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| Point of taxation under GST | |
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| Excerpt of query: | Assessee is garage owner for repairing motor cars and register dealer under GST , has executed an franchise agreement with the other person on 1.04.2021 and date of commencement of franchise period of 3 year is from 1.06.2021. Assessee received some amounts from the other person in the month of March 2021, which will be adjusted towards franchise fees which is going to be operative w.e.f .1.06.2021. Whether amount of GST is to be paid in the month of March 2021 or June 2021 |
| VSV FORM4 SUBMISSION – FIle Name Format for Proof withdrawal | |
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| Excerpt of query: | My Form 4 is not accepting by new portal in the final stage of FORM4 submission . Shows reason ” Invalid format of ARN” . I am able to enter payment details.(no option for challan attachment ). Asking for proof of withdrawal. Appeal pending with CIT(A). Even if attaching acknowledgement of submission on hearing and attaching that acknowledgement, showing error. Any specified format for APPEAL withdrawal proof on FORM4 . |
| REFUND OF ITC ON ACCOUNT OF INVERTED DUTY STRUCTURE | |
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| Excerpt of query: | IN CASE OF MINING INDUSTRIES (QUARRY BUSINESS), GST IS PAID ON RCM BASIS ON ROYALTY PAID TO GOVERNMENT FOR EXTRACTING MINERALS AT 18% AND AFTER PAYMENT ITC IS ALSO AVAILED IN GST RETURN. WHEREAS ALL SALES IS AT 5% LEADING TO ACCUMULATION OF ITC. Q1 – HOW TO CLAIM REFUND OF SUCH ACCUMULATED ITC MAINLY DUE TO RCM PAYMENT OF ROYALTY Q2 – WILL SUCH ITC AVAILED ON ROYALTY CLASSIFIED AS ITC ON INPUT SERVICE Q3 – THE SUPREME COURT HAS RECENTLY DISMISSED THE GUJARAT HC JUDGEMENT IN CASE OF VKC FOOTSTEPS INDIA – WHAT IS THE POSITION NOW. Q4 – ARE THERE ANY CHANCES THAT THE GST COUNCIL MAY AMEND THE RULE AND ALLOW GST REFUND ON ITC OF INPUT SERVICE ALSO IN CASE OF INVERTED DUTY STRUCTURE |
| COA for Urban Agri. Land or NA Land (Converted from Urban Agri. Land) as on 01-04-2001 | |
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| Excerpt of query: | Ancestral Urban Agri. Land had been converted into NA Land in FY 2017-18 and ultimately sold in FY 2021-22. For the purpose of computing capital gains, while determining COA as on 01-04-2001, whose FMV is to be taken – i.e. applicable to Urban Agri. Land or NA Land? Also whether is it possible to take COA as on the date the Urban Agri. Land was converted to NA Land? Thanks. |
| Whether penalty u/sec. 271D can be levied on undisclosed money surrender by the assessee during search/ Survey under Income tax Act 1961. | |
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| Excerpt of query: | During the course of search/ Survey action some incriminating documents found which indicates assessee has received on money in cash in excess of Rs. 2lakh from flat purchasers. He surrender the same and paid the taxes. Whether penalty U/Sec. 271D can be levied on this on money taxed as undisclosed income. |
| CAN WE QUESTION ON THE ORDER PASSED BY THE AO ON THE BASIS OF JURISDICTION | |
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| Excerpt of query: | PROVIDE ME ALL THE JUDGEMENTS THAT ARE IN THE FAVOUR OF THE ASSESSEE WITH RESPECT TO JURIDICTION |
| GST ON SALE OF RIGHT ACCQUIRED IN LAND | |
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| Excerpt of query: | ASSESSEE EXECUTED BANAKHAT (AGREEMENT TO PURCHASE LAND) FOR TOKEN CONSIDERATION OF RS. 10 LACS. NOW ORIGINAL OWNER IS SELLING LAND TO THID PARTY AND ASSESSEE RECEIVES RS. 30 LACS AS CONSIDERATION FOR SELLING/RELINQUISHING RIGHTS IN THE LAND BY CANCELLING ORIGINAL AGREEMENT TO PURCHASE. WHETHER SUCH SUM RECEIVED FOR WITHDRAWING RIGHTS IN LAND WILL BE CHARGEABLE TO GST? IF YES, WHAT AMOUNT WILL BE TAXABLE – ONLY THE PROFIT MARGIN (RS. 20 LACS) OR ENTIRE CONSIDERATION AND AT WHAT RATE IT WILL BE TAXABLE? |
| GST REVOCATION OF CANCELLATION OF REGISTRATION | |
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| Excerpt of query: | ASSEESSEE GST REGISTRATION CANCELLED VIDE CANCELLATION ORDER DATED 30/12/2019 U/S 29(2C) OF THE CGST ACT. ASSESSEE HAS NOT APPLIED FOR REVOCATION OF CANCELLATION OF REGISTRATION OR NOT FILED ANY APPEAL TILL DATE. RECENTLY ISSUED GST NOTIFICATION 34/2021 DATED 29/08/2021 EXTENDED TIME LIMIT FOR FILING REVOCATION TILL 30/09/2021 ONLY IN CASE WHERE DUE DATE FOR FILING REVOCATION OF CANCELLATION OF REGISTRATION FALLS BETWEEN 01/03/2020 TO 31/02/2021. IN OUR CASE, THE DUE DATE TO FILE REVOCATION APPLICATION DOES NOT FALL IN GIVEN PERIOD. HENCE BENEFIT OF ABOVE NOTIFICATION NOT AVAILABLE TO ASSESSEE. ALSO TIME LIMIT TO FILE APPEAL HAS EXPIRED. IN GIVEN SITUATION WHAT OPTIONS ARE AVAILABLE TO ASSESSEE TO ACTIVATE HIS GST REGISTRATION? |
| Limitation to complete assessment u/s 143(3) – A.Y.2019-20 | |
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| Excerpt of query: | Search & Sezure action u/s 132 was conducted on 19.06.2018. Assessments for the A.Y. 2013-14 to 2018-19 were completed u/s 153A on 14.08.20121. Assessment for the Assessment Year 2019-20 was completed u/s 143(3). The Government has extended date from time to time to complete the assessment u/s 143(3). In the light of extended period what is last date to complete the assessment u/s 143(3) for AO for the Year 2019-20. Kinly inform about latest circular on the subject. It is also requested to please inform whether prior approval to select the case for scrutiny (part priod is searched period) is necessary. |
| reassesment u/s 147 when CIT exercises revisonal powers | |
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| Excerpt of query: | Sir, In one case, the CIT u/s 263 has set aside an assesssment u/s143(3) for a particular issue to be verfied by the assessing officer. However for the same assessment year, the assessing officer has re opened u/s 147 on another issue. Whether two proceedings is possible for same assesment year. How to proceed to re opening notice, pl advice |