For Investment company, shares and securities lying in stock, what will be valuation norms as on balance sheet date ?

What are the taxes that are leviable on Operational Lease of Medical Equipment? Give the nature and the percentages applicable?

Plz provide a format of resolution for closing a bank account of hte comp.

We are the manufacturers of the A C Generators (Alternators), D C Motors and Wind Generators. In order to manufacture these goods we have to use electrical stampings, and these Electrical stampings are manufactured & supplied by our Job workers out of the Steel Sheets (raw materials) supplied by our Suppliers on our behalf i.e on Consignee basis. Since the Steel sheets (raw material) are directly delivered by our suppliers to our job workers premises, Job workers are entitled for availing the Cenvat Credit on such goods and availing the same.

Further, during the course of manufacture of Electrical Stampings, Steel Scrap is also generated as a by-product; the job workers are discharging the Excise duty both on finished goods i.e Electrical Stampings as well as Steel Scrap and sending back to us, since we are the owners of the entire material. On receipt of Electrical Stampings, being our inputs we are availing the Cenvat credit on strength of our Job Worker Duty paid document. Similarly, we are also availing the Cenvat Credit on Steel Scrap received by us, on the strength of our Job Worker Duty paid document.

Now, the Department has raised an objection, that we are not eligible to the take the Cenvat Credit on Steel Scrap which sent back by the job worker. The department is denying the Cenvat Credit on steel scrap; since the Steel Scrap is not an input for us


Now, my question is whether STEEL SCRAP GENERATED & CLEARED FROM THE JOBWORKERS PREMISES ON PAYMENT OF DUTY AND THE SAME IS RECEIVED BY THE PRINCIPAL MANUFCATURES is eligible for Cenvat Credit or not. If there are any case laws on the above subject mentioning of which may be of great help.

Soft ware developed in banglore registered office and sold to govt department delhi, shall we put vat or cst in the taxation column, now cst is also reduced from 3% to 2% but vat is same for sale of software @ 4%.

Sir, can i get the details of which are the expenses liable to pay fringe benefit tax and its percentages.

Sir, can i get the details of which are the expenses liable to pay fringe benefit tax and its percentages.

I have purchased a property and the some of payemnt was directly paid to seller by my brothr through his bank account and regisration of property was made in my name. What we (Brothers) should do as per IT rules .

What is the penalty if the Tax audit is not funished to Income tax department in due time

A PLAIN READING OF CENVAT CREDIT RULES SUGGEST THAT THERE IS NO NEED FOR AN EXCISE PAID INPUTS TO BE CONSUMED IN ORDER TO TAKE CREDIT ON CLEARENCES EFFECTED BY A UNIT. IN OTHER WORDS THERE IS NO ONE TO ONE CORELATION BETWEEN CONSUMPTION OF INPUTS AND AVAILMENT OF CREDIT FOR CLEARANCES OF FINAL PRODUCTS IS MY CONTENTION RIGHT?