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Anonymous   22 November 2011 at 15:56

Query on input tax credit reversal - tnvat

I am a manufacturer in Chennai. We have received a Notice from the DCTO for reversal of input tax credit since 2006-07 for interstate sales made without Form C. Since we are a manufacturer, please let me know what is the formula for calculating the reversal of Input Tax Credit as we cannot identify which purchase bill is used for which product since we manufacture the goods. Is there any standard formula that TNVAT prescribes ? The DCTO claims that we have to pay 12.5% of the total Interstate bills made by us. But this looks unfair. Please help with your answer.

kamal   22 November 2011 at 15:25

Applicable sales tax on sale of capital goods under haryana vat

Respected Sir/Madam,

As per above subject I want to know if we want to sale on D.G. Set then what will be the vat rate to be charged if the purchaser is not registered or registered?

Plz reply as soon as possible.

Thanks & Regards,

KK

Anonymous   22 November 2011 at 10:20

Form 16

Dear Sir,
I have little confusion about FORM 16. Could u clear my problems. what I should do after receiving FORM 16.

Anonymous   22 November 2011 at 09:37

Reply soon

Hi,
I would like to know wat "TAX PROOF PROCESSING" exactly mean.....

Anonymous   21 November 2011 at 15:11

Service tax

Sir,
An individual owns some tippers and which he uses for transporting his own business of sand and metals.
He claims tipper rentals paid as his business expenses and also this tipper income is separately accounted in separate books of account and claim expenses on tipper.
Is he liable to service tax on tipper rentals shown as income in the books of tipper rental business.
Or he liable to service tax on the amount of tipper rentals having been claimed as business expenditure.
If so plese inform the rate, date applicable, method of service tax computation etc..

Anonymous   20 November 2011 at 18:51

Tax free investments

I have been paying tax. Now, looking for investment options which gives me tax free return on yearly basis.

Please advice me the options available in this regard, if any.

Thanks & Regards

Anonymous   20 November 2011 at 13:20

Income tax...

My case is fixed up for scrutiny u/s 143(2) of the Income Tax Act. Under AIR reports i have been asked how did i deposit more then 10 Lakhs in a savings bank account during the year to which i have no answer.
I am ready to pay the tax by declaring the said amount during the proceedings which is unanswerable by me during the proceedings u/ 143 (2) but please explain -
Is there some way that i can avoid paying the penalty 271(1)(c) or others if any)
( I cannot revise my return now as the time to revise it is within a year but its more then that by now and i think its time barred).

Dr.Gaurang N. Gandhi   20 November 2011 at 11:01

Vat & service tax or excise ?

My Brother is I C Programmer.

Now he stared purchasing ready made kit from other states for programming.

If he sell the kits in local and out state market after doing programming as per the requirements of the buyers which tax is applicable whether VAT & Service Tax or Excise ?

Please send me the calculation of the tax which ever is applicable..

Regards

Gaurang Gandhi

+ 91 9429060515

AJAY SRIVASTVA   19 November 2011 at 13:58

Gift

can mother in law can make a cash gift of 500,000/- to her daughter in law,plz answer me as per income tax law whether mother in law comes in the defination of relative or not

prithwish sengupta   19 November 2011 at 10:04

80ccf

is interest from infrastructure bond on maturity liable to deducttion of tds?? and what is the rate?>