Dear Friends,

We had made Inter State sales against C forms, but some parties hadn't given us required C forms. Now at the time of Assessment my Assessing Officer is charging tax difference along with 10% Penelty and Interest. Is Penel provision is valid under CST Act? Please provide me some legal guidance along with court judgement & case references. My Email ID is ashishvishnoi@sify.com

I recently bought a independent house. The total cost of the project is 50Lacs, and the breakup is as follows:

Plot Value=9,33,000

Cost of construction=40,67,000 (Gross Value)

The builder is charging me Service Tax @ 4.12% on (40,67,000)=1,67,560/- (Compounded Rate). Why cant he charge at Normal Rate i.e. @ 12.36% on (33%*4067000)=12.36%(1342110)=1,65,884/-. The difference between Normal Rate and Compounded Rate being 1,676/-. Not that its a huge amount, but for my clarification. Would someone shed some light on this ?

Coming to the Main point, the builder is charging me VAT on (GrossValue+ST) as follows:

4%(4067000+167560)=4%(4234560)=1,69,382/-

Is the above calculation correct??? I was under the impression that VAT @ 4% is calculated on Gross Value only, but the builder is including the ST component in this calculation.

So which calculation is right? VAT@4%(GrossValue) or VAT@4%(GrossValue+ST)?

The difference between 4%(GrossValue) and 4%(Grossvalue+ST) is working out to Rs.6702/-. Hence I need the clarification. So can anyone enlighten me on this issue??

Thanks.

Please tell me VAT on Fixed Assets my Register on work Contractors ,
fixed assets for business not for sale

If there is no any specific provision of issuing assessment order, whether the department can issue demand note, without issuing assessment order? Whether the department can take this ground that the dealer, if required, may get certified copy of the Assessment Order ny paying a requisite fee?

Dear Sir,

What is the % of disallowance on office equipement & furniture . I think It is 4% & remaining is allowable for Set off.
is it right?