Ques: A director of private Limited Company had resigned from the company in December 2019 but by mistake it was not updated in GST portal till now. What is the penalty for it?

Ans: If he is managing director or authorised signatory then a penalty of 25k will be there, else not required

Ques: A Private Limited Company guaranteed the loan amount of another Pvt. Ltd. Company by providing its land as a collateral security to Bank.
In this case the loan amount is Rs. 20 Crore & land value is Rs. 5 Crore. Is this being a case of corporate guarantee? If yes, value of corporate guarantee will be calculated by 1% of Rs. 20 Crore or Rs. 5 Crore?

Ans: Yes it’s corporate guarantee and value will be based on loan amount

Ques: In a Matter, Business Turnover during FY 2022-23 was more tahn Rs. 5 Cr hence he started issuing e-invouce during FY 2023-24. Now During FY 2023-24 his turnover has reduced to Rs. 3 Crore. Now the question is whether he is still liable to issue the E-invoice ?? And what shall be the situation if his turnover gets continuously reducing in future years also. Upto which year he shall be required to issue e-invoice ?

Ans: E-invoice is applicable even if his turnover is less than 5cr in upcoming F.Y.’s.