Hi
What is the correct method to Claim ITC in GSTR3b?

Method 1 Method 2
IGST IGST
GSTR2B 100 100
GSTR3B -
4(A) All other ITC 80 100
B) Reversed 20 40
Reversed 17(5) 10 10
Others 5 30
NET ITC Available 60 60

ITC Claimed - 60 Invoices available
Reversed - others - Invoices not available, will be claimed in the subsequent month

Hello Sir/Madam,
One of my client is rice traders who engaging in domestic sale of exempted & taxable goods and exporting rice (exempted goods) also. Whether he can apply for ITC GST Refund through RFD-01 for the expenses which incurred for make the export complete. Please suggest..

Sir,
A registered composition scheme dealer rent paid to landlord (un registered) rs:5000/- per month for commercial property
Question:
Composition dealer RCM applicable for rent paid to un registered landlord latest amendment
4203

I had purchased a flat in aug 2023 against sale of shares and claimed sec 54 f exemption. Now I purchased another flat in nov. 2024 due to which the earlier 54 f exemption claimed in fy 23- 24 will be revoked and added to this year ie fy 24-25 income.

My query is - how much tax I will have to pay on this revoked 54 f capital gains .
Since I am a senior citizen with no income from profession or business, am I right in presuming that there will be no advance tax

Regards

My Client purchase agri land on April 2022 and Sold on May 2023 within 13 months. can he get exemption u/s. 54B for Capital Gain.

Hi
1) I have claimed excess ITC in fy2023-24 how do I reverse it? DRC 03?
2) I have an outstanding liability for FY 2023-24, can I adjust it through the ECL balance? how to do?
3) Do i have to add this outstanding liability in GSTR9 in Table 9 - Tax paid?


Thank you

During the FY 23-24 the party has availed ITC in GSTR 3B which were actually needed to be reversed as per rule 42. The FY is already over, only 9&9c is pending. My question is:

1- Can i reverse this ineligible ITC taken in the table 7 of GSTR 9
2- If not, what we can do
3- if yes, will I be required to pay the reversed ITC in cash or can reverse it from the credit ledger as there is enough balance in credit ledger. Also is interest applicable on the same?

I AM GETTING ERROR- "INVALID PAN. PAN format should be First 5 alphabets, then 4 digits, then ALPHABET WHILE GENERATING .XML FILE FOR ITR OF AY 2018-19. HOW TO SOLVE THIS PLEASE ADVISE.

THANKS,

Open plot is purchased in the year 1986 for Rs. 20,000/- and house is constructed on it spending Rs. 20.00 lakh. Thus total acquisition cost is Rs. 20.20 lakh. Now this property is to be sold for Rs. 201.00 lakh. Whether it will be beneficial to opt for indexation benefit or to opt without indexation benefit. If Indexation benefit is opted how to arrive at cost after indexation. Present index is 363 considering the base year as 2001, but the property is purchased prior to 2001 i.e. in the year 1986

Hi
Direct Income 100 + Indirect Income (non GST - Interest on FD etc.) 20 total income is 120
while filing GSTR 9 C - in Pt II(5) A what should be the Turnover - 100 or 120?
as per my audited Financial Statement, my total turnover is 120 whereas as per GST Pt II (5) Q is 100 .
where to show the difference amount 20

Is it necessary to put 120 in GSTR9C Pt II (5)A or can I put 100 bcoz 100 is only my taxable outward supply as per GSTR1

Thank you for your quick response