Sir,
A person accounting records maintained for hospital.advance fees collections from patients rs:10 lacs show in books.
Question:
Advance fees collections received from patients accepted in it act and how the accounting entry passed in books.

Person was using od limit/margin facility given by his stock broker as per terms decided verbally. On using this facility, person was charged interest as agreed. The issue is GST was charged on this interest amount citing this as interest on delayed payment. This was charged during 2017-18. After this year, stock broker was charging interest, but stopped charging GST on this interest on its own. My queries are-
1. Are private limited companies/stock broker directly registered with stock exchange allowed to charge GST on the interest taken wrt margin facility ?
2. Can we fight now with stock broker to recover GST charged on any legal platform, if its wrongly charged ?

Dear Sir,

My individual income tax return is filed under Section 44AD under Presumptive Taxation from past 5 years. I am into Contract business and my tds gets deducted under Section 194C.

The total turnover of my business is coming to Rs. 9 lacs as per Form 26AS and after booking of business expenses the profit is coming to Rs. 6 lacs.

My query is since my return is filed under Section 44AD can I show profit at 8% of the turnover which comes to Rs. 72,000 instead of showing higher profit.

Please help me in this matter.

Regards,
Divyesh Jain

Dear Sir/Madam,
As a normal tax payer opted monthly return. In first filing of GSTR-3B, the GSTR-2B not generated till date. (15.01.2022) for the month of December-2021. There is no any purchase or sales in the month of Dec-21. (Very first return with nil return). Please advise to filing the GSTR-3B. May I file the GSTR3B without generation of GSTR-2B?
Please Advice.
Ravichandran

AY : 2020-21
An assessee had filed ITR with retirement benefits. The gratuity was wrongly shown as 32L in the ITR whereas the correct amount of gratuity was less than 20L and balance amount was commuted pension amount.

CPC- ITD had sent a communication regarding the proposed adjustment of taxing the extra amount of 12L but the assessee did not respond in due time. CPC-ITD has made the assessment with addition of 12L in total income and calculating the tax payable thereon.

How should assessee proceed in this case?
File a rectification return ? If yes then, how to file rectification return, as the rectification return filing facility is still not activated on tax portal.

If no, then please suggest how to move forward.

Turnover of Rs 10 lakhs pertaining to FY 2020-21 was omitted to be reported in gstr1 and 3b for FY 2020-21. It was wrongly shown as sales in May 2021 and the output tax was paid in May 2021. How to rectify it. Please help. I think GSTR9 can be filed now . But whether there will be any tax liability that the assesee has to pay. Whether the wrongly disclosed turnover in May 2021 can be reversed and the tax paid in May 2021 can be used to set off the GSTR9 liability.

Hello,

We didn't realize that we need to file monthly GSTR-1 returns and filed Quarterly returns. For Eg. didn't file JAN and FEB GSTR-1 but included JAN to MAR invoices in MARCH GSTR1 as we use to do in old regime so now the JAN and FEB GSTR-1 are showing pending. How to fix this? 3B was filed monthly and correctly for all months.

I had filled form 112 for my bcom hons. my bcom is complete. but now i want to refill form 112 for mcom. How can I do it?

Hi All,
Could any one suggest under which section public relation service Company TDS shall be deducted if payment is made to such PR company.
Thanks jn advance

Our organization is a Collection & Recovery agency working with banks. Bank pays GST on RCM basis. so I have no output GST liability. But I receive services with GST i.e. Telephone bill , Computer etc. May I get refund of ITC or not ?