Ashwin Tannapro badge
This Query has 1 replies

This Query has 1 replies

22 July 2026 at 12:41

ASMT-10 received from A O

A O says more than 20 clients have not paid taxes through return in 3B,on searching with portal all have filed R1 and 3B further clients also confirmed they have files all returns on due dates and all the clients are big suppliers and doing transaction them with many years.How to reply to A O?


Arun Jyothy.K
This Query has 1 replies

This Query has 1 replies

22 July 2026 at 10:05

Grand in aid

I am auditing the financial statements of Medical Services, which engages in the procurement of medicine and surgical equipment for which the company receives a grant from the government. These medicines are transferred to the respective Government hospitals. The entry was passed; however, is not in compliance with AS 12. The grant-in-aid received is designated as a revenue grant, which includes the service charges for the company; however, it is not treated as a revenue item; rather, it is shown as a liability. However, when they transfer the goods to the government, they consider it a sale. The entry passed is as follows
Grant-in-aid liability account Dr
To Grant-in-aid income
To Service charges (plus GST payable on service charges)
Upon discussion with the organisation, they stated that they have a GST registration and, therefore, once purchased, the sale entry becomes indispensable. The sale is at cost price; therefore, GST liability does not arise.


SHAHNH
This Query has 2 replies

This Query has 2 replies

22 July 2026 at 02:40

Type of Capital Gain

Purchased shares on 5 August 2024 and sold it on 4 August 2025.
Which type of capital gains will it qualify for.
The dates are of actual contract note.
Also found discrepancies in AIS for shares sold within 10 months still it reflects as long-term in AIS. Many costs are shown as nil eventhough purchased 2 years ago. Is their Data in AIS not updated. Is it experienced by everyone.

Thanks in advance


Pragna Marfatia
This Query has 1 replies

This Query has 1 replies

My GSTR3B system generated shows The following in the ITC Tile
IGST -180 (because someone wrongly raised the invoice and also put the credit note)
SGST - 512
CGST - 512
However when I click on Make Payment, it shows 180 as a liability to me.
I have raised complain n GST Portal, but there is no reply. Tomorrow is last date of GSTR3B filing.
Can anyone guide me.


Viral
This Query has 1 replies

This Query has 1 replies

21 July 2026 at 12:14

GST ON TRAVELLING BILLS

Dear Sir,

Pls advice for our Company received service from Travelling Agent for Ticket Bookings i.e. AIR TICKET/DOMESTIC TICKET & GIVE US Reimbursement BILL TO US Without Tax.
Its attract GST ON RCM to us ?


Kaushik Roy
This Query has 2 replies

This Query has 2 replies

The person is a salaried individual over 60 year with income from other sources. For FY 2025-26 only he has F & O Profit/ turnover of Rs. 78,000.00. Which schedule in ITR 3, he should report it -Trading or p/l account & BP?Required to fill BS? Total income apart from F&O is 65 lakhs in FY 2025-26. Is schedule AL mandatory? Mandatory to maintain books & account?


Basant Gupta
This Query has 1 replies

This Query has 1 replies

Please provide me average cost of high quality diamonds in 2001


Sayantan Chakraborty
This Query has 1 replies

This Query has 1 replies

20 July 2026 at 20:31

TAX AUDIT QUESTION

SCENARIO 1 : If a partnership firm turnover 70 lakh and profit before partner remuneration is 5 lakh also 5 lakh paid to partner as remuneration tax audit applicable?

SCENARION 2 : If a partnership firm turnover 70 lakh and profit before partner remuneration is 5 lakh also 4 lakh paid to partner as remuneration tax audit applicable?

INFORMATION : FIRM IS NOT OPTING (44AD) AND MAINATAIN REGULAR BOOKS OF ACCOUNTS


Govind Prajapati
This Query has 1 replies

This Query has 1 replies

HOW TO VALUE PRIVATE LIMITED COMPANY SHARES


Priyanka Roy
This Query has 1 replies

This Query has 1 replies

20 July 2026 at 12:46

LIABILITY ADJUSTMENT

IN GSTR 3B CGST & SGST LIABILITY IS NEGATIVE BECAUSE OF EXCESS CREDIT NOTE. CAN WE ADJUST THIS EXCESS AMOUNT FROM IGST LIABILITY. AS WE EXPECTED THERE IS NO SALE IN NEXT MONTH ALSO SO WHAT WE DO THIS NEGATIVE LIABILITY.






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