niloy sanyal (account manager) (777 Points)
31 August 20201) Pvt Ltd Company annual turnover for the F.Y. 2019-20 IS 1.51 Crores (I.E. Sale -1.20 crores & labour Charge 0.31 Crores) can we take QUARTERLY GSTR1 RETURN facility for the running F.Y 20-21 ......
2) For GSTR3B Can We Use 100 % Input Credit from April,20 to Aug,20 or follow IN PREVOIUS rule restricted to 10% ITC of the eligible credit available in respect of invoices
URGENT BASIS...….
CA Akshay Hiregange
(Partner - Audit & Assistance)
(4515 Points)
Replied 31 August 2020
1) Quarterly returns limit is 1.5 crore, so monthly returns to be filed.
2) Notif. 30/2020-CT relaxed matching GSTR 2A and ITC as per books for the period Feb - Aug 2020, with the condition that it is to be performed on a cumulative basis in Sep 2020 GSTR 3B returns. So for Apr-Aug 2020 can claim ITC 100% but ensure reconciliation with GSTR 2A done in Sep 2020.
Analysis of 20 GST Notices (including 2 Appeals) and Practise on Drafting(with recording)
GSTR 9 and 9C for FY 23-24 as amended by Notification 12/2024 dated 10th July 2024(with recording)
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