WE are 100 Cr manufacturing company . we are proposing to appoint internal auditors.so we require top 10 internal audit firm in zone of Mumbai with their fee structure and Work area.

if anybody having this details plz forward this on following e-id:
sanjaybkadam@gmail.com / sbkkadam1980@yahoo.co.in

Hi,

I am having a peculiar problem in my accounting. Recently my company registered for Excise and now is charging excise on all manufactured/sold goods as we are a manufacturing company.

Now I have setup 3 diff excise duties namely BED,ECESS,SAHCESS.
While entering the sale voucher, I do the following:
1. Enter as Invoice
2. Select Sales ledger as SALES CST 2% (since our major sales are outside Haryana)
3. Enter name of item, qty and price
4. Select BED @14%,ECESS,SAHCESS
5. Now when I enter CST Tax head for 2% the tax is calculated on the sale amount w/o excise but not on the amt with excise.

Example: if sale value is say 1000 then BED-140, ECESS-2.8, SAHCESS-1.40, CST@2% is calculated as 20 and not as 22.88.

But if I do the vat entry then the tax is calculated as 22.88

Also when I am preparing the sale tax reports the sale amount for CST should be 1144.2 but it shows as 1000 only for CST but for VAT reports it is 1144.2

Please let me know where am I going wrong.

Hi all,
A company Bltd has outsourced services(say 100 employees) and has only 2 employees on roll.Benefits such as transportion,mobile phone,foreign travel etc are met by the company Bltd.Will these expenses fall under the preview of FBT though it has only 1 employee on roll?

Our compnay is engeged in road construction as well as mining sector.We were paying service tax on mining activity.
Upto last year our compnay was not maintaing the seprate records of input and consumption.Hence we were paying the service tax by utlizing the CENVAT credit @20% of service tax payable and remainign in cash. So till 31-3-2008, we have very huge balance in CENVAT credit having mix of taxable as well as exempted input service. Now from 01-04-2008, service provider has to opt weather he is to maintain seprate records for taxabale and exepmted service. We have opted to maintain seprate records for taxabale as well as exepted services. Now my question is what would be treatment of Opening Balance of CENVAT Credit? Can we use for payment of service tax or we shoud write off the same or use only 20%

Delay in furnihing e-filling(ITR-V) acknowledgement with department. Will it atract penalty provisions? Please answer as early as possible.

For example:
yr1 yr2 yr3 yr4 yr5
MAT 100 100 100
Normal tax 0 0 0 200 100

Can we sett off the payment of MAT in yr 1 2 3 with yr 4 & 5.

whether a company can accept advance against share capital even if its authorised capital is fully paid up ?

Can a director who has attracted disqualification u/s 274(1)(g) be eligible for reappointment in the same company (i.e is defaulting company)?
(Should reasonable or literal interpretation be followed)

Dear All,
my query is regarding accounting of UPS & batteries, which are purchased for use when electricity is going down. it is right to accounting of ups in computer head.

PLease clarify can we sett off the payment of minimum alternate tax with the normal income tax. if yes then in how many years we have to set off our payment of MAT.


vikash