Q. 309 As per notification 05/2022, RCM is applicable on renting of residential of residential dwelling by any person to registered person for any purpose. So how to determine status of property whether it is residential or commercial. Facts of the case:- Property ownership documents depicts that it is a residential property and No Change of land use(CLU) has been taken by the client. But property tax proof depicts that it is a commercial property and even electricity meters are also taken as a commercial property. Query:- Now whether it will be considered as a residential property or commercial property. Please c’larify.

Ans. It will be considered as commercial property.

Q. 308 sir i am issue a e invoice it has been made that something has gone wrong and and more than 24 hours have passed, what we can do now ?

Ans. Sir, no option is available. You can only raise credit note.

Q. 307 MY CLIENT IS REGISTERED UNDER COMPOSITION LEVY FOR F Y 2021-22. HOWEVER DURING 4TH QTR, HIS TURNOVER HAS BEEN EXCEEDED BY 1.5CR. EVEN AFTER FILLING CMP-08 REFLECTING EXCEEDED THERESHOULD LIMIT, THE PORTAL IS NOT ALLOWING TO FILE THE FORM CMP-04. PLEASE GUIDE IN THIS REGARD.

Ans. As per notification dated 01.01.2018, turnover in case of traders has been defined as ‘Turnover of taxable supplies of goods”. GST CMP-04 has to be filed within 7 days from the date on which the taxpayer plan to opt out of Composition Scheme or is ineligible to be covered in the scheme.

However if you have applied for Cmp-04 within 7 days and if the portal is not allowing then you have to file a grievance on the GST portal.