Dear Experts,

Is GST ITC available on Assets Insurance exps ?

Sir gstr 4 not filed by a individual from 2022-23; 2023-24 now 2024-25 and turnover respectively years are 18.23 lac; 18.32 lac AND current 17.66 lac
my query is should filed all pending gstr 4 ? if yes what will be penality?
OR just file gstr 4 for 2024-25 only?
please advise
Regards
Vikas

Sir,

In books of Account we have Fixed Assets balance Rs.144000/- ( Air Conditioner 34500/- Car 85600/- and Machinery Rs.23900/-) We have Sale Car Rs.94400/- and pass the entry in books of Acccount . Cr. Car Rs.85600/-Cr. Profit from Fixed Assets Rs.8800/- Dr. bank Account. Rs 94400/-

Please suggest about In ITR-3 Deprecation Seclude i have to Reduce Value of Rs.85600/- Correct or Wrong. If i reduce Rs.94400/- it will also reduce Ac and Machinery Cost.
so please suggest 85600/- OR 94400/-

Is compensation received from electricity transmission company for installation of High tension lines in an agriculture land taxable? According to me it should be a capital receipt and not taxable. Your views with any specific judgement will be highly appreciated.

Had two doubts regarding RCM and TDS

1. Our office rent is ₹65,000 per month, and the landlord is not registered under GST since it's a residential property. Will there be any TDS implications in this case? Also do we need to follow RCM mechanism here? If yes how RCM invoices are usually created?
2. Any unregistered vendor payments above 2 lakhs. Do we need to file under RCM? And TDS to be deducted here?

How to make Debtors and Creditors Reco.
What to add In Debtors and Less Creditors
What to add in Creditors and Less Creditors
If Transaction involves
Sale - Purchase
Payment -Received
Discount Given- Discount Received
TDS paid - TDS Receivable
Round off.

Dear Experts,
Tds deposit date is 7th of Next Month, In which section or rule of Income tax, it has reference......... let me know the reference of relevant section or rule.

Thanks
ASAP

When apply for GST Registration of Hotel Business, The proper officer ask a query to Upload Hotel Tariff details, Applicant PAN & Aadhar, GPS photo of PPOB. and also ask to submit PAN & Aadhar in person. Is it mandatory to submit these details at the time of apply for GST ?

Sir,
during the Fy 2023-24 we have made bank payment entry for Rs. 200/- Rates & Taxes for some expense and balance sheet and return also already filed, now during the FY 2024-25 we have found that such payment is not made during the year 2023-24. its result our bank transaction not tallied .

Now we want rectify the above mistake shall we pass the receipt entry during the fy 2024-25 or other method

Please solve the above query.

Someone please suggest
Sir,
During previous years, as per google, if someone had taken loan from a bank against property, he was allowed a deduction of 1.50 lakh per year which includes principal +interest+ registration and stamp duty paid. Is it correct? If not, then what was the deductions allowed.
Thanks