CA Goutam Kar

Total Answers : 1 | View Answers | Post Answers

38129
May, 07
2019
GST - ( GST RATE APPLICABILITY )

Completion Certificate is received before 31st March, 2019. However, Advances for Flats sold before receipt of Completion Certificate are still pending upto 31st March,2019. What Rate of Tax on Advances received after 1st April, 2019 ? 1% / 5% or 12% Also, whether the option to Opt for New Scheme (1% / 5%) is available or not in the aforesaid case.

BY: Harshal Punamchand Jain

Total Answers : 2 | View Answers | Post Answers

38130
May, 07
2019
GST - ( DROP SHIPPING BUSINESS )

Person from India order goods from Alibaba China and deliver to America any other person. Payment done by paypal to china and get payment from america same by paypal . Net Payment Reflected in bank account. Any GST applicability ? Any other law applicability ?

BY: Jujmeet Singh

Total Answers : 2 | View Answers | Post Answers

38126
May, 06
2019
GST - ( IGST CREDIT/REFUND OF RE-EXPORT OF CUSTOMS REJECTED GOODS )

An import is made (100 Tons). Bill of entry for home consumption made and IGST paid on full 100 Tons. . On physical examination, customs disallowed import of 15 tons. This 15 tons is re-exported. Question 1. Is it possible to claim IGST ITC on full 100 Tons or on only 85 Tons? 2. If ITC allowed on 15Tons, whether this ITC on 15Tons can utilised on other domestic sales of company or have to be applied for refund?

BY: Sivaraman A.R.

Total Answers : 3 | View Answers | Post Answers

38127
May, 06
2019
GST - ( GST REFUND )

One of our client is in export of services. Its jurisdiction is with state authorities. We have filed refund application with state jurisdiction. They have processed only SGST portion of refund. They are telling us to submit separate application with centre jurisdiction for processing of CGST portion. Do we need to file two separate applications for SGST & CGST refund?

BY: SANTHANU R

Total Answers : 2 | View Answers | Post Answers

38128
May, 06
2019
DIRECT TAXES - ( MAT IN CASE OF REDUCTION OF SHARE CAPITAL )

X Private Limited is a subsidiary of a foreign company. The Share capital of X Limited is Rs.7 crores and there are losses in the Company and the reserves and Surplus as on 31st March 2018 is as follows: Profit and (Loss) Balance – (63.7 crores), Security Premium – Rs.60 Crore, Net loss under reserves- Rs.3.7 Crores As per Mat the losses carried forward is Rs.2.36 Crores. The company wants to reconstruct the company through reduction of share capital by reducing the losses. The shareholder are willing to forego Rs.2.5 Crores amount in share capital, however there are many questions which are to be answered: 1. Whether Mat loss is to be completely reversed and we need to pay tax on remaining Rs.0.14 Crores or we may constitute that the reduction is out of those losses which are not allowed as loss under Mat (i.e. Mat considers lower of unabsorbed depreciation and book loss, so book shows more loss) and hence no reversal of loss shall be done? For Eg: If losses for three years are as follows: Year 1 Loss other than unabsorbed depreciation - 25 Crores Unabsorbed Depreciation - 0.15 Crores Mat Loss carried Forward - 0.15 Crores Year 2 Loss other than unabsorbed depreciation - 2.5 Crores Unabsorbed Depreciation - 0.75 Crores Mat Loss carried Forward - 0.75 Crores Year 3 Loss other than unabsorbed depreciation - 4.5 Crores Unabsorbed Depreciation - 1.25 Crores Mat Loss carried Forward - 1.25 Crores After Reduction the entries passed shall be as follows: Share Capital A/c Dr 2 Crores To Loss of 1st year A/c 2 Crores Since the amount is directly reversed in reserves and surplus no addition is to be done in MAT calculation. Losses remaining post the reduction: Year 1 Loss other than unabsorbed depreciation - 23 Crores (25 – 2 crores reduction) Unabsorbed Depreciation - 0.15 Crores Mat Loss carried Forward - 0.15 Crores Year 2 Loss other than unabsorbed depreciation - 2.5 Crores Unabsorbed Depreciation - 0.75 Crores Mat Loss carried Forward - 0.75 Cro

BY: shraddha

Total Answers : 1 | View Answers | Post Answers

38125
May, 04
2019
MISC. - ( UDIN )

WHETHER UDIN NEEDS TO BE GENERATED FOR GENERAL ATTESTATION ALSO. LIKE WE DID ATTEST BALANCE SHEET COMPUTAION AS ATTESTED TRUE COPY OR IT IS ONLY FOR CERTIFICATES PLEASE REPLY WITH SOME REFERENCE ALSO

BY: SACHIN

Total Answers : 2 | View Answers | Post Answers

38124
May, 03
2019
GST - ( GST AUDIT )

WHETHER GST AUDIT UNDER IS EXEMPT FOR GOVERNMENT COMPANIES THOSE ARE SUBJECT TO CAG AUDIT AS PER PROVISO UNDER GST AUDIT.

BY: CA ARPIT KEDIA

Total Answers : 3 | View Answers | Post Answers

38122
May, 01
2019
GST - ( QUERY IN GSTR 9 )

One of our clients is in Logistics business, the turnover consists of outward supplies on which tax is paid both on forward charge and reverse charge by the service receivers. In filling the GST returns i.e 1 & 3B, th exempt turnover(Outward supplies on which tax in paid on reverse charge by service receiver) is not considered at all. My question is how do i rectify it and should i include it in GSTR 9 or not?

BY: Ankur Tibrewala

Total Answers : 2 | View Answers | Post Answers

38123
May, 01
2019
Income from Other Sources - ( CASH GIFT FROM RELATIVES )

Can A (son) receive cash gift of Rs 8Lacs from her mother B? Will this be treated as inocme of A or B or Both? Do they need to execute the Gift Deed ? Thanks

BY: CA. BISHT RAKESH

Total Answers : 5 | View Answers | Post Answers

38120
Apr, 30
2019
GST - ( DISCLOSURE IN E-WAY BILL )

My client is dealing in Solar panel business in which they get subsidy from Government , now their invoice contains particulars as below Taxable Value - 100 Tax - 18 Subsidy - 5 Invoice value - 113 (Government is giving subsidy only if invoice is made as disclosed above)(it is opposite to valuation rule which clearly mentioned that value of supply dose not include amount of subsidy given by government) now , what should be the value of E-WAY bill ? because even slight change between invoice value and E-WAY bill will cause him huge penalty by mobile squad. And also suggest how value should be shown in GSTR-1 ? how subsidy should be disclose ?

BY: parth

Total Answers : 2 | View Answers | Post Answers

38121
Apr, 30
2019
GST - ( SEZ SALES )

Sez sales was not mentioned in GSTR 1 and 3B separately, now for claiming refund of IGST what should be done ?

BY: CA. TOMAR MAHENDRA SINGH

Total Answers : 1 | View Answers | Post Answers

38117
Apr, 29
2019
DIRECT TAXES - ( INVALID ITR OF AY 2017-18 )

My client has come to know that his ITR for AY 17-18 has become invalid due to non reply of 139(9) notice. What remedy is available now? More than Rs 3 lakh tax was deposited related to that AY.

BY: CA. GHOSH SAMRAT

Total Answers : 2 | View Answers | Post Answers

38118
Apr, 29
2019
GST - ( INPUT CREDIT IN WORKS CONTRACTS )

Mr. A is a Government Contractor engaged in :- 1. Construction of government buildings & Roads 2. Engaged in Water Boring & grounding of water Pipelines The Works involve both goods as well as services of labour. Now in both cases contractor is purchasing goods like cement , building materials , water pipes etc as required for completion of projects with the help of owned labours. Please clarify whether the contractor can take the input of GST paid on the goods procured for the both projects or not (consider separate projects). What are the conditions for availment of GST Inputs. What will the GST Rates on the above projects. Thanks in advance.

BY: VIPIN KUMAR

Total Answers : 0 | View Answers | Post Answers

38119
Apr, 29
2019
GST - ( INELIGIBLE INPUT CREDITS )

We have filed application for refund under Inverted duty Structure.The Concerned Official has demanded Annexure A containing Purchase details invoice wise Here We have to bifurcate purchase input into For raw material/For Capital Goods/For Services (Wash and Dyeing) Whether Input amount paid for Capital Goods /Service Sector will be ineligible for Refund Purpose?

BY: Mahesh Kumar

Total Answers : 1 | View Answers | Post Answers

38116
Apr, 28
2019
GST - ( OMISSION OF SALE BILL IN FINANCIAL YEAR 2017-18 )

One Sale bill of a firm was omitted while filing GST Returns of an asessee during 17-18. However same was added in 2018-19 in June 18 Sale return as well as GSTR 3B. Whether such bill should be added in GSTR 9 for 17-18 in table 10-11 but problem is they have not shown this bill in their financial books for 2017-18 also .Can we leave this bill for 18-19 filings

BY: Mahesh Kumar

Total Answers : 2 | View Answers | Post Answers

38115
Apr, 27
2019
GST - ( REGISTRATION LIMIT FOR GOOD AND SERVICES )

I would like to know present registration limit ( whether it is Rs 40 lakhs or Rs 20 lakhs ) and whether it is same as for goods and services or different ? . 

BY: samirkumar gokulbhai kasvala

Total Answers : 3 | View Answers | Post Answers

38114
Apr, 26
2019
GST - ( REGISTRATION )

A dealer is already registered in maharashtra and has place of business in maharashtra only. He has purchased goods through tender in Madhyapradesh (MP). Goods is stored in MP . Now dealers wants sell this goods across the india. Whether dealer would be required to take registration in the state of MP or he can sell though GSTIN of Maharashtra ?  

BY: samirkumar gokulbhai kasvala

Total Answers : 1 | View Answers | Post Answers

38111
Apr, 25
2019
Profits & Gains of Business & Profession - ( AMENDMENT U/S 44 AE )

Pl. clarify applicability of Sec 44AE in view of amendment made by Finance Act 2018 for current F.Y. 18-19 i.e. A.Y. 2019-20.The amended section uses the words "gross vehicle weight or unladen weight as the case may be @ Rs. 1000/- per ton. Now, the R/C of a heavy Goods Vehicle(HGV) mentions both the weights i.e. Gross Vehicle weight 49 Tons and Unladen weight 12.2 Tons meaning thereby that the HGV can load maximum 36.8 Tons of Goods. Presumptive Income till March 18 was Rs. 7,500/-p.m. hence if Unladen Weight is taken it will be Rs. 12200/-per Truck p.m. but if Gross Vehicle Weight is taken it will be Rs. 36,800/- per Truck p.m. making it about 5 times more than of the present limit. You are requested to clarify why both the weights have simaltaneously been mentioned in the Section, which weight has to be considered for computing Income u/s 44AE and why the word as the case may be has been mentioned therein. As per new ITR form for A.Y. 2019-20, “TONNAGE CAPACITY” is being asked for the calculation of income u/s 44AE. Kindly clarify what should be the tonnage capacity in above case either 12.20 Tons or 36.80 Tons or 49.00 Tons ?

BY: JAIN RITESH KUMAR

Total Answers : 1 | View Answers | Post Answers

38112
Apr, 25
2019
GST - ( COMPOSITION DEALER )

There is one dealer who is registered in GST under composition scheme. The said dealer is providing various material and services to the Government Entity. Now the Government entity is deducting TDS @2% on the payment made to the supplier. Now the query is how that Composite Scheme Registered Dealer get Credit of Such TDS Amount which is deducted by Government Entity. The Government Entity is making more than 2,50,000.00 payment to the dealer. Please help to come out from this issue. As the Dealer is registered under composition scheme, he is not eligible to view TDS Credit in his Return Tab. How can he get his TDS Amount back? Thanks in advance.!!!

BY: CHIRAG DIPAKKUMAR SHETH

Total Answers : 0 | View Answers | Post Answers

38113
Apr, 25
2019
GST - ( GST ON REIMBURSEMENT OF EXPENSES )

While issuing Statutory Audit Bill , Should we add Travelling exp bill without charging GST Travelling Exp include Lodging charges on which GST has been charged by Hotel

BY: Mahesh Kumar

Total Answers : 1 | View Answers | Post Answers

38108
Apr, 24
2019
AUDIT - ( GST AUDIT )

I have a query on GSTR 9C. I have my offices in the state of Punjab, Maharashtra, Tamilnadu and Gujrat. PAN is the same but the GSTN is different for each state. The aggregate turnover of all the states is more than 2 Crore But the state wise turnover of each state is less than 2 crore except the state of Maharastra which is more than 2 Crore. In this position Can we file GSTR9C of each state separately or for only the state of Maharashtra?

BY: CA. ASHWANI KANT

Total Answers : 2 | View Answers | Post Answers

38109
Apr, 24
2019
GST - ( RULE 42 )

While disallowing input with respect to exempted turnover, what is the total turnover to be taken for the month? Only the turnover which the input is utilised for or the total turnover even such inputs are not utilised? Ex. Interest Income, Rent income etc.,. If we have to consider entire turnover, we know interest accrued income in later months checking the TDS. But we have to file GST Return early. Even we estimate such incomes they are not accurate. Also another situation where inputs are availed in one month and there is only exempted turnover during the month but taxable supply occurred in later month we have to disallow the entire input. In later month we have to pay entire tax without input. There is no provision in GST to consider the exempted turnover and taxable turnover to total turnover on yearly basis for year end adjustment.

BY: VINAY BHARGAV KUMAR G

Total Answers : 0 | View Answers | Post Answers

38110
Apr, 24
2019
Profits & Gains of Business & Profession - ( IMPLICATION OF IND AS 115 FOR REAL ESTATE DEVELOPERS )

Wef FY 18-19, Ind AS 115 has replaced Ind AS 18 and 11. Most of the listed entities in real estate sector has shifted to product completion method instead of percentage completion method in respect of incomplete projects, as noted from their quarterly results. Most of them have recognised negative impact on their net worth as at 1.4.18. For FY 2018-19, real estate companies would be recognising revenue based on product completion instead of percentage completion. My query is, for income tax purpose, would such entities be required to prepare a separate books of account i.e. as per Percentage completion since, ICDS on Construction contracts permits only percentage completion or they can continue to use accounts prepared as per new revenue recognition standard?

BY: Deepak Gupta

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38106
Apr, 23
2019
GST - ( GST )

Dear Sir, As there is a change in GST provision regarding gst rate from declared tariff to "Value of Supply". In my case the room rent declared is Rs 900 now the person has breakfast orders a bisleri bottle and other services and his bill goes to Rs 1350/- will we have to charge GSt or not. Can we give two bills one for stay and other for Service. and get rid of GST or we will cought under composite supply and will be liable to GST

BY: VIPIN GUPTA

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38107
Apr, 23
2019
GST - ( CLARIFICATION REGARDING NEW REAL ESTATE GST RATES )

Respected sir, I have doubt that whether contractor(constructs resedential house) is eligible for new rates (1% and 5%). our case is that owner who is having or purchased plot of land and enters into agreement with contrator for construction of house. now question is that whether contractor have to pay gst with old rates or new rates? In every notification the word promoter is mentioned. In notification defination of promoter is to be seen as per RERA act. in that promoter includes contractor.At what rates Gst is applicable to contractor?

BY: HARDIK KETANKUMAR THACKER

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38105
Apr, 21
2019
GST - ( REVERSAL OF ITC BY REAL ESTATE DEVELOPER BEFORE 01 APRIL 2019 )

Whether input tax credit shall be reversed by a Real Estate Developer engaged in providing construction services of Residential/Commercial complex where the whole/part consideration has been received before issuance of Completion certificate ?

BY: DEEPAK ARYA

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38102
Apr, 19
2019
GST - ( RCM UNDER GST )

Supplier is registered in Karnataka, purchased machinery from Maharashtra. however for transportation supplier received the service of GTA from Karnataka. query is 01. whether supplier is liable to pay GST under RCM for GTA service, as this service is capitalised in books of account. 02.Will it be input service or capital goods under GST.

BY: Sachin

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38103
Apr, 19
2019
GST - ( GST LIABILITY )

PROP FIRM REGD WITH GST PROVIDES TRANSPORT SERVICE AND SO ON ITC IS CLAIMED ON CAPITAL GOODS PUCHASED,(TRUCKS). NOW A NEW PARTNERSHIP FIRM IS FORMED AND TRUCK ARE BROUGHT IN FIRM AS CAPITAL CONTRIBUTION. WHETHER GST ON TRUCK IS APPLICABLE ON PROP FIRM.???

BY: YOGESH GANDHI

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38104
Apr, 19
2019
DIRECT TAXES - ( 108293 )

A land owned by partnership firm is transferred to retiring partner. Whether Sec.45(4) is attracted

BY: ATUL MUKUNDLAL TOSHNIWAL

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38101
Apr, 18
2019
MISC. - ( FINANCIAL CREDIT NOTE AGAINST THE SALE BILL )

Sir, We are involved in Construction Company and we have raised a escalation Bill of Rs.29L in the period March'2018 (FIN Year 2017-18) and client has found that some excess value charged in the calculation and has passed only Rs.17L and accordingly payment were release to us in the month of Dec'2018 (FIN Year 2018-19).Kindly confirm that can we raise Financial credit note for the difference amount or is there any other process or any implication for differences amount in the IND AS.

BY: Chandra Kant Prasad

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38099
Apr, 17
2019
GST - ( GST - )

As per notification no.3/2019 (Central Tax - Rate), new rate of GST has been prescribed. This applies to a "promoter". As per this notification, the meaning of promoter is the same as defined under RERA. Sec.2(zk) defines the term promoter. As per the "explanaion" given at the end of the sec.2(zk), if the person who construct the apartment & the person who sells the apartment are different, both are treated as "promoter" for purpose of RERA. This means a person who is acting as "contractor" for the developers also become a promoter & is covered by notification no.3/2019. Hence, I feel even the "contractor" has to charge 1% or 5% GST without ITC. However, I find the said notification has entry (v) providing for 12% GST for pure “contractor” who renders service to a promoters. There appears to be conflict of meanings. Experts please give your comments.

BY: Ethirajan

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38100
Apr, 17
2019
GST - ( GST )

Dear sir, We have imported plant and machinery by mistake we have entered ITC of it in column " All other ITC " instead of "Import of goods". Will it create any problem in our claim of ITC of IGST and the tax paid on ocean freight on reverse charge has been entered in inward supply liable to reverse charge instead of Import of service. Please guide.

BY: VIPIN GUPTA

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38097
Apr, 16
2019
GST - ( GST REGISTRATION OF SALES OFFICES )

Company has manufacturing facilities in Bangalore and Sales office in Delhi. Delhi sales office does not do any billing or other invoicing, but only support Bangalore office for procuring orders. No materials are moved from Bangalore to Delhi office. Queries: Whether Delhi office is required to registration? Whether Delhi office is to be billed from Bangalore office for share services provided to Delhi office like accounting, payroll etc Whether for billing shared services, registration of other distinct entity like Delhi in this is necessary. Thanks in advance for valuable suggestion. CA. Anant N.

BY: Anant Nyamannavar

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38098
Apr, 16
2019
MERGER & ACQUISITION - ( CONVERSION FROM SOLE PROPRIETORSHIP TO PARTNERSHIP )

Please apprise whether a Chartered Accountant practicing as Sole Proprietorship Firm can be converted into a Partnership Firm and whether the Partnership Firm would be considered as having existence from the date on which the proprietorship firm had been established. Further, also please inform whether the original Sole Proprietorship Firm name as registered with the Institute, can be retained.

BY: Nilanjan Kayal

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38094
Apr, 15
2019
DIRECT TAXES - ( 079710 )

We have filed ITR for AY 2018-19 in the m/o. July 2018 and send ITR V to CPC Banglore office through Post However the same was not received by them by whatsoever reason . Now we revise the same return on Dec. 18 and file revised return NOw Intimation U/s. 143(1) recd. and they calculate Late fee Rs. 5000/- u/s 271 F . What is remedy

BY: SANDEEP KAPOOR

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38095
Apr, 15
2019
DIRECT TAXES - ( STAY OF DEMAND- CPC ORDER )

Suppose Income tax order u/s 143(1) is passed by CPC Bangalore raising a demand. The assessee filed an appeal before CIT(a) online disputing the demand. Who has to be approached for stay of demand? is it CIT(A) or the A.O (in this case CPC)? How to apply for stay of demand online?

BY: Sarath_CA

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38096
Apr, 15
2019
GST - ( CLARIFICATION ON GST RATE 12% OR 18% )

One of our Client has received Works Contract from Central Govt. entity for Developing Integrated Security System. The Scope of Work include all works, supplies and services for Supply, Installation, Testing and Commissioning of Communication System, CCTV System & Access Control System. Can anyone clarify GST rate to be charged on above Works Contract i.e. 12% or 18% ?

BY: Harshal Punamchand Jain

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38090
Apr, 12
2019
GST - ( REVERSAL OF ITC UNDER RULE 42 WRT TAX PAID ON REVERSE CHARGE )

A private Limited paid GST under reverse charge wrt import of service from its parent company. The total GST paid on import of service is Rs 1,00,000 and subsequently claimed ITC. As per rule 42, the ITC is to be reversed wrt exempt suppy. As per section 17(3), the GST paid on reverse charge is exempt supply. So, does it mean the entire GST paid of Rs 1,00,00 on this transaction we have to reverse it. Kindly confirm the same. Thanx in advance

BY: CA Neha Gupta

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38091
Apr, 12
2019
GST - ( INPUT ELIGIBILITY )

Whether Amount spent on Fan.Furniture,Ac,invertor etc used in Office/Shop will be eligible for Input6 Credit

BY: Mahesh Kumar

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38092
Apr, 12
2019
GST - ( INPUT ELIGIBILITY )

Whether Amount spent on Fan.Furniture,Ac,invertor etc used in Office/Shop will be eligible for Input6 Credit

BY: Mahesh Kumar

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38093
Apr, 12
2019
GST - ( INVOICE MISSED IN 2017-18 )

An Asessee forgot to upload One Invoice in GSTR-1 during 2017-18. In First Quarter of 2018-19 on realising his mistake he added in June 18 Quarter as there was no way to amend previous year entry at that time. Whether he should make amendment and change date to Oct 17? But then his Annual accounts will not tally with GSTR 1 figures in that case. What will be the best solution

BY: Mahesh Kumar

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38088
Apr, 10
2019
GST - ( GST ON TRANSPORTERS )

If a transporter is charging GST @12% whether Recepient of Service will be out of Reverse Charge and claim GST paid on Freight etc

BY: Mahesh Kumar

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38089
Apr, 10
2019
Companies Act, 2013 - ( APPOINTMENT OF INTERNAL AUDITOR )

Our firm has been appointed as GST auditor by a Company, limited by guarantee, for the FY 2017-18 and we shall submit our resignation after 30.06.2019 I.e. the last of the said audit. Now the said Company also want to appoint us as their internal auditor w.e.f. 01.04.2019. Can we accept the appointment of internal auditor before submitting resignation as GST auditor?

BY: CA. GHOSH SAMRAT

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38087
Apr, 09
2019
GST - ( 079710 )

We are service provider and till 31st March 2018 we have filed & deposited GST on Services and due to services lower than the minimum prescribed Limits i.e Rs. 20 lacs we have applied in April 2018 for Surrender and they same approved on March 2019 w.e.f. April 2018. My querry is whether we have to file GSTR -9 for FY 2017-18 as the my GST has already cancelled or may I simply file GSTR-10 or both

BY: SANDEEP KAPOOR

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38086
Apr, 08
2019
CORPORATE & OTHER LAWS - ( DIR 3 KYC )

For one of the Private Limited Company, DIR-3 KYC was filed on 18-08-2018 for all Directors. Is it necessary to file once again DIR-3 KYC? While trying to file the form the message is coming as follows: " For this DIN already DIR-3 KYC was filed".

BY: somu balasrinivasa murthy

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38085
Apr, 07
2019
CORPORATE & OTHER LAWS - ( GRATUTITY )

Director of a private limited company in India is appointed by it foreign holding company and the director is a national of that country. Is the Indian Company under obligation to pay gratuity to him? That director by virtue of being in India so long has become resident in India. He is in the rolls of the Indian Company and getting monthly salary. After completing 10 years of service at the time of his resignation, should the Indian Company pay gratuity?

BY: balasubramanian

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38083
Apr, 06
2019
GST - ( ITC REVERSAL IN CASE OF IMPORT )

I have imported material and paid applicable IGST at custom clearance now, I have issued debit note for less material received or for material received was defective to foreign party. Now whether i have to reverse proportionate IGST ITC or not ?

BY: parth

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38084
Apr, 06
2019
GST - ( UNMATCHED ENTRIES )

An asessee has filed his GST returns correctly but one of the supplier has not shown his sale to above asessee in his returns. that will amount to mismatch . While filing GSTR 9 whether this asessee have to reverse GST availed on above transaction while he has paid GST and is in posession of Invoice also

BY: Mahesh Kumar

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38080
Apr, 05
2019
AUDIT - ( UDIN )

Can we Sign Bank Certificates for Branch Statutory Audits in Bank Branch and issue UDIN later on within 15 days at our Office?

BY: Mahesh Kumar

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38081
Apr, 05
2019
MISC. - ( LOAN FROM OUT SIDE INDIA )

In case of individual , can he received a loan from outside India (from individual only -POI) and later on, can he repay this loan to him back ? what is the limit ? and the process to be followed?Thanks

BY: CA. BISHT RAKESH

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38082
Apr, 05
2019
AUDIT - ( AGRICULTURE LOAN )

Two agriculture Loans of same amount one for Long term Crop and other for Short term crop are given on 1-4-2017 Interest as well Principal are pending /Not adjusted When will they become NPA

BY: Mahesh Kumar

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38075
Apr, 04
2019
AUDIT - ( UDIN )

Whether UDIN will have to be generated in Bank while issuing Certificates for Statutory Bank Branch audit and whether it will be written manually ?

BY: Mahesh Kumar

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38076
Apr, 04
2019
AUDIT - ( UDIN )

Whether UDIN will have to be generated in Bank while issuing Certificates for Statutory Bank Branch audit and whether it will be written manually ?

BY: Mahesh Kumar

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38077
Apr, 04
2019
GST - ( HSN / SAC )

As per Kolkata High Court decision in the case of Srijan Realty (P) Ltd., the landlord is liable to pay service tax on electricity charges collected from tenants based on sub-meters installed. I presume this decision is hold good under GST also. If yes, what is SAC to be mentioned. I understand the Supreme Court has given finding that the electricity can be classified as a goods. Does it mean we should quote HSN not SAC.

BY: Ethirajan

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38078
Apr, 04
2019
GST - ( NIL RATED OR ZERO RATED )

Hello all, we are a company in India which is subsidiary of a company in USA wherein our parent company holds 87% of our shares, we provide support services to our parent company and we invoice them and we are of the opinion that this is export and hence its a zero rated supply, but there are other views and as per those this is a nil rated supply. can anyone guide us on this along with the provision of the law??? Also request you to elaborate the concept of distinct persons if possible

BY: SRIMANTH KULKARNI

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38079
Apr, 04
2019
MISC. - ( MISC )

Dear Sir, One of my client has got a contract for market research from US for this he will receive Rs 60 Lacs for a contract period of 4 Months. Sir i want to know do we have to take any registration or permission from RBI or any permission from other depatment

BY: VIPIN GUPTA

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38072
Apr, 03
2019
DIRECT TAXES - ( TAN APPLICATION FOR INDIVIDUAL IN CASE OF TURNOVER ABOVE RS 1 CRORE BUT NO TAX AUDIT IS REQUIRED )

An individual whose turnover exceeds Rs 1 crore during FY 2018-19 but has opted for presumptive taxation. Hence, no Tax Audit is required. Now my question is does he need to apply TAN No since his turnover exceeds Rs 1 crore as per section 44AB...??

BY: CA Neha Gupta

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38073
Apr, 03
2019
GST - ( APPEAL TO APPELLATE AUTHORITY )

We want to apply against the order issued by Deputy Commissioner, State GST where he has charged Interest amount which is in dispute. Only the interest amount is in dispute then 10% pre-deposit on interest amount is required to be made for filing this appeal since we are contesting the imposition of interest ?

BY: Chandra Kant Prasad

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38074
Apr, 03
2019
Companies Act, 2013 - ( LOAN FROM NRI DIRECTOR TO A PRIVATE LIMITED COMPANY ON NON REPATRIABLE BASIS )

A private limited company wants to avail loan in USD from its NRI director for working capital requirement. Loan is being availed on non repatriable basis and hence the company will repay the loan to the NRI Director in INR. can the company avail loan in such a manner. what would be the consequences under FEMA and Comapnies Act ??

BY: SRIMANTH KULKARNI

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38071
Apr, 02
2019
GST - ( REFUND OF TDS UNDER GST WHERE SERVICES ARE WHOLLY EXEMPT UNDER GST )

Whether a Hospital , having 100% exempt turnover, will be able to get the refund of TDS deducted by the Govt under GST Law..??

BY: CA Neha Gupta

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38066
Mar, 31
2019
GST - ( GST - ( DISCLOSURE OF ITC IN GST3B FOR IGST PAID ON IMPORT ) )

IGST IS PAID ON IMPORT . HOW THIS IGST PAID IS SHOWN IN GST3B IN TABLE 3.1.d "Tax on outward and reverse charge inward supplies " UNDER INWARD SUPPLIES (LIABLE TO REVERSE CHARGE) AND IN TABLE 4 " ELIGIBLE ITC UNDER 4 (A(3) "INWARD SUPPLIES LIABLE TO REVERSE CHARGE IF IT IS SHOWN IN TABLE 4 TITLED "ELIGIBLE ITC" AT 4(A)(1) UNDER IMPORT OF GOODS , THIS IGST PAID ON IMPORT IS NOT SHOWN IN ITC CREDIT CLAIMED AND DUE SUMMARY GENERATED BY DEFAULT ON GST PORTAL UNDER TAB COMPARISON OF LIABILITY DECLARED AND ITC CLAIMED

BY: SHYAM SUNDER

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38067
Mar, 31
2019
GST - ( PUNJAB DEVELOPMENT TAX 2018 )

Punjab Govt has notified Punjab development tax for Persons having income more than 250000- Can any body confirm whether this amount is before availing Chapter VI deductions or after deducting deductions like 80C

BY: Mahesh Kumar

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38068
Mar, 31
2019
GST - ( PUNJAB DEVELOPMENT TAX 2018 )

Punjab Govt has notified Punjab development tax for Persons having income more than 250000- Can any body confirm whether this amount is before availing Chapter VI deductions or after deducting deductions like 80C

BY: Mahesh Kumar

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38069
Mar, 31
2019
GST - ( GSTR 9 )

After adding one Outward Liability in GSTR 9,We used Compute Liability button . There was no liability shown and we filed the annual return hoping we will be able to generate Tax challan but Return has been already filed. Now We do not know how to deposit pending liability as no outstanding Liability is being shown

BY: Mahesh Kumar

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38070
Mar, 31
2019
GST - ( GSTR 9 )

After adding one Outward Liability in GSTR 9,We used Compute Liability button . There was no liability shown and we filed the annual return hoping we will be able to generate Tax challan but Return has been already filed. Now We do not know how to deposit pending liability as no outstanding Liability is being shown

BY: Mahesh Kumar

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38063
Mar, 30
2019
GST - ( STATUTORY BANK AUDIT FEES FOR 2018-19 )

Can We issue bill in March 2019 for the Statutory bank Audit 0f 2018-19 (to be commenced in April 19) as Banks will provide for Audit fees in 2018-19 in their books

BY: Mahesh Kumar

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38064
Mar, 30
2019
GST - ( OLD ITC )

ITC not claimed in F.Y.17-18 and expenses debited with full amount, while checking 2A, Tax amount is showing. Can we calim ITC in F.Y.18-19 and correct the accounting entry?

BY: CA. TOMAR MAHENDRA SINGH

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38065
Mar, 30
2019
GST - ( DICLOSURE OF FREE SALE )

I have made free sample sale and i have paid GST on such sale at applicable rate and i have disclosed such sale in GSTR-1 in B2B transaction and paid GST in GSTR-3B and i have issued financial CN(including GST amount) to customer and i have borne GST paid as expense now , GST paid is showing in customer's GSTR-2A which is not eligible credit for him as he has not borne GST amount so customer wish me to do something that GST credit amount will not display in his GSTR-2A now how can i amend original sales invoice in GSTR-1 ? if i amend GSTR-1 with zero taxable amount and tax then there will be difference in my GSTR-1 & GSTR-3B. And Then how i can disclosure in GSTR-9 and 9C for this transaction difference ?

BY: parth

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