Respected Sir

F & O Transactions


Option T/O- 28 Lakh
Total Sales- 2.74 Crore
Total Purchase- 2.80 Crore
Total Charges- 1 Lakh

So., Total Loss - 7 Lakh

To Claim loss of 7 Lakh For the A.Y. 2025-26
How to Show this entries in P&L

1. Show Sales and Purchases and expenses
or
2. Without Showing Purchase and Sales , Directly Show Loss From F & O Transactions- 6 Lakh
and Other Charges - 1 Lakh

Hi Everyone,

We are facing an issue related to Inverted Tax Structure under GST, and I wanted to get your views and experiences on this:

1. In case of Inverted Tax Structure, we are losing ITC on the service portion since the refund formula allows refund only on input goods, not on input services. This unutilized ITC just sits in the Electronic Credit Ledger (ECL) & accumulates and practically doesn’t benefit the organization in any way.

2. I wanted to understand which industries are facing this issue and how they are strategically handling it

3. If anyone has faced and overcome this issue earlier, it would be great to connect and discuss the strategic moves adopted — it might help our organization handle this situation more effectively.

CLIENT HAS THEIR REGISTERED OFFICE IN MAHARASHTRA, WHERE ALL ADMINISTRATIVE AND MANAGEMENT DECISION ARE TAKEN. BOOKS OF ACCOUNTS ARE ALSO MAINTAIN IN MAHARASHTRA.

THE CLIENT'S FACTORY IS LOCATED IN GUJARAT, FROM WHERE ALL SALES ACTIVITIES ARE INITIATED.

CA PERFORMING AUDIT SERVICES AND PROVIDING CONSULTANCY SERVICE TO THE CLIENT FROM MUMBAI AND CA ARE PROVIDE MONTHLY RETAINERSHIP SERVICE TO THE CLIENT AND INTEND TO RAISE A GST INVOICE FOR PROFESSIONAL FEES.

KINDLY GUIDE WHETHER THE INVOICE SHOULD BE RAISED ON THE CLIENT'S REGISTERED OFFICE IN MAHARASHTRA OR ON THE FACTORY IN GUJARAT OR ON CLIENT INPUT SERVICE DISTRIBUTOR NUMBER FOR THE GST COMPLIANCE PURPOSES.

Hii!!
My factory is register in Gujarat from where sale is made and purchase done . books of account maintain in mumbai. Tax audit is applicable. Place of supply for the audit services is Gujarat or maharastra.

I am providing recycling services of metal scrap.
So which sac code should be mentioned 9988 or 998941??.
Basically, company send metal scrap to me. After recycling of that scrap, i send back to the same company.

"Subject: GST Liability on Unfulfilled Supply and Converted Loan



I had given ₹18 lakhs to a GST-registered supplier for goods supply, but they failed to deliver the goods. Instead, they returned ₹6 lakhs and converted the remaining amount into a short-term loan. Since the supplier didn't fulfill the original supply agreement, I'm concerned about the GST implications.

Please clarify:
1. Is the supplier liable to pay GST on the original supply amount?
2. Does the conversion of the remaining amount into a loan affect the GST liability?
3. As a recipient, do I need to reverse any Input Tax Credit (ITC) claimed earlier?

Dear sir,
I have received intimation order for the year 2008-09 tax demand 63000/--but assessing authority wrongly assessed, they not to taken exemption like HRA and 80c exemptions, writnow I'm retire in income tax portal showing demand what to do in this situation pl help me

Dear Members,
In GSTR 9, Table 6 new row Table 6A1 ITC of preceding financial year availed in the financial year (which is included in 6A above) is shown, now if my ITC is of 31/03/2025 shown in GSTR 2B in F.Y. 2024-25 for April month & claimed in April 25 will it be reported here. In short Table 6A1 ITC of preceding financial year is what? is it ITC reflected in Previous year GSTR 2A/2B/8A and availed in current year or just ITC for invoice of previous year availed in current year.
Please Clarify

Section 194I is not showing in section list of TDS rpu of a company assessee. Only 94IB showing. What should be done.

Respected Colleagues,
In the books of client, business started in dec 2024 and office rent 78000/- per month till March total rent Rs 312000/- , No turnover in the business in FY 2024-25, So now we want to file Tax audit report u/s 44AB(e) to carry forward our business expenses to next year,
Now my ques is, all the rents from dec to march 2025 paid after march 2025 and TDS not deducted on it, So in TAR when we disallow in clause 21, there is a column states ''DATE OF PAYMENT'' of rent, but there was no payment made in FY 2024-25, all the rents in payable position, So how we deal in this position

Please advice