Hon'ble Members,
I am a quarterly GSTR return filer, for Oct 21 i had disclosed sales in GST (IFF) and paid GST through net banking however, while filing GSTR 3B for quarter ended Oct- Dec 21 I had filed nil return by mistake. Now when i will file GSTR 3B return for Jan - Mar 22 i will disclose it but, under new GST system of disclosing bifurcation of gst liability for each month if i state it as liability for Oct 21 then will interest be calculated even though I had paid gst in Oct 21 since, i am adjusting/ debiting it to cash ledger now. but i had paid it on time. Please suggest a solution.

My wife and I have availed a single joint housing loan for our self occupied house. This house is jointly owned by both of us. Can we both avail interest deduction upto ₹2 lakh for interest and repayment of home loan under Sec 24 of Income Tax separately? Can we both claim the interest deduction in different ratio? Please advise any condition for payment of EMI from both Bank Account?
Dharam Pal
9810600330

Respected Expert
Please provide Guidance
I Purchased goods in January 2022. availed ITC in Jan as purchase was showing in 2B of Jan. In Feb returned half the goods as it was damaged. Seller issue credit note and showing in Feb GSTR 2B . Now ITC has to be reversed by me (buyer). Does any interest has to be paid in Feb GSTR 3B.

Thanks in advance

What would be the grouping of the following, in order to prepare books in excel:
Inter Company Clearing A/c
Profit Center Clearing A/c
Cost of Goods Sold
Raw Material Consumption
Change in Stock of Finished Goods
Change in Stock of Semi-Finished Goods

Thanks in Advance!

If housing society earns interest on FDs with nationalised banks; can expenses like maintenance be deducted from said FD interest income????

Please advise tax benefit on Home loan Interest of Joint Property purchase by Husband and wife for self occupied 2.Also advise is it any condition for payment of EMI from both Bank Account or Joint Account?

Dharam Pal
9810600330

whether TCS will be applicable on brass scrap.

HI SIR

I HAVE PROPERTISHIP BUSINESS LESS THAN 20 LACS.
MY QUIERY IS
WHEN GSTR-1 FILING TIME HSN SUMMERY COLUMN ALSO FILLUP OR NOT?
PLEASE HELP ME

Dear Sir,
One Individual has two kind of business like Manufacturing & Trading in Manufacturing. In order to avoid difficulty in business he want to split business in two categories like Manufacturing & Trading Business. Trading Business is regular business which depends on other for buying goods outside & internally.

My Query is follows.
1.Proprietor want to get registered under Composition Scheme under GST wef from April 2022 onwards then is it possible to get registered under new name.
2.If yes then formalities required to start the Manufacturing the new business.
3. What is the impact on GST on receiving goods from the receiver / new manufacturer?
4.From Income Tax angle Composition dealer has to maintain books of account as usual manner like Manufacturing account , Profit & Loss account, Balance Sheet etc?
5.Books of account are to be maintained by the Composition dealer as usual manner or it is not required if so.
6.If manpower is more than 20 in manufacturing unit then PF ESI rule applicable or not.
7.As most of the employee are coming under Unskilled & comfortable under non cheque pay roll method & the figure is more than 10 K per month then is it possible to make them payment on monthly basis?
Please reply my queries at an earliest.
Thanks & regards
Pramod Nayak

Sir pls guide as How many Accounting Standards have been issued by ICAI so far and how many Accounting Standards are effective as on date.? Thanks