Forgot to deduct the credit note issued figures of HSN in July 24 GSTR 1A. Should had given negative figures. Is it ok to deduct the same from August GSTR 1 HSN?

Respected Sir,

We are writing to seek your esteemed guidance regarding a matter related to the Goods and Services Tax (GST) law in India, specifically concerning the refund of CESS paid on coal used for manufacturing purposes under the Inverted Duty Structure.

Our company is engaged in the manufacturing of Steel & Iron, and we regularly supply our products to Merchant Exporters as well. As per our understanding, the GST law allows for a refund under the Inverted Duty Structure when the tax on inputs is higher than the tax on the output. However, we have encountered a situation where the refund of CESS paid on coal, which is a critical input in our manufacturing process, is not permitted under the current provisions.

Our Queries:

• We would like to clarify whether the refund of CESS paid on coal used in manufacturing is permissible under the Inverted Duty Structure, especially in the context of sales to merchant exporters.

We would be grateful if you could assist us in exploring any other avenues or provisions within the GST law that might allow us to claim relief or refund on the CESS paid on coal. Given the significance of this matter to our operations, we kindly request a prompt response to this query. Your guidance will greatly assist us in ensuring compliance with the GST regulations while optimizing our input tax credit utilization.

We appreciate your assistance and look forward to your valuable input.

We would like to appoint Peer review auditor in our company. Any one could provide list of peer review auditor(CA) in chennai.

Auto Dealership Car Vehicle Closing Stock Valuation : Is it right to Reduce Incentives like MAC , DRF to reduce from Year End Closing Stock ? Please guide as per IndAS
unsold stock ,to come at correct valuation ,is it appropriate to reduce MAC [Wholesale Incentive] & DRF from Closing Stock?

Invested in Single Premium ULIP policy in 2005 Rs.1 lakh with coverage of same amount. Current Value is around 18 lakhs. What are the tax implications on partial or full withdrawal. If the withdrawn amount is taxed, it will be taxed under which head. Is there an opportunity to set off Short/Long Term Capital Loss or Business Loss against such withdrawals

I have ICICI PRU life time ULIP taken in year 2005 (with 2078 as policy end year), with 50,000 rupees as yearly premium and 5 Lakh rupees as life cover and 3 Lakh rupees as accident & disability cover.
Some amount is withdrawn from policy in years 2009, 2014, due to which life cover is reduced to 1.8 Lakh rupees but 3 Lakh rupees as accident & disability cover still exists.

Can I consider the total sum assured as 8 Lakh rupees before withdrawals and as 4.8 lakh rupees after withdrawals.?

What are the taxes to be paid if I surrender the policy now and get the current fund value.?
Does it qualify for section 10-10 (D), where in, Tax need not be paid.?

As per my understanding, Section 10-10 (D) qualification rule for the ULIP issued on or after 1st
April 2003 but on or before 31st March 2012 is: The premium payable should not exceed 20% of the actual capital sum assured, for any of the years (during the term of the policy).

Is this rule met.? Let me know if I am missing anything. Thanks.

Taxpayer has business of printing. They used this SAC code when paper is supply by the recipient and the recipient is registered under GST. Taxpayer observation is that since recipient is registered and input (paper) and content supplied by the recipient it constitute a job work and hence charged GST @ 5% with SAC code 9988 [ we are talking about only BOOK printing ]. Accordingly when paper is supplied by the recipient but the recipient is not registered under GST we charged 18% under SAC code 18%. But recently we got an order for book printing from an unregistered recipient who told us whether the recipient is registered or not not registered GST on book printing is 5%. Please suggest us in this matter

Sir/Madam

Withdrawing my superannuation money from LIC
My Date of Birth 03/11/1965/59 Year
I have been working with this employer since 2011 (13 years+)
Given to understand that LIC Superannuation withdrawals are exempted from tax subject to the employee served the employer for more than 5 continuous years. I want to know under which Section of Income Tax Rules this tax is exempted to inform the LIC Superannuation Team to not to deduct tax TDS and inform my employer to not to deduct tax at my current slab rate which is 30%. Please help me to avail eligible tax exemption on this LIC Super annuation.

Under construction property sold for 6400000 received money in 3 installments of 2400000 lakhs, 2000000 lakhs and 2000000 lakhs before the sale deed is registered. All advances are shown in GST and GST is paid but the sales entry and adjustment with advance is not done. Is there ant interest or penalty payable for the same. Sale Date : 17-08-2023. Amendment for rectification will be done in August 2024.

Invoice issued and payment received for supply of goods. But goods not removed due to non availability of vehicle. Hence e way bill not generated and invoice not cancelled since it is e invoice. After 15 days , now the company wants to move the goods. Is it safer to transport the goods along with the old bill by taking fresh e way bill? Thanks in advance.