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Queries Participated

Mahesh Kakade   02 February 2012 at 13:43

Vat & cst

Company fail to inform the authority of their additional place of business.

1. Please tell what will be implication?
2. Penalty if any?
3. Within how many days to be inform authority about the additional place of business?

Mahesh Kakade   24 January 2012 at 23:01

Flat

My friend booked the 2BHK flat, also sell agreement made with the builder.
Builder printed broachers as 5 buildings each 9 floors without having the approval of 9 floors. In broachers builder shown the amenities of 2 lifts for each building and common children park and play ground. My friend had purchased 2 BHK in building “A” on 3rd floor on the basis of given information in broachers. But in later date builder allowed to construct only 7 floors for each building. Now builder decide to give only one lift to each building. In his sell agreement ‘Annexure E” it mentioned 2 elevators for each building with V3F, Elevators with generator backup.
All the members of the building want two lifts.
Please suggest remedy to resolve the issue?

Mahesh Kakade   05 January 2012 at 10:19

Vat & cst

What is commercial benefit to enroll the VAT & CST registration in different state in India under one ownership?

1. Company is under Project business (ESP)
2. The company’s current turnover is 5crs, may increase to 20 to 50crs in this FY.

Also tell the E1 & E2 transaction rules and procedure to mitigate with statutory compliance.

Mahesh Kakade   28 August 2011 at 18:06

Work contract tax

I want to Work Contract Tax.

If a company have taken an EPC job for installation of project, in the scope of work supply equipment, civil work and erection value has been clearly defined. In addition to the above in civil work it further defined the scope of civil work i.e pure labour work, supply of cement, supply of steel and aggregates.

I want to know how much WCT will be require to pay?
Also any other scheme to save the tax in the above contract?

Mahesh Kakade   28 August 2011 at 08:19

Service tax & excise duty

I want to know for greenfield project can a company availed CENVAT benefit of Service Tax & Excise .

If a company putting a power plant for their Green field Project and any expenditure incurred on account of paying a service tax & Excise, can this service tax & Excise will be CENVATABLE for green field project.

1. If Yes, any notification
2. If No, any notification.

Mahesh Kakade   28 August 2011 at 08:18

Service tax &

I want to know for greenfield project can a company availed CENVAT benefit of Service Tax.

If a company putting a power plant for their Green field Project and any expenditure incurred on account of paying a service tax, can this service tax will be CENVATABLE for green field project.

1. If Yes, any notification
2. If No, any notification.

Mahesh Kakade   20 February 2011 at 16:58

Superannuation (S.A)

Mr. X is working in a limited company.
Details of Mr. X is hereunder below:-
1. Date of Joining in the company is 9th October 2006 as management trainee
2. Date of Permanent employee is 9th October 2007 as executive.
3. Current Gross Salary of Mr. X is Rs. 32500/- per month
4. As per current policy of the company Superannuation is deducted 15% of the salary
5. The S.A. amount will refund to the employee after 20 yrs of his service
6. If employee resign before 20yrs period then the deducted amount will not refund to employee
Need your advice on the following points:-
• Can company as per point no. 6 do as per Act?
• Need detail explanation on this subject

Mahesh Kakade   20 February 2011 at 13:57

Gratuity

Mr. X is working in a limited company. Details of Mr. X is hereunder below:-
1. Date of Joining in the company is 9th October 2006 as management trainee
2. Date of Permanent employee is 9th October 2007 as executive.
3. Current Gross Salary of Mr. X is Rs. 32500/- per month
4. Mr. X want to change the company on 15th October 2011
Need your advice on the following points:-
• Is Mr. X is liable to get the gratuity as per Act?
• If yes then How much?
• As per above details when Mr. X is applicable for gratuity.

Mahesh Kakade   28 January 2011 at 17:53

Revolving - Inland Letter of Credit

Inland letter of credit opened by the SBI chennai for an amount of Rs. 8crs. Negotiating bank is SBI Pune.
The LC opening bank had put the conditions that the LC will be reinstated within seven days after receipt of advice from the negotiating bank for the value stated therin confirming that the document have been negotiated complying all terms and conditions of the LC as per approved billing breakup.

I need clarification for following points....
1. Can the negotiating bank have a right to ask for reinstatment of value of LC as per the condition putten by LC op. bank
if not what is regular course of LC

Mahesh Kakade   10 November 2010 at 12:36

Rate Change after booking the Flat

I have booked the flat @ x rate per sq.ft for 1BHK and builder has given the receipt of the same after taken a booking cheque from me but till date he not deposited booking amount cheque in my account. Now builder want to change the rate of per sq.ft of the Flat.
Can the builder change the rate after issued booking receipt ?
Any remady for this for me.