My Company received a bill of Rs 1, 45,000 from Advocate as Professional Fee and bill date is 15.05.2019. This bill actually for FY 2018-19 and and is received every year in March month. Now, we have already paid TDS of RS.20000/- on Professional Fees of Rs.200000/- for AY 2019-20.
1) Now, we have taken Rs.1,45,000/- as PY Professional Fees Expenses in Profit & Loss Account and Balance of Rs.55000/- shown as Advance and will be adjusted in Current FY. What should be the GST return for this transaction. Now the time limit for GST Return for March-19 is over. Can we take this in april-19.
2)Can we show 20000 TDS against the amount of 145000 in TDS return for FY 2018-19. Is it possible.
17 May 2019
But till date TDS return is not filed. Now, we have requested the party to release a new bill in 31.03.2019 instead of 15.05.2019. Now, The excess TDS of Rs.5500 we can claimed as Refund.
17 May 2019
Excess paid TDS of current year can be carried forward to next year. Year of remittance shown in the challan will not restrict such carry forward. Include the challan in the first quarter TDS return It will be allowed.
CAclubindia
