Sir.
We have an export transaction during Nov 23. We try to file Gstr 1 this transaction in export invoice with payment of tax.
While filling Gsrt1 follows email received.
" invoice not transmitted to Ice gate because of negative ledger balance ".
What next step taken .
Please advise.
Binu

Surplus income of Education Institution is claimed exemption u/s 10(23C)(iiiad) along with DEO’s proceedings. Whereas a notice was issued u/s 143(1)(a)(ii) and stated as follows
“Income due to disallowance of exemption under clauses of section 10 entered at Sl. No. 1(e) of Schedule OS is less than the difference between the "Gross receipts" in Sl. No. 3 of Schedule IE-4 and exemption claimed in Part B2 of Part B TI. Hence, the amount mentioned at Sl. No. 1(e). 'Income due to disallowance of exemption under clauses of Section 10' in Schedule OS is recomputed accordingly”
In reply to the above S.No.1(e) of schedule OS is filled with the amount of net receipts which claimed as exemption and filed revised return. Whereas, it shows error that schedule OS is not applicable in the case of exemption claimed u/s 10(23C)(iiiad). Please let us know how to resolve this issue.

Loss On sale of Fixed Assets,
Loss on sale of investment
Loss on Foreign Currency Transaction
Loss on Intraday sale of shares
Bad Debts
Bank Charges


Please reply

Respected CA R SEETHARAMAN Sir,

Please Let me advice, If GSTR9 Not filed F.Y 2021.22 till dated, T/O 4.53. Cr. Nil tax rated,

Kindly advice me. What to do.

We filed returns correctly for the A.Y.2023-2024. But, we got below mentioned error for every Educational Society / Trust claimed exemption u/s 10(23C)(iiiad) for the A.Y.2023-2024. Please suggest us.

Schedule:
Part B2 (Part B TI) & Schedule IE-4 & Schedule OS

Error Description;
Income due to disallowance of exemption under clauses of section 10 entered at Sl. No. 1(e) of Schedule OS is less than the difference between the "Gross receipts" in Sl. No. 3 of Schedule IE-4 and exemption claimed in Part B2 of Part B TI. Hence, the amount mentioned at Sl. No. 1(e). 'Income due to disallowance of exemption under clauses of Section 10' in Schedule OS is recomputed accordingly.

Hi there,

A caterer/restaurant has charged 18% GST on Liquor License fees? Is it correct? Is GST applicable on this? Also, should we deduct TDS on this service and if we do, what percentage and in what section it will be done?

Can someone answer this quickly, its a little urgent.

Thanks in advance.


Gaurav

Sir.
1.Can get Lut for export of service.
2. Company plan to take LUT now. Foreign inwards remittance get before Lut. In this circumstances can update gstr 1 this transaction as " export with out payment" in table 6 in Gst 1.
Please advise.
Binu

Hello Sir,

I am two flats, both are rented out. For both properties total home loan interest paid to near to 9 Lakh. Can i claim tax benefit on entire 9 Lakh. Which ITR form i need fill.

sir,
If a business person accounting records maintained used for tally accounting software some months closing cash balance negative showing.
Query:
Cash balance negative amount undisclosed income treated in it act.

Dear Sir,

Is NRE account required to be reflected in Income Tax Return in India? This is in view of the fact that Assessee is filing the return in the country of residence abroad and also in India for income arising in India.

Kindly Advise!

Thanks & Regards