we have received an order from company of Rs. 62 lacs and made purchase against it of Rs. 45 Lacs.now the buyer refuse to take the good and ready to pay Rs. 40 lac for not lifting the goods.but the good is ready and lying in stock.
so what should be the accounting treatment for receiving payment of Rs 45 Lac under which head it should be credited..and if the goods sold as scrap by us in very low value say Rs. 5 lacs so what should be the treatment of Loss.

Pls advise.............

Can we issue Form ( c ) Agst Invoice issued by First stage dealer to us.

# invoice has heading " consignment sond in transit under rule 52 (a ) agst. form C."

where a person who do job work in nature of packing of finished goods, and he use own packing material, is he liable to pay service tax? and tds is deducted u/s 194c

I resently paid ICAI membership fees. But at that time I was on employment. Now I want to start practice. So whether same form have to submit to acquire COP?

Dear Sir/Mem/Friend
one of my clients submitted application under VCES in form VCES 1
Now department is saying that a notice has issued in 2010 for services given in 2007-08

but my point is that my client submitted application for the year 2011-12 & 2012-13
not for 2007-08 and notice is related to 2007-08

is above application is liable to reject?

Where fixed deposits with a bank has to be reported in the income tax return??whether it will be under cash & Bank balances or will it be under investment??
suppose one fd has been taken for 1.5 years and another fd is taken for 5 years??

suppose company A is hiring its machinery (duly affixed with land) to Company B. Whether Company A has to charge lease tax whicle raising rent invoice for the same ? What will be tax implication if Company A has not charged lease tax whether VAT assessing officer can recover lease tax from Company A while passing the order.

Kindly advise.

my question
1) if a person is doing work contract work in his own premises which includes labour with material whether service tax is applicable if yes then rate service tax

2) if the person as above work at his customer premises labour with material whether service tax applicable if yes then rate of service tax.

3) if the person is doing above work at his own or his clent premises but without material whehter service tax is applicable if yes then rate of service tax

4) if the person as above doing only labour work at his or his customer place whether service tax is applicable if yes rate of service tax

pl clarify for above question

We are Italy Based MNC manufacturing Company situated in Tamil nadu. We got Export order from Corporate office Italy. As per Export order Material has to dispatched another group company which is situated in Thailand and Invoice should be raised in favour of Corporate office Italy. Is it possible? If it is possible what are the procedure we have to follow under customs and Excise Act. In this invoice is it possible to cover EPCG obligation? Please confirm.

Hello CAclubindia Members!
This is my first post on CAclubindia. So kindly ignore for my unprofessional ism & layman way of querying.

Is there any kind of TAX/DOCUMENTS/CHALLANS/DECLRATION FORMS/FORMALITIES/ETC on rental of IT Goods by Educational Institution from Non-registered CHARITABLE ORGANIZATION.

I am running a Non profit organization which is not registered and its goal is to promote IT in the society. For IT promotion, we will be sponsoring IT Equipments like Networking Switch, Networking cables & Power strips at "0 cost" to an event at technical fest of college. Equipemnts will be carried from one city to another. Kindly assist me for any kind of LEGAL FORMALITIES in moving IT equipments.