Sathish
09 September 2012 at 20:12
Hi,
What is the VAT % (Tamil nadu) for BLOWER ASSY - AIR COND,FR suppling to car manufacturer (used in car)
kindly specify with commodity code
Regards
Sathish
Waquar
09 September 2012 at 15:21
Dear Sir/Madam,
We are 10 partners & leased a land of 110 acre in village planted "POPULAR TREE" & vegetables in that farm house & selling these vegetable in local market.The "POPULAR TREE" will be of 100 lacs afters five years that would be sold to the market. Is profit will be taxable in nature or exempt.
Please clarify how is it taxable or exempt with example.
Will be thankful.
Will be waiting for the prompt response.
Thanks & Regards in advance.
Amol Ashok Baviskar
09 September 2012 at 14:36
Dear Mr.Shah,
Good afternoon,
Thanks for your reply,
This is Amol Baviskar from auarangabad,
Yesterday i had post query regarding service tax & vat but there is confusion in your understading,Pl. read details as mention below.
I had purchsed new flat from a builder but we was not make sale deed or agreement of sale.At time of possesion we made registry on 31st may 2012.That flat is not having furniture & not having building completion certificate.
Cost of that flat is 1850000/- but we made registry for 1100000/-onyl.Now builder charged 3.20 % service tax & 1 % vat on 1100000/-
Pl. confirm is it applicable in this case or not applicable.
If it is applicable,which name required on on tax paid receipt?
Because he confirm to "you will get receipt in the name of bulider"
Is it true?
Also tell me how can i reply to your message?
Amol Ashok Baviskar
08 September 2012 at 14:16
I had purchased new flat in auarangabad (maharashtra) at beed by pass area.
Registry amount for flat is 1100000/-
Builder has charged me 3.10% service tax & 1% vat on total regirty value.
Note note that we don't make agreement of sale or any type of document the time of booking.Directly make a registry.
Pl. confirm service tax & vat is applicable ot not applicable.
If it is applicable,name on the receipt is bulider or owner.
Asha
08 September 2012 at 13:09
Dear All,
My client is paying towing charges to one of the company.And that company is raising bill with service tax with 12.36%
My question is
1)Whether towing charges & transportation charges both are same?
2)If towing charges is liable for service tax then under which service category they have registered?
Thanks
GAURAV
08 September 2012 at 06:04
My Grand father has given Rs. one lacs to me by cheque from his a/c and the same has deposited in my a/c. Whether any Gift tax or Income Tax is applicable on me for this amount?
P.Parthasarathi
07 September 2012 at 18:53
My client is a charitable trust having registered u/s 12A of It Act.Its only source of revenue is donations from various organisations and individuals. During the previous year relevant to asst. year 2010-11 it made some expenses in cash exceeding Rs.20,000/-. The AO questioned in scrutiny assessment why they are not to be disallowed in terms of sec. 40A(3). In my opinion, since the trust is not a business concern the income, even in the absence of 12A, is not be charged to tax u/s 28 --if at all it is to be charged it should be only under the head Other Sources in terms of sec. 56. In that case sec. 40A(3) is not applicable to this case. Kindly confirm and please quote any citations in this regard.
pooja dedhia
07 September 2012 at 16:03
how to do the accounting in the following case?
ABC has taken a flat for L & L for the 3 years . He has made the THE Furniture & fixture of Rs.15 lacs in the rented premises.
in such case , when L & L is expired some of the fixed assets are useful which can be move to other place & used,but some are not useful as it is fixed to the floor.
how to show in the book of accounts?
Dayal R Kundani
07 September 2012 at 13:20
Agricultural implement is exempted from Entry Tax.
Wish to seek clarification on the "Agricultural Pump Sets" which are falling under the head of Agricultural implement.
The pumps are sold through distributors and dealers and are not directly sold to the end customer
Under such circumstances whether the exemption is not available to the Dealer who brings in such pumps for further sale in the state.
Objections are being raised that exemption is available only when they are sold to farmers directly, which in a normal trade scenario is difficult to have sales depots to cater to such individual farmers.
Request clarification to address the matter.
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Service tax under reverse charge
Ours is partnership firm. We transport goods by vehicles to other cities within state. They do not give any consignment note and we pay the freight charges through our vouchers.Charges vary from Rs2000 to 4000. Do we have to pay service tax and how much? Please clarify.