A commercial coaching centre supplies books developed by its own content developers/faculty. The cost of study material supplied is not charged seperately but the fee charged is inclusive of this cost.

Whether the cost of such study material may be deducted from the amount of fee to arrive at the taxable services and Service Tax is leviable on the net amount of Fee?

Hi all,

Kindly resolve the following problem:

Suppose X company received Rs.1 lac from Y company for the purpose of execution of taxable service. X company has approached to Y company that it is registered with service tax authority and need to collect and remit service tax. X company given an offer to Y company that Rs.1 lac will be the maximum billing inclusive of service tax. Y co. is not willing to accept this proposal. X co. has already deposited the the amount into bank. Now on 5th of next month what X co. will do?
1. Should it deposit proportionate s.tax?
2. It should not, because entire money is to be refunded to Y co. as Y co. is not agreeing with the service terms.
3. X Co. should wait for the time being without depositing tax. When the deal is final then it should deposit s.tax with interest.
4. Is there any provision in S.Tax that when full amount is to be refunded to the service recipient then no need to deposit s.tax on amount receipt in advance.

Thanks.

Dear Sir,

With reference to above subject I want to know about slum sale releating to income tax act




With best regards,



Vilas Choudhari

I didn"t understood
TRANSFER OF SHARES UNDER DEPOSITORY SYSTEM
PLEASE REPLY

THANX IN ADV.

it is my simple question to all where is the gratuity fund in the real sense
if a person gets retair where he will ask for the gratuity.

who will pay the employee the gratuity

where is the gratuity in the balance sheet

Wht is the role of insurance company in this gratuity


Wht u think is the Gratuity liability of company or an asset of it

answer the questions

it is my simple question to all where is the gratuity fund in the real sense
if a person gets retair where he will ask for the gratuity.

who will pay the employee the gratuity

where is the gratuity in the balance sheet

Wht is the role of insurance company in this gratuity


Wht u think is the Gratuity liability of company or an asset of it

answer the questions

Under Maharashtra VAT , a Works contract can be taxed in 2 ways
1) Ad hoc deduction 15% / 20% / 40% etc for labour and tax balance amount @ aplicable rate
2) Composition scheme where we pay tax @8%

If i am executing an Interstate works contract then how should i tax it?
Can i get ad hoc deduction for labour charges? if no should i pay tax on entire contract value?

Hi Experts,

If an Organization has purchased any Computer Software like Tally; PayPac etc. Can they treat such softwares as Assets for the Organization..?...... If Yes... Then what will be the depreciation rate on that..?

Also, What will be the prosidure of Physical verification of assets..?

Thanks,
Vijay

Service tax provides exemption on the amount of services provided by the assessee. If an assessee is below exemption limit, is it necessary to file nil service tax return. If assessee has not filed service tax return for say two to three years, can he cancel his registration? Can officer will ask for nil returns. Is there any penalty.

Dear All,

A company has received a composit bill consisting of professional as well as contractual nature .

Can TDS be deducted under sections 194C & 194J from the bill?

Is there any circular for the same?

Thanks and regards

K.Ganesh