One of my client has claimed ITC during the year 2017-2018 but there is no taxble supplies. Now in the month of Jan 2020 the department send notice to pay the ITC claimed during the year 2017-2018 as there is no taxable supplies. My doubt is whether can I reverse that ITC in the month of Feb 2020 GSTR-3B since it is there in credit ledger or I have to pay the ITC through cash in DRC-03. Kindly clarify me. thank you

Iam finalization accounting books data up-to-date in property concern.cash on hand is very low.how to many ways of cash on hand increased producure in proprietory concern.

Dear Sir,

In previous year 18-19 in books of account my GP Was 8.90% and NP was 4.31% in this current year 2019-2020 My Gross profit is 8.96 and NP is 4.34%.
Can we face any problem
Please guide to us

Hello, I had received demand notice from Income Tax then i came to know about the assessment has been made u/s 144 for A.Y 2011-12 the notice of which has not been received to me as my address has been changed and in absence of reply the AO made exparte order and raise demand of Rs 192670/- and imposed penalty of Rs 69000/- in 271(1)(C) and Rs 10000 u/s 271(1)(B) and Rs 5000/- u/s 271F.

Now i am preparing for appeal towards above order so please share case laws and ground of appeal for Penalty order and also share your valuable suggestion.

Sir,

By mistake we had paid excess Professional Tax (PT - Employee) in previous year, can we get back refund or adjust against next year Liability.

Sir,
There may be good reason but not made known that why law makers leave some very important terms undefined while drafting and passing of ITax law. e.g term ' Total Turnover' on which percentage for business income is to be applied to find out presumptive business income.

Now 'Total Turnover' is not defined with any relevant definition in section 44AD. One is left to his own research and collaboration and conclusions to find himself on right or wrong side of fence.

To find a simple answer of query that whether Term ' Total Turnover' includes GST or Excludes GST..to estimate presumptive business income u/s 44AD
Please facilitate to clarify this issue.

Sir/Madam My query is if 2 individuals are shareholders of a private limited company holding 49% and 51% shares and are also directors of the same Company Will they be treated as Significant Beneficial Owner and Will the Company file BEN-2.

Thanks in Advance

DEAR SIR,
I HAVE 2 QUERIES:
1. HAVING RENTAL INCOME FROM COMMERCIAL PROPERTIES, FILED GSTR 3B & GSTR 1 FOR FINANCIAL YEAR 2018-19 AND ANNUAL RETURN IS DUE FOR FILING. IT IS NOTICED THAT ITC WAS NOT CLAIMED WHILE FILING 3B/GSTR1.
MY QUERY IS WHETHER ITC CAN BE CLAIMED WHILE FILING ANNUAL RETURN AND CLAIM FOR REFUND?
2. SINCE GST IS PAID ON RENTAL INCOME FROM COMMERCIAL PROPERTIES WHETHER CHARGES PAID TOWARDS AMC FOR MAINTENANCE OF LIFTS CAN BE CLAIMED AS ITC?
PL GUIDE
THANKS & REGARDS

Dear Sir/Mam,

A Salaried employee.In future he planning to do a consultant work & employee work also.In his individual name gst registration is possible.Kindly give your guidelines.

Thanks & Regards,
S.Ilaayaraja

Sir
Along with an individual IT PAN, I also have an HUF IT PAN. Till last year, I used to submit form 15G for my HUF PAN on the SBI site, because my HUF income has been below the taxable limit.

However, I have become a senior citizen on 01-08-2019. Now when I attempt to submit form 15G on SBI site for my HUF tax account, the system does not allow me.

SBI officials told me that if Kartha is a senior citizen, one cannot submit form 15G for HUF tax account.
The only option available is to pay the tax through TDS and then claim refund through submission of IT return.

Is this argument correct ? Kindly enlighten me on the issue. I shall be grateful.

Anil P Vijapure
[Cell : 9372412121]
[Email : anil.vijapure@gmail.com]