Good Afternoon Experts,

we purchased some material from supplier but due to improper specifications, we returned the material by issuing debit note. now we receive credit note from the supplier. now please tell who will show entry while filing gstr-1.

Is there any need to show documents issued (debit note no) by us in gstr-1 ( Sr no 13).

please advise

Sir I have started catering service by taking gst registration and I kept name ootada mane .now can I start hotel with same gst registration number with name sai veg corner . Both place of business are in same district.can i run both business with same registration and with different names.

For Income from salary and Commssion recd.from mutual fund AMC which ITR to be filled? ITR3 or ITR4? Is it mandatory to prepare balance sheet and P&L and what is the code of mutual fund commission income? As the mutual fund sub broker is freelancing services and have no proper office so how to claim exps. made regarding the business as no bills were saved. How to prepare balance sheet for the same and some payments are made online for such exps. but bills are not maintained, can it be claimed? and tuition fee of dependent son can be claimed in 80C? Please reply its urgent.

While Filling GSTR 3B, the turnover where 100% RCM is payable by recipient of service (example transportation of Goods by Road having 5%, or manpower services having 18% gst rate) are filled in Table 3.1 (a) Outward taxable supplies (other than zero rated, nil rated and exempted). In corresponding tax liability column, actual tax liability of other taxable supply i.e. Other than RCM is filled.

While filling GSTR 1, In table 4A, All taxable turnover with tax liability is reflected in proper tax rate column. In table 4B, i.e. supply attracting tax on RCM, other GSTIN, Invoice no., Invoice date, etc are filled accordingly with selecting the check box of “Supply attract Reverse Charge”. Now the question arises that the Invoice amount should be filled in appropriate tax rate column (5% or 18%) by reverse working or Entire turnover be filled in 0% tax rate column since tax has been paid by the recipient of services.
Under this head, if we select 5% or 18% rate, tax liability figure of GSTR 1 and GSTR 3B will mismatch.
Thus, Kindly confirm whether filling the amount of RCM turnover in 0% Tax rate column is in order or not? The question arises since said turnover is falling under tax rate of 5 or 18% and not in 0%. Kindly throw the light with practical solution, if answer varies from selection of 0%.

Sir,

I sold property over Rs. 50 lacs and buyer paid agreed sale amount after depositing 1% tds on form 26QB and provided me form 16 B too.. Please confirm if i purchase property (new residential house) within 6 months of sale of this first property, then what is procedure to claim refund on tds paid on first house.

Sirs, My wife who has no independent source of income and is a homemaker was allotted a plot of land in a Cooperative Hsg. Society. With her savings and help from me, her parents etc. a house has been constructed on the plot. No loan was availed.She is the owner as per the records and as per the advice of knowledgeable well-wishers, I have not taken this house into account in my ITRs which I have filed regularly. As my wife has no income, she has not filed any ITR till now though she has a PAN Card. Now she wishes to file an ITR for refund of about Rs 1800.00 deducted from her interest on Fixed Deposit as she had forgotten to submit Form 15G/H. Question is whether house held by her in her name is to be considered self-occupied though she is staying with me in a different house OR whether her self-owned house is to be shown as Let out Property. Her self-owned house has not actually been let-out but if required will have to be shown as deemed to have been let-out with reasonable rent. In any case her tax liability will be NIl.

IF I OWNED ONE HOUSE PROPERTY THEN DEDUCTION ?
AND I WILL BUY ANOTHER H.P THEN DEDUCTION?
*BOTH ARE ON LOAN
CAN I CLAIM 80C ON BOTH PRINCIPLE AMT SIMULTANEOUSLY?

One of my friend has received Rs.12,00,000/- as dividend from Mutual fund and another Rs.12,00,000/- dividend from Equity shares. What is the maximum deduction we can claim u/s 10 of the I.T.Act. Kindly clarify dividend received from Mutual funds are fully exempted?

Company having a project management consultant (PMC )for which company paying 1. Fixed remuneration for which PMC charging GST and company treating this as ITC.
Secondly, PMC spend some amount like 100 plus GST 18 for which PMC supplier issued GST Bill in the name of PMC. As per agreement terms PMC eligible for reimbursement of this expenditure.Accordingly PMC forwarding said bill along with request to Company for reimbursement of Rs.118/-
Here question is Company liable to reimburse Rs. 100 or 118 ?
If company reimburse ra 100 without considering GST since GST Bill issued by third party in the name of PMC is is wrong or correct

Hello,


We builder has constructed a building and it is 85% complete but we have not received completion certificate. We are selling a shop at the ground floor of that building, the agreement of shop value i.e 90 lacs is prepared and it is registered but the invoice for the same is not yet issued. We have received a advance from the buyer of Rs 5lacs.

Query: Whether on today's date when we have received only 5 lacs from the buyer, we have to pay GST on 5 lacs i.e on advance OR on 90lacs?