FREQUENTLY ASKED QUESTIONS BY FOLLOWERS
Q.1 WHETHER ITC CAN BE UTILISED WHILE SUPPLYING GOODS OR SERVICES TO SEZ UNIT UNDER WITH PAYMENT OF TAX?? (ASKED BY VEDAVYAS)
ANSWER:- YES, ITC CAN BE UTILISED.
AS PER SECTION 16(1) OF IGST ACT, SEZ SUPPLIES ARE ALSO KNOWN AS "ZERO RATED SUPPLIES" I.E. TREATMENT IS SAME AS OF NORMAL EXPORTS. AND CAN BE DONE IN TWO WAYS:-
1.WITH PAYMENT OF TAX:- IGST IS CHARGED AND ITC CAN BE UTILISED, FURTHER IGST PAID CAN BE CLAIMED AS REFUND
2.WITHOUT PAYMENT OF TAX:- NO TAX IS PAID, REFUND OF ITC CAN BE CLAIMED.
Q.2 HOW DO YOU STAY UPDATED? (ASKED BY MAYUR NANKANI)
ANSWER:- WE FOLLOW RELEVANT PAGES ON INSTAGRAM AS WELL REGULARLY WATCHING YOUTUBE VIDEOS AND KEEP A TRACK OF NOTIFICATIONS FROM OFFICIAL WEBSITE OF INCOMETAX AND GST
Q.3 WHEN ITR FOR F.Y. 204-25 CAN BE FILED? (ASKED BY ANKUSH)
ANSWER:- LAST DATE TO FILE PERSONAL RETURN IS 31ST JULY 2025 FOR F.Y. 2024-25, YOU CAN FILE AS EARLIER AS YOU WANT FROM 01ST APRIL 2025, HOWEVER GENERALLY ITR FORMS ARE NOT AVAILABLE IN APRIL MONTH, SO YOU CAN FILE ONCE FORMS ARE AVAILABLE. GENERALLY IN MAY OR JUNE.
Q.4 ISD COMPLIANCE REGISTRATION AND RETURN? (ASKED BY SUDARSAN)
ANSWER:- SEPRATE REGISTRATION IS REQUIRED FOR ISD AS ISD WHERE IT CAN DISTURBUTE COMMON ITC ACCORDINGLY. FURTHER ISD CAN RECEIVE ONLY SERVICES AND NOT GOODS.GSTR-6 IS REQUIRED TO BE FILED BY 13TH OF NEXT MONTH. ISD CAN DISTRIBUTE ITC TO ITS BRANCHES IN SAME STATE AS WELL AS IN DIFFERENT STATES.
Q.5 NEED LATEST UPDATES ON DAILY BASIS? (ASKED BY HASMITA)
ANSWER:- WILL TRY TO CREATE A WHATSAPP GROUP AS SOON AS POSSIBLE
Q.6 GST ON ROYALTY? (ASKED BY ABHI)
ANSWER:- YES GST ON ROYALTY IS APPLICABLE @ 18% UNDER RCM
Q.7 WHAT QUALITIFCATIONS REQUIRED FOR A 30K JOB? (ASKED BY VINAY)
ANSWER:- JUST BASIC KNOWLEDGE OF INCOMETAX AND GST AND ACCOUNTING AS WELL. WE PROVIDE GST COURSE. YOU CAN PURSUE THAT. SIMILARLY YOU CAN GET SMALL COURSES ANYWHERE WHICH WILL INCREASE AND STRONG YOUR BASICS.
Q.8 ITR FILED AND TDS SHORT CLAIMED, WHETHER REMANING TDS CAN BE CLAIMED NOW? (ASKED BY SAQIBI)
ANSWER:- YES IF ITR IS FILED AND NOT PROCESSED, YOU CAN REVISE ITR WITH CORRECT TDS DETAILS AND IF ITR IS PROCESSED, YOU CAN FILE RECTIFICATION INDICATING REASON AS TDS MISMATCH
Q.9 IN GST AMENSTY, IF THERE IS ORDER OF RCM LIABILITY U/S 73 AND AGAINST WHICH APPEAL HAS BEEN FILED, HOW TO PROCEED FURTHER? (ASKED BY ____)
ANSWER:- IN MY OPINION FIRST OF ALL, IF ORDER IS RELATED TO AMENSTY PERIOD ONLY, THEN WITHDRAW THE APPEAL AND FILE SPL-02 ALONG WITH PAYMENT OF TAX. FURTHER 10% WHICH WAS ALREADY PAID AS PRE-DEPOSIT IN APPEAL CAN BE CLAIMED BE REFUND BY FILING AN APPLICATION. BUT FILE REFUND ONLY ONCE PROCEEDINGS ARE DROPPED UNDER AMENSTY SCHEME AND BENEFIT OF AMENSTY SCHEME IS CLAIMED.
Q.10 IN PRIVATE LIMITED COMPANY, AUTHORISED IRECTOR DETAILS ARE REQUIRED ONLY IN AUTHORISED SIGNATORY TAB OR ELSE IN AUTHORISED REPRESENTATIVE TAB? (ASKED BY ALOK)
ANSWER:- ONLY IN AUTHORISED SIGNATORY TAB.
Q.11 WHETHER WHILE FILING TDS RETURN FOR RENT PAYMENT, WHICH AMOUNT IS REQUIRED TO BE FILLED WITH GST AND TDS OR ELSE? (ASKED BY ALOK)
ANSWER:- RENT AMOUNT WILL BE REPORTED EXCLUIVE OF GST AND TDS, i.e.. GROSS VALUE TO BE REPORTED. SUPPOSE RENT IS RS.40,000/- PM, THEN TDS WILL BE 4000, (10%) AND GST WILL BE 7200 (18%), THEN ONLY 40,000 IS REQUIRED TO BE REPORTED WHILE FILING TDS RETURN
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