In the FY 2021-22 our transport business was under RCM, we issued our sale invoice towards transport service to the customer RCM-YES in our GSTR1,inturn, the customer paid the RCM for the transport services received.

We declared, the above referred transaction sale in our monthly GSTR1 under B2B category taxable sale with RCM-YES.

While reversing the common Input Tax credit on Exempted supply, whether, we need to include the RCM sale value along with exempted sales to reverse the common Input Tax credit.

Please advice.

Ramesh.M

Dear Sir,
A company has six branch in different states, therefore having separate GSTIN also. But the company has only one current Account. All branches payment, expenses, credit are being done with same bank account.

In this scenario since we have different GSTIN in all states, how to maintain Account of separate branches with one bank Account wherein most of the debit & credit entries are related to other branches.

Pls guide how to tackle this scenario....

Thanks

Hi sir, iam Ramesh,
ITC wrongly availed & not utilised till now Gstr3b of FY 24-25, while filling Gstr9 table 6J shown difference as negative value of excess claimed ITC, how to resolve it,
How much penalty, please guide me sir .

While filing my ITR i have shown VDA as business income in VDA schedule but the same is not getting auto populate in Schedule SI and the tax is getting calculated at slab rate instead of Flat 30%. Anybody have a solution for this?

Can any of the esteemed members in this panel throw light on the below :

Lessor (Jointly owned by 2 people) has rented out property to lessee. Lessee has given this property for rent to various people as paying guest accommodation. Lessee receives Rs. 10,000/- as rental income from each person. Whatever rent the lessee in receiving, he is keeping some amount and the rest (around 5 Lakhs) is being transferred to the lessor (to both the individuals equally).

Is GST applicable in the hands of lessor and under which section ?

Thank You in advance

The supplier is procuring raw tobacco from farmers. On which 5% gst is payable on RCM basis and ITC of the same can be availed. But due to clerical error in GSTR-3B the same was not shown in GSTR-3B for FY 2024-25. The same was declared in GSTR-3B of Sept 25. Can I show the same GSTR-9 of 2024-25? if yes, Where the same can be shown?

In the month of January 2025, we had reported advance income in GSTR-1. While adjusting the said advance against actual sales, the adjustment amount exceeded the taxable sales, due to which sales in GSTR-3B became negative.
Whether the negative sales shown in GSTR-3B can be adjusted in the subsequent tax periods or in the next financial year?
If yes, within what time limit such adjustment is allowed under GST law?

Whether we are eligible to claim a refund of the excess tax paid due to such adjustment?

a private company is a subsidiary of company incorporated outside India and its turnover is only Rs 40000 and paid up capital is Rs 1 lakh .
small company definition exclude to a subsidiary company so it means it is not a small company .
for caro since it is pvt company and satisfy the condition of exemption so caro will not apply.
For IFC(Internal financial control) also satisfy exemption limit so ifc also does not apply. being a subsidiary of a foreign company does not affect exemption of CARO and IFC.
Kindly confirm if the above understanding is correct for the purpose of audit report.

So i have started my articleship in June 23 and took a transfer on oct 2nd and currently not registred anywhere. Also my form 109 has been filled but if i have to start my articleship freshly like from the very start how do i proceed with it. I have been selected in one of the big 4 and they are saying they dont hire a transfer case so i need to have fresh registration

is hsn inward sheet compulsory for gst 9 ? dealer has turnover of only 2.25 crores.