Kapil Sir,

Im having difficulty in preparing the information technology subject from padhukas/study material. I have heard that j k shah notes are very good. Since i dont stay in mumbai, i'm not able to arrange for those notes. Is it possible to email me ?

Thank u.

hi all
my attempt is in may 09 . but i have not prepared for it yet ... i am thinking of giving just 1 group . if i give the xamz grp wise i will be said to have passed pcc in second attempt . so should i go for all at once in nov 09 and leave this attempt .
coz i think in future when 1 goes for job first attempt pass are given preference ....

my prepration is as follows
cost ... 70%(tution goin on)
acc 65% ( coaching over)
law(done company law and indian contract act)
audit(35% done)
IT and strtgc mgmt (nt touched)
income tax ( coaching goin on )

do i have a chance of giving both groups in may '09. i am in b.com 2nd year whose xamz are in april starting 1st week


so plzz guide me .

If an excisable unit (x) carries out job work for exempted unit (y)on the material supplied by y to x. Whether x would be liable to charge excise duty or service tax on job work. If excise duty is chargable, whether the transaction value would be material cost supplied by y plus the job work carried out by x. If service tax is applicable what would be transaction value.

VAT or Service Tax

A newly incorporated firm is engaged in Advertising Agency Business (i.e. making and preparation). It designs and prints flex hoardings for its clients. It has an annual turnover of around 12 Lakhs.

The purchase bills for raw materials are of 4% and 12.5% VAT items (obviously, the firm had to pay vat on purchase) eg, it paid 4% VAT on purchase of Flex, 12.5% on purchase of clips etc. My questions are:

1. Does the firm, being an advertising agency, need to file VAT Return or Service Tax Return.

2. If the firm needs to file service tax return and charge service tax to its clients, then on what value should the tax be calculated. (Whether the cost of raw materials consumed should be considered for computing service tax or should be excluded...as the cost of all the raw materials cannot be bifurcated precisely e.g. ink used in printing)

3. Can the firm enjoy the VAT input on purchases. If yes, how?

4. What will be the best way to record purchases and sales in the books of accounts (plz give specimen entry)

5. The firm has already got VAT Registration. In case VAT is not applicable, what should be done in present circumstances.

Should an advertising agency charge service tax on the interest charged for delayed payments?

Also should an advertising agency charge service tax on the interest on loan given?

Purvi

In case of change in company name of a Private limited company, what compliances needs to be done as far as Excise Act is concerned ?

In case of change in company name of a Private limited company, what compliances needs to be done as far as Income tax , PAN, TAN, etc is concerned ?

Can you examine from a service tax angle the following proposition:



A Company will contract with local vendor ( contractor) who will provide Human Resources -
These resources will go onsite and work on the Company's client locations -

Contractor will invoice the Company for the cost of resources in INR- local sales

Company will invoice in US$ the onsite Company's entity at cost plus statutory markup- export sales


Questions:

Can the contractor avoid invoicing the Company without Service tax since the resource is working Onsite ( deemed export ?)

Can the Company take duty credit/refund for the service tax paid on the contractor bill, since it will be exporting these services?

Can the Company utilize the service tax paid on contractor bill for adjusting with service tax liability on Import of Other services – ie on Finance Shared Service Centre, payroll etc.

Waiting for an early reply. with good example if possible

A newly incorporated firm is engaged in Advertising Agency Business (i.e. making and preparation). It designs and prints flex hoardings for its clients. It has an annual turnover of around 12 Lakhs.

The purchase bills for raw materials are of 4% and 12.5% VAT items (obviously, the firm had to pay vat on purchase) eg, it paid 4% VAT on purchase of Flex, 12.5% on purchase of clips etc. My questions are:

1. Does the firm, being an advertising agency, need to file VAT Return or Service Tax Return.

2. If the firm needs to file service tax return and charge service tax to its clients, then on what value should the tax be calculated. (Whether the cost of raw materials consumed should be considered for computing service tax or should be excluded...as the cost of all the raw materials cannot be bifurcated precisely e.g. ink used in printing)

3. Can the firm enjoy the VAT input on purchases. If yes, how?

4. What will be the best way to record purchases and sales in the books of accounts (plz give specimen entry)

5. The firm has already got VAT Registration. In case VAT is not applicable, what should be done in present circumstances.

Dear Members,

An MNC client (German base) has paid towards membership fees for 20 years to golden palms hotel . Whether the same should be expensed on payment basis or amortised over a period of 20 years

Thanx in advance
C A Tejashwini