An assessee have filed gst return for the financical yeat 2018-19 return in 30/10/2019 and availed Input credit. Notice is served as liability u/s 73(5) payable . Some of the transactions are B2B & some of other sales are B2C. How to avoid this liablity ?

As per rule 42 of Cgst rules, reversal of ITC computed annually if exceeds than monthly reversal then the excess amount so calculated will be reversed with interest and the interest shall be calculated from 1st April of next FY.
As per sec 50(3), interest to be calculated from the date when it is utilised.
Thus in case of reversal of itc under rule 42, from which date ,interest is to be calculated?

Hello, Could anyone please help me on the below query

We hired 3 Jeep for our Workers commutation from July . The person providing us the service is an Individual & the bill value from July to September is Rs. 253820/- .
In July month bill amount is around 37000/-, August it is around Rs. 99000/- & for September Bill is 117000/-

Kindly guide us with the Section & Rate that should be deducted?

Hello

if some BOE is not reflect in GST 2a last two year but we claim itc in gst 3b. Please suggest what we do?

Dear Sir,
My question is suppose I am salaried person and my income is above the exemption limit of Rs.2.5 Lakh and suppose during the full financial year If I have done only one intra day trading and suppose the profit is less than 6 % then do I come to Tax Audit although the turnover is very low. I ask with the following example.
Suppose I purchase the 500 share of Indian Oil @ Rs.100 and sold intraday @ Rs.100.10 so my profit will be Rs.50/- this income will be clubbed into my income @ applicable tax slab. Now during full financial year I have done this transaction only then do I have to undergo tax audit as my taxable income is above exemption limit say Rs. 14 Lakh from salary ??

as I have heard that If profit from Intraday Trading is declared less than 6% and Total Income exceeds Basic Exemption Limit When these 2 conditions are satisfied, Tax Audit will be applicable Is this true ? If this is true then I should avoid intra day as it attracts tax audit.
Please reply at the earliest.

Hi All,

Am a CA articled student, can I apply for CS course under CA articleship?

Yogeesha

DEAR SIR, WIFE HAS FILED A RETURN ON BEHALF OF HER DECEASED HUSBAND IN THE CAPACITY OF A REPRESENTATIVE ASSESSEE. THERE WAS TDS MADE FROM HER HUSBAND PAN FROM PENSION AND INTEREST. SHE HAS PAID SELF ASSESSMENT TAX ALSO. THE TAX AUTHORITIES HAVE SENT A DEMAND FOR THE AMOUNT OF TDS MADE FROM HER HUSBAND AND HAVE CONSIDERED ONLY SELF ASSESSMENT TAX STATING THAT THE TDS IS FROM A DIFFERENT PAN. RECTIFICATION AND GRIEVANCE TO THE IT AUTHORITIES HAS NOT SOLVED THE PROBLEM. KINDLY ADVISE WHAT IS TO BE DONE TO CLOSE THE DEMAND THANKS & REGARDS

Dear Sir,

Our Service provider from UAE, they have provided technical service at UAE on our export product.

Can you help for WHT tax deduction?

UAE is Tax Free Country
They also provide us FORM 10F and NO PE in India Certificate.

Kindly ADVICE FOR WHT it is applicable or Not? if Yes, @ ..%

Thanks,

Malcome

RESPECTED SIR
MY CLIENT GOT NOTICE TO REVERSE ITC AMOUNT 105000 WHICH CLAIMED IN NOV 2022 . ITC NOT SHOW IN 2A/2B. ITC NOT USED ALSO NOT SHOW IN CREDIT LEDGER. CLIENT FILLED NIL RETURN FY 22-23. CLIENT DID NOT FILE GSTR9 FY 22-23. WHY NOT SHOW IT IN CREDIT LEDGER. PLEASE ADVICE HOW I RESPONSD IT. NOW CAN I REVERSED IN GSTR9 FY 22-23.

Dear Experts,
1 A company needs to pay the late fee and interest under GST
2 Whether this company needs to pay these two amounts under Interest column only or Interest and penalty Columns?
3 Pls clarify