1st query:

Car battery purchased for personal use. Now I want to reverse this itc. Which option shall I use to reverse:

1. Showing itc reversal u/s 42 43 or 17(5) in Table 4B(1)
2. Other in Table 4B(2)
3. Ineligible itc u/s 16(4) & ITC restricted due to POS rules in table 4D(2)

Query 2

In q1"23 filled one gst sales bill in gstr1 and paid in cash in 3b. Till now no further sales bill. Now credit note for that sales bill is created and filed. As there is no other sales bill hence in gstr 1 it is showing as negatinve invoice value. And also no payment in gstr3b. But what to do to get return that gst amount paid in cash to back in cash ledger.

Dear Sir,

We are into transportation following RCM basis if GST no. wrongly mentioned in last FY 2022-2023 GSTR1 for the month of Dec-2022 can we rectify the same.

Kindly confirm
Thanks & Regards

ABC Ltd Company hired us for transportation of goods from place A to place B. we don’t have any transport vehicle so we hired transport vehicle with driver from third party (all are unregistered persons under GST). Further provided that we paid GST of Transportation service provide to ABC ltd under forward charge.

Query-
1. Weather we are liable to pay GST under RCM for third party transactions made in the given case?
2. If same scenario is made for construction contract (work contract) and we hiring third party service to construction of building can we liable for pay GST under RCM?
3. One of my friend said that the RCM on construction contract in not paid but RCM of hiring of vehicle in liable to paid. Why should RCM in liable for Hiring of Vehicle but not on work contract service for construction. So, therefore clarify the same?

7/12 in english formet

My annual salary is 5 lakhs yet my employer deducts TDS since my salary goes beyond 3 lakhs. Can anyone guide on this. As per my knowledge if i am opting for new regime i shall not liable for any tax.
2nd what are the tax slabs for new regime? since Income Tax website shows as below for new regime as well.
Up to ₹ 2,50,000- nil
2,50,001 - ₹ 5,00,000- 5%
5,00,001 - ₹ 7,50,000- 10%
7,50,001 - ₹ 10,00,000- 15% and so on.

Dear Experts,
1 A company is availing the valuation services for its business premises from a registered Chartered Engineer
2 What would be the GST implications on its service
3 The service provider does not registered under GST

Dear Sir,
We are corporate company, security service provider is individual with GST register person but as per gst law we are taking monthly bill without gst from them due to service provider is individual, as well as we are paying RCM to GST authority and taking input credit on this bills.
Later on service provider cancelled their gst registration due to this reason GST authority will disallow the our GST input credit on security charges. please clarify this issue

There is Agreement between the company and sellers (Directors) of land on 1.7.2023, for the purchase of leasehold property in the name of the Company.
Now Company wants to issue shares to the directors for the purchase of leasehold property in the month of Jan 2024.
When EGM (in July or before allotment of shares) to be called for allotment of shares.
Similarly, for loans taken from directors, shares to be issued, when EGM to be called?

Dear Sir

Ours is a partnership firm liable to audit u/s44AB. We have filed my ITR for the AY 2023-24 within the stipulated time, ie before 31st Oct 2023. We received defective notice on 12.12.2023 against which we had filed a corrected return on 27.12.2023 within in 15 days specified. On the same date the filed return also declared as defective and issued a fresh letter against the same. The due date for the new notice is 11.01.2024 but unfortunatly we had failed to submit explanations for the same. Now in the portal the submit button was disabled and we are unable to submit any response in this connection. Kindly advise us is there any solution available for the give the explanations in this regard. We had filed the corrected ITR and no changes proposed to be included therein. The reason for defective is some reconcilation between 26AS and ITR Income only.

Thanking You

CA MANU K

Dear Sir/madam,

Could you please advise on below query.
I have received critical illness insurance payout from insurance company.
Please advise whether I can transfer amount to wife bank account to make a fixed deposit. The reason I am asking is that interest on FD will get included in my taxable income if I do fixed deposit.

Thank you

Gajanan