If you have entered any data with a non existent HSN code, this warning error is flashed. At the time of uploading GSTR-1, portal does not check the HSN codes and accept the return. However, while uploading GSTR-9, validity of HSN codes is checked by portal. You cannot upload GSTR-9 with invalid HSN codes. You… Continue reading While making GST Return, a warning w.r.t. missing HSN Code is flashed. What is the impact of this error on GSTR-1 / GSTR-9 ?
Category: GST Returns
Where do we show exempted / nil rated supplies in GSTR-1 ?
W.e.f. 01/04/2019, only taxable supplies are being shown in para 4, 5 and 7 of GSTR-1. Exempted, nil rated supplies are now shown in para 8 only. Note: prior to 01/04/2019, all exempted / nil rated supplies were shown in para 4, 5 and 7 of GSTR-1. These were also shown in para 8 of… Continue reading Where do we show exempted / nil rated supplies in GSTR-1 ?
When we enter Purchase of Fixed Assets (e.g. Air Conditioner) through GST Docs, the amount is posted in “Purchase Local xx%” account. However it should be debited to “Air Conditioner” account. How can we resolve this issue ?
Whenever you enter purchase through GST Docs, the amount is debited to default Purchase account. However you may post the amount in the desired Fixed Asset account. To do so, follow the steps given below: – 1. Go to Master -> Stock Master.2. Edit the item of Fixed Asset (e.g. Air Conditioner) (in Stock Master).3.… Continue reading When we enter Purchase of Fixed Assets (e.g. Air Conditioner) through GST Docs, the amount is posted in “Purchase Local xx%” account. However it should be debited to “Air Conditioner” account. How can we resolve this issue ?
We want to make provision for Audit Fee as on 31st March. However we shall get the bill for Audit Fee (Rs. 10,000 + GST 18% = 11,800/-) after 31st March. How should we pass the entries ?
1. You should make a provision of Audit Fee of Rs. 10,000/- on 31st March by passing the following entry under Transaction Type ‘T’ : – Audit Fee : Dr. 10,000/-Audit Fee Payable : Cr. 10,000/- Note: When you pass the entry in trn. type ‘T’, it does not go in GST Return. 2. When… Continue reading We want to make provision for Audit Fee as on 31st March. However we shall get the bill for Audit Fee (Rs. 10,000 + GST 18% = 11,800/-) after 31st March. How should we pass the entries ?
We have sold our old car for Rs. 3,00,000/-. The written down value of the said car is Rs. 2,50,000/-. We are supposed to pay GST on Rs. 50,000/- @ 18%. How should we pass the voucher entry ?
To pass this entry through GST Docs, you need to open two stock items in stock master, namely: –1. Used Car (Sale)2. Used Car (Profit Element) In GST info window, check the “Advanced Columns” check box and mention the Car account in the column “Outward Supplies / Sale A/c Head” against both the above items.… Continue reading We have sold our old car for Rs. 3,00,000/-. The written down value of the said car is Rs. 2,50,000/-. We are supposed to pay GST on Rs. 50,000/- @ 18%. How should we pass the voucher entry ?
We are issuing a credit note in respect of “Rebate and Discount”. We do not want to reverse GST charged. How can we do so ?
GST cannot be refunded if there is no agreement at the time of issuing Invoice. If you want to allow discount without adjusting GST, then follow the steps given below: – METHOD-1: – 1. Go to Voucher.2. Click on “Add” and enter “CN” as Trn.Type.3. Enter date / party and amount.4. Select the account head,… Continue reading We are issuing a credit note in respect of “Rebate and Discount”. We do not want to reverse GST charged. How can we do so ?
Please explain the conecpt of TCS under GST Act. How do we handle TCS collected by e-commerce operators in Visual Catpro ?
E-Commerce operators are required to collect IGST @ 1% or CGST / SGST @ 0.5% each w.e.f. 01/10/2018. The amount collected during a month shall be deposited by the e-commerce operator to the department by the 7th of next month. Once the amount is deposited by the e-commerce operator, you can see the details on… Continue reading Please explain the conecpt of TCS under GST Act. How do we handle TCS collected by e-commerce operators in Visual Catpro ?
Our Firm has become proprietorship concern after death of one of the partners. We want to continue the same set of books but our GSTIN has changed. How can we resolve this situation ?
Step-by-step guidelines to change GSTIN w.e.f. a particular date are as under: – 1. Go to Firm Setup.2. Click on “Regn. Nos.” button.3. Click on “…” button appearing against Dealer Type combo box.4. A grid to give dealer type details shall appear.5. You may now give from and upto date for different GSTINs of your… Continue reading Our Firm has become proprietorship concern after death of one of the partners. We want to continue the same set of books but our GSTIN has changed. How can we resolve this situation ?
If payment is not made within 180 days from the date of Invoice, we are required to reverse ITC availed. How can we print a list of payments not made within 180 days ?
You may print ITC Reversal (180 Days) report by clicking on GST Docs -> Reports -> ITC Reversal (180 Days) Report. This report should be printed for each month and liability should be accounted for in GSTR-3B.