Anonymous
04 December 2009 at 16:41
RESPECTED SIR
I have a query regarding sales tax. Assesse is registered dealer under M.P. Commercial Tax 1994 and consequently automatically registered in VAT act 2002 and deals in motor vehicle since date of registration. During the accounting period from 1-4-06 to 31-3-2007 dealer has sold second hand motor car duly tax paid(commercial tax)Assessee has purchased these vehicle after full rate of tax and shown as assets used in the business and consequently did not claimed input tax rebate on such purchase.As per entry no. 9 part iii assessee is liable for payment of tax @1.5% where as ACCT wrongly imposed tax @12.5%. In the first instant ld. ACCT imposed double taxation on tax paid purchase(sold during the year)_ and consequently also charged interest under sec 18(4)(a) and imposed penalty. are there any case laws/notification in sales tax act/vat in our support?kindly reply as quickly as possible
Sanjay Sharma
04 December 2009 at 12:53
Dear Experts,
As per the provision of section 64, service tax is not applicable to the State of Jammu and Kashmir, but, if a person from the State of Jammu and Kashmir is rendering taxable service in any part of India, then Service Tax is payable. However, in such case service provider will not be able to discharge the service tax liability, as such person has no place of business other than the state of Jammu and Kashmir. Is there any provision in this regards to discharge the service tax liability . pls clarify.
Regards
Sanjays Sharma
karunakumar
04 December 2009 at 11:57
XYZ is a public charitable trust.It is run by sadhus who has dedicated their life for social cause and well being of society and spread of their religion..
The said trust runs schools at different states of India. It collects fee to the tune of Rs 1,00,000/- for proving all facilities to students( Boarding & Lodging).
It has excess of expenditure over income in the past 10 assesement years..to establish new branches the trust purchases land at different places.
the question lies where at what price the land should be brought into books of account.the stamp duty value is Rs 1,00,000/- where the price to be paid is Rs 10,00,000/-.
If the amount agreed is to be paid then out of what resources the trust should pay such amount...the trust receive donations voluntarily from general public and devotees.
Anonymous
02 December 2009 at 20:55
what is the procedure for the service tax no and upto what amount no need of service tax no
jay
02 December 2009 at 20:27
The dealer deals in sales only Fish in local Gujarat and also Exports out side country. Fish is a tax free item under vat law applicable in Gujarat.So the dealer is not liable to pay vat tax.
Dealer purchases packing material from local dealers in gujarat and the purchase of packing material is tax paid. The vat rate is 4+1=5% vat paid by the dealer on packing material purchase and tax invoice received by the dealer.
I want to know that Can dealer claim input vat credit paid on packing material purchase in vat return?.if yes which section is applicable under the vat act in Gujarat.and can dealer claim refund of input vat from vat department.
Pradeep Dhruva
01 December 2009 at 15:39
detailed question is given in the file attached.
pl. help me in the problem.
sanjiv batra
01 December 2009 at 12:23
A COMPANY IS HAVING APP. RS.5, 00,000/- UNDER IDBI INVESTMENT DEPOSIT ACCOUNT SCHEME’ 1986 U/S 32AB OF THE INCOME TAX ACT. 1961. PLEASE CLARIFY THAT:-
A) IF IT WITHDRAWS THIS MONEY FROM IDBI BANK & CLOSE THIS ACCOUNT. WILL THIS WITHDRAWL BE TAXABLE?
B) CAN IT WITHDRAW NOW THIS MONEY FROM IDBI BANK FOR PURCHASE OF PLANT AND MACHINERY UNDER THIS SCHEME OR NOT & WILL TAX NOT BE PAYABLE, SINCE USED FOR SPECIFIC PURPOSE?
THANKS
SANJIV BATRA
hussain
30 November 2009 at 16:44
Sir,
There is any latesh order by Supreme court for share application (Devine Leasing)
Srimanta Ghosh
30 November 2009 at 12:07
What is the VAT rate of Stone Chips & Coal Chelly in Jharkhand ?
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any special provision for NRI to became Director of company
Our client has made a Company in 2007. There are only two directors in the Company both are Indian but for last 5 years having taken the green card at Malashia and residing there. At the time of incorporation of the Company , they have disclosed their status as resident and not NRI.
After that, they have purchased the Agriculture Land in India and payment have come through NRI A/c in foreign currency and except this, there are no activity in the Company.
Now we have to do the Audit and prepare the ROC record of the Company, pls inform us that
1. whether there is any requirement to obtain the permission from the RBI to transfer and invest the amount into India.
2. Whether NRI can become the director of the Company without any permission or there is any requirement to obtain the permission to Incorporate the Company in india or not.
Waiting for the reply