Taxation Head – Textile Industries, Coimbatore
M.Com | Advanced Diploma in GST (IISDT, Indore – 2025) | Fundamentals of GST (Ramanujan College, University of Delhi – 2023) | Life Member - Indian Accounting Association (Coimbatore Branch)
I am a seasoned finance and taxation professional with over 25 years of experience in accounting, taxation, and compliance. I have strong expertise in finalizing accounts in accordance with the Income Tax Act, Companies Act, and GST Act. My core competencies include preparing and filing TDS/TCS returns, Income Tax returns, and GST returns, ensuring full compliance with relevant tax laws and regulations. I enjoy sharing knowledge with others and learning from experienced professionals. I focus on following rules correctly and helping my team and organization do the same. With practical experience, academic knowledge, and continuous professional development, I deliver reliable service in tax compliance, account finalization, and representation before regulatory authorities.
Showing 1 to 6 of 6 Results
Issue Id: 120625
Experts’ Opinions Requested on the Following Scenarios: 1. Sale of Motor Vehicle - No GST Charged (Sale Value Less Than ...
Read Full Issue Goods and Services Tax - GST
Issue Id: 120389
Dear Experts, A GST Scrutiny Show Cause Notice has been received for FY 2021-22 due to a mismatch between the E-Way Bill (EWB) turnover and GSTR-1 ...
Read Full Issue Goods and Services Tax - GST
Issue Id: 120388
Dear Experts, One of our clients has received a notice from the GST Department regarding output tax liability reduction through credit notes for ...
Read Full Issue Goods and Services Tax - GST
Issue Id: 120277
Dear Experts, My Turnover is Rs.6,00,00,000/- Please compute the late fee payable by me if I file GSTR 9 & GSTR-9C today ...
Read Full Issue Goods and Services Tax - GST
Issue Id: 120276
Dear Experts, I would be grateful for your guidance on a specific query related to the 24Q1 Salary TDS Return for FY 2025-26, particularly in ...
Read Full Issue Income Tax
Issue Id: 120236
Respected Sir/Madam, One of my clients has received a notice in Form GSTR-3A via the GST Portal and email, stating that the GSTR-4 (Annual Return) ...
Read Full Issue Goods and Services Tax - GST
Showing 1 to 14 of 14 Results
Input Tax Credit reversal not required when the recipient never availed ITC on returned goods under GST.
Certificate of non-availment of Input Tax Credit is used where credit notes are issued for return or rejection of goods under section 34 of the CGST/TNGST Act, 2017. It records that the recipient did not avail, utilise, or retain ITC on the original supplies and therefore no ITC reversal is required. The note says the certificate supports GST compliance, audit verification, assessment, and other departmental proceedings, and includes an annexure for credit note and invoice details. (AI Summary)
Goods and Services Tax - GST
Non-deduction of tax at source for transporter payments depends on ownership limits, PAN disclosure, and compliance declarations.
Declaration format for non-deduction of tax at source on payments to a transporter engaged in plying, hiring or leasing goods carriages. The transporter states that it does not own more than ten goods carriages during the relevant financial year, provides PAN details and vehicle particulars, and confirms that the payments relate to the carriage business and meet the prescribed conditions for non-deduction. The declaration also requires immediate notice of any change in status, confirmation of truthfulness, and an indemnity in favour of the payer. (AI Summary)
Income Tax
Input tax credit reversal confirmation: recipient certificate documents ITC reversal for credit notes and annexure details for compliance.
Certificate confirming that the recipient has reversed Input Tax Credit attributable to credit notes issued for post supply discounts and/or sales returns, with an annexure listing each credit note, taxable value, tax components, original invoice references, reversal document and month of reversal. It records that the prior requirement for a practising accountant's certificate as evidence has been withdrawn, includes an authorised signatory attestation, and is intended to document compliance with statutory ITC reversal mechanisms for supplier verification and audit support. (AI Summary)
Goods and Services Tax - GST
GST assessments include self-assessment, provisional, scrutiny, best judgement and urgent summary assessments with bonds, notices, and approvals.
Assessment under GST is categorised into procedural types: Self-Assessment requires taxpayers to determine and pay tax through prescribed returns; Provisional Assessment allows payment subject to bond and security where value or rate is uncertain, with later final adjustment; Scrutiny Assessment permits officer examination of returns and issuance of notices for discrepancies; Best Judgement Assessment enables officers to estimate liability where taxpayers fail to file or are unregistered; Summary Assessment permits immediate assessment with higher authority approval in urgent cases, with subsequent rights to challenge or seek withdrawal. (AI Summary)
Goods and Services Tax - GST
GST rate reduction does not require ITC reversal unless the rate change expressly prohibits claiming input tax credit.
Section 18(4) mandates ITC reversal only when supplies become wholly exempt or on opting for composition; a mere GST rate reduction that preserves taxability does not trigger reversal, but where the rate change is accompanied by a notification barring ITC, previously claimed credits on inputs, input services and capital goods must be reversed in accordance with rules prescribing calculation. (AI Summary)
Goods and Services Tax - GST
Reversal of Input Tax Credit required if supplier fails to file GSTR-3B; re-availment allowed after supplier files.
Rule 37A requires recipients to reverse Input Tax Credit if the supplier has not filed the related GSTR-3B by 30th September following the financial year; reversal must be reflected in the recipient's GSTR-3B filed on or before 30th November, and failure to reverse makes the ITC amount payable with interest. If the supplier later files the pending GSTR-3B, the recipient may re-avail the reversed ITC in any future GSTR-3B return. (AI Summary)
Goods and Services Tax - GST
Reversal of Input Tax Credit required where supplier fails to file GSTR 3B, with re availment permitted after supplier compliance.
Rule 37A requires recipients to reverse ITC availed on invoices where the supplier has not filed the required return for the relevant period by the prescribed cutoff; failure to reverse within the compliance window renders the ITC amount payable with interest. If the supplier subsequently files the outstanding return, the recipient may re avail the same ITC in a later return. The rule complements temporal eligibility restrictions on initial ITC claims and places monitoring and reversal obligations on recipients, with interest consequences for delayed reversal and non refundability of interest noted in the commentary. (AI Summary)
Goods and Services Tax - GST
Input tax credit eligibility for registration and business changes requires strict timing and prescribed adjustment conditions.
Input tax credit is allowable when taxpayers change registration status or business character-new or voluntary registration, exit from exempt supplies, or switch from composition to normal regime-for inputs, inputs in semi finished/finished goods and capital goods (subject to prescribed reduction) held the day before the change, provided claims are made within a strict time limit and general eligibility, apportionment and blocked credit rules apply; transfers of unutilized credit on business transfers and recovery adjustments on supply of capital goods are subject to prescribed conditions. (AI Summary)
Goods and Services Tax - GST
Input tax credit apportionment: restrictions and specified blocked credits limit recoverable GST credit under Section 17.
Section 17 restricts ITC to the portion attributable to business or taxable/zero rated supplies, prescribes inclusion of reverse charge receipts, securities transactions and sale of land/buildings in the exempt supply value (with certain Schedule III exclusions), and allows banks/financial institutions/NBFCs an irrevocable option to claim fifty percent of eligible ITC monthly with the balance lapsing. It sets out specific blocked credits (motor vehicles, vessels/aircraft, related insurance/repairs, specified hospitality and welfare services, works contracts for immovable property, construction on own account, composition taxed supplies, non resident receipts (except imports), CSR, personal consumption, lost or gifted goods, and certain past tax payments) and permits government rules for attribution; plant and machinery is defined for these purposes. (AI Summary)
Goods and Services Tax - GST
Input Tax Credit eligibility requires valid invoice, supplier reporting, receipt of supply and timely return filing to claim credit.
ITC is claimable only when a registered person holds a valid tax invoice or debit note, the supplier reports the invoice details via the GST portal and communicates them to the buyer, the goods or services have been received (including deemed receipt), the tax charged has been paid to the government by the supplier, and the buyer has filed the relevant returns; additional provisos address installment deliveries, reversal where payment to supplier is not made within specified timeframes, reclaiming reversed ITC upon payment, exclusion of GST component claimed as depreciation, and statutory time limits for filing claims. (AI Summary)
Goods and Services Tax - GST
Related-party valuation rules: open market value priority, fallback methods, and invoice acceptance where full input tax credit exists.
Valuation between distinct or related persons (not through an agent) must use open market value if available; if not, value by like kind and quality, and if still not determinable apply Rule 30 (cost plus ten percent) or Rule 31 (reasonable means). A supplier may elect a 90% valuation where the recipient further supplies as such, and invoice value is accepted as open market value when the recipient can claim full input tax credit. Corporate guarantee value is the higher of one percent per annum of the guaranteed amount or actual consideration. (AI Summary)
Goods and Services Tax - GST
Non taxability of lorry hire income: rental receipts to a goods transport agency are exempt from GST under the nil rated classification.
Income from hiring lorries to a goods transport agency is treated as a supply of service that is nil rated under the GST rate notification, and therefore rental receipts from leasing vehicles to a registered GTA are exempt from GST. The rental service is legally distinct from the GTA's transport services, ensuring the GTA alone bears tax on its transport activity while the lessor's hire charges remain outside GST. (AI Summary)
Goods and Services Tax - GST
Closing GST proceedings: online waiver applications permitted subject to payment, documentation, timelines and registry adjustments.
The rule establishes an online procedure for closure of proceedings under Section 128A by permitting waiver applications in FORM GST SPL-01 or SPL-02, requires tax payment to be reflected in the Electronic Liability Register (including use of FORM GST DRC-03A where applicable), mandates full payment where demands are mixed or partly for erroneous refunds, sets filing deadlines and documentary proof of appeal withdrawal, prescribes officer notice and reply forms (SPL-03 and SPL-04), and provides for approval by SPL-05, rejection by SPL-07, automatic approval on officer inaction, and lapse of waivers if required payments are not made. (AI Summary)
Goods and Services Tax - GST
Input Tax Credit entitlement requires valid tax invoice, receipt of supplies, supplier's tax payment and filed GST returns.
Input Tax Credit is claimable only when a registered person holds a valid tax invoice or debit note from a registered supplier, has received the goods or services (with instalment rules applying to goods), the supplier has paid the GST to the government (by cash or through input tax credit), and the claimant has filed the applicable GST returns; acceptable documents include supplier invoices and debit notes, bills of entry for imports, ISD invoices, and invoices/credit notes for reverse-charge transactions. (AI Summary)
Goods and Services Tax - GST
TaxTMI 
TaxTMI 
0
27 Nov 2025 
2 Replies 
2811 Views 
