Can a member of a Hindu Undivided Family (HUF) create their own HUF while continuing to be a member of the original HUF?

Dear CA Club Members,I am facing a situation related to the GST Invoice Management System (IMS) and would appreciate your expert guidance.We recently rejected a supplier's invoice and the corresponding credit note in the IMS due to discrepancies. Following this, the supplier raised a new invoice for the same transaction, and we have claimed Input Tax Credit (ITC) on this new invoice.My queries are:What are the specific implications for GST compliance and tax reporting when both the original invoice and credit note are rejected by the recipient in IMS?Since we have claimed ITC on the newly raised invoice after rejecting the earlier documents, how should the supplier handle their GST liability and reporting? Are there any risks of duplication or mismatches in the GST returns of the supplier and recipient?What is the recommended best practice for coordinating such cases between supplier and recipient to ensure smooth reconciliation and compliance under GST IMS?Are there any special considerations related to reversal or adjustment of ITC for the rejected documents once the new invoice is accepted?Any detailed insights, experiences, or references to relevant GST provisions and updates would be highly valuable.Thank you in advance for your support

I had filed my itr for financial year 2023-24 before due date on 30th July 2024. I was not aware of the exemption of hospitalization expense under sec 17(2) and paid taxes for that reimbursement. I want to apply for refund of the tax paid on the hospital bill reimbursement which is exempted under sec 17 (2). What is the last date to file revised return for the financialyear 2023-24?

If tax payable in ITR U is adjusted against refund we claim in original return, is this valid to be adjusted or we cannot set off such tax against refund? if we not claim any refund in ITR U then it is considered as no refund in original return?

Dear Experts
I'd like to know that still the Section 206AB is applicable or Omitted w.e.f. 01/04/2025?

Bill of march of A.Y. 2024-25 reflect in A.Y. 2025-26 In 26AS, so form 71 is applicable to claim TDS of bill of march 2024-2025 in 2025-26 and in books Turnover is less then 26AS, so there is chance of defect of return filed?

In case of composition, whether 1% tax is to be paid on exempted sale also ?

How to pass set off entry of GST in tally prime please show with an example

I AM REGISTERED IN GST AS PROPRIETORSHIP BUSINESS
TDS has been deducted under Section 194R and reflected in Form 26AS. Where should this amount be shown in the Income Tax Return (ITR)?

Which income head (e.g., Business/Profession, Other Sources) should this amount be reported under?

GST Liability on Amount for which TDS is Deducted under Section 194R?

here is the case scenario

f&o transactions
sale qty 15 cr, profit is 4 lakhs & loss is 10 lakhs
absolute figure is 14 lakhs but actual loss is 6 lakhs.

turnover would be 14 lakhs and let loss would be 6 lakhs then balance figure of 8 lakhs is not matching as per profit of 4 lakhs or loss of 10 lakhs

1. tax audit or itr?
2. if ITR (presumptive) - 6% profit need to show however actual loss is 6 lakhs, means need to do tax audit ?
3. if tax audit as per point 2. turnover would be 14 lakhs as per tax audit guidelines issued by icai but actual loss is 6 lakhs how to reconcile?

My 2 pov:
(1) For the profit and loss account, show the Rs. 14 lakhs as turnover (revenue figure) and then record Rs. 10 lakhs as losses and Rs. 4 lakhs as profits, resulting in net Rs. 6 lakhs loss, but that does not match totalling of credit and debit balance
(2) Sale - 15 cr and purchase - 15.06 cr resulting into 6 lakhs loss

Any suggestions?