Anonymous
26 November 2011 at 09:42
We are a EPC contractor for construction of mega power project.As per our contract for supply of onshore materials, the price of our contract is inclusive of all taxes.(a)The Contract Price includes all taxes and duties (including variations thereof) applicable to the transactions between the Supplier and the Sub-Suppliers for the purchase of raw materials, components, assemblies finished products etc. i.e. bought out items/ components/ equipment of the Supplier for this project and there shall be no liability to the Purchaser on this account. (b)The Supplier should note that statutory deduction towards withholding tax, if any, as applicable, shall be made and necessary withholding tax certificate shall be issued by the Purchaser. If any other withholding tax is brought into effect by a Competent Authority during the period of the Contract then the same shall be deducted at source as per the prevailing rules and necessary certificate/s to that effect shall be issued by the Purchaser.(c)13.6 In the event the Purchaser claims no taxable event based on current legislations governing the power plants catering to either 100% Export Oriented Units/Special Economic Zone/Mega project status, the Purchaser shall take steps to intimate the same to the Supplier under the Contract by furnishing necessary documentary evidence to such an effect and the Supplier shall thereafter not incur any further tax liability on such portion (s) of the supplies that are to be covered during such period until the expiry of the Contract. Any tax liability if incurred consequent to the intimation by the Purchaser shall be to the account of the Supplier.
As the project is mega power project (PLEASE SEE PARAGRAPH 4.1.3 OF THE POLICY AND PARAGRAPH 8.2.4 OF THIS HANDBOOK), the project will get exemption on excise duty based on PAC(project authority certificate). Now we have procured some materials from manufacturer based on PAC without ED. We have also invoiced to the owner based on our agreed rate.
Now my question is can the owner company issue a debit note for back claim of ED amount + CST on ED amount from our invoice amount? your early reply will be highly appreciated.
Anonymous
26 November 2011 at 09:38
My friend sold some property under GPA to a promoter during 2006 and the entire consideration was offered for tax.subsequently the promoter developed and built flats and sold the same using my friends GPA and Pan no. ( this is not a joint venture) without my friends knowledge. Since the promoter is not co operating to divulge the details the assessing officer may impose tax on entire sale done by the promoter. Kindly suggest a remedy to get out of this tricky situation
Anonymous
25 November 2011 at 20:28
my query how to get status for income tax appeals, tribunals results . which website
Bhupendra Dubey
25 November 2011 at 16:05
Sir / Madam
What will be the total amount for custom duty, If I import a used machine for 24000 Euro (Exchange Rate: 1 Euro is equal to INR 69.80/-), Insurance Charges@1.125%, Weight of the machine is 31120 Kgs.
Please reply earlier.
Anonymous
25 November 2011 at 12:54
Sir,
My question is regarding Online Business. My friend is a manufacturer of a new brand of tablet PC's. Most of his sales are online through online shopping websites. He is based in Chennai and sends his goods to all over India from Chennai charging the local Tamil Nadu VAT on the same on his auditor's advice. I am based in Bangalore. What we intend to do is to identify few computer shops in Bangalore and ask them to store (not buy) our products (perhaps as bailee?). We will list their addresses on our website. Thus, customers in Bangalore can approach these shops and buy our products and the bill will be generated online in the name of the company based in Chennai charging TN VAT (as though the sale is made online). The bill is not made in the shopkeeper's name and hence Karnataka VAT wont be applied. We will have a contract signed to that effect with the shopkeeper in the relationship of pincipal-agent. My question is, is such an agreement valid? Will the auditors be satisfied if we show them the agreement when he asks for the invoice for our products kept in the shop saying that these products are not bought by him but only stored for commission? Will the local tax officer raise an issue saying we are avoiding local tax although we are not billing locally?
Thanks much!
Anonymous
24 November 2011 at 09:15
A plot was purchased in 1960 and ground floor of about 1500 SFT built over it. Again upstairs of about 1600 SFT built in 1980. If the property is supposed to be sold what would be reasonable fair cost of the property for capital gain purpose?
visu
23 November 2011 at 23:29
An advertisement client has service tax liability over few lacs of rupees, over 9 months Since Apr 2011
But
He has no cash outflow and could not pay the accumulated payment.
Because of this, he has also not filed the return declaring the total receipts in ST-3.
Pl advise the status and consequence.
a) Can he claim SAMADHAN..
b) Can he get waiver of interest.
prem butola
23 November 2011 at 16:57
sir,
we export our final products under Rule-18
after proof of export geting we field Rebate claims . but some ARE-2s has missed in this condition Excise authority refused to releas our rebate calim.is it correct pl. help so that we can release our rebate claim form excise.
in some cases in original copy of ARE-2s are signed by custom Authority but same of duplicate copy are not signed due to mistankenly. in the same condition after fieling the rebate calim excise authority refuse . what type of document we provide them for releasing the refund while we already submit to excise dept. ARE-2 , S.bill, B.L.etc
Thanks & Reg.
Prem
09568006816
© 2026 LAWyersclubindia.com. Let us grow stronger by mutual exchange of knowledge.
Corporate
whether legally a consideration can be charged for parking lots.This is also to be looked from the perspective of stamp duty payable on conveyance.