Discount of FY 17-18 and FY18-19 entries made in FY 19-20 whether GST to be reversed?
2A doesn't reflect such discount yet.
Credit note although released in FY 18-19 and FY 17-18 but we counted these credit notes in FY 19-20 still reversal required?

Sir,
I have registered under composition scheme from July 2017. But filled returns till March 2018. I have not filled any gst return from April 2018 to till now. Now I want to file all returns under composition scheme.
Please suggest me regarding total late fees and penalties for late filling till now. Is there any notification from government for waived off of late filing fees. Please suggest me in detail with amount of late filling fees.

What is the last date for opt out from Composition scheme i.e composition to Regular Taxpayer for FY 2020-21
As earlier it was 30th June..Is it extended?

We are a partnership firm of two partners. One partner has contributed more than 3/4th capital. In absence of any clause in partnership deed regarding interest on capital, can we give interest on capital to only one partner who has contributed most. This is will be as per mutual understanding of both partners, since profit of firm is very less , it being first year of the firm. Please advise. Thanks in advance

I need to know the limit ( number of audits) a CA can do as per ICAI guidelines? Are small private companies with Paid up capital less than 10 lakhs included in this limit ?

Hi,
suppose if i am paying rent on 5th of every month then can we book tds on 30th of that month? and if i mention date of payment as 5th and date of deduction as 30th then the return will not get any default or penalty for that ?

Our factory is located at Andhra pradesh on a land that is taken on 99 years lease. The lease contains an upfront premium and also a rental charge to be paid on monthly basis for the entire duration of 99 years (rent- INR 40 lac/annum)
The initial non-cancellable period is for 33 years and the agreement provides for further 2 extensions of 33 years in the option of lessee (our company) and the possibility of extension is certain at this point as well.
Does this transaction gets covered under IND AS 116? If yes, how to go about arriving at the Lease liability and ROU as per IND AS 116?

One building was taken on lease for 30years which was expired on 21/11/2010 and as per our request, lessor renewed for another 15 years from 21.11.2010 to 20.11.2025 . The entire lease payment for 15 years has been paid on 08.05.2018 amounting to Rs 2.5 crores and legal formalities of lease completed.
This lease payment is single time and no future lease payment for coming years and therefore,capitalised entire Rs2.5 crores during 2018-19


Now,whether IND AS 116 is applicable from FY 2019-20 or to be treated as per IND AS 16

Dear sir,

If amend the sale invoice in GSTR-1, shall we show the only amendment amount in GSTR 3B, kindly clarify.

for example

Sale Invoice basic amount GST@18% Total amount Remarks
100,000.00 18,000.00 118,000.00 Uploaded in May-20
150,000.00 27,000.00 177,000.00 Amended in Jun-20
50,000.00 9,000.00 59,000.00 Balance amount shall we show the Jun-20 3B filing

one more doubt GST payble link between GSTR 1 - GSTR 3B Input = GST Payable amount
is it right or not.

Sir. I have a consultancy income for 7 month and there they were deducting the tds and for rest 5 month I was a employee with the other company. I means to I have a business income and salaries income in f. Y 19-20 and i want to know which itr form would be applicable for me to claim tds amount. And my income is below 5 lakh .. Pls suggest with your valuable answer.


Thanks & regards