ttention – Hard - Locking of auto-populated liability in GSTR-3B
Oct 17th, 2024

1. In order to assist taxpayers in filing their returns and minimizing human errors, GSTN has continuously improving the GST return filing process and in this endeavor the GST Portal now provides a pre-filled GSTR-3B form, where the tax liability is auto-populated from the declared supplies in GSTR-1/ GSTR-1A/ IFF by the supplier, while the Input Tax Credit (ITC) is auto-populated from GSTR-2B. A detailed system generated pdf of the auto populated GSTR-3B is also provided to all the taxpayers.

2. Now, taxpayers also have a facility to amend their incorrectly declared outward supplies in GSTR-1/IFF through GSTR-1A, allowing them an opportunity to correct their liabilities before filing their GSTR-3B. Additionally, to manage inward supplies and ensure accurate ITC claims in GSTR-3B, taxpayers have the option to take informed actions of accept/reject/pending on inward supplies via the Invoice Management System (IMS) which is now available to the taxpayers.

3. It may be noted that tentatively from January 2025 tax period, the GST Portal is going to restrict making changes in auto-populated liability in pre-filled GSTR-3B from GSTR-1/1A/IFF to further enhance accuracy in return filing. It is once again suggested hereby that in case any change is required in auto-populated liability, the same may please be handled through GSTR-1A.

4. However, locking of auto-populated ITC in GSTR-3B, after the roll out of IMS, will be implemented from a later date. For the same a separate advisory would be issued after addressing all the issues related to IMS, raised by the trade.

Which bussiness code , working for Deal Share Delivery . Tds have been deducted under 194c. please provide income tax business code

Dear Experts,

One of my friend filed Nil return in ITR 1 with old tax regime for AY 2023-24 before due date i.e. on 15 July. Same got process in the same month. But in December, He filed revised return in new tax regime in ITR 2 and paid some taxes. When this return got process, as per 143 intimation department assessed it as per old tax regime and put some extra tax liability as demand.

He filed Rectification multiple times but every time they process as per old tax regime and liability remains same.

My question is, Can we file rectification for revised return which is being filed after due date i. e 31 July? How can we address this situation?
Thanks in advance.

I had 262 shares of X company on various dates from 01-Dec-2019 till 01 Feb 2022.

On 22-Nov -2023, Y Company acquired X company.

Out of 262 shares 52% was converted into shares and was alloted 34 shares and for balance 48% was given as special dividend. We declared the same in last year assessment and tax was paid accordingly. The market value of shares on 22nd November 2023 was $926.40

Subsequently the shares was subdived in 1:10 ration and we were hold 340 shares.

This month we sold 10 shares $177.

What is the cost price per share to calculate capital gain?

ASMT 10 was issued on 14th sep but due to some technical glitch notice missed our eyes and on 17th oct we got a reminder to file reply by 21st oct. We replied asking for extension of time through ASMT-11..but till date no reply is received and window too is closed for reply...how to reply the notice now...?

Asseesee has not filed ITR's for AY 2023-24 & 2022-23, for which updated ITR can be filed in AY 2024-25. But he has a refund. Can he file updated ITR? Alternately, if updated ITR cannot be filed, can he file NIL ITR by not claiming TDS credit?
Kindly help.
CA Konkar

An individual having business income has filed his return of income under Old Tax Regim till AY 23.25. For AY 2024.25 he wants to file return with Old Tax Regime by filing form 10IEA. Can he go back to NEW TAX REGIME FOR AY 2025.26.

Sir/Madam

Can you suggest me under which head it should be capitalized??

Under Building or office equipment head??

Respected Expert,
Mentioning my NAME, my office received notice u/s133(6).(I think it is due to mentioning less salary income while filing ITR,that is because of arrears amount,which is given in last month of Feb-24 and that was denied by me on AIS portal while filing ITR.).Now I revised my ITR with correct salary amount.)
Now my school says that,you (I) give online responce to that notice "INSIGHT/VER/02/e-Verification/2024-25/................." {Type-Information Confirmation under e-Verification scheme 2021}.
I have humble request Please guide me to give response to above notice .(Note-office will provide its user Id & Password to me for this purpose.)
Thanks & Regard

Hi

I am providing astrology consultancy to clients outside India. Can I do export of services without GST. If yes what are the condition for that and the procedure.

Regards
Pooja