We have received the debit notes in march`2019 for the supply(s) made by us till Dec`2018.
We are in monthly return mode in GST.
The issue which i am facing is that we have NIL Sale in the March`19 so debit note we shall be passed through
GSTR 1 with ease but problem with GSTR-3B coming because of negative figure which is not accepting in GST 3B.
The companie(s) from which we had received the said Debit Note is showing all the debit notes in March`19.

Now mismatch will arise in our balance sheet / Ledger VS companies balance sheet / Ledger if we file the same in April`19 & if we file same in mar`2019 then mismatch will come in our GSTR 1 & GSTR 3B because of the same un-acceptable negative figure in GSTR 3B.

Kindly tell us how to handle this situation in accordance with the law of GST.

Dear Experts,
Mr. A is proprietor who has taken personal loan in his name however bank has directly credited the loan amount in Firm's current account also the EMI thereof will be debited from firm's current account.
My query is:- since the loan is in proprietor Name in books should I credit has capital account and when EMI is debited then we should debit his capital account.
Or we should show this amount as secured loan in balance sheet,

Pls guide...

Thanks
Karan

in fy 2018-19 there is closing stock 50 lacs itc is nill . can i take composition scheme for gst. my turnover is less than 1 crore

Hi everyone,

My question for today is

Currently, I'm working in a company as a accounts executive now I have decided to take up the CA to build my career. Is it possible to take up CA while working or is it mandatory to leave the current job & to undergo for articleship under a Professional CA Firm?

If tds is not applicable to tenant being an individual then the follwing are the questions...1. In this case the rent paid by tenant is required to be included in the ITR form by owner.2. If yes then tds against this rent amount will be zero. So Income tax deptt may ask why tds has not been deducted by the tenant.Please help and reply.

Dear Experts,

One of my client issued Tax Invoice of Rs. 1,18,000/- on dtd. 09-04-2019 & issued
E-way Bill on dtd. 12-04-2019 (50 Km. valid upto 13-04-2019) and mentioned invoice
details as well.

Is the above transaction / supply is correct or any violation of law?

Please guide, its very urgent.

Regards,

Rakesh Sharma

PURCHASED MOTOR CAR TYRE . MOTOR CAR IS USING OUR MANAGER FOR GOING TO OFFICE FROM HIS HOME.
MOTOR CAR CAPACITY IS 5 PERSON INCLUDING DRIVER.

MY QUESTION IS CAN WE ARE AVAIL GST INPIT CREDIT ON PURCHASES OF MOTOR CAR TYRE.
IF NO PL. SPCIFYSECTION & REASON

REGARDS
RAJKUMAR GUTTI

Can I draw in cash weekly a sum of Rs 10,000 for my home expenses out of my business income ? Whether may be some income tax issue on such drawings ? Please guide me and oblige.

Dear Sir,

In Private Limited company the Audit Fees Provision can pass entry with GST or without GST. The payment of audit fees to be paid in Oct-2019 after completion of audit & return filed. The auditor issuing bill of audit in month of Oct-2019.
The Audit Fees is 50000/-without GST charged and with GST amount is 59000/-.


Second query is the company purchased a car for value of Rs.8,83,594/-in month of March-2019.
The Party issue a bill taxable value 609375/- and CGST,SGST---170625 = 780000/-
GST-CESS-17%--ON TAXABLE VALUE--609375/- CESS IS 103593.75.
Any TCS on Motor Car Purchase.

Please advise me how to make the entries in books of accounts & GSTR-3B & GSTR-1 Return.

Thanks & Regards
N Kadam

One of my client has received advance receipt of rs 180000 (200000 /- less 10% TDS ) in Dec-18 . So what will be the effect of this advance receipt in GSTR-1 & GSTR-3B of Dec-18 and what will be the amount whether 180000 is to consider or 200000 ?