Based on the details provided, here are a few points regarding claiming GST refund on export of goods and services without payment of tax using a credit advice:

- A credit advice by itself may not be considered as sufficient proof for claiming refund. Typically, documentary evidence like export invoices, shipping bills, bank realizations, etc are required.

- However, the credit advice would contain details like advice/reference number, invoice numbers, invoice amounts, tax amounts, etc. These details would need to be provided in the refund excel utility.

- The advice/reference number of the credit advice should be mentioned in the "BRC/FIRC No." column of the utility. This links the tax payment details with the export invoices.

- Along with the credit advice details, other documents like export invoices, shipping bills, bank statements showing realization of export proceeds, reconcilation statements, etc. would also need to be provided to establish the validity of the refund claim.

So in summary, while the credit advice alone may not suffice, the details in it would need to be provided in the refund claim utility. The advice/reference number acts as a link between the tax credits and exports. Additional documents would further substantiate the refund eligibility.

If a company exports goods and services under bond/LUT without payment of IGST, the credit available at the time of procuring of goods and services remains unutilized and idle in their Electronic Credit Ledger account. In such a case, the company can file a refund claim of goods and services exported under LUT without payment of IGST 1. The formula for calculating the refund amount is as follows:

Refund Amount = (Turnover of zero-rated supply of goods + Turnover of zero-rated supply of services) x Net ITC ÷ Adjusted Total Turnover 2.

It should be noted that no refund of unutilized Input Tax Credit is allowed in cases where the goods exported out of India are subjected to export duty .
All the details relating to GST on export is clearly mention in the shipping bills and it will populate in GST portal under refund.(BRC/FIRC column of excel utility).

I hope this helps!

You can file revised return if assessment is not completed.
If you have any clarification check with your CA or call to us 7338838605/ kna3350@gmail.com for further assistance.

For professional help regarding capital gain taxation , reach to us @ www.tarungauptaca.com.

Since you have not utilized the amount for construction you can pay tax and get letter from your Assessing officer you have paid the tax then bank will allow you to withdraw the amount from GCTS.
If you require further clarification check with your CA or call to us 7338838605 or kna3350@gmail.com

You can go for option 2 provided the plot was purchased 3 Years back and another advantage since you are borrowing from your sister without interest. The gold loan Interest is not allowed as expenses under income tax act.
If you require further assistance check with CA's or contact with us 7338838605/kna3350@gmail.com.

1. Integrated Goods and Services Tax or IGST
The Integrated Goods and Services Tax or IGST is a tax under the GST regime that is applied on the interstate (between 2 states) supply of goods and/or services as well as on imports and exports.

The IGST is governed by the IGST Act. Under IGST, the body responsible for collecting the taxes is the Central Government. After the collection of taxes, it is further divided among the respective states by the Central Government.

For instance, if a trader from West Bengal has sold goods to a customer in Karnataka worth Rs.5,000, then IGST will be applicable as the transaction is an interstate transaction. If the rate of GST charged on the goods is 18%, the trader will charge Rs.5,900 for the goods. The IGST collected is Rs.900, which will be going to the Central Government.

Income tax act allows to claim pre-construction interest only after the construction is completed in 5 equal installments. Also only interest component can be claimed as deduction on completion of construction.

You can claim tax exemption from a loan against property if the loan amount is utilised for business purposes. In such cases, benefits can be claimed against interest paid and associated fees and charges incurred. These payables can be claimed as business expenses under Section 37(1) of the Indian Income Tax Act.

If the top-up loan is utilized to buy or build a new home, both the principal and interest components are tax-deductible under Sections 80C and 24. (b). However, if the funds are utilized for residential property renovation, alteration, or repair, the deduction can only be claimed for the interest component. For more professional consultancy , reach us @ www.tarunguptaca.com or call at 9216216819

Dear Mehulkumar,
You can avail the benefit of top-up loan at the time of filing of return .
For further Assistance you can reproach us on ca.rahuldwivedi@gmail.com or 9004485377

basic salay 40000,HRA20000 , EDUCATION ALLOWANCE 2400 TRANSPORT ALLOWANCE 1600 SPECIAL ALLOWACE 1000

yes can registerFOR THOSE NEED HELP OR ASSISTANCE IN MSME REGISTRATION
For those need assistance or HELP to register in MSME kindly use Syrphyy சிற்பி . They will help you for register and follow up the process till the happy end of getting MSME certificate and save your time.

Syrphyy சிற்பி introduced first time in the world Door step services in Tax Business caring. They have Tax pilots who are giving Door step services (Selected areas) or Face2Face services in real time with screen sharing.

My 2 clients were got this certificate through Face2Face services in Syrphyy சிற்பி. Many other service providers also there in market so kindly use their services also.

FOR NEW MICRO BUSINESS, DIGITAL MARKETERS, FREELANCERS WHO ARE NOT REGISTERED YET AS MSME
New Digital marketers, Freelancers need to click the button “For New Entrepreneurs who are not Registered yet as MSME” shown on the home page for registering MSME. New registration of MSME is done by entering the Aadhaar card number in the following two ways-

• Registration With PAN Card or

• Registration Without PAN Card

REGISTRATION WITH PAN CARD:
When clicked on the “For New Entrepreneurs who are not Registered yet as MSME” button on the homepage of the udyam portal, it opens the page for registration and asks to enter the Aadhaar number and the name of the entrepreneur.

After entering these details, “Validate and Generate OTP Button” is to be clicked. Once, this button is clicked and OTP is to be received and entered, then PAN Verification page opens.

If you have PAN Card, the portal gets the PAN details from the Income tax databases and automatically fills details on this page. The ITR details are to be filled by you.


Once PAN details are entered, a message appears as “Udyam Registration has already been done through this PAN” and you need to click the “Validate PAN” button.


After verification of PAN, the Udyam Registration box will be appeared and you need to fill the personal details and details of the plant or industry.


Once the details are filled, click the “Submit and Get Final OTP” button and enter the OTP.

That’s all your MSME is registered and a message of successful registration with reference number will be appeared.

After verification of registration, which may take a few days, the Udyam Registration Certificate is to be issued.

REGISTRATION WITHOUT PAN CARD:
The button “For New Entrepreneurs who are not Registered yet as MSME” is to be clicked on the homepage of the Udyam portal.

It opens the page for registration and asks to enter the Aadhaar number and the name of the entrepreneur.

After entering these details, “Validate and Generate OTP Button” is to be clicked.

Once, this button is clicked and OTP is to be received and entered, then PAN Verification page opens.

If the entrepreneur does not have a PAN Card, the “No” option under the heading “Do you have PAN?” is to be clicked and then the “Next” button.


After the “Next” button is clicked, the Udyam Registration page opens where the entrepreneur should enter his personal details and plant or industry details.


Once the details are filled, “Final Submit” is to be clicked and a thank you message will appear with the registration number.

Note: After getting the PAN and GSTIN, it needs to be updated on the portal within 01/04/2021 to avoid suspension of Udyam Registration.

REGISTRATION FOR MICRO BUSINESS, ENTREPRENEURS ALREADY HAVING EM-II OR UAM:
For those already having registration as EM-II or UAM, they need to click the button “For those having registration as EM-II or UAM” or “For those having registration as EM-II or UAM through Assisted filing” shown on the home page of the Udyam portal.

This will open a page where Udyog Aadhaar Number is to be entered and an OTP option should be selected.

The options provided are to obtain OTP on mobile as filled in UAM or obtain OTP on email as filled UAM.

After choosing the OTP Options, “Validate and Generate OTP” is to be clicked.

After entering OTP, registration details are to be filled and udyam registration will be completed.


BENEFITS OF MSME REGISTRATION
1. The bank loans become cheaper as the interest rate is 1 to 1.5% lower than interest rate on regular loans due to this MSME registration.

2. It also allowed credit of minimum alternate tax (MAT) to be carried forward up to 15 years instead of 10 years

3. Getting rebate in registration fees of patent, or the cost of setting up the industry reduces as many rebates and concessions are available.

4. It helps to acquire government tenders easily because Udyam Registration Portal is integrated with Government e-Marketplace and various other State Government portals which give easy access to their marketplace and e-tenders.

5. There is a One Time Settlement Fee for non-paid amounts of MSME.

INFORMATION REQUIRED FOR MSME REGISTRATION FOR MICRO BUSINESS
Aadhaar Card is the only document required for MSME registration. PAN & GSTN numbers are optional.

Investment and turnover of enterprises will be taken automatically by the Udyam Registration Portal from Income tax and GST databases with PAN and GSTIN numbers.

The Udyam Registration Portal is fully integrated with Income Tax and GSTIN systems. PAN and GSTIN number are mandatory from 01.04.2021 for registration.

Without PAN and GSTIN numbers MSME Registration can be done now. But both numbers have to be updated for avoiding suspension of registration.

Those who have EM-II or UAM registration or any other registration issued by any authority under the Ministry of MSME, will have to re-register themselves in this Portal (as stated in the Registration Process heading above)

MSME SCHEMES LAUNCHED FOR MICRO BUSINESS BY THE GOVERNMENT ARE
Technology and Quality Upgradation Scheme:

It will help to the micro, small and medium enterprises to use energy efficient technologies (EETs) in manufacturing units so as to reduce the cost of production and adopt a clean development mechanism.

Grievance Monitoring System:

Business owners complaints are addressed with solution. They can check the status of their complaints, open them if they are not satisfied with the outcome.

Incubation:

This scheme helps innovators for implementation of their new design, ideas or products. This scheme provides financial assistance for setting up ‘Business Incubators’ and promotes new ideas, designs, products etc.

Credit Linked Capital Subsidy Scheme:

New technology is provided to the business owners to replace their old and obsolete technology under this scheme,. A capital subsidy is given to the business to upgrade and have better means to do their business. These small, micro and medium enterprises can directly approach the banks for these subsidies.

FREQUENTLY ASKED QUESTIONS (FAQ)
Is MSME updated to Udyam Registration?

Yes, Udyam Registration is updated version of the MSME registration. If any micro, small and medium industries want to start any business; they need to do the registration with MSME/Udyam Registration through online.

Is Aadhar card compulsory?

Yes. Aadhaar card is compulsory for Udyam registration. In case an applicant is other than the proprietor, the Aadhaar card of the partner and the director will be required.

Can existing and new micro businesses both apply?

Yes, an existing and new business can apply for MSME/Udyam Registration, provided the existing unit is functioning and meets the threshold limits for registration. UAM Registration has to be re-registered for Udyam registration to avail the benefits of MSME.

What is the validity of the certificate?

There is no expiry of the Certificate. As long as the entity is ethical and financially healthy there will be no expiry of the Udyam Registration.

Can trading companies register under MSME?

Yes. It also covers trading, manufacturing and service industries. Trading companies are just like middlemen between manufacturer and customer. They also covered under the scheme with effect from July 2021 by govt of India due to this pandemic situation Covid19.

Do I need multiple registrations for manufacturing plants in different cities ?

No. The MSME/Udyam Registration Certificate is for a single entity irrespective of multiple branches or plants. However, information about multiple branches or plants must be furnished.

Syrphyy Venkatesh
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not required to file GST return if you not have the ragistration in GST and not required to file any other return other than income tax return.

Thank you boss. You made my day.

The registration is requires if is exceeds Rs.20 lacs only