Property is a vacant plot of land leased out by GIDC on a 99 years leasehold term to the Vendor. The vendor has not utilised the plot, and wants to transfer his rights to a purchaser intending to set up a factory.

This is a resale - transaction for transfer of Leasehold rights of the Plot at GIDC; GIDC charges (a)Transfer fees+18% GST and (b) Non-Utlisation Penalty+18% GST, to the Vendor (reimbursed by Purchaser to Vendor). Can the Purchaser avail of ITC for the GST paid on both the charges ?

Request an URGENT response from a GST expert in this forum.

Regards,
Ashok Pachisia
9867297925

Dear All of Valuable Expert,
I want to ask you something yesterday i filled my gst return for the month of October, 2023 but my ca doing the mistake in GSTR-1 return actually, i sell all goods to b2c whose taxable amount is 899000 and whose cgst 80000/- & sgst 80000/- and due to some reason all goods returned to me by the b2c customer whose taxable amount is 899000/- and CGST 80000 AND SGST 80000/-
however, when my ca filled the gstr-1 return then they did not fill the detail of credit not figure. now my ca filling gstr3b then auto populated data will be redirected from gstr-1 into gstr3b and my liability is around 80000 each in respectively under head of cgst & sgst.
please suggest me now what have the option of me if i do not want to pay the liability ?
please suggest me can i mention the credit not amount in gstr3b after that i file the return?

Section 80D Medical Insurance
Query: If asessees was married woman then who is parents defination include?
a) Asessees mother father or
b) Asessees mother in law and father in law or
c) Both a & b
d) Non of the above

Where an assessee uses a property for residence cum office purposes, should the annual value of property used in business be added to PGBP?

The ICAI material mentions that annual value of the following properties is added to PGBP:
1) Portions of property occupied by assessee for business or profession carried on by him.

Is the annual value of this property ( calculated in the same way as let out) called as notional rent? Is it to be added to PGBP? Considering the fact that we have not actually received anything, how can we add annual value ? Also, as per Sec 22 only profits from using the property is added to PGBP.

This particular line from the material is confusing me . Kindly help me interpret the meaning of this.

Thank you.

A company incorporated as on 23-03-2021 and didn't commenced it's business within time limit of 180 days now at present companies status is as strikeoff but but know directors want to make is a active company,
It is possible to do so if yes then what are the possible

In paying 26qb what shld be my "stamp duty value of the property" in lumsup method of filing.

bazar mulya 5cr
agreement value 5.25cr on which 5% percent stamp duty paid while registration.

plz guide 🙏

Hi,

can we pay the half wages to labour at the time of payroll period and pay the rest amount at the time of bonus payment. ??
and it's mention in which section or gov. notification ??

I have gst liablity in month of september but i have itc in the month of october . How can i adjust my liability and what will be consequences

Dear Sir / Madam,

Kindly advise on depreciation rate on Soun box machine connected with QR code.

Can we treated it as Computer and apply 40% Rate?

sir,
A RTP(regular dealer) notice from gst department detailes mentioned below.
As per Section 17(5) read with Rule 42 & 43 of GST Rules, 2017 the following ITC reversals to be
made mandatorily.
S.No. Description of items 2022-23 2023-24
1 Exempted turnover 17607482.79 40757611.29
2 Total turnover 17607482.79 40757611.29
IGST to be reversed 77283
2465
The ITC which is not eligible for reclaim in future periods) shall mandatorily needs to be reversed in
table 4 (B)(1) of GSTR 3B return and the taxpayer is hereby requested to verify the above transactions once
again and reverse the ITC as per the provisions of the CGST/SGST Act as under:
Relevant Statutory Provisions of the GST Act and Rules, 2017:
1. Section 17(5): Blocked credits
2. Rule 38: Claim of credit by a banking company or a financial institution
3. Rule 42: Manner of determination of input tax credit in respect of inputs or input services and
reversal thereof
4. Rule 43: Manner of determination of input tax credit in respect of capital goods and reversal
thereof in certain cases.
Doubt:
Dealer notice received after procedure.