GST Question for Today:- Mr. Manjot Singh Sidhu is a trader supplying goods from his firm M/s. Singh Traders. The office of the firm is located in Delhi whereas the godowns are located in the State of Uttar Pradesh, Punjab and Jammu & Kashmir (J & K).
M/s. Singh Traders made intra-State supplies from different States during the period from 1-Jul-2022 to 31-March-2023 as follows
(i) Delhi-Taxable supplies: Rs. 21,00,000/-.
(ii) Punjab–Exempted supplies: Rs. 6,00,000/-.
(iii) Uttar Pradesh–Taxable and exempted supplies: Rs. 3,00,000/- each respectively.
(iv) J & K–Taxable and exempted supplies: Rs. 8,00,000/- and Rs. 3,00,000/- respectively.

Being a GST expert, Mr. Manjot Singh Sidhu seeks your advice to correctly ascertain the States in which he is required to take registration under GST:
a) Delhi, Punjab, Uttar Pradesh and J & K
b) Delhi, Uttar Pradesh and J & K
c) Delhi and Uttar Pradesh
d) Delhi

The correct answer to above question would be (B). Since Punjab is exclusively engaged in making exempt supplies, it shall not be required to take any registration as per Sec 23. Remaining branches have to mandatorily get registration since ATO exceeds threshold limit

GST Question for Today:- Mr. Ram has just started his operations of selling footwear on 1st April 2023 in Haryana. His aggregate turnover during FY 2023-24 upto 31st October 2023 is just Rs. 15 lacs. Inspired by the growth of e-commerce in India, he registered himself with Flipkart (an electronic commerce operator) and sold goods worth Rs. 1,50,000 from Flipkart on 15th November 2023. On 1st December 2023, he made further supply of goods amounting to Rs. 6,00,000. He is confused about taxability under GST law. Which of the following is true about his GST liability and compliance:-

a) He is not required to get registration since threshold limit is Rs. 40 lacs in Haryana
b) He becomes liable to get registration on 1st December 2023 since the applicable threshold limit is Rs. 20 lacs which was crossed on 1st December 2023.
c) He becomes liable to get registration on 1st April 2023 i.e. date on which his business operations were started
d) He becomes liable to get registration on 15th November 2023 i.e. date on which he makes supply of goods through Flipkart

The correct answer to above question would be (D). Any person who is making supply of goods through ECO has to mandatorily get registered under GST as per Sec 24

Income Tax Question for Today:- Mr. Vikas took a loan of Rs. 15,00,000 @10% p.a. on 1-4-2020 for the construction of residential house for self-occupation. The construction of the house began in June, 2020 and was completed on 30-6-2022. He has not repaid any amount of loan so far. The amount of interest deduction u/s 24(b) for A.Y. 2023-24 is –
(a) Rs. 1,50,000
(b) Rs. 1,80,000
(c) Rs. 2,00,000
(d) Rs. 2,10,000

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GST Question for Today:- Mr. X (whose aggregate turnover in preceeding FY exceeds Rs. 5 Crore) has an output tax liability of Rs. 1,00,000 for the month of April 2023. He has also claimed ITC of Rs. 60,000 for the same month. Mr. X filed his GSTR-3B on 2nd June 2023 and discharged the remaining Rs. 40,000 through cash ledger. Which of the following statements is true with regard to interest u/s 50
a) Interest is charged @18% on Rs. 40,000 from 21st May till 2nd June
b) Interest is charged @18% on Rs. 1,00,000 from 21st May till 2nd June
c) Interest is charged @18% on Rs. 40,000 from 1st May till 2nd June
d) Interest is charged @18% on Rs. 1,00,000 from 1st May till 2nd June

Important questions List
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