Negative difference in Table 8 of GSTR 9: 1. Due to ITC taken, but necessary invoice was never uploaded by supplier (finally reversed within due time) and 2. Due to ITC taken for previous year, duly reflected with stipulated time and reflected in GSTR 9 of PY. Difference in table 9 of 9C: 1. Due to outward supply of previous year duly amended in GSTR1 and GSTR3B of July next year and 2. Due to ITC taken, but necessary invoice was never uploaded by supplier (finally reversed within due time) as above. How to resolve or show the same

BY: CA. SURAJ KUMAR CHOUDHARY

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In case of an assessee who is renting an immovable commercial property we show rent of property in gst 1 and gst 3 and pay gst on rent . But if in an year if that property is sold after receiving oc than gst is not applicable on it..will sale proceeds of property be shown in GSTR 9 as no supply turnover or is it not required to show sale proceeds of property in GSTR 9 as it is a capital gain

BY: NISHANT NARANG

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Whether land lease charges paid upfront for future period (say, for next 50 years) allowable under IT Act over the same period?

BY: balasubramanian

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A partnership firm floated with 3 partners out of which 2 partners are Overseas Citizen of India and both of them contributed 99% of capital and profit sharing also 99%. Please clarify whether OCI can float partnership firm and contribute 99% capital and what are the compliances to be made

BY: E VARALAKSHMI

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Queries related to Code of ethics 1.Is it mandatory to use common logo of CA. There are many firms which does not use common CA logo. However they write their firm name with some different symbol ( like Star or Box or upward arrow) or colour or design. Is this correct. 2. Can we use Common CA logo and Firm name with some different symbol ( like Star or Box or upward arrow) or colour or design. 3. Is there any restriction or Guidelines for writing name of firm. Whether related to style,design, colour, etc ? 4.Can write name of firm uniquely or some other colour background or some symbol/Designs etc. 5.Can we mention QR code on Signboard and Letterhead. ? 6.Can we display name of services in our office premises 7. On Linekdin , Can we prepare separate profile of Firm . Is there any guidelines for Firm Profile . Can we show Linkedin symbol in visiting card 8.Can we mention minimum recommended fees of ICAI on our website

BY: samirkumar gokulbhai kasvala

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For claiming deduction under section 80JJAA, whether contract labourers are to be considered. Due to contract workers, the head count at the end of the year increases compared with that at the beginning of the year.

BY: balasubramanian

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Considering the property is under construction and the title has not yet been registered in the taxpayer's name, should the advance payment be disclosed under the "Details of Immovable Property" section of Schedule FA?

BY: CA. KHURANA PANKAJ

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In faceless assessment of reopening case order u/s147 was passed but by mistake the credit is not given for Prepaid taxes and TDS so what is the remedy . As only filing of appeal is the only option ?

BY: CA. HEMANG KISHORBHAI AMBANI

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In this case 2020-21 notice is issued DRC-01 History - Sept-2020 to Mar-2021 return was filed on 10.01.2022 ( as number was cancelled and appeal was filed and then after restore all pending return were filed ) so all ITC claimed in this period is disallowed . The notice is issued before sec 16(6) is enacted. Here query is The appeal order was passed on 24.11.2021 with condition to file all pending returns within 5 days. But to file return GST portal need to give access technically restore of GST Number. So, Ghatak given restore effect on 05.01.2022 and we file all pending returns before 10.01.2022 So my question here is that genuinely 30 days as per sec 16(6) shall be counted from activation of GST number on portal . But we don't have any evidence ( GST REG 20,) which proves our genuineness. No restore order available online. So any solution to this query pls

BY: CA. HEMANG KISHORBHAI AMBANI

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IGST reversal due to CDNR was not effected in GSTR 3B as there was no IGST sale in the respective return, and GSTR 3B not consider it automatically in next month. Can manual reduction of liability be made in 3B

BY: CA. SURAJ KUMAR CHOUDHARY

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Goods have been sent to Canada by Speed post (Indiapost)Bill has been given to Post office What is the next requirement to be fulfilled

BY: Mahesh Kumar

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If we have to sed goods abroad to close relative Can it be sent without issuing bill In case we send it from a business Firm whether we have to issue invoice as well as pay IGST

BY: Mahesh Kumar

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AS PER NOTIFICATION NO 03/2018 DATED 25.01.2018 GST ON REVERSE CHARGE BASIS TO BE PAID BY "Any person registered under the Central Goods and Services Tax Act, 2017" FOR "Services supplied by the Central Government, State Government, Union territory or local authority by way of renting of immovable property to a person registered under the Central Goods and Services Tax Act, 2017" and As per section 24 (iii) of CGST Act "person who are required to pay tax under reverse charge" is compulsory liable for registration. My query is if a person having turnover less than 10 lakhs and paying rent for commercial property to Government whether required to pay tax under reverse charge. On other way whether he is required to registered compulsorily under GST act to pay GST on reverse charge basis.

BY: ABHISHEK MITTAL

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Whether the same partner can sign the financials of a listed entity for the sixth to seventh year in a row for a firm of statutory auditors ? As SQC 1 explains that signing partner can be engagement partner for seven years in a row of a listed entity? Is there any preventive clause anywhere in Companies Act,2013 to prevent a signing partner to sign the financials for sixth year in a row.As companies act says 50% of audit team should be rotated .But silent about the signing partner.

BY: DIXIT SHAILENDRA PREMSHANKAR

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Assessee has a refund of Rs.1.70 lakhs in original return for AY 2023-24. But it was never paid and demand was raised by intimation under 143(1a) for Rs.54 lakhs due to clerical error in capital gain reporting. Now there are other items left out and the assessee wants to file an updated reuturn. However systems takes Rs.1.70 as paid and tax is computed over and above that amount. Is there any solution?

BY: ALAMELU N N

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Whether MSME category of Chartered accountants gets any priority in audit alottments If not Whether any of the Central Council member has included this in their agenda while approaching for votes

BY: Mahesh Kumar

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I have converted a Proprietorship into LLP w.e.f. 08.04.2024 and all the assets and liabilities of the said proprietorship have been transferred into LLP. Thus, Sale from 01.04.2024 to 07.04.2024 are in the proprietorship firm and from 08.04.2024 onwards the sales and all the business transactions are appearing in the LLP. Now my questions are: 1. What will the tax treatment in the hands of the person whose business has been transferred into LLP ? 2. How will the ITR of that person be filed ? 3. What entries are required to be made in his ITR with respect to the transfer of business to LLP?

BY: Gaurav Kumar Baranwal

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As per revised applicability of peer review mandate (Phase II & III), Practice Units which propose to undertake the Statutory Audit of entities which have raised funds from public or banks or financial institutions of over Fifty Crores rupees during the period under review or of any body corporate including trusts which are covered under public interest entities are to be covered from 01.01.2025. How can we identify trusts which are covered under public interest entities ? Do all Public Charitable and/or Religious Trusts fall under the category of public interest entity ? Is there any threshold monetary limit for these trusts ?

BY: Nilanjan Kayal

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DEAR ALL, CAN ANYBODY TELL ME HOW AND WHEN CONDONATION OF DELAY IN FORM NO 35 IS TO BE SUBMITTED BEFORE CIT(APPEALS) ????

BY: SUDIP KUMAR MUKHOPADHYAY

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Can a firm with plumbing service of Rs 49 Lacs and Goods sale of 20 Lacs is required to get Tax Audit compulsorily If it opts for Presumptive taxation How much profit should be shown for plumber service

BY: Mahesh Kumar

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A firm providing plumber service Value around 50 Lacs and at the same time selling motors etc of 20 Lacs Whether Tax audit is necessary

BY: Mahesh Kumar

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A firm is in loss to the tune of Rs 50 Lacs A Tax Audit report is to be revised and a few Balance sheet figures are also to be amended Whether it can cause problem from Income Tax End

BY: Mahesh Kumar

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A restaurent has been opened (additional branch of existing franchisee) Expenses incurred on inaugration includes Hotel and travelling expenses of family members. Whether these can be amortised/capitalised

BY: Mahesh Kumar

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TAR has been filed without filling clause 18 (depreciation particulars) Can we revise TAR filling assets details but not claiming Depreciation in a Partnership firm

BY: Mahesh Kumar

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I want to add certain figure in GST sales in B2Cs (unregistered Sale) to already filed B2Cs figure in GSTR 1 but old figure is not visible in GSTR 1A Will this figure be added to already filed GSTR1

BY: Mahesh Kumar

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A manufacturing company producing taxable and exempt goods in Rajasthan and send some of exempt goods as sample @Rs.1/- per item excluding GST (whereas GST is Nil) to Delhi head office (Both have different GSTIN but related parties as PAN is Same) but the market price of such item is Rs.115/- per item. The main raw material also exempt received from other vendor but the other packing materials which is purchased by another division under same GSTIN and transferred to Manufacturing division through delivery challan, used in production of such exempt good is taxable under GST. How this would be treated as GST credit taken or reversal of ITC. can a organization sell Goods lesser than cost because it will create a gap between ITC availed and Output liability in case of taxable goods.

BY: UMESH SHARMA

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I am a practicing chartered accountant and an additional director in a private limited company duly complying to the norms prescribed by ICAI. The private limited company has borrowed a vehicle loan from a scheduled bank. The scheduled bank is creating a charge for the loan borrowed and is insisting that the concerned form for creating charge should be signed by affixing the practicing CA digital signature instead of the other directors of the company. Whether the same is permitted according to the ethics prescribed by ICAI and would it not amount to participating in the day to day activities of the company?

BY: PANI RAJ KATEPALLI

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Vide CIRCULAR NO.18/2017 [F.NO.385/01/2015-IT(B)] dated 29-05-2017, it is provided in para 4 of the Circular that accordingly, it has been decided that in case of below mentioned funds or authorities or Boards or bodies, by whatever name called, referred to in section 10 of the Income-tax Act, whose income is unconditionally exempt under that section and who are also statutorily not required to file return of income as per section 139 of the Income-tax Act, there would be no requirement for tax deduction at source, since their income is anyway exempt under the Income-tax Act. Question: However, a recognised provident Fund inadvertently filed its return of income which was processed by CPC and raised a tax demand. We have replied to the TRO that a recognised provident fund is not required to file income tax return hence the demand should be struck off. He replied that assessee fails to answer the question as to if the recognised trust is not required to file income tax return then why it was filed? And asking the demand to be paid. Please advise.

BY: Babulal Sharma

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Dear Sir, we was paid of payment for the bills of entry of As per our reassessment of bills of entry for the financial years 2019-2020 and 2020-2021, we have made payments for all outstanding bills, including interest and penalty. However, we have noticed that the reassessed bills of entry are not reflecting in the GSTR 2A. please provide suggestion for ITC take or Not

BY: SHAILESH JIVANBHAI SUTHAR

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Whether Clause 44 of Tax Audit report applies to Construction co only providing service activity also

BY: Mahesh Kumar

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A society (Registered under Societies registration Act) has obtained provisional registration under 12A/80G and Form 10AB is still pending to be filed. Audit Report For FY 23-24 has been issued. Is the provisionally registered society required to File Form 10B/10BB(Audit Report) for FY 23-24 since it has not obtained the final registration and approval under Section 12A/80G from IT dept? Gross Receipts of the Society for FY 23-24 is 58 Lacs approx ans whether tax audit is applicable to such society? Kindly guide in this matter with relevant information

BY: CA INDRANEEL BISWAS

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Subject: Assistance Required: COP Application Issue Due to Outdated Employment Records in ICAI Portal Dear Respected Seniors, I am writing on behalf of a fellow Chartered Accountant who recently transitioned from employment to practice. He is facing a significant issue while trying to apply for a full-time Certificate of Practice (COP) through the ICAI SSP portal. Background: My friend was previously employed with two organizations. The first employer had registered the employment with ICAI, but the termination of this employment was never updated in ICAI's records. The second employer, with whom he worked for four years, was not registered at all in the ICAI system. As a result, ICAI records still show him employed with the first employer, and the termination and subsequent employment details are missing. Current Situation: More than three years have passed since he left the first employer, and around six months have elapsed since we initiated efforts to resolve this issue. We have raised multiple tickets through the SSP portal, but unfortunately, we have not been able to rectify the employment details. We need to terminate the first employment, update the second, and then apply for a full-time COP. Both employers are willing to cooperate, but despite their assistance and our attempts through the portal, the issue remains unresolved. Request for Guidance: If anyone has encountered a similar situation or has any knowledge of a proper channel to escalate this issue within ICAI, we would be extremely grateful for your advice. If you could provide any email addresses, contact persons, or specific ICAI departments that could assist in resolving this, it would be of immense help to us. Due to this issue, my friend has been unable to perform audits or engage in practice for the past six months. We are seeking urgent guidance on how to navigate this situation and successfully update the records in the ICAI portal to obtain a valid

BY: RYALI VAMSI KRISHNA

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An asessee is selling majority of goods out of state and is issuing interstate bill with Eway bill but his purchases are local and through Cycle rickshaw and Erickshaw that are not accompanied with Ewaybill GST officials are asking for explanation for difference in Ewaybill generatewd and Ewaybill received

BY: Mahesh Kumar

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Private tutorship less then 25 hours a week whether General Permission or Specific Permission as per below 190A extract - Engagement as Lecturer in an University, affiliated college, educational institution, coaching organization, private tutorship, provided the direct teaching hours devoted to such activities taken together do not exceed 25 hours a week.

BY: ANKIT BHANSALI

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How to apply for specific permission under 190A

BY: ANKIT BHANSALI

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My doubt is when ca proprietorship firm merge into partnership ca firm and proprietor ca become partner in partnership firm is number of this partner counted as CAG empanelment or other tender qualifying marks ??

BY: CA PRADEEP KUMAR YADAV

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Dear all, What will be the Capital Gain implications in case entire proprietorship business had been transferred to daughter after death of her father ?? Second question is that what will be the Capital Gain implications in case such daughter along with two other sisters constitutes partnership by way of discontinuance of proprietorship wef 01/01/2024 ??

BY: SUDIP KUMAR MUKHOPADHYAY

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M/s PQR is an AOP ( Association of Persons) . Its members are M/s ABC Pvt ltd and M/s DEF (partnership firm ). So is M/s PQR and M/s ABC Pvt ltd related parties as per companies act .

BY: samirkumar gokulbhai kasvala

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Whether a CA Firm in Practice in LLP mode can invest in share and mutual fund in LLP Name

BY: ANKIT BHANSALI

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M/s PQR is an AOP ( Association of Persons) . Its members are M/s ABC Pvt ltd and M/s DEF (partnership firm ). So is M/s PQR and M/s ABC Pvt ltd related parties as per companies act .

BY: samirkumar gokulbhai kasvala

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A government body has appointed me as Auditor of a Society. The term of the appointment states that the Auditor shall prepare Trial balance, Receipts and Payment Account and Balance Sheet apart from Audit . The Clause of Terms and Condition is " Audit by the Chartered Accountants shall include Value of Money Analysis, Economy Efficiency and Effectiveness. receipts and Payment Accounts , In come & Expenditure Account and Balance Sheet to be prepared and certified " Thou it is not clear whether the Auditor has to prepare the Final Account and Audit the same, the Auditee expects the Auditor to do so. Under such circumstances, can we accept the assignment or will it be against the professional ethics

BY: Syed Sultan Mohideen

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Please clarify whether DMF (District Mineral Fund) contribution made by mining companies (at rate of 30% of royalty) over and above royalty payment being made while dispatching minerals from mines shall be subject to GST under RCM as per Sl no-5 of Notification 13/2017 Central Tax (Rates) or shall be exempted from GST as per notification 12/2017 as services being provided by Governmental authority. In this regard it may be noted that the DMFT (District Mineral Fund Trust) has now been clarified as a governmental authority as per CIRCULAR-206/18/2023-GST and it has been clarified that they are eligible for the same exemptions from GST as available to any other Governmental Authority.

BY: CA. PRUSTY SIDHARTHA SHANKAR

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Please let me know that whether it is mandatory to prepare financial statements of non corporate entities in new format from fy 23-24 or from fy 24-25, kindly clarify the interpretation of technical guide (June 22) and Guidance note ( Aug 23) on financial statements of non corporate entities

BY: SHWETA JAIN

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Distribution rights of pharmaceutical company sold to other for consideration. Whether GST is levied

BY: CA ATUL TOSHNIWAL

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I was Practicing As A partner in Partnership firm till 15-May-2024. thereafter my firm was merged with another partnership firm from 15-May-2024 till now. My Previous Partnership Firm was Appointed As An Auditor In Some Companies. My Query Is As A Result Of Merger, Do I Need To Resign In Those Companies By Filing Form ADT-3 And Appoint The Partnership Firm As Auditor By Filing Form ADT-1 Or I don't need to file ADT-3 For the F.Y. 2023-2024, Just informing board of Directors of companies is sufficient. I kindly request your guidance on this matter, as I have sought answers from various sources but have not received a satisfactory response. Is there any notification, guidance anything to support the view

BY: SACHINDER GARG

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Equity shares of public limited co alloted under promoter quota sold. How the capital gain will be computed

BY: CA ATUL TOSHNIWAL

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A cooperative society has furnished Audit note of Society Inspector( who does Statutory Auditor) and financial statements for Tax audit and tax audit report has been furnished.Now we find there is mistake in Profit and loss account. One entry around Rs 70000- has been entered twice Whether We should revise TAR altering the deduction amount under Sec 80P so that tax i\liability is nil or pay tax on Rs 70000- by adding back Rs 70000-

BY: Mahesh Kumar

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My client is doing restaurant service paying GST at 5% without claiming ITC. Is he liable to pay GST compensation cess on supply of aerated water in addition to this 5% GST.

BY: VISAKH

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I was Practicing As A partner in Partnership firm till 15-May-2024. thereafter my firm was merged with another partnership firm from 15-May-2024 till now. My Previous Partnership Firm was Appointed As An Auditor In Some Companies. My Query Is As A Result Of Merger, Do I Need To Resign In Those Companies By Filing Form ADT-3 And Appoint The Partnership Firm As Auditor By Filing Form ADT-1 Or I don't need to file ADT-3 For the F.Y. 2023-2024, Just informing board of Directors of companies is sufficient. I kindly request your guidance on this matter, as I have sought answers from various sources but have not received a satisfactory response. Is there any notification, guidance anything to support the view.

BY: SACHINDER GARG

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An audit report was issued on 1st August and subsequently the auditor issued another revised audit report on 5th August with changes in the wordings of the new audit report along with a new udin in 5th August since time limit to revoke the udin for 1st August has elapsed. How ever there was no changes in the figures of the FS on both the dates. Now will the new udin with revised audit report will overrule over the old udin as two udins were generated for the same set of FS? The assessee is a non corporate audit client and assessee is not liable to get its accounts audited under IT act or any other act and declares his income under 44AD(he voluntarily choose to get its accounts audited basically to apply for tenders) kindly guide whether any requirements to be followed

BY: CA INDRANEEL BISWAS

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