I seek your kind guidance on the following matter related to invoice numbering under GST:

Due to Larges number of invoices we are considering to issuing invoices where the invoice serial number resets to "01" at the beginning of each month — for example, starting from "01" on April 1st and continuing sequentially throughout the month, then again starting from "01" on May 1st, and so on for each subsequent month.

Kindly clarify whether this monthly reset of invoice numbering is permissible under the GST rules and whether it would meet the compliance requirements under Rule 46 of the CGST Rules.

Your expert opinion in this regard will be highly appreciated.

Ay 20-21 other income has been shown in capital gain inadveretntly because of which tax liability has arrived. Can we rectify even at this moment of time ?
or
the stipulated time has gone

PLEASE GUIDE ME AND OBLIGE.

a dealer having an annual sales turnover outward supply of about Rs. 20,00,000 per annum has paid gst at 1% Rs. 20,000 and filed quarterly returns. But he has not filed the annual returns. Now he has received a notice to file the annual returns. He is required to pay Rs. 10,000 towards late fee for the year 2019-20. Similar late fee is attracted the next years also. Can the experts give the provisions of GST Act in this issue and inform if there is any way to avoid the levy of late for small traders having very minimal sales.

application for rectification u/s 154 filed on 18/02/2025 for AY 2020-21 and the same was rejected by intimation on 04/03/2025 what is the time limit for filing appeal against this rejection

sir.
While preparing book of accounts for audit , it found that there is deduct of TCS (5%) On travel expenses payment . our owners went to aboard for business purpose . Same amount is reflected in our company 26 AS.
Can we deduct this amount while making income tax payment (ITR) .
Please advise
With regards
Binu

whether provision are made for Provision for taxation, Deffered Tax Assets and Deffered Tax Liability while finalisation of Trial Balance on 31st March.

Sir
one business entity have two units one at kolkata(principal unit) and another at Mumbai.
Kolkata unit have GST registration.
Mumbai unit only act as communicating agent on behalf of Kolkata unit for customer at mumbai.
Once order will finalised mumbai unit send customer's demand to its Kolkata unit .
Kolkata unit in turn send goods to mumbai customer alongwith bill.
Does Mumbai unit require GST registration?
If yes then why? I think as mumbai unit just act as a communication point for its principal unit at kolkata and final bill raised by kolkata unit no registration under GST required for Mumbai unit.
Please clarify
Abhijit

Sir Section 56(2)(x):
the following income Under Section 56(2)(x) shall be chargeable to income-tax under the head "Income from other sources”:
persons on or after the 1st day of April, 2017,—
(a) any sum of money, without consideration, the aggregate value of which exceeds fifty thousand rupees, the whole of the aggregate value of such sum;
(b) any immovable property,—
(A) without consideration, the stamp duty value of which exceeds fifty thousand rupees, the stamp duty value of such property;
(B) for a consideration, the stamp duty value of such property as exceeds such consideration, if the amount of such excess is more than the higher of the following amounts, namely:—
(i) the amount of fifty thousand rupees; and
(ii) the amount equal to 70[ten] per cent of the conside-ration:
Provided also that where the stamp duty value of immovable property is disputed by the assessee on grounds mentioned in sub-section (2) of section 50C, the Assessing Officer may refer the valuation of such property to a Valuation Officer, and the provisions of section 50C and sub-section (15) of section 155 shall, as far as may be, apply in relation to the stamp duty value of such property for the purpose of this sub-clause as they apply for valuation of capital asset under those sections:
Section 50C(3):
Subject to the provisions contained in sub-section (2), where the value ascertained under sub-section (2) exceeds the value adopted or assessed or assessable by the stamp valuation authority referred to in sub-section (1), the value so adopted or assessed or assessable by such authority shall be taken as the full value of the consideration received or accruing as a result of the transfer.

Means the provisions of Section 56(2)(x) will not apply in case the difference between the Stamp Duty Value and the Actual Consideration is not more than Rs.50,000/- or not more than 10% of Actual Consideration and no income is taxable under section 56(2)(x).

Sir
My Query:
The provisions section 56(2)(x) will apply or not in case the difference between the value ascertained under sub-section 50C(2) by DVO and the Actual Consideration is not more than Rs.50,000/- or not more than 10% of Actual Consideration. Which value to consider (DVO valuation or Actual Consideration)?

For example: Mr. A purchase house from Mr. B on actual consideration of Rs. 10,00,000/- where Stamp Duty Value of property is Rs. 12,00,000/- and the value ascertained under sub-section 50C(2) by DVO of the flat is Rs. 11,00,000/-. value ascertained DVO is not more than 10% of Actual Consideration.

Which value to be consider for income from other sources under section 56(2)(x) either Stamp Duty Value of property is Rs. 12,00,000/- or DVO valuation Rs.11,00,000/- or Actual Consideration Rs,10,00,000/-?
Regards
K M Goyal

Dear Experts,
Should we amend an E-Invoice (for Local & Export both) in the same month ?

Late filing fees for latest correction has been received after filling correction statement
Then what is such penalty and what is time limit for filing correction statement for avoidance of additional late filing fees?