All the experts are requested to put light on this matter urgently:
We are statutory auditors of a Pvt. Ltd. Company ( sales above 35.00 crores).

Now the co is taking wrong credit in VAT on capital goods & is also not paying VAT on sale of old ("Kattran" )raw materials (about 20.00 lakhs each year.)

We know that this is clearly violation of law.
PLEASE TELL ME WHAT ARE THE LIABILTY OF US AS A STATUTORY AUDITORS .
PLEASE ANSWER WITH SUPPORTING IF POSSIBLE SINCE I HAVE TO PROVE THE ANSWER.

Registered Dealer ,Delhi received an order from SEZ Unit,Andhra Pradesh for supply of 5 Nos Transformer. Registered dealer, Delhi placed same order to Registered dealer,Gujarat who is registered dealer under Central Sales Tax Act to deliver the material directly to SEZ Unit.

In view of the above facts,the following queries have been raised. While raising invoice from Registered dealer, Gujarat to Registered dealer Delhi ,what rate of central sales tax will be applicable .

(1) Full Central sales tax.

(2) Central Sales Tax exempted against form`I'

(3) Central Sales Tax @2% against form`C'

Dear Sir/madam

I want to know whether vat can be claim on fixed assets on which 100% depreciation is claimed in the first year as they are below Rs 5000

As per maharashtra VAT Act there is a reduction in set-off of 2% on purchases made for Branch Transfer. In one of our client case branch transfer is made on Invoice price (i.e. cost of Production+ profit)there is no possibility of finding corresponding purchases of goods. please advise us in respect of reduction in set-off in this case.

Sir

One of the car dealers in kerala, sold their test drive vehicle in the year 2006-2007. The sales tax athourity had imposed 4% tax on the sale amount of the vehicle. As i am aware, for secondary sold vehicle the tax rate is 0.5%. When conveyed to the sales tax athourity they had informed the tax for sale of secondary used vehicle was 4% in the year 2006-2007.

May i know is it right?

If the compnay pays the stipend to the persons who are not on company's pay roll. Whether the employer has to deduct profession tax or not. Please advise. Also state the section under which the P t is not required to deduct on stipend.

One of My client being individual Proprietorship concern engaged as Labour Contractor.It was established since 5 years.thereafter the proprietor had left india & went to Abroad.Meanwhile He has given power of Attroney to his brother-in law for carrying the business under the existing concern.Now the concern wants to take TIN registration No for it's name.

Now query is whether the power of Attroney's ie the authorised person on behalf of proprietor can apply for TIN registeration No in the name of existing Concern or not.Or new application for TIN registration No for Another New concern has to be made.

Please clarify.

My client has his own IT Industrial unit. His main products are Soft-wares ( as per customers requirement). Thus his machinery and equipment are Computers and peripherals only.

My query is whether VAT on computer purchases and its repairs is eligible for 100% set-off. If not then on what ground ? Is there any specific notification available stating the dis-allowance fully or partially ?

This is regarding VAT in Maharashtra State.

A company is in business of Consulting Engineers all employed peoples are civil engineers and architects. They are doing CAD designs but some time they get contract and while completing contract they takes purchase bills from suppliers which is RD and taxed under VAT hence they have to deduct their TDS under WCT and issue in Form 402 for this whether they have to register under MVAT ACT and if yes under VRS Scheme or any other special scheme is there for such cases please suggest

Dear all,
I m going to start a business for Distribution of Drugs in whole U.P.state. We purchase the drugs from uttarakhand & himachal as a consignment.we created a pvt company for C & F to manage the distribution.Further i have taken a business premise in Delhi as a distribution center for the stock.
Now what i want to know what is the formalities to be done in respect of purchase & sale of the drugs.Such as TIN No., CST No. & any other to be required.
so kindly suggest me in details.

Hoping for a fast & sound reply.

Regards
Pankaj Kumar
Mob-9716972838
E-mail-pankaj120@yahoo.co.in