Dear Sir,

I need to understand the way of charging VAT as well as Service Tax on Comprehensive AMC contract, wherein the bifurcation of materials (used or to be used is unknown) and the services is not available.
Can anyone help me out in this regard?

Hi,
pl let me Know how we can adjust excess service tax credit in accounts.
Case : Service tax receivable Dr. 100000/-
Service tax Payable Cr. 200000/-
payment Entry is :
Ser tax pay Dr 200000
Ser tax rec 100000
Bank 100000
but later on but before ST payment due date, if we found that we have taken wrong credit in accounts than what is the rectification entry.
shoud we treat wrong service tax credit as aother income or any thing else?

can anyone pls explain me what is share application money & how is it accounted

Dear Sir,
My co. purchased a car on 10/01/09 for and given to employee for his official use. Pl clarfy wheather it is commercial vehicle and if it is commercial vehicle that wheather 180 day clause would be applicable on that i.e. depn rate @50% of 25%.


Regards,

Sandeep Aggarwal

My final is due in nov 09, but due to some reason i will ot be able to appear in nov 09. I will be appaering in may 10.
I am not sure whether i should convert my self into the new course or continue in the old course.

I also heard that nov 09 is the last batch for old course.Please suggest.

My final is due in nov 09, but due to some reasons i will not be able to appear in nov 09 so i am thinking to appear in may 10. But i am not sure whether i should convert into new syllabus or should i continue in the old syllabus.
I also heard that nov 09 is the last batch for old syllabus, what should i do.

If land is acquired on lease to construct a plant on it, and commercial production has not been started. whether it is necessary to amortize the lease rental even if commercial production has not been started?

Wheather it can be capitalized instead of being amortized

Can a company purchase any asset in the name of director ? if yes, than what are it`s implications ( i.e.in claiming depreciation in income tax law or in any other law )

Section 145 of the Income Tax Act clarifies on the seperate disclosure of prior period items but doesnot specifically disallow it.

Is there no section that specially disallow prior period item? Please clarify on this matter

Sir,

We a residential school organisation have not filed any return in the present year 2008-2009. But we have deposit VAT on sale of materials to the students. Also we have not taken any credit against vat payable (materials purchased like......uniforms, stationaries, edibles etc.)My query is ...

1. Wether we can adjust the full VAT recoverable from 01.04.2008 tilldate while paying the VAT for the month of March 2009 ?

2. Now that we have not filed any return, what is the procedure to file the return in the last qtr...if this being the first return filed ?