Dear All Expert

if Material (not finish product)out of stock is theft by someone than what is the point of view Excise and Dvat on that theft stock matter.

plz rply urgent

I have a company that takes orders in India. We have stock in the USA. We ship it from the US on receipt of money in our bank. The shipper on record is my supplier X. The invoice is raised by me Y. The consignee is the end customer Z.

The invoice is billed to Z by Y in USD and INR equivalent in the invoice. The shipping documents have X as the shipper and Z as the consignee. I do have an invoice from the supplier X to me Y in USD. There is a 4% markup in my invoice to the end customer.

Is this counted as a high sea sale ? I guess not as the sale is before its shipped out. Is there anything wrong in this transaction ? Am i allowed to do a sale prior to receiving the goods while they are in another country ? What are the tax implications ? Basically my objective is to make the end customer the importer of record.

Dear CAs,

We are in the brown field project. Till last month project was on but due to some reasons the project is kept on hold and may be scrapped if not started in next few months.

During the execution of the project we purchased capital goods and raw matarial for construction of capital goods. As on date these are not ready for use for the reason stated above. But we have taken cenvat benefit on the items/material purchsed. Now my quary is-

a) Whatever Cenvat utilised holds good or we need to reverse the same as project is going to close.

OR

b) We may continue to take the Cenvat as taken previously.

Please give your views on the above.

Regards
Manoj

We power generation company, power exempted good, hence not taken excise registration.

we are selling scrap generated during fabrication and erection of power plant.

Is it excisable, liable to pay excise duty?

I know, that we have to pay excise duty on scrap sales in mfg. company. But here...

Please clarify sir...

Dear all

we are the manufacturer and we export to american party but our material is rejected by the party (american) now what is the procedure about taxation.

1) when party return the material at that time the import invoice is is received
2) can we take credit on this invoice


Please

Tell me what should i do

Co issues supplementary invoices for which it is liable under sec 11AB.As per said sec interest will be payable till the date of payment of duty on supplementary invoice.

Company pays the duty on supplementary invoices within due date however postpones the liability of interest on the same, which it pays at the end of the year.

Is there any time limit within which such interest needs to be paid? Is there any implication such as penalty or confiscation for non payment of interest within time limit applicable if any?

Dear Sir,

Whether power generation liable for excise duty? If it is exempted, is it compulsory to get excise registration under central excise act? Please clarify my doubt.

Whether State Level Sales Tax applicable on power generated and sold to power grid?

Our company started construction of captive power plant, it is Thermal Power Plant.

Requesting you all please clarify my doubt with relevant notification or sec. numbers.

Thanking you,
Swamy K.

Dear friends

can anybody let me know what are all requirements ( such as approval from excise dept, forest dept etc.) of setting up of biri manufacturing company.

Dear Experts,
If a mfg. has final product exempt from Excise duty, then:
1) what is the traetment for its Excise inputs paid on purchase?

2) What is the traetment of Service Tax paid paid on input services paid?

3)Beside adjustment of Service tax with Excise duty, can the Service tax input can be adjusted with Service tax output, and the balance /excess input service tax remaining be treated as expenses and debited to P/L account seperately?

Thnx in advance.

sir iam a distributor for leading printing ink firm& for other raw materials for printing industry. i want 2 know abt ED. wat r the advantage of ed billing in our part.i can claim ed(as a seller).