Hello everyone
My query is regarding applicable rate of service tax.Suppose advance payment for a service is received in january 2009 at 12% and the same is paid to goverment.service is yet to be rendered in march 2009.What should be applicable rate?10% or 12%

As per my opinion and case of reliance industries ltd-2008 it should be 10
% as the point of levy is at time of rendering of services.please help.

Hello everyone
My query is regarding applicable rate of service tax.Suppose advance payment for a service is received in january 2009 at 12% and the same is paid to goverment.service is yet to be rendered in march 2009.What should be applicable rate?10% or 12%

As per my opinion and case of reliance industries ltd-2008 it should be 10
% as the point of levy is at time of rendering of services.please help.

WE HAVE PAID RS 250 PER MEETING FOR 6 MEETINGS. WHETHER THIS INCOME TO BE ADDED TO THEIR GROSS REMUNERATION FOR TDS DEDUCTION.

WE HAVE INCREASED THE AUTHORISED SHARE CAPITAL TO RS 1 CRORE BY CAPITALISATION OF RESERVES TO ENABLE ISSUE OF BONUS SHARES.

WHAT WILL BE THE MAXIMUM LIMIT TO FIX THE DIRECTORS SITTING FEES.

After forming Audit Committee is there any requirement to inform this to ROC. Is there any specified form.

when we transfer goods to job worker & he again transfers back such goods after carrying conversion processes(manufacture)....there Rule10A of Valuation Rules 2000 applies..
and the value of goods on which duty will be levied is the sale price by the principal manufacturer at that time

But if the principal manufacturer himself uses such goods and carries out manufacturing process on it then what will be the value on which duty will be levied??

The assessee does not maintain a detailed stock record. however monthly stock statement is given to bank for maintaining CC limit. The stock declared to bank is very high as compared to the actual stock (the stock declared is very high to maintain high CC level)....in such a case while auditing the books can we adopt an altogether different valuation than what is given to the bank? as mentioned earlier no stock records are maintained by the dealer....only record available w.r.t. stock is the statement given to the bank...can we entirely ignore that statement?

Dear all,

i have registered for PE-II in June 05. I haven't cleared my Test papers, hence i haven't received eligibility Certificate. Now I want to Pursue PCC. As the last attempt of PE-II is May 2009, thus i wont be able to clear 3 papers to go to PCC.

What should i do? Kindly suggest with your precious comments.

We are 3 brothers & 2 sisters. Our father purchased a ground for Rs.2500 and constructed house in 1977 and in 1995 additionally constructed a floor for Rs. 200000/-. He died in the year 1997 and we demolished the house and constructed 5 apartments in the year 2008 (October). Out of 5, we retained 3 flats for three brothers and sold the two flats to outsiders and utilised the consideration of Rs.2800000/- towards construction of all the 5 flats. Being allotted a small size flat I was compensated in cash to the tune of Rs.300000/-. Pl clarify what
is the capital gain tax on my part and if anything has to be paid, what is the last date for payment. - g.ramesh (rameshrohit65@gmail.com)

if we deposit excess service tax during the year, then can we adjust the excess paid with next year service tax liability?
or it is allowable to adjust only to quarter pertaining the same year? so is it better to adjust, if applicable or file for refund?