Respected Experts

Kindly let me know the implication for not filling of ITC 04 as we do not know for the same.

If now I start to file the same for last 3 to 4 year than any panelty is there ?

Kindly advise

Which is the best book to enhance knowledge in direct tax, indirect tax, company law with different case studies?

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Dear Experts,

For our Gratuity the plan assets is LIC. So we make contributions every year and the amount is reduced from our Gratuity provision in Books. Now, One employee transferred from Group company to our company. So the gratuity of his is transferred to our LIC Account. Now, the LIC Fund statement shows the premium received is Rs 39 lacs paid by us from our bank account. And the gratuity of the employee Rs 2 lacs is also shown as premium received in LIC fund statement. The issue is for the 39 lacs paid, we can pass entry as

Gratuity provision A/c Dr Rs 39 lacs
To Bank Rs 39 lacs

But for the employee's gratuity amount Rs 2 lacs what entry should I pass in books. The Actuarial Valuation report shows that the total employer contribution is Rs 41 Lacs (Rs 39+Rs 2 lacs).

I will debit Gratuity provision with Rs 2 lacs but what ledger should corresponding credit carry. Our company follows Accounting Standards.

Sir,

I am purchasing from a supplier applicable for TDS under section 194Q on interstate purchases. I have got an invoice dated 31-05-2025 on 5th June 2025. The said invoice was booked and TDS collection was accounted during the month of June 2025 and paying without deduction of TDS. Whether this treatment was correct or may I liable to interest on the said transactions.

We have filed GSTR-1 for Jun-22 on time, in this return B2C outword supply of Nov-21 amended in Table-10, by mistake taxable value filled 1 digit excess (i.e. 10,000 instead of 1000) now 9000 difference shown between GSTR-1 & GSTR-3B.

No GSTR-9 filed,

what should I do?

I am under the impression only supply of goods need to be entered in gstr4 purchase and expenses like rent, bank charges can be avoided while filing Gstr4. Please correct me if I am wrong.

Dear Sir,

If we have an Indian company, and not paid any Equalisation levy tax during the year FY 2024-25

it is mandatory to file NIL Return of Equalization Levy Form No. 1.

If yes then

Any option available on portal for file NIL return.

Please suggest.

Dear Sirs : Kindly guide (1) What is amount limit for amount to be filed under RCM ? (2) Rent paid by a Registered dealer to unregistered landlord for hiring commercial warehouse for period 24-25 totalling to Rs.3,20,000. Income tax TDS was deducted and deposited. But this entire amount not shown in any GSTR3B for period 01-04-2024 to 31-03-2025. Now my question is it is possible to do the entey/rectification in GST portal and under which coloumn of GSTR. A little detail for procedure will be very helpful. Kind Regards !

We issued service invoice (June-24) to SEZ unit, now customer is not accepting this invoices. Now we have to cancel this invoices through issuing credit notes ? In this scenario what will be the question arises in GST audit or scrutiny because cancellation transactions are more than expected. May department ask to pay IGST or some penalties in future while doing audit ???

Please elaborate.

Thanks in advance.