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Anonymous
This Query has 1 replies

This Query has 1 replies

Respected Sir / Mam

A local building materials supply company (LLP) in Karnataka selling Sand , Bricks, construction Aggregates to contractors / builders(business) & individuals.
For example doing job of the purchase manager for our customers ... to get best quotes and then provide order with best quote.
supposingly Our company does not charge anything to our customers for the services provided however we only charge a service fee/commission to our sand/brick vendors.

please help in asmd below clarifications. Thanks

1. Which of the them mentioned in the brackets ( VAT / Service Tax / TDS )are applicable for our company and at what rates in karnataka ?

2. Most of the transactions are above Rs 20000 per transaction and are cash as local vendors don't accept cheques but some customers give cheque and some cash. how can i show it in accounts ?

3. Customers send cheque / cash to our company name and then our company pays cash to vendors after deducting commission/service charge. Is it better to get the cheque in the vendor's name directly from the customer and then charge a separate service fee with the vendor to save tax ?

3. Can our company first buy on a purchase order from vendor and then resell to customer increasing sand/brick price ( which includes service charge )or is it not allowed

Request you to please help . Thanks sir .. mam


sanjiv
This Query has 1 replies

This Query has 1 replies

01 December 2013 at 22:13

How way accounting treatment

how way treatment of electrical equipment very low price cost in balance sheet as capital items or stock under current assets.


Rohit
This Query has 3 replies

This Query has 3 replies

01 December 2013 at 14:35

Deffered tax

is additional dep permanent difference or timing difference ? and the reason .


Keval Vakharia
This Query has 3 replies

This Query has 3 replies

01 December 2013 at 14:24

As 18 related party issue

X Ltd. was an associate of MN Ltd. upto September 2013 but ceased to be an associate thereafter. Purchase & Sales transactions were undertaken by MN Ltd. with X Ltd. throughout FY 13-14.

Whether transactions with X Ltd. should be reported under Related Party Disclosure by MN Ltd. for FY 2013-14?
If yes, transactions upto September are only to be reported or for the whole year?


jyoti g gurnani
This Query has 1 replies

This Query has 1 replies

01 December 2013 at 13:59

Diff between

diff between article of association and memorandam of association


khyati
This Query has 1 replies

This Query has 1 replies

01 December 2013 at 13:45

Interest on fd

how to do accounting of fd interest . will the fd interest treated as income at the end of the year.



Anonymous
This Query has 6 replies

This Query has 6 replies

Dear sir,
I have a query i was done a NGO audit but there is a problem that a Land of Rs. 1ooooo was showen in FY 2007-08 Bal sheet then after years balance sheet it was nigher shown nor sold.
Clint said that Land would be shone in FY 2012-13 Bal. sheet
Previous Years audit done by Another Auditor
is it possible if yes what can be treated?


Pradeep
This Query has 1 replies

This Query has 1 replies

30 November 2013 at 22:50

Preparation of budget

How to prepare a effective budget for the company


nupur
This Query has 1 replies

This Query has 1 replies

30 November 2013 at 21:00

Acc concepts

can u explain substance over form concept


vidya
This Query has 2 replies

This Query has 2 replies

30 November 2013 at 20:34

Please help

Seetha and geetha are partners sharing profits and losses in the ratio 4:1.Meeta was manager who received the salary of 4000 p.m.in addition to a commission of 5% on net profits after charging such commission.Profit for the year is 678000 before charging salary.Find total remuneration of meetha?

a)78000 b)88000 c)87000 d)76000

The answer given in the ICAI material is 78000. Can you anyone help me for this calculation.






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