geeta
26 December 2011 at 15:08
Regarding availing input on goods specified Schedule V of the Act,
The VAT act was introduced to prevent levying tax on tax, however Schedule V of the Act provides on certain items, like, Motor Vehicles and its parts, Articles of food and drink, Textiles, Furniture, etc.
By refering to the VAT act, there is no specific provisions which exempts the reseller or purchases for manufacturing/further processing from the provisions of the Schedule V.
Logically, it looks like these provisions may not be applicable to reseller / manufacturers, but I want to know whether there is any provision/rule/notification/circular, which exempts the applicability of Schedule V of the Act to reseller / manufacturers.
sunil rajpal
26 December 2011 at 14:29
A non-resident indian lives in canada for the last 40 years and owns a house in canada and also owns a house in india, now wants to sell house in india.i want to know about the tax liability as far as capital gain is concerned.
This person is staying in india for the last 30 months.
Anonymous
26 December 2011 at 13:58
Dear All,
My Job started in Sep' 11 and i moved to Metro City for this,
My query is .... Can i get exemption for Apr to Aug Rent which i gave in Bangalore.. ?
Asha
26 December 2011 at 13:46
Dear Members Good Morning,
The Facts are as below:
1.I have a service tax registration number .
2.That My Gross Value of Taxable Service Tax during the peirod of Apr.2011 to Sept.2011 is less than Rs. 10.00 lakh, and also proor to that period.
3. Can I claim Exemption on the basis of gross Value of which is Less than Rs. 10.00 lakh during current fiancial year and to that of any prceeding financial year.
4. Should I have to pay tax or claim exemption from paying tax even though Gross Receipt is below Rs. 10.00 lakh.
5. If so Please guide me how to claim exemption with notification no.
Thanks in advance.
Anonymous
26 December 2011 at 12:45
Hi All,
I have the following query in relation to non- submission of Form 15G/H
One my client has collected form 15G/H from the parties but has not submitted the same to the department. Now the department in scrutiny proceedings want to disallow the same for the violation of sec 40(a)(ia) .
Can assesseee seek for the allowances of such expenses on the basis that there was only procedural lapse to file the Form with the department however the Forms were fully valid in its originality
Also correct me , if I am wrong i n the following :
The last date to file Form 15G/H is the last date to pay the TDS in time to the department.
Awaiting an early reply
HARIDAS.P.R
26 December 2011 at 12:28
we are doing job contract work of manufacturing animal feeds for another company.job contract was entered in 2005.cattle feed is a non-excisable product.are we liable to pay service tax under notification 7 /2008.are we exempted?
Anonymous
25 December 2011 at 23:39
Income derived from Exports of Organic soybean & its by productsfor Individual of India is taxable?
Anonymous
25 December 2011 at 13:20
HOW can i get the income tax returns of 2002 t0 2004 of my FIL?i donot have any his document like pan card no. etc.actually i need it to break their false d.v. case.thanks in advance
Anonymous
24 December 2011 at 19:41
guys I wanna know that
If the property used for the purpose of business ,then in which head it is chargeable?
n
what does it means "annual value of house property will be charged under head income from house property when it is held by assessee as stock in trade of a business"/.
pls reply as soon as possible ......
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Vat tax on pulses
Hi,
I have some clarification in VAT, please clarify,
1. I wanted to know vat rates of pulses, earlier the same was covered in Sl.No.30 of Schedule 3 to VAT Act, i.e. in 5%, and vide notification No.FD 82 CSL 10(II) – (effective for the period 01-04-2010 to 31-03-2011) the same was exempt. However vide Act 12 of 2011, sl.no.30 of Schedule 3 has been removed. The effect is it is no more covering in any of the Schedules to the Act, i.e., it is taxable @ 14%.
Section 4(1)(b) provides in case of declared goods u/s. 14 of the CST Act, the tax would be the maximum rate provided in Section 14 of the CST act i.e.5%.
So whether pulses are chargeable @ 5% now, since the same is declared goods u/s.14 of the CST act.