Anonymous
10 September 2011 at 15:04
WE ARE PURCHASE THE RAW MATERILS FOR OUR MANUFACTURING PROCESS LOCALY IN WEST BENGAL THROUGH LOCAL TRANSPORTER. AT THE TIME OF ASSESSMENT UNDER VAT ACT THE CONCERNED OFFICER ARE DISALLOW THE CREDIT OF THE PURCHASE VAT (INPUT VAT) DUE TO NON AVAILABLE OF TRANSPORT DOCUMENTS LIKE CONSIGNEMENT NOTE. WE SUBMIT A SUBMISSION ALONG WITH THE TRANSPOTER'S BILL THAT DUE TO LOCAL PURCHASE WITHIN THE STATE THROUGH THE LOCAL LORRYWALA SO WE ARE NOT IN A POSITION TO SUBMIT THE CONSIGNMENT NOTE. WE PURCHASE THE MATRERIALS FROM THE PARTY CONCERN AS EX-WORKS BASIS. PLEASE HELP ME ALSO INDICATE THE CASE LAW IF ANY REGARDING THE MATTER THAT WITHOUT TRANSPORT DOCUMENTS THE INPUT VAT ARE NOT ALLOWED.
WITH REGARDS
AJOY
Anonymous
10 September 2011 at 14:51
WE ARE MANUFACURER OF C.I.CASTINGS OF DIFFERENT SIZE AND SHAPES. C. I. SCRAP GENERATED IN THE PROCESS IS CAPTIVELY CONSUMED BY US BY ISSUEING ISSUE SLIPS. IS IT THE RIGHT PROCESS. PLEASE HELP. WHERE AS OUR EXCISE DEPARTMENT DEMAND ISSUE OF INVOICES AT THE TIME OF ISSUE OF C.I.SCRAP WHICH IS GENERATED AT THE TIME OF PROCESSING. ALSO THEY CHARGED THE DUTY AMOUNT ALONGWITH INTEREST ON US ON THE QUANTITY OF SCRAP USE BY US IN THE YEAR 2008/2009 AND 2010. IF THERE IS ANY CASE LAW REGARDING THIS MATTER PLEASE INFROM ME.
WITH REGARDS
AJOY
upasna
10 September 2011 at 14:49
Dear sir,
I would like to know that if money huge amount of money is borrowed and lended by the relatives from each other at the time of wedding, then does it come under the money lending act???
n v sudhakar
10 September 2011 at 13:49
A partnership firm is running for the last 7 years. The firm got business income and lease income. In FY 2010-11 there is not much of a business and the partners are also not interested in continuing the business. But they would not like to close the firm since they are getting some lease income from the building owned by the firm. One of the partnership deed clause is as follows:
"THE PARTNERS SHALL BE ENTITLED TO INTEREST AT 12% PER ANNUM ON CAPITAL INVESTED BY THEM IN THE FIRM. HOWEVER, THE SAME MAY BE WAIVED BY ANY PARTNER, IF HE DESIRES NOT TO CHARGE ANY INTEREST FOR ANY PERIOD"
Basing on the above
1. is it obligatory on the part of the firm to provide interest on capital?
2. Out of 2 partners, one partner is only interested in getting interest because of his obligations where as the other partners they are not interested in getting interest on capital since there is no business income to the firm.
3. Can we work out interest to only one partner basing on the above clause or is it necessary to provide interest to all the partners?
Kindly clarify the above points.
Thanks
N V Sudhakar
Anonymous
10 September 2011 at 11:25
I want to surrender my Service Tax code due to not carrying on the business.I have never any income.I have not filed any Return.Whether penalty is applicable.
Anonymous
09 September 2011 at 15:13
R/s,
A transport company is engaged by a company to supply of "fly ash" from power house to company's site.
Is there is any exemption of service tax ?
Anonymous
09 September 2011 at 13:13
sir but we do it only for drinking water in schools and other govt. departments. is this work comes under this service?
sanjiv batra
09 September 2011 at 10:01
QUESTION: ONE CONSIGNOR SENDS THE CONSIGNMENT TO A SINGLE CONSIGNEE AND PAY FREIGHT AMOUNT Rs. 1,300/- FOR FULL TRUCK.
WILL SERVICE TAX BE PAYABLE ON THIS TRANSACTION OR THIS TRANSACTION IS EXEMPT, SINCE AMOUNT PAID IS LESS THAN Rs. 1,500/- FOR FULL TRUCK.
Anonymous
09 September 2011 at 09:47
Situation – Reimbursement of travel expenses to an investment banker from Netherland visited our office in India. It’s a foreign remittance. They don’t have a permanent establishment in India.
They don’t have a PAN in India and they have Avoidance of Double Taxation Certification. Is it require to deduct TDS (20%) on this payment. Kindly clarify Thanks
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Site formation service
whethe boring comes under the service of site formation service. if no then any case law related to that. we do this only to provide drinking water to schools and some govt. departments.