Bharat Bhatia
09 April 2012 at 14:32
Whether service tax payable amounting to Rs.8,44,438/- was disallowable under section 43 (b) of the Act. The assessee company disclosed a sum of Rs.39,73,854/- as expense payable in its balance sheet out of the above a sum of Rs.12,20,000/- was shown as payable towards service tax out of which Rs.3,76,268/- was paid before filing return of the tax, thus, the balance unpaid amount of service tax was Rs.8,44,438/-, this amount was not allowed and was added back to the income under section 43 (b) of the Act. As per rule 6 of Service Tax Rules, 1994, the service tax was payable on amount received by the assessee. Whereas no amount was received emphasis that the expression receipt is constructed as per method of accounting followed. The assessee was following mercantile method of accounting as soon as the invoice was raised, charging service tax. Such service tax was not received by the assessee.
Please advise whether disallowance under section 43 (b) of the Act is correct and within law?
SANISH.KS
09 April 2012 at 13:21
Sir,
I am sanish K.S from Cochin, Kerala and working in a Pvt Ltd Company at Cochin. Our Companies service tax liability is lessthan 25 lakhs in previous year.We are paying E- payment in monthly and submit half yearly return. Is there are any changes in monthly payment and half yearly return in Finance budget 2012.…Please give me a reply…My cell No is .9846165202. Email id : Sanish.ks@sify.com
Regards
Sanish
Madhu
07 April 2012 at 12:11
Sir,
I would like to know if there is any exemption on tax for donation of real estate(Houses/Land)to charity in India?
Thanks in advance.
biren shah
06 April 2012 at 20:41
I like to know if person purchase any building for office use. it is under construction. but after june builder give possession.
Now in this assets builder take advance payment, agreement in june.
How person take cenvet credit for this assets?
SOUMYA CHAUDHURI
06 April 2012 at 18:42
Sir/Ma'am,
What are the Licences required for - Trading of Used Mobile phones - on Online ( such as - VAT + CST, Trade licence ) ?
SOUMYA CHAUDHURI
06 April 2012 at 18:37
Sir/Ma'am,
What are the Licences required for - Trading of Used Mobile phones - on Online ?
CA Vaibhavi Jhaveri
06 April 2012 at 11:20
Our Assessee company has carried forward dep of AY 1997-98
which it has still remained unabsorbed and c/f. in AY 2007-08
The provision i.r.o. unabosrbed depreciation is
up to AY 1996-97 - Infinite
from AY 1997-98 to AY 2001-02- 8yrs
from AY 2002-03 - infinite
can the assessee company c/f dep of 1997-98 in AY 2007-08.
The issue is for unabsorb. dep. of AY 1997-98, time limit for c/f. will be infinite or 8 years.....
Hariom Sharma
06 April 2012 at 10:58
I am a salaried person. My salary is 30,000 per month. but my employer given me 22000 per month from Apr-11 to Mar-12 and balance salary given me in Apr-12. while releasing the balance salary my employer deducted TDS on whole salary i.e. according to 30000 pm.
I want to know that can i apply for refund of TDS or not. Since in whole year i have received salary 22000 per month.
G Murali
06 April 2012 at 06:01
Dear Sir
I am working in a factory making automotive parts where we sell manufactured goods and purchased goods to customers .for the purchased good we inspect,clean , pack and sell to customer without any physical change after payment of Excise duty . At present we claim modvat on these parts , need opinion if this action of inspect ,clean ,pack can be termed as "manufacturing" and we can claim MODVAT.
Thanks G Murali
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Service tax
Whether Expression "received" include receivable as the assessee is following mercantile method of accounting. Assessee did not take the service tax component as its gross receipt in effect it has claimed deduction of the impugned amount from its profit. As per ratio laid down in the case of Hewitt India (P) Ltd. is not applicable?
Whether service tax component which is accounted for separately is disallowable as per the provisions of Section 43 (b) of the Act?
Please advice.