CAclubindia

Queries Replied : 865

Hi, I am Sanjay Mukherjee,ACA ( May 1998),AICWA( June 1996) from Kolkata.I am here to exchange views with friends, old and new.

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Sridhar l says : Sale against Form H Karnataka State
Hi Sanjay, Can you clarify the following: I purchase Iron Ore Fines from a Mine Owner in Karnataka and sell it to a Exporter who is based in Andhrapradesh. My state of operations is Karnataka. Kindly inform whether I can get Form H from the Exporter and if yes whether I can transfer this Form H to the Mine owner who is asking for the same. There is VAT of 5% in Karnataka State.

PRASHANT PARIKH says : service tax credit ruls
Hi aditya, My query is, I have paid advance payment to shipping line agent (all cargo), after i have recd. her only Receipt of adv. pmt. my quetion is we can take service tax credit on "Receipt"? party has not sent the Invoice/bill. , If, yes that we can take it so, pls. sent a service tax notification for evidance. pls. give reply urgently!!! thanks in advance

Deepak Kumar says : About TDS
Respected Sir, I want know TDS rate in Contract, intrest, and any other payment

CA Ysil Karunai says : CFS
Consider the following example: H Ltd is holding company of A,B,C & D Ltd. A & B Ltd having a Goodwill of Rs. 10,000 each in their balance sheet (before holding - Subsidiary Relationship exist) While preparing a CFS for H Ltd. a capital Reserve Arising out of above four subsidiaries say Rs. 135000/- Query: 1. Whether Capital Reserve arising on CFS can be netted off against Goodwill in A & B Ltd and Shown as a capital Reserve in CFS of H Ltd as Rs. 115000 (135000-20000)? 2. If yes, whether it amounts to Impairement of Goodwill, since the Goodwill was not arising on Consolidation? Assume it as Purchased Goodwill.

PRAMOD PANDIT M.COM , CA FINAL says : floating charge
sir, what is the concept of floating charge? i heard this with solving liquadation of company problems.