1) Pvt Ltd Company annual turnover for the F.Y. 2019-20 IS 1.51 Crores (I.E. Sale -1.20 crores & labour Charge 0.31 Crores) can we take QUARTERLY GSTR1 RETURN facility for the running F.Y 20-21 ......
2) For GSTR3B Can We Use 100 % Input Credit from April,20 to Aug,20 or follow IN PREVOIUS rule restricted to 10% ITC of the eligible credit available in respect of invoices
URGENT BASIS...….
1) Quarterly returns limit is 1.5 crore, so monthly returns to be filed.
2) Notif. 30/2020-CT relaxed matching GSTR 2A and ITC as per books for the period Feb - Aug 2020, with the condition that it is to be performed on a cumulative basis in Sep 2020 GSTR 3B returns. So for Apr-Aug 2020 can claim ITC 100% but ensure reconciliation with GSTR 2A done in Sep 2020.
Naveen Fintech Pvt Ltd
Kolkata
CA Inter
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Gupta Sachdeva & Co. Chartered Accountants
New Delhi
CA Final
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CAclubindia
