Hi Ajay , If , you are issued a debit note to your customer, it will come in GSTR1. I have a done a video regarding, Consolidated Debit/credit note in GSTR1.pls. view.
I got a notice from gst department. Because of creditnote itc showed column B. Now I understood what they are meaning. Thank u sir your valuable information. Nee i show the ineligible itc in accounts preparing? Perties will buy for construction material bills thier building purpose. this input is very huge. So which head will i show the accounts?
Hi Navas, Perties will buy for construction material bills thier building purpose. this input is very huge. ---------------------------------------------------------------------------------------------------------------------------------------------------- Above told by you, is your sales. You wants to claim INPUT on your Purchase & expense.
Hi sundar Raj...When you are returning purchased materials , your supplier will issue GST CREDIT NOTE and they will show in their GSTR-1 ok Then you have to reverse the ITC you already claimed on that purchase and must be shown in GSTR-3B 4th table at Reversal column.. clear.. ok
Hi Maniyan, Kindly check, Nil rated Inward supply will come under : GSTR-3B: TABLE 5 5. Values of exempt, nil-rated and non-GST inward supplies ---------------------------------------------------------------------------------------------------------------- Nature of supply | Inter State Supply | Intra State Supply. ---------------------------------------------------------------------------------------------------------------- From a supplier under composition scheme, Exempt and Nil rated supply ---------------------------------------------------------------------------------------------------------------------- Non GST supply
Sir, If I buy a blocked credit asset of Rs.8,80,000 (i.e 8,00,000+gst80,000), normally asset a/c will be debited with full amt i.e 8,80,000.00 i.e including tax amt, because we can not claim ITC. But as we have to show ineligible ITC in GSTR 3B, we have to create an account for the same. So, sir could you please tell we what entry I have to put when I account the above purchase for blocked credit asset..?
In Tally, there is a perfect style to put entry, somebody told.(I dont know perfectly, If you have anybody Tally expert friend, kindly ask ) I am just created a Ledger in the name of Ineligible input.That is ineligible input CGST & SGST will debit instead of Input CGST & SGST..Later , both (i.e this ineligible input portion)will transfer to Expense ledger A/c. Then month last you will get a track of all ineligible input.So, you can take print out of INeligible Input Csgt & Sgst Ledger and after reconcile with GSTR-2A & 2B, Then keep it with your monthly workings of GSTR-3B...
Hi Maniyan, Gstr-9 Table 6 H : Amount of ITC reclaimed // The aggregate value of ITC which was availed, reversed and reclaimed during the same financial year should be reported in this Table. Note: ITC which was availed and reversed during 2017-18 and reclaimed in 2018-19 should not be disclosed in this Table. In my opinion, No where in Monthly & Annual return. If you are not claiming )If it is GSTR-9C Case , you can mention in the Audit Report. Kindly clarify with CA.
Sir, ഞാൻ ineligible IPT ക്ലെയിം ചെയ്യാത്ത ഒരു വ്യക്തി ആണെങ്കിലും ആയതിന്റെ Ipt ee കോളത്തിൽ കാണിക്കണമോ. For eg, ഞാൻ ഒരു കാർ വാങ്ങി ആയതു ineligible credit ആയതിനാൽ claim ചെയ്യാതെ tax അടക്കം Fixed asset ആയി കാണിച്ചു. ഇത് ശരിയായ രീതി ആണോ,?
Yes Ramesh sir,...if you are not claiming ITC, you can add tax portion to the cost of Fixed Asset and can take depreciation on total amount. you are right. But if you are first transfer this tax portion to ineligible credit ledger and from that ledger to fixed asset account, monthly ,you will get a control over ineligible input and if this input in GSTR-2A , you can show this GSTR-3B. e.G: In gstr-2A 10,000/- Input came (Eligible Rs.9000+Rs.1000/- ineligible) .You want to show Rs.9000/- in eligible input and 1000/- as ineligible input in GSTR3B. In accounts, you can add this 1000/- as expense.
Valuable informations
Hi Vrinda....thank you....
Thank you very much sir for this kind of valuable videos ,Awaiting more videos
Thank you...Antony sir...Will do...
Very informative.....
Thank you . unnikrishnan sir...
sir, where do we mention ITC which is not furtherence of business and not listed in Blocked ITC
Hi..muhammed ..it is ineligible ITC..You can show it , in 4 th table of GSTR-3B
debit note gstr1 il kanikanda avashyamundo
Hi Ajay , If , you are issued a debit note to your customer, it will come in GSTR1. I have a done a video regarding, Consolidated Debit/credit note in GSTR1.pls. view.
I got a notice from gst department. Because of creditnote itc showed column B. Now I understood what they are meaning. Thank u sir your valuable information. Nee i show the ineligible itc in accounts preparing? Perties will buy for construction material bills thier building purpose. this input is very huge. So which head will i show the accounts?
Hi Navas,
Perties will buy for construction material bills thier building purpose. this input is very huge.
----------------------------------------------------------------------------------------------------------------------------------------------------
Above told by you, is your sales. You wants to claim INPUT on your Purchase & expense.
Due date of annual return 2018-19
31-10-2020
Purchase return Tax or Debit Note Tax 3B IL evide kodukkanam
Hi sundar Raj...When you are returning purchased materials , your supplier will issue GST CREDIT NOTE and they will show in their GSTR-1 ok
Then you have to reverse the ITC you already claimed on that purchase and must be shown in GSTR-3B 4th table at Reversal column.. clear.. ok
Thank you sir.Now cleared.
GSTR 9 filing explain cheyyumo sir?
Does nil rated inward supply details need to be specified in GSTR-3B. If yes, where?
Hi Maniyan, Kindly check,
Nil rated Inward supply will come under :
GSTR-3B: TABLE 5
5. Values of exempt, nil-rated and non-GST inward supplies
----------------------------------------------------------------------------------------------------------------
Nature of supply | Inter State Supply | Intra State Supply.
----------------------------------------------------------------------------------------------------------------
From a supplier under
composition scheme, Exempt and
Nil rated supply
----------------------------------------------------------------------------------------------------------------------
Non GST supply
Sir, If I buy a blocked credit asset of Rs.8,80,000 (i.e 8,00,000+gst80,000), normally asset a/c will be debited with full amt i.e 8,80,000.00 i.e including tax amt, because we can not claim ITC. But as we have to show ineligible ITC in GSTR 3B, we have to create an account for the same. So, sir could you please tell we what entry I have to put when I account the above purchase for blocked credit asset..?
In Tally, there is a perfect style to put entry, somebody told.(I dont know perfectly, If you have anybody Tally expert friend, kindly ask ) I am just created a Ledger in the name of Ineligible input.That is ineligible input CGST & SGST will debit instead of Input CGST & SGST..Later , both (i.e this ineligible input portion)will transfer to Expense ledger A/c. Then month last you will get a track of all ineligible input.So, you can take print out of INeligible Input Csgt & Sgst Ledger and after reconcile with GSTR-2A & 2B, Then keep it with your monthly workings of GSTR-3B...
Thank You so much sir.
I have exported goods with IGSt paid , I filed Gstr1 with Bill of entry details, but I didn’t received the IGSt amount, how to get IGSt refund??
Sorry Savad sir,I am not deeply studied about Export refund case.So i am not possible to give a correct reply.
ITC REFUND EPOL KITTUM
File Form GST RFD-01 electronically on GST portal...
@@SUNILSSMARTFINANCEMANAGER can u upload video how to file gst RFD 6
RFD 01
Rule 42 പ്രകാരം ITC Reversed ചെയ്തത് വീണ്ടും claim ചെയ്യുന്നില്ല എന്ന് എവിടെ specify ചെയ്യണം ?
Hi Maniyan, Gstr-9 Table 6 H : Amount of ITC reclaimed // The aggregate value of ITC which was availed, reversed and reclaimed during the same financial year should be reported in this Table.
Note:
ITC which was availed and reversed during 2017-18 and reclaimed in 2018-19 should not be disclosed in this Table.
In my opinion, No where in Monthly & Annual return. If you are not claiming )If it is GSTR-9C Case , you can mention in the Audit Report. Kindly clarify with CA.
Sir, ഞാൻ ineligible IPT ക്ലെയിം ചെയ്യാത്ത ഒരു വ്യക്തി ആണെങ്കിലും ആയതിന്റെ Ipt ee കോളത്തിൽ കാണിക്കണമോ. For eg, ഞാൻ ഒരു കാർ വാങ്ങി ആയതു ineligible credit ആയതിനാൽ claim ചെയ്യാതെ tax അടക്കം Fixed asset ആയി കാണിച്ചു. ഇത് ശരിയായ രീതി ആണോ,?
Yes Ramesh sir,...if you are not claiming ITC, you can add tax portion to the cost of Fixed Asset and can take depreciation on total amount. you are right. But if you are first transfer this tax portion to ineligible credit ledger and from that ledger to fixed asset account, monthly ,you will get a control over ineligible input and if this input in GSTR-2A , you can show this GSTR-3B. e.G: In gstr-2A 10,000/- Input came (Eligible Rs.9000+Rs.1000/- ineligible) .You want to show Rs.9000/- in eligible input and 1000/- as ineligible input in GSTR3B. In accounts, you can add this 1000/- as expense.
GSTR 2Bനെ കുറിച്ച് വിശദീകരണം നൽകാമോ
Sure