Sir,
Our unit is availing exemption under notification no 50/2003-CE from the whole of the duty of excise or additional duty of excise in Dehradun and we are manufacturer of Read Made Garments. we are sending the goods for WASHING purpose to a unit who is also availing the exemption of 50/2003, means in the same area.
Service tax is exempted for manufacturer of Excise-able Goods.
Now the question is, washing process is amount to "Manufacture" or not and Service Tax is applicable or not. Please guide for the same.
Regards
R B Sharma
Hi all,
I have some issues regarding Partnership firm
audit and filing. As one of my client started
one partnership firm and in partnership deed clearly mentioned capital of firm is Rs.5 lakhs which will contribute by all partners equally. But partners contributed only Rs.2 lakhs. Is this have any conflict under income tax act or as per partnership act?. if yes, what is that?
Again in the same deed mentioned that Rs.5000 p.m is payable to working partners, as there are 2 working partners in the firm. Firm has not paid the salary to working partners as there is no income to firm.
1.Now can the firm claim this salary as expenses?.
2. what is the tax implications from partners point of view if already filed the return?
Thanks in advance
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Please advise me.
regards
jaytilak
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DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
Washing process is amount to mfg for garments?