fy2223 dealer filing monthly, availaed big amount in 3b by mistake and reversed after 10 months.
for these 10 months, if utilized, he has to pay interest @24%.p.a.
but how to calculate utilized amount?
my view --> as i dont know how to calculate utilized amount monthly, i did overall.
no op. baalance in electronic credit or cash ledger.
utilized amount = gst1 output tax of full year minus (2b of full year+ cash paid in full year) = utilized @ 24% p.a. (roughly).

broadly, i am right ?

Dear Experts

Supplier filed GSTR-1 for March-26 on 08.04.2026, but a bill for the month of March-26 is not showing in GSTR-2B but showing in GSTR-2A.

Kindly advice so may be able to ITC in March-26 3B

Thanks

Yes, mandatory VAT registration applies once your taxable supplies and imports exceed AED 375,000 over the previous twelve months or are expected to cross that threshold in the next thirty days. Voluntary registration remains available for businesses surpassing AED 187,500. Missing the mandatory registration deadline triggers immediate penalties that compound monthly until authorities receive a compliant application. Getting this assessment right from the start protects your business from unnecessary financial exposure. https://www.launchcompany.ae/corporate-tax-and-vat-registration

assessee is practising ca having receipts of 3 crores for fy25-26.
he is of view , as i am following cash system , no need to follow icds and hence, no need to follow merchantile system.
my question -- in 3cd, is cash system allowed?
assessee's view --> so even in 3cd, no need to follow merchantile system, as he is following cash system .

my view-->cash system is not allowed in 3cd As CBDT has clarified Circular No. 10/2017, dated 23-3-2017, that the general provisions of ICDS shall apply to all persons , so , merchantile is compulsory for 3cd right. am i right? or is cash system in 3cd allowed?

An MF Distributor earns income by way of brokerage. Can he choose to compute his income as per presumptive income scheme? If not, then under which section is a business earning from brokerage or commission not made eligible to declare income under presumptive income scheme? As per section 58 of 2025ACT and Table given there under column B , it states, "Any business other than the business specified against serial number 2". It states ANY BUSINESS" which will cover all business other than specified in serial 2. So business earning brokerage or commission gets covered.
Please advise if there is any other overriding clause excluding business earning income by way of brokerage from presumptive income scheme.
Thank you

we filed society return for the AY 2025-2026 and claimed exemption u/s 11. The society have FCRA Donations. we filed audit report form 10BB instead of form 10B. we got letter from Income Tax Department u/s 143(1)(a). It says that you are not filed audit report form 10B. How to rectify this and what to do. Shall we filed form 10B Original or Revised and audit report date what should we write

FOR 51 LAKHS SALES TURNOVER FOR ETF TRADING, AS MENTIONED IN SUBJECT, TAKEN UNDER SEC44AD AT 6% PROFIT (TO SKIP BOOK KEEPING AND AUDIT ETC.) TRADING PROFIT AT 6% IS AROUND 3.06 LAKHS. SO INCLUDING THIS TOTAL INCOME STANDS AT RS.7 TO 8 LAKHS. AM I GOOD FOR ZERO TAX AS INCOME IS BELOW 12 LAKHS?
IN AIS STATEMENT RS.18+ LAKHS IS GIVEN AS SALES (IN PLACE OF 51L). CAN I USE THIS FIGURE FROM AIS? IS SEC 87 A REBATE APPLICABLE TO ME?

MY CLIENT IS RUNNING A STUDENT HOSTEL AND CHARGE FOR STAY ALON WITH FOOD HIS RECEIPTS ARE MORE THAN 1 CR PLEASE GUIDE US IS GST REGISTRATION IS MANDATORY AND THESE SERVICES ARE EXEMPT FROM GST

I have observed two contradictory opinions on eligibility to file Form 121 under new IT Act 2025.
1]Mr Ashok Kumar has written to a query that form 121 cannot be filed if the incomtax libility is NIL
2]Today Mr.Dhirajlal Rambhia has informed that to file form 121, tax liability should be zero.

Please clear the confusion if my observation is wrong

M.A.Rasheed

A Private Limited (Closely Held Company) took loan from XYZ bank. Loan is secured by mortgaged assets but even if Bank is demanding personal guarantee of Directors.

Directors and Shareholders are same.

Is personal guarantee of director is compulsory ????