Anwar
18 April 2013 at 15:02
I have online filled form 2A for the m/o July.12.in form 2A one purchase was mismatched due to seller clerical mistake
after some time seller make revised return for the m/o July.and mismatched has been correct.
but dvat department has issued assessment order to us .that your purchase does not matched (Showing particular entry )
please suggested me what can i do
N Suresh
18 April 2013 at 14:21
We find that Chapter Heading 71131910 of the Central Excise Tariff mentioned the basic rate of central excise duty as 12%.
We find that under Notification No.02/2011, dated 01.03.2011 (vide Sl.No.48 of the aforesaid notification), Government of India had notified the rate of central excise duty applicable to jewellery falling under Central Excise Chapter Heading 7113 19 10 as 6% ad veloram.
We find that there is yet another notification, namely, Notification No.12/2012, dated 17.3.2012 (vide Sl.No.199) which notified the rate of excise duty as 1%. There was a condition attached to the notification that no CENVAT credit will be available.
However, we find that on account of Section 138 of the Finance Act, 2012 which received the Presidential assent on 28th May, 2012, retrospectively with effect from 17.03.2012, Sl.No. 199 of Notification No. 12/2012, dated 17.3.2012 was amended. According to this amendment, the domestic rate of central excise duty became Nil rate. The condition pertaining to non availment of CENVAT credit was also removed. We sincerely understand that this change was brought about on account of representation given by domestic manufacturers and effective rate of central excise duty was made Nil rate. This is the final development.
To conclude, let us submit the contents of this email briefly, as given below:
Now, we are intending to start the import of Gold jewellery:
With regard to the applicable rate of countervailing duty, we find that though by Notification No.02/2011, dated 01.03.2011, the rate was notified at 6% (CENVAT being available to domestic manufacturers), the last development was the amendment brought about to Notification No.12/2012, dated 17.03.2012 by Section 138 of the Finance Act, 2012 which received the Presidential assent on 28th May, 2012, but made retrospective with effect from 17.3.2012. We sincerely believe that this notification notifying the effective rate of excise duty as Nil rate will apply to us.
But section 3 of the customs Act warns that when there are two duties available, whichever higher would be applicable.
Hence request your good office to kindly give us your valuable opinion on CVD applicable to us.
Thanks and Sincerely yours
N Suresh
Mobile 09840344175
Sajan Jacob
18 April 2013 at 14:17
Dear Sir,
My client is running a contracting firm in Bangalore. In 2012 13 FY he did an inertial work on labor contract of RS 50 lakhs for a bank in kerala.In the agreement they mentioned 60% material cost and 40% labor cost of the contract amount. The Bank didn’t deduct the Kerala VAT TDS because it is a labor contract. The bank paid 40 lakhs to the contractor for metrical purchase and labor charges the all payments and agreement made in bang lore. Manager in Kerala have no right to pay any amount to the contractor. But the Investigation officer of Kerala commercial taxes sends a notice to the bank for pay 10% VAT TDS from the contractor
My question is
(1) It is a labor contract and how can the officer ask the TDS (He told me that the bank paid 85% of the amount to the contractor for labor and purchasing of material so this will become a WCT. I replied him that The manger have no power to give any amount and he can’t purchase the material so they give the money to the contractor and he purchased in the name of bank
(2) If the amount paid the 10% TDS of the said work , the issue will finished or the file will go to the assessment officer for an assessment and the contractor liable to pay the tax with penalty
Kindly advice
sanjay sharma
17 April 2013 at 20:55
Dear All,
I just got into Exports and am a Export Merchant. I am purchasing goods from a manufacturer. The manufacturer has asked me to furnish CT 1, ARE 1 and Form H as pre order documents he needs> I have not got any registration with Excise department and not with CST. I dont have Excise and VAt Numbers.
My Query is :
Can I just download the form H from web and sign and send it to the Manufacture. or I have to have VAT number first and then I can do it.
Second...I dont have Excise number as well
what is the procedure to get CT 1 and ARE 1.
thirdly: is it mandatory for me to give the manufacturer all these documents.
Fourthly....he excise benefits will be availed by the manufacture...then in that case what all i need to provide him with.
Please advice..
regards
Sanjay Sharma
Manoj Kumar Karna
17 April 2013 at 16:49
Hi All,
Fact of the case-
One of my clients dealing in Spritual items i.e Yantra. Order has been received through telephone.Cost price of that product is suppose Rs.2500 all inclusive. Purchases cost of the said product is Rs.500 only.
We are adding 20 % of profit on cost of product i.e 600 and vat paying @ 14% on Rs.600.00. Balance Rs.1900(Rs.2500-Rs.600) is charging in Invoice as Pooja expenses receivable" Please advice if I am doing correct or not?
Thanks in advance
Manoj Karna
Sanjib Bhattacharya
17 April 2013 at 15:47
Charitable Trust which has been 12A and 80G I.T. Act 1961 Exempted charitable trust under the labour wages Act?
YOGESH KUMAR
17 April 2013 at 11:17
SERVICE TAX / INCOME TAX (TDS) QUERY:
1. A company in India is providing online technical support to customers in a foreign country. The company has a tie up with another company in a foreign country. All the calls for technical support are being attended by an Indian company and online support is also provided by Indian Company through their staff in India. The payment is being received by foreign company. Both the companies have enetered into agreement, whereby, the foreign company outsources the entire activity of online technical support to an Indian Company. The foreign company deducts a particular percentage of the entire collections as per the agreement, and remits the balance amount to the Indian company. Under these circumstances, there are following queries:
a) Is the Indian Company liable to pay any TDS for the amount being retained by a foreign company out of the total collections for technical support being provided by an Indian company? If yes, then at what rate? If no, then why no? Pls elaborate.
b) what will be the liability of an Indian Company, towards Service Tax? Whether service tax @ 12.36% should be calculated and deposited on the full value of the services, or after deducting the amount payable to the foreign company before TDS or after TDS? as the services are being provided from India.
Pls enlighten the undersigned with your suggestions / solutions to the above queries.
Thanks in advance.
Y KUMAR
Computers.bright@gmail.com
Manoj
17 April 2013 at 10:15
Dear Sir,
our HR Dept was Dedect my TDS with intemate to and also i have submite provisanal Loan Certifacte to then before March ending
please suggest it employe submite provisanal Loan Certificate is it valid or not
and which section i have take action againts our HR for this mistake and it suffer from this
Mandip nathji
16 April 2013 at 13:33
Experts,
Plz let me know under Gujarat VAT act,If cheque issued before due date presented after due date, whether it would be a case of default? Whether Interest for late deposite to be paid in such case?
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194 c
Whether there is any obligation to deduct tds on contract of material supply?
please give suggestion with section as early as possible.