Anonymous
25 November 2011 at 13:21
One of my client is a private limited company registered under service tax on freight charges payable.
However, the GTA has collected service tax on the freight charges paid by the company.
Whether the company is liabile to pay service tax on those bills if it is liable, whether the service tax collected by the GTA can be claimed as input credit. Then the liablitiy will be Nil.
Kindly clarify.
Yours truly
P. Srinivasa
Anonymous
25 November 2011 at 12:54
Sir,
My question is regarding Online Business. My friend is a manufacturer of a new brand of tablet PC's. Most of his sales are online through online shopping websites. He is based in Chennai and sends his goods to all over India from Chennai charging the local Tamil Nadu VAT on the same on his auditor's advice. I am based in Bangalore. What we intend to do is to identify few computer shops in Bangalore and ask them to store (not buy) our products (perhaps as bailee?). We will list their addresses on our website. Thus, customers in Bangalore can approach these shops and buy our products and the bill will be generated online in the name of the company based in Chennai charging TN VAT (as though the sale is made online). The bill is not made in the shopkeeper's name and hence Karnataka VAT wont be applied. We will have a contract signed to that effect with the shopkeeper in the relationship of pincipal-agent. My question is, is such an agreement valid? Will the auditors be satisfied if we show them the agreement when he asks for the invoice for our products kept in the shop saying that these products are not bought by him but only stored for commission? Will the local tax officer raise an issue saying we are avoiding local tax although we are not billing locally?
Thanks much!
Anonymous
24 November 2011 at 09:15
A plot was purchased in 1960 and ground floor of about 1500 SFT built over it. Again upstairs of about 1600 SFT built in 1980. If the property is supposed to be sold what would be reasonable fair cost of the property for capital gain purpose?
visu
23 November 2011 at 23:29
An advertisement client has service tax liability over few lacs of rupees, over 9 months Since Apr 2011
But
He has no cash outflow and could not pay the accumulated payment.
Because of this, he has also not filed the return declaring the total receipts in ST-3.
Pl advise the status and consequence.
a) Can he claim SAMADHAN..
b) Can he get waiver of interest.
prem butola
23 November 2011 at 16:57
sir,
we export our final products under Rule-18
after proof of export geting we field Rebate claims . but some ARE-2s has missed in this condition Excise authority refused to releas our rebate calim.is it correct pl. help so that we can release our rebate claim form excise.
in some cases in original copy of ARE-2s are signed by custom Authority but same of duplicate copy are not signed due to mistankenly. in the same condition after fieling the rebate calim excise authority refuse . what type of document we provide them for releasing the refund while we already submit to excise dept. ARE-2 , S.bill, B.L.etc
Thanks & Reg.
Prem
09568006816
Anonymous
23 November 2011 at 10:30
Dear experts,
we receive around 200gms of jwellery from my mother's father as a gift.What are the tax implications of it?
Anonymous
23 November 2011 at 09:39
A private organisation employees member of Provident Fund Open a separate PPF account (Pubic Provident Fund). If he open PPf Account he show PPF Deposit account Money for Income tax purpose.
Anonymous
22 November 2011 at 15:56
I am a manufacturer in Chennai. We have received a Notice from the DCTO for reversal of input tax credit since 2006-07 for interstate sales made without Form C. Since we are a manufacturer, please let me know what is the formula for calculating the reversal of Input Tax Credit as we cannot identify which purchase bill is used for which product since we manufacture the goods. Is there any standard formula that TNVAT prescribes ? The DCTO claims that we have to pay 12.5% of the total Interstate bills made by us. But this looks unfair. Please help with your answer.
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Custom duty calcultation
Sir / Madam
What will be the total amount for custom duty, If I import a used machine for 24000 Euro (Exchange Rate: 1 Euro is equal to INR 69.80/-), Insurance Charges@1.125%, Weight of the machine is 31120 Kgs.
Please reply earlier.