This Query has 1 replies
During the FY 23-24 the party has availed ITC in GSTR 3B which were actually needed to be reversed as per rule 42. The FY is already over, only 9&9c is pending. My question is:
1- Can i reverse this ineligible ITC taken in the table 7 of GSTR 9
2- If not, what we can do
3- if yes, will I be required to pay the reversed ITC in cash or can reverse it from the credit ledger as there is enough balance in credit ledger. Also is interest applicable on the same?
This Query has 1 replies
Hi
Direct Income 100 + Indirect Income (non GST - Interest on FD etc.) 20 total income is 120
while filing GSTR 9 C - in Pt II(5) A what should be the Turnover - 100 or 120?
as per my audited Financial Statement, my total turnover is 120 whereas as per GST Pt II (5) Q is 100 .
where to show the difference amount 20
Is it necessary to put 120 in GSTR9C Pt II (5)A or can I put 100 bcoz 100 is only my taxable outward supply as per GSTR1
Thank you for your quick response
This Query has 2 replies
CAN WE TAKE ITC ON COURIER CHARGES OR IS IT ATTRACT RCM.. PLEASE SUGGEST
This Query has 1 replies
Hi
Other Income such as Interest on Income Tax and Savings account - No GST is applicable - where is it reported in GSTR1 , 3b, GSTR9 and 9C
This Query has 2 replies
One of unregistered Entity has received services liable under RCM ( which is greater than threshold limit of GST registration) , does unregistered vendor has to pay the RCM and take the registration?
This Query has 1 replies
We are a gold dealer having a turnover of more than 5 Crores in a year. Usually, we send gold for job work (both registered and unregistered) to making ornaments from bullion. as per GST act we must show in ITC-04 from when GST established i.e 2017. but we have not file since then. so its compulsory to file from fy 2017-18 till now or can we file from this year. if we compulsory file from begging then how much fine will we have to pay?
This Query has 1 replies
We are a gold manufacturer and dealer in gold and diamonds having a turnover of more than 5 Crores in a year. Usually, we send gold and diamonds to job workers (both registered and unregistered) to polish, repair diamonds, refine and make new gold ornaments and for Hallmarking. We are booking the melting, refining and new gold ornaments making charges and hallmarking charges in PandL.
For the above cases, we are dealing only with suppliers / job workers within the state.
Is it compulsory for us to submit ITC 04 half-yearly?
This Query has 1 replies
reverse ineligible ITC in which column of 3B should I show last year's claimed ineligible ITC in this F.Y. year
This Query has 1 replies
My purchase on date 10 March 2023 and received goods in March 23 but late filing of gstr1 by supplier input not shown in March 23 2b, we book ITC in 22-23 at our book but claim the same input in April 23 as per April 2b. Now the same input claim where to show in 23-24 gstr9 . This year table 8a auto populated as per 2b
This Query has 1 replies
My client has taken GST registration and not done a single transaction (not opened any bank account too) and applied for Cancellation of Registration Department is asking for books of accounts the books are not maintained as not even a single supply was made kindly guide
6 days Certification Course on GST Practical Return Filing Process
Ineligible ITC taken