Respected Sir,
As per books of accounts OCT 20 ITC is as of Rs 62,620

but

as per 2-A OCT 20 ITC is as of Rs 15,402

Some of the customers may be filing quarterly R-1

In such situation should I consider 2-A
or
should I consider ITC as per books of accounts

Heavy Difference has been found between both the ITC

Please guide me and oblige.

Respected Sir,
As per books of accounts OCT 20 ITC is as of Rs 62,620

but

as per 2-A OCT 20 ITC is as of Rs 15,402

Some of the customers may be filing quarterly R-1

In such situation should I consider 2-A
or
should I consider ITC as per books of accounts

Heavy Difference has been found between both the ITC

Please guide me and oblige.

Hi Sir / Mam,

Good Morning!!

We have RCM on Builders/ Developers i.e. If promoter (Builder/developer) fails to purchase at least 80% of the value of input and input services, from registered suppliers, he is required to pay GST under RCM.

I wanted to know whether EPC (Engineering, procurement & Construction) Company will also be covered under Builders/Developers to calculate the limit of 80% and apply RCM under GST law.

Please help me with the reference of section or rules under GST law.

Thanks and regards,
Devraj Dhwiti

Hi all,
GST (under RCM) paid for the month of March 2020 in the month of may 2020 bse of lockdown. When can credit of the same be availed ? whether for the month of march 2020 or for the month of may 2020?

Thanks in advance.

Respected Sir,

As I have to file 3-B, should I take the data as per 2-B or as per books of accounts. I have found a big difference between 2-B and books of accounts. What to do in such case ? Whether a penalty shall be levied if by the way if some difference is found between 2-B & books of accounts.

My friend has started the new start up and he has purchased the machinery, He has paid 20,00,000 + GST 18% 3,60,000 = 23,60,000- purchases on 01-11-2020. Sales started from 05-11-2020. Total sales is 8,00,000 + 5% 40,000.00 = 8,40,000. ITC purchase is 4,00,000 + 5% 20,000.00. He has registed for GST on 01-9-2020. He has fillied NIL return for the month of Sep and Oct. 

1. Can he claim the ITC of Rs 3,60,000 at the first month of the filing the GSTR 3B?

Outward GST : 40,000.00

Inward GST : 20,000.00

Net Payable : 20,000.00

Less : ITC on Cpiatl goods : 3,60,000.00

ITC c/f : 3,40,000.00 

2. Can he capitalize the asset and claim depreciation on the same?

3. Is there any other restrction on the claiming the ITC on capital asset?

can i avail GST credit on group gratuity scheme in case of a company. scheme covers risk for life cover and gratuity?

GST had been paid on long term lease of land on RCM basis. Later the deal got cancelled. 75% of lease premium paid at the time of lease agreement has been refunded back. The Lessor has filed a credit note in GST return which is showing under Credit note section in GSTR 3B and in Reverse charge- Credit Notes in GSTR 2B. If I reverse the amount of credit note at the time filing GSTR 3B, the balance in the Electronic Credit Ledger will get reduced by the credit note amount. What will happen to this amount, will it be refunded or transferred to the electronic cash ledger?

A person is rendering both service and goods will limit 40 lacs or 20 lacs apply for registration, any clarification on it

Facts:
1) Tax Payer's (TP) location is X
2) His Client's location is Y
3) Vendor's location is also Y
4) X & Y are at around 10 kms distance from each other
5) In other words, vendor and TP's client are located at same location. They are just 5 buildings away from each other.
6) TP picks up goods worth Rs.1.74 Lakh from his vendor and delivers to his client. It is a hand delivery. No vehicle is used.

Query:
a) Does TP need to generate E Way Bill?
b) If yes, which parts of E Way Bill are mandatory for this case?