Sandesh
17 February 2012 at 15:14
Dear Sir/Madam,
My client registered for VAT in Maharashtra has a customer in Tamilnadu to whom he had supplied material by purchasing in Tamilnadu itself. Thus the vendor had charged local TNVAT in the bills. My client while raising bills on his customer has billed an amount inclusive of taxes as he is not registered in Tamilnadu.
The sales tax consultant has advised to pay Maharashtra VAT on the said sales.
I do not think this treatment as correct. As per consultant's contention no C-form is collected so there cannot be CST and hence MVAT has to be charged. Also the client will have to loose on TNVAT credit.
As per what I found out my client should register with Tamilnadu. But the consultant says registration should be before the sales were effected or when sales exceeded the limit for registration as per TNVAT laws. But he cannot register after the sales are effected and claim TNVAT credit.
These transactions were effected in Oct, Nov and Dec 2011.
Please provide a remedy on the same, so that my client does not loose the TNVAT credit?
Regards,
Sandesh.
giridharan
17 February 2012 at 15:10
I received certain consultancy services from overseas consultant, for which I am liable to pay service tax under Sect.66A of Finance Act, but I have not made any payments so far. Now the auditors insist to create a liability by an entry in my books of accounts towards this amount.
I find the explanation under sect.67(4) elaborates ‘Gross Amount Charged includes payment by cheque, credit card, deduction from account and any form of payment by issue of credit notes or debit notes and ‘book adjustment, and any amount credited or debited, as the case may be, to any account, whether called Suspense account” or by any other name, in the books of account of a person liable to pay service tax, where the transaction of taxable service is with any associated enterprise.’
Does this mean that this entry will attract payment of service tax under deeming provisions even though I have not made the payments. Kindly clarify.
pramod
17 February 2012 at 12:33
RESPECTED EXPERTS,
I WOULD LIKE TO KNOW A FINE CLARIFICATION WITH THE SUBJECT MATTER MENTIONED BELOW;
THAT, IN VIEW OF THE SERVICE TAX RULES THAT SERVICES PROVIDED UNDER THE CATEGORY OF COMMERCIAL TRAINING & COACHING CENTERS, FROM THE LIST OF SERVICES, BEARING SERIAL NO: 23 WITH EFFECT FROM 1-7-2003, WHETHER RULE IS APPLICABLE TO SPOKEN ENGLISH COACHING CLASSES OR NOT. IF SO HOW TO ENSURE ITS COMPLIANCE.
THANK YOU ALL.
vinaykala
15 February 2012 at 19:22
dear sir,
i submitted the return of income for ay 08-09 on june 17,2008.
subsequently i filed a revised return for ay 08-09 with the time limit on march 15,2010.
the case i wass informed through your website was timed barred after dec 31,2010.
since i did not get the refund of rs 15888/- plus intrest after repeated complaints to the ito, i filed a complaint with the lok ayukt income for u.p. who has sought a compliance report from the i.t authories by 15 02 2012.
instead of giving the refund and interest they are seeking documents verbally like return with full enclosures. i have sought a written request.
MY QUERY IS :-
CAN THEY LAWFULLY SEEK DETAILS OF THE RETURN AFTER THE TIME BARRED DATE,\?
IF SO WHO IS THE AUTHORITY EMPOWERED TO SEEK THIS INFOR LEGALLY?
Kindly guide me in the matter
vinay kala
feb 15,2012
ARUNKUMAR V
15 February 2012 at 14:45
I want to know whether BSNL is exempted from paying service tax along with the payment of service bills
for example a concern is doing printing the bills for bsnl and stuffing them into envelops for that they are charging invoice amount with service tax of 10%, but bsnl is not paying the service tax they only pay the amount without service tax.
kindly update me with the notification no, if bsnl is exempted from paying service tax
thanks in advancce
Ravi Mehra
13 February 2012 at 18:05
I WORKING WITH COMPANY & SALARY DETAIL IS AS ON
basic salary RS. 2000
special ALLOW. RS. 3135
SATuatory BONUS RS. 400
HRA RS. 400
CONVEYANCE RS. 800
ONE TIME PERFOrmance allowence 3265 PAID IN JAN.
DEDUCTIONS
PF 240
ESIC 175
Incentives according to sale
I.T TILL JAN. IS RS. 16182
IS ONE TIME PERFORMANCE ALLOW. IS DEDUCTED OR INCLUDED IN INCOME
Am I have deductions from HRA.
I have deposited 6000 LIP per annum by cash is it Claimed.
reply on ravimehra.accountant@gmail.com
SUKHPAL SINGH
13 February 2012 at 17:58
Dear Sir,
I am Ex-servicemen from IAF. I have discharged IAF wef 30 Oct 2011. I wish to know that what are income tax liabilities against my retirement benefits/elements i.e. AFPPF, Leave Encashment, Gratuity, Commutation. Please guide me in order to file the income tax. I would appreciate your valuable assistance.
With regards and best wishes,
Sukhpal Singh
Ashish Patel
13 February 2012 at 12:18
I want to register a firm which would be fully engaged in exporting of tobacco and Indian Spices. I want to know the step by step procedure to register a new firm.
Regards
Ashish
lina abood
13 February 2012 at 09:20
DEAR SIR,
AGAIN TODAY I AM COMING WITH NEW INQUIRY ABOUT THE ABOVE SUBJECT.
AS YOU ADVICE ME EARLIER THAT I CAN KEEP THE CAPITAL GAIN AMOUNT WITH SBI BANK UNDER CAPITAL GAIN SCHEME TILL I SELL MY OTHER FLAT THEN I CAN CLUB THE AMOUNT AND GO FOR BIGGER FLAT .NOW MY C.A. TELLING IT IS NOT POSSIBLE IN YOUR CASE BECAUSE YOU WILL BE STILL HAVING ONE MORE FLAT AND SEC.54 IS POSSIBLE FOR YOU IF YOU ARE HOLDING MAXIMUM TWO FLAT SO THAT YOU CAN SELL ONE AND KEEP THE OTHER AND HE ADDED THAT THE ABOVE SECTION SAYING ( A HOUSE ) WHICH IT MEANS ONE SINGLE HOUSE
PLEASE GIVE YOUR SUGGESTION REGARDING MATTER
THANKS TO ALL
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Exemption u/s 54 of the it act, 1961
Plz answer the following Query:
A & B being co-owners of a residential property sold the same and acquired 2 properties – both properties being owned jointly by the co-owners. (50%-50%) Now, they have claimed in their return of Income – exemption u/s 54 for both the properties – to the extent of 50% in each of the property. So, return of income is showing that one person has claimed exemption in respect of 2 properties – 50% for both the properties - which is against the language used in section 54 – that is – “a residential house” and hence the claim has not been allowed fully in the scrutiny assessment. Stand of the assessee is that in between them they have claimed exemption for 2 properties – so one can say – one property for one assessee and hence the claim should be allowed.
Kindly opine and also give judgment if available.
Plz reply ASAP.
Thanking in Advance