Regarding construction

If you are a builder you should have deposited the choice of rate by 20 may and if you don't give any letter to Department you would autonaautomatbe considered under lower rate and in that case you need to reverse the credit in the same month in which you were not eligible for credit if you don't do that you'll have to pay interest also.

If you have received advance you have to pay GST on same you can't wait till occupancy certificate.

Yes you can show 30% presumptive taxation.

It depends on why you had selected ITR 3 in previous year and now why are you selecting ITR 4.

If he cancelled his registration in September then before cancelling and filling final return he should have filed annual return.

Sir you have asked too many questions and we are professional and not 24 hour help line number and taxfull is just a website it does not have any employees who give you service we professional people give you service so if you are in a hurry it would be better if you hire a professional to answer all your query or have a phone consultation.

Hope you find the information helpful if you do please rate it 5 and provide your valuable feedback for my improvement.

Thank you

Hello,

For real estate projects, if the option is not exercised in the form Annexure-IV, option to pay at new rates wef from 1st April would be deemed to have been exercised.

And you will have to reverse the ITC in GSTR-3B with any interest if due.

GST is to be paid as and when payment is received from the customer.

Excess ITC should be reveresed upto September's GSTR-3B otherwise it would be required to be reversed in cash with interest.

Yes you can declare 30% u/s. 44AD.

Yes, it would be covered under GST

You can change to ITR-4 if you are eligible to do so.

Yes, he will have to file annual return.

I hope this answer satisfies your requirement.

Regards,

CA Hunny Badlani

As such there is no due date you should have reverse it when you became ineligible if you haven't done it yet you have to reverse it along with interest.

Dear Sir,

Hope you are doing well !!

1. You will have to pay GST@5%.

2.You will have to reverse the ITC in GSTR 3B.

3.You will have to pay GST on each and every installments.

There is no due date for reverse excess ITC claimed.

Yes, you can show 30% tax under presumptive taxation scheme.

Yes,fees received under vocational training is comes under preview of gst. 

 Yes, you can file ITR 4 subject to conditions.

Yes, he will have to file annual return.

It is advisable to take a phone consultation for complete understanding.

Hi

The new rate 5% shall be deemed to be exercised. 

Reverse the ITC through GSTR 3B along with interest.

It is advisable to reverse latest by GSTR 3B for the month of September.

Yes, you can declare a higher profit under presumptive taxation scheme.

Once a registered person cancels registration, he is required to file FINAL RETURN in GSTR 10. 

Annual return shall not apply.

Yes, you can change ITR Forms according to the income in current year.

Since there are too many queries, it is advisable to group similar queries in one question and ask separate question for the other. Or you may consult someone personally.