A car purchase and resale to emplyee at the time of his retirement at cost below its book value as per the Balance sheet after giving effect to holding period deprectiation.
So whether GST has to be charge on the sale value on not ?
As the sale value is lower than its current book value
E.g purchase cost 50lakh
Deprecition 20lakh
Book value 30lakh
Resale value 28lakh

I have received the following mail from Department

Dear Taxpayer,

It has been noticed that while filing GSTR-4 of the FY 2019-20, you have inadvertently either

not filled up table 6 of the said return, or
filled up zero values therein,
even though you have paid the liabilities for the year through Form GST CMP-08s filed on quarterly basis. Therefore, to nullify the undue credit, the excess amount credited to negative liability statement has to be debited. In case where the amount so credited in negative liability statement, has been utilised; the recovery of amount so utilised is being done by debiting the amount in cash ledger. If sufficient balance is not available in cash ledger, the negative balance in cash ledger shall be adjusted out of the amount deposited through challan.

You are, therefore, requested to:

Deposit the amount equal to the negative balance in cash ledger urgently, in case there is a negative balance.
In case you have already paid the amount, now being debited in cash ledger or negative liability statement by including the same in any return/statement, the same can be claimed as refund by filing refund application in Form GST RFD-01.
Inconvenience caused is regretted.


At present my GST account shows negative cash ledger balance of -5207 and -5207 with CGST & SGST respectively.

Earlier during the first quarter of FY 2021-22 it showed 5207, 5207 in electronic cash ledger. So when i filed my CMP-08 for that quarter, I added 5207 along with the due tax amount

For Example my sale was for 1,00,000 , In tax section I file 500+5207 = 5707 as cGST and 5707 as SGST.

Please help what to do now as it is now asking for 5207+5207 = 10414

I have not filed my annual return for 2021-22 yet, and i am a composition dealer

Thank You

I have a query . Transporter unregistered but giving LR , RCM applicable ?

Hi. We have generated e way bill on 23-04-2022. But goods could not be transported due to transporter unable to generate consolidated eway bill and the 72 hours has expired for cancellation.
What should be done now?

Respected Sir/ Madam
i opt out Composition Scheme on 06/07/2021 , From 07/07/2021 My Status is regular Dealer .
So, which Months purchase will be Show While Filling GSTR 4 for F.Y.2021-22

hi
i want to know the gst rate for customised non woven bags that we got while shopping.on which shop address and all product discripteions are printed.

ALSO PLS LET ME KNOW GST RATE OF BAGS WHICH ARE NOT CUSTOMISED BUT ARE PLAIN WITHOUT PRINTING

Hi All

One of my clients do trading in imported goods. He had sold goods in the month of Dec 2020 which got lost in transit. Insurance company paid the amount excluding GST in FY 21-22. He did not issue credit note till date in GST returns. His customer didnt claim credit of goods which are not received by him.

What will be the treatment of under GST of the above transaction?
What will be the accounting treatment of the above transaction in FY 21-22 as books for FY 20-21 are already closed?

Thanks in advance.

Can restaurants serving liquor claim 100% itc ?

How to gst payable and claim ITC of import of goods cases,
A)after bill of entry generation igst payable to custom department alongwith basic custom duty and claim ITC as per GSTR-2B reflect.
B) OR directly pay to the gst department and claim ITC under RCM??

Hi All

Whether employer can claim ITC on GST paid on RCM basis on notice pay recovery?

Thanks in advance.