What is process for activation of bank account freeze due to non filling of return ?
This query is : Resolved
04 December 2024
What is process for activation of bank account freeze due to demand notice ? and also I was filed appeal
04 December 2024
Check if you have filed all the ITRs of last three years. If yes, apply to your ITO to remove your PAN from Non-filers' list.
04 December 2024
Sorry, sir. Our bank account was frozen due to a demand notice. We have now appeal filed for all demand notices. Is there any option to unfreeze our bank account?
04 December 2024
Sorry, sir. Our bank account was frozen due to a demand notice. We have now appeal filed for all demand notices. Is there any option to unfreeze our bank account in gst?
04 December 2024
You need to get order from appellate authority for unfreezing the bank account/s.
04 December 2024
ok sir, thank you.
04 December 2024
You are welcome.
04 December 2024
We did not claim the ITC credit of Rs 8 lakh in GST for the fiscal year 2018-19. This ITC amount is reflected in GST 2A, but it was missed due to a clerical error. The annual returns for FY 2018-19 and FY 2019-20 have been filed. How can we reclaim the ITC credit?
04 December 2024
To benefit from the retrospective relief provided by the amendments to Section 16 of the CGST Act, specifically sub-sections (5) and (6), taxpayers should follow a structured approach. Here are the key steps they should take:
Steps to Claim Retrospective Relief
1. Review Eligibility
Identify Relevant Financial Years: Confirm that the ITC claims pertain to the financial years 2017-18 to 2020-21.
Check Registration Status: Ensure that if your registration was canceled, it has been reinstated, as sub-section (6) specifically addresses this scenario.
2. Gather Documentation
Collect Invoices and Debit Notes: Ensure you have all necessary documentation for the invoices or debit notes for which you intend to claim ITC.
Maintain Records: Keep meticulous records of all transactions and any previous claims made to support your application.
3. File for Rectification
Electronic Application: Submit an application for rectification electronically on the GST portal.
Timeframe for Filing: The application must be filed within six months from the notification date of October 8, 2024, which means by April 8, 2025.
4. Include Mandatory Information
Details of Original Demand: Your application must include comprehensive details regarding any original demand orders related to ITC claims that were previously denied.
Form Submission: Depending on the nature of the original order, ensure you use the correct forms:
For orders under sections 73 or 74, submit in FORM DRC-08.
For orders under sections 107 or 108, use FORM GST APL-04.
5. Claim ITC in Returns
Deadline for Claims: For claims related to financial years 2017-18 to 2020-21, ensure that you file your returns claiming ITC by November 30, 2021.
For Canceled Registrations: If your registration was canceled and later reinstated, file your GSTR-3B within thirty days of revocation for claims pertaining to that period.
Refer: 1. https://cbic-gst.gov.in/pdf/circular-183.pdf
2. https://taxupdates.cagurujiclasses.com/new-time-limit-to-avail-input-tax-credit-under-gst-know-the-new-date/
Steps to Claim Retrospective Relief
1. Review Eligibility
Identify Relevant Financial Years: Confirm that the ITC claims pertain to the financial years 2017-18 to 2020-21.
Check Registration Status: Ensure that if your registration was canceled, it has been reinstated, as sub-section (6) specifically addresses this scenario.
2. Gather Documentation
Collect Invoices and Debit Notes: Ensure you have all necessary documentation for the invoices or debit notes for which you intend to claim ITC.
Maintain Records: Keep meticulous records of all transactions and any previous claims made to support your application.
3. File for Rectification
Electronic Application: Submit an application for rectification electronically on the GST portal.
Timeframe for Filing: The application must be filed within six months from the notification date of October 8, 2024, which means by April 8, 2025.
4. Include Mandatory Information
Details of Original Demand: Your application must include comprehensive details regarding any original demand orders related to ITC claims that were previously denied.
Form Submission: Depending on the nature of the original order, ensure you use the correct forms:
For orders under sections 73 or 74, submit in FORM DRC-08.
For orders under sections 107 or 108, use FORM GST APL-04.
5. Claim ITC in Returns
Deadline for Claims: For claims related to financial years 2017-18 to 2020-21, ensure that you file your returns claiming ITC by November 30, 2021.
For Canceled Registrations: If your registration was canceled and later reinstated, file your GSTR-3B within thirty days of revocation for claims pertaining to that period.
Refer: 1. https://cbic-gst.gov.in/pdf/circular-183.pdf
2. https://taxupdates.cagurujiclasses.com/new-time-limit-to-avail-input-tax-credit-under-gst-know-the-new-date/
Message likes :
1 times
05 December 2024
ok sir, thank you.
05 December 2024
Good Luck.
23 December 2024
9.6
In view of the facts and circumstances of the case, the prevailing position of
law applicable on such facts, as discussed in the preceding paragraphs, the
Assessing Officer (AO) is hereby directed to verify and subject to the same, allow
Foreign Tax Credit of Rs.2,96,522/- in the hands of the appellant, in accordance
with the provisions of section 90 read with rule 128. The Grounds of appeal are
allowed for statistical purpose.
10. In the result, the appeal is allowed for statistical purpose
What is the meaning in income tax
In view of the facts and circumstances of the case, the prevailing position of
law applicable on such facts, as discussed in the preceding paragraphs, the
Assessing Officer (AO) is hereby directed to verify and subject to the same, allow
Foreign Tax Credit of Rs.2,96,522/- in the hands of the appellant, in accordance
with the provisions of section 90 read with rule 128. The Grounds of appeal are
allowed for statistical purpose.
10. In the result, the appeal is allowed for statistical purpose
What is the meaning in income tax
23 December 2024
The appeal filed for credit of tax paid in foreign country is eligible for deduction in calculation of tax liability of the assessee. The ITO is asked to verify the details and allow the credit. In simple words, the appeal has resulted in your favor.
23 December 2024
When will the appeal result be reflected in the income tax order, and what is the next procedure at the income tax office?
23 December 2024
Need to follow up your jurisdictional ITO for final adjustment/ & order.
24 December 2024
We registered for ESI No in 2019, mentioning 10 employees. However, their details were not updated in ESIC. A notice has been raised for pending ESIC contributions against these 10 employees, and after a few months, a recovery notice was issued. How should we handle this situation?We registered for ESI No in 2019, mentioning 10 employees. However, their details were not updated in ESIC. A notice has been raised for pending ESIC contributions against these 10 employees, and after a few months, a recovery notice was issued. How should we handle this situation?
24 December 2024
Better consult local professional having expertise in such matter. You need to clear your status after registration application so that the officer may allow some concession in interest, penalty and even dues.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- USE THE BANK ACCOUNT OF WIFE
- If ITC not claimed is there any issue
- Deemed rent on house property
- Commission from nepal
- FILLING OF 26QB FOR ONE SELLER AND 2 BUYERS-ONE BUYER REGISTERED AND OTHER ONE NOT REGISTERED
- REBATE UNDER SECTION 54 FOR SHORT TERM CAPITAL GAIN
- Rental Agreement for Joint property holders
- SALE OF RESIDENTIAL HOUSE PROPERTY PURCHASE AN AGRICULTURAL LAND
- 60 days significance in defining a resident
- TDS on payment to NRE account
- Event company queries
- Accounting Group of FDR
- List of Exampted Allowance or head of income for salaried employees after 2025 budget
- Can we transfer or claim refund of Input tax credit of deceased proprietary business
- Place of supply or billing addres which applicable for tax
- The recent CBIC clarification via Circular No. 231/25/2024-GST dated 10.09.2024 itc Allowed demo car
- CSC centre individual bank transaction limit
- I need your guidance to register trademark in mumbai without help of agent
- Leaves on article ship
- Tax implications on withdrawal of EPF and NPS
Trending Online Classes
-
25 Hours GST Scrutiny of Return and Notice Handling(With Recording)
Industry Expert04 February 2025
CAclubindia
