We have some ITC for the month of Jun and Dec 2023. Now we are filling GSTR 3b, ITC available in 2B but ITC not shown column 4 . Now I will filed GSTR1 this error come he system is checking on compliance for Form DRC-01C. Please try to file GSTR1 again after some time.

please suggest how can take ITC and filed GSTR1

Sir,
We conducted one study of Engineering Services and our study paper was published in one of e-Journal. We paid for publication charges. What will be the Account Head for Publication charges?
Thanks

Dear All,

I have a query regarding exchange rate to be applied for calculation of export obligation in USD (as per SB). Do we have to apply exchange rate prevailing on the day of SB filing or shall we apply exchange rate as per licence.

My understanding after reading attached POLICY CIRCULAR NO. 8(RE-98)/98-99 dt.:28.05.98 of DGFT, we shall take exchange rate as per EPCG licence for calculation of export obligation in USD and no need to apply exchange rate prevailing on the day of SB filing.

Is that correct? what is the practice followed in the trade?

Can anyone help me on this?

Can we sett off Input IGST available in equal proportions between output cgst and sgst? Please advise the process of utilisation of available input IGST.

Hi,
In the financial year 21.22, an Input Tax Credit (ITC) has been reversed in GSTR 3B as per the provisions of section 17(5) due to a misunderstanding.
Consequently, the same amount was paid through DRC 03 in the financial year 22.23 during the annual return filing.
This implies that the ITC has been reversed twice, and now there is a need to claim a refund through DRC 03 for the amount paid in FY 22.23.
I kindly request your suggestions regarding the options available for DRC 03 and any relevant case laws pertaining to this matter.

Thank you

my private limited company have 9L paid up capital and 15L as authorized capital can i borrow loan from my father 50L after passing resolution because i read on company act it say only 60% of paid capital only can borrow as loan, is there any way to infuse 50L loan from my father to my company

I have purchased a Tool/Die for production of Customer parts. Normally Customer is paying the cost of Tool upfront and it is property of Customer.
Here Customer is paying Tool/Die cost via amortisation in part price ( i.e., Cost of Tool Rs 10 Lacs, Part price settled Rs 10/Pcs, Tool cost amortised on 10 Lacs parts as Rs 1 per part, Customer PO of parts sale now Rs 10 +1 = 11/- till 10 Lacs parts). Tool ownership will be Customer only as he is paying the cost.

Please suggest the accounting of the same.

If i am paying subscription charges for use of software to MIDJOURNEY INC CALIFORNIA USA.
Payment done through Credit Card
Then TDS will be applicable or not on foriegn remittnce of the same.
and 15 CA form applicable for the same or not??

For A.Y. 2024-25 they say no tax payable till 7 lakhs… if an individual has dividend income of 5 lakhs & other income 1 lakh , will it qualify for exemption

Thanks in advance

Dear Sir,

I recieved call from GST office regarding my 3B filing dates in FY18-19. It is said that they gonna issue notice and wanted to meet me in office before doing so. he said discrepancy is correct as we did not file 3b on time. Is there any chances I can plea for late fee waive off or to pay late fees in installments. What can i plea for? T