Dear Sir,

We Purchase Gold Studded Ornaments outright from a jewellery manufacturer. This manufacturer will use all his material to make jewellery for us. He will sell it to us under his invoice with VAT. Then we do branding of our Brand on these jewellery & then sell it in the market. Our turnover (from 1.4.11 to till today) is 1.44 Crores nett, i.e. excluding VAT/CST. We have already obtained Excise Regn (as Manufacturer). After crossing 1.50 crores, we will start charging excise duty (1% on branded jewellery) in our invoice to our customers.
While purchasing, our supplier is a pure simple jewellery manufacturer. So he doesn't charge excise on his invoice to us. Thus to avail CENVAT credit, we have no such purchases with excise. However, can we take credit of Service Tax paid on following :- (a) Monthly Marketing Consultancy Fee (b) Monthly Legal & Professional Fees (c) Monthly Advertising ( in newspaper,TV etc) Bills (d) Monthly telephone bills. IF YES, CAN WE ADJUST THIS AMOUNT AGAINST EXCISE DUTY PAYABLE ?
IF YES, UNDER WHICH RULE / NOTI. PLEASE GUIDE. Because on all above four services, we pay service tax of about 75000/- every month. If we can get this credit, then it will be good for us.
regards
anckoora

What would be impact after implementation of GST, to steel manufacturing industry

Does any one knows from when finally GST will be enacted....??

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Dear sir ,

Kindly tell me details of this section and if i get a certificate under this head this income is refundable in india and taxable

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Dear All,

I wanna know that we have made a sale in SEZ & we have raised invoice to SEZ unit in Foreign Currency Euro. We have received payment in Foreign Currency Euro too. In this condition should we get Form - I from the SEZ unit or not.

Thanks & Regards

During Fy 2010-11 value of service done by one of our service provider is
Bill amount - 196000
Service Tax - 20188

Out of that we paid Rs.147000/- on 2010-11 Fy balance is still outstanding while submitting ST return for Q2 10-11 whether we can claim input for above serivces also because amount is still outstanding

Please advise

hi... experts.... FM said today i budget that GST will be introduced
on 1 APR 2012 but issues are still pending to be discussed with state government....I have doubt that most of the Indirect Tax is already collected by Central Government so, why the approval of state government is required?

Dear Experts,

Ours is a pvt ltd co. directors of our co. have taken loan of rs.2 crore @ 15% p.a. from market.

They have given this rs. 2 crore to our company to invest in company's project.

Company will be paying it on this loan taken from directors @ 12% p.a.

total int paid by director to outsiders form whom he has taken loan say rs.15 lacs. & int earned by director from our company say, rs.12 lacs.

May query is ..
1) int paid on loan taken rs.15 lacs can be allowed as deduction agst int incomes of rs.12 lacs?
2) can rs.3 lacs (minus Rs.3 lcas) be adjusted agst other incomes for from other sources?

Waiting for ur reply..
Thanks in advance,
Regards,
Sushil.