SHAMNHU NATH TRIVEDI

If My Client has to adjust IGST LIABILTIY AND HAVE ITC IN CGST & SGST ACCOUNT CAN IGST LIABILTY MAY BE ADJUSTED THROUGH CGST & SGST ITC CREDIT


Daya
01 June 2022 at 12:13

How to charges GST in the case of

How to charges GST in the case of
Trade Discount and cash Discount.


GANGADHARA RAO
04 June 2022 at 12:13

Adding Branch

Respected Sir, one of our client has applied for branch adding on 18.05.2022, and generated ARN number for amendment of core fields, present status is pending for processing. My question is the client can do business in that branch. please if ok.do... any supporting please sir...


Daya

if capital goods sold on or before 5 years then , whether GST input availed should be reversed in proportionate rate. if
capital Goods purchased on 1st April 2020
Capital Goods A/c Dr 10,00,000
CGST Input A/c Dr. 90,000
SGST Input A/c Dr. 90,000
To creditors 11,80,000
if capital Goods sold on 1st May 2022 then what entry should be passed.


Karthik

How much refund we can claim in the below scenario ?
Outward Supplies:
a) Sales @ 5% 9,00,000/- output tax 45,000/-
b) sales @18% 1,00,000//- output tax 18,000/-
Total output tax 63,000/-
Inward Supplies:
Purchases @18% 7,00,000/- ITC 1,26,000/-
ITC available after 3B return is 63,000/- (i.e 126000-63000)
Maximum refund= 9L/10L*1,26,000-45,000
=68,400


Pragati Sharma
31 May 2022 at 17:47

E-way bill under GST

Dear Experts,

We are generating invoices less than Rs. 50,000 for one of our customers. Goods against each invoice are transported to the transporter(railways) in separate vehicles. Say five cars carrying five different invoices are sent to the transporter in 1 single day.

However, they are transported from the railway track in one single consignment by the transporter. Goods against more than five invoices are clubbed together by the transporter in one railway rack for transportation.

Query:
1. Whether the supplier required to generate an e-way bill?
2. Whether the transporter will be required to generate an e-way bill?


Daya

Whether interest is payable if duplicate/excess ITC taken or inelgible GST Input taken & subsequently reversed voluntary? If so, what is the percentage?


Daya

what to pay interest on GST excess claimed and what would be rate of interest .
GST excess claimed but not adjusted with output liability and excess GST input reverse in Next Month
Or
GST excess claimed and adjusted with output liability and reverse in next month.


R S Sai Kumar
30 May 2022 at 17:54

Input Claim missed during Feb 22

Dear members
One of my clients – has short claimed GST during Feb 2022. In GSTR2B the amount appearing is more than, what is claimed. Hence is it permissible to claim the missed amount in the GST returns of May 2022. Please clarify.
R S Sai Kumar


SHIVANAND SUTAR

We are exporter of pharmaceutical products. We purchase raw material from suppliers but don't bring it to our own place. Supplier gives delivery directly to third parties. ( Contract Manufacturing- Job worker )We get finished products manufactured from these third parties under loan license agreement basis. My query is whether we have to file ITC-04 or not considering following points 1) As goods directly move from suppliers to our loan licensee party we don't prepare any delivery challan. 2) We receive only invoice from suppliers with GST. 3) Third party (loan license)supplies finished goods with labor charges invoice. 4)Finished goods receive from third party is totally in different form than raw material supplied. Thus it is very much difficult to prepare ITC-04 in case of contract manufacturing






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