Dear Sirs/Madam,

Company A awards a work order to buyer, Company B.
Company B, the buyer requests Company A to issue letter of credit to his foreign manufacturer (to the extent buyer needs to pay manufacturer).

Idea here is to save banking charges and documentation work instead of Company A issues LC to Company B and then company B issues LC to manufacturer.

Now foreign manufacturer asks whether he can issue invoice and shipping documents in the name of company B and mentions Company A as consignee.

Foreign manufacturer's concern is that whether banks will process his bill under letter of credit or his bill for payment will be rejected? Because letter of credit is issued by Company A (who is the consignee in the invoice and shipping documents) but billing address is in the name of company B (who is the buyer).

Dear Professionals, we all know that during Company Incorporation EPF registration is mandatory.

We have received a defaulter notice from the PF department. We have only one employee. We have not complied with PF act since we have less than 20 employees.

My question is after obtaining PF registration along with Company incorporation is it mandatory to do compliance as per PF and ESI act?

If yes/no, please share relevant rules/guidelines/circulars.

Hello
We have dispatched material to nepal before 1 year
Shipping bill is generated after 4 months but we have not received soft copy. Even tranporter is not responding in follow-up
What should be done for brc bank is asking for shipping bill copy.

I want to file pf nil return then any interest (7Q) or damages (14B) applicable on nil return if i filled late..

Hello sir, I have query..... we paid the commission 20,000/- and by mistake we did the full payment without any deduction,, next payment we deduct the above tds amount also. what's pass the entry?
1)
COMMISSION PAID A/C DR 20000
SHORT & EXCESS A/C DR 1000
TO BANK A/C 20000
TO TDS 10000

2) NEXT PAYMENT ENTRY
COMMISSION PAID A/C DR 15000
TO BANK A/C 13250
TO TDS A/C 750
TO SHORT & EXCESS A/C 1000

It is entry right or worng?

In uttar pradesh a partnership deed was executed in the year
2020 and stamp duty of rs 500 was paid. now in 2022 while applying for gst registration officer has seeked clarification that appropriate stamp duty not paid. Please guide as to the mechanism by which the differential stamp duty can be paid.

Hello Sir/madam,

I am Ankit Vishwakarma, I have a question regarding TDS.

I have one Tax Invoice of Rough Diary purchase for sales & promotion exp. (Free Distribution to all debtor) Rs. 33,660/- The company logo is printed on all the diaries. so I want to know that should I deduct TDS or not. If yes so what is the rate of TDS, Section & Threshold Limit, If No so why ?

pls tell me.

Hi All,

Need MOA format for plywood, hardware, construction & interior materials business. Can anyone provide me with the source

Can anybody help me out regarding professional tax queries as mentioned below:

Location: Madurai

What is the professional tax slab?

What is the due date for payment of professional tax?

What is the penalty or interest if we made the payment of professional tax after the due date?

Thanks in advance.

The company is in the middle of processing strike off. I'm preparing a set of unaudited financial statements, there is a Merger Reserve non-distributable of $1m stated in the prior audited financial statements. Could I keep it on the Balance Sheet or should it be written off to the retained earnings?
presentation eg.:
Share capital - $1.5m
Merger Reserve - $1m
Retained earning - $90k