Dear sir/s,

is Gst applicable under RCM on Frieght inward supplies, the service received from Un Registered Persons and these amounts only entered into books of account from time to time while making payments

“If an assessee changes the method of inventory valuation (e.g., FIFO to Weighted Average), what are the implications on profit, financial statements, income-tax computation, and reporting in the Tax Audit Report under the Income-tax Act?”

Company issued service invoice to us during October 2025. We accounted the same and filed our GST return accordingly. Now the Company cancelled the invoice raised in October and asking us to account in current date by issuing fresh invoice, but Company is not issuing credit note for the cancelled invoice. Is it mandatory to get credit note for the cancelled invoice. Kindly clarify

We have manufactured a machine for a Chennai company and will deliver it in one year. They're asking us to issue an invoice today citing previous terms and conditions. They want to visit our office to test the machinery and will approve it before taking delivery. They're asking for an invoice today only.Can we issue an invoice today?

DEAR SIR/ MADAM
MY QUESTION IS
We are registered in karnataka state and e buy goods from tamil nadu customer and sell goods directly from there(TN) to another customer in andhra pradesh under bill from dispatch from option in eway bill charging igst , so can we sell goods from tamil nadu with karnatka gstin ????

Dear Experts,

Our company is in manufacturing sector. In FY 2017-18, due to short supply & defective goods our customer charged us Liquidated damages as per agreement. Customer charges us IGST on invoice. So we booked expenditure and claim GST ITC on it. Now finally we have received GST order to reverse ITC, pay penalty and interest. As per them we claimed wrong ITC. we filed appeal by depositing 10% of disputed demand. please guide me. How to approach this case now. WIll it be in our favor? if not what further actions to be taken by us? please guide.

I am a newly qualified Chartered Accountant. While applying for membership, I am required to upload address proof.

I have recently shifted to a new residence, but all my government-issued IDs reflect my previous address. At present, I do not have any document that shows my current address. Updating my address in government IDs will take some time; however, I would like to apply for membership at the earliest.

please advise on how I can resolve this issue?

Dear Sir,

I have filed Income Tax Return of the firm for A.Y. 2025-26, while filing the Return of Income I have not consider Advance Tax paid by the firm and Income Tax Return is processed also. Now, what I can do for taking Advance Tax for claiming refund.

Please do the needful & oblige.
Vishal Bhalerao

Dear Sir,

A small company was incorporated on 27-04-2024 and has received the Certificate of Incorporation. However, no further compliances under ROC, GST, or Income Tax have been completed to date. I seek clarification on the following points:

1. Since the company was incorporated towards the end of the financial year, is it sufficient to conduct only one Board Meeting instead of two for the first financial year due to the short period available?

2. The subscribed share capital has not yet been transferred to the company’s bank account. Further, Form INC-20A has not been filed and share certificates (Form SH-1) have not been issued to the shareholders. If the subscription amount is transferred now and compliance with INC-20A and SH-1 is completed, can the share capital be reported on a due basis in the balance sheet for the first and second financial years?

3. Is it mandatory to convene a Board Meeting for every Board Resolution passed during the year? Can resolutions be passed without holding a formal Board Meeting?

4. The GST registration (GSTIN) of the corporate state has been cancelled suo motu by the department. Is it possible to apply for revocation after the extended time limit has lapsed? Additionally, can GST registration be obtained for a branch state if the GSTIN of the corporate state has not yet been revoked?

Kindly guide on the above issues.

Dear Sir,

We have purchased used commercial vehicles, please clarify the how to decide the useful life of used commercial vehicles.

Thanks & Regards