Dear sir/madam,
We have missed to collect form for the month of June for the fy 17-18. Can we collect the form now.

Dear Sir,

My first query is... Like in FY 2017-18 , my company had already used MAT credit but after assessment completion in FY 2019-20 it comes to know that we still have MAT credit because of some reversals in FY 2017-18.....then how to bring that MAT credit again in books ? Please let me know the entry to be passed.
If the effect is required to be given in P&L then in which head ??

My second query is......Like for FY 2018-19 after assessment it comes to know that there is a refund which is yet to receive but it is nowhere in books...then how to bring that too in books in FY 2019-20 ? What entry is required to be passed for the same ??

Dear Sir,

Prescrutiny Error is coming while uploading Spice+ form on resubmission. Do you have any idea how to resolve this ? Thanks in advance.

What is time limit for issuance of notice u/s 133(6) of the income tax act for ay 2013-14 ?

Hi,

I want to cancel PTEC of proprietor(1st case) as well as partners of LLP(2nd case). What is the procedure to do the same. I can see online cancellation of PTRC after I login into mahagst website. However PTEC of partners or proprietors is not available online.

Pls advice on the procedure of the same.

Regards,

Hi Respected Members,

I want to take your valuable opinion on GST ITC question based on the below case study:

An GST Registered Entrepreneur purchased some Interstate goods from Registered Supplier in FY17-18 and paid respected IGST on the purchased. For this all the relevant documents Like Invoice, Bank Payments etc is available with Entrepreneur. These goods are exported and ITC Taken on this Export.

But in FY 19-20 it is observed that the supplier didn't show the relevant sales while filing GSTR1 and not visible in Entrepreneur 2A. We are in doubt that supplier even not paid the GST Collected above to the authorities. Further it is come to notice the supplier also cancelled his Old GST Registration and taken new one in the same Jurisdiction.

My Question is:

1. So whether this ITC is valid or it needs to be reversed?

2. Do the Entrepreneur needs to take any action? He is Bonafide and have all supporting documents to prove that he actually purchased goods but his supplier didn't show the sales?

3. Entrepreneur is exporter and has to submit all the information related to itc under circular 131 so this needs to told in circular?

4. Is there any circular or notifications to support this action?

Thank you all for your time and feedback.

Regards
Manjeet

Sir,
Form no.60 .this form used when transactions applicable

WE HAVE FILED TWO EXPORT INVOICES DURING AUG.2019, THE BOTH TWO INVOICES DISPLAYS IN THE TABLE-6A OF GSTR-1. WHILE FILING THE REFUND ONLY ONE INVOICES VALIDATED. ANOTHER INVOICE SHOWS YOU HAVE NOT FILED THE INVOICE IN THE RETURN. HENCE, HOW TO VALIDATE THE SAME OR FILE THE REFUND WITHOUT CONSIDERING THIS INVOICE. THE BUSINESS 100% EXPORTS.
PLEASE SUGGEST / SR

WE HAVE FILED GST REFUND ON EXPORTS WITHOUT PAYMENT OF IGST. THE PROPER OFFICER ISSUED DEFICIENCY MEMO. REASON : PFMS ACCOUNT NOT VALIDATED. BUT WE HAVE VERIFIED IN THE PFMS, DISPLAYS OUR ACCOUNT VALIDATION IS SUCCESSFUL. PREVIOUS YEAR REFUNDS WERE ALSO RECEIVED IN THE SAME ACCOUNT NUMBER. WE HAVE REGISTERED THE SAME ACCOUNT NUMBER IN THE ICEGATE AND GET CREDITED THE DRAWBACK. BUT THE OFFICER ISSUED THE DEFICIENCY MEMO DURING THE LOCK DOWN PERIOD. PLEASE LET ME KNOW HOW TO REPLY TO THIS DEFICIENCY MEMO WITH RELEVANT CIRCULARS/NOTIFICATIONS. PLEASE SUGGEST.
REGARDS
SR

A newly incorporated tech startup (Sole Proprietor) plans to export software from coming month i.e, May-2020. Export turnover might be around 20-30 lakhs p.a.

So can it apply for LUT under gst ?

Also, what is the value of stamp paper that needs to be taken for furnishing LUT ? Is Rs. 100 sufficient ?

Please guide me. Thank you.