We purchased some parts For Rs, 30000/- and paid labour charges rs. 5000/- and got a single bill for Rs. 30000+Sales Tax And Rs. 5000+ Service tax.

I have to deduct TDS on which amount or do not have to deduct TDS. pls clarify

From 28-09-2008 onwards a declaration in stamp paper stating the evidence of payment of stamp duty is a mandatory attachment to Form 32 in case qualification shares are taken by Directors. What is the value of such stamp paper. Whether subscribers to the memorandum should also comply this requirement.

In the financial year end , some customers bills are not yet settled and we are showing these as sundry debtors in asset side. The service tax in respect of these bills will be received only in the next year. Now in the present balance sheet how can we show it since these amounts are not at all due to us or government because after receipt only government due arises.

Next year after receipt, what is the journal entry for those service tax recipt and remittance to government.

Kindly clarify.

Dear Sir,

I am working in a foreign ship (Shell Co , UK). As per the contract I shall join duty as and when the company requires and i shall be paid salary in US dollars even when i do not work. The salary is paid through their agents in Kochi, Kerala.During the financial year 2007-08 i was in India. During the financial year 2008-09 i will likely to be in India for more that 182 days. Kindly help with regard to the following.

what will be my residential status?

Whether the amount which i receive in US dollars as salary when i am in India is taxable?

Regards,
Priya

Sir,

That the company has SSI unit at Greater Noida (U.P.) and received subsidy through investment grant under intergrated development of leather sector scheme (IDLSS) from Govt. of India toward purchase/ installation of machines.

I want to know how I should account for and pass the entries of the amount of incentive received. This incentive is taxable or non taxable.

machinery cost of Rs.30.00 Lacs, Incentive received Rs.9.00 Lacs i.e. 30% of cost of machinery. please calculate the written down value of machinery and depreication

Sir,
requested you to resolve the query urgently because this query relate to financil year 2007-08

with regards

AMRIK SINGH

Hello,

Is is possible to availe and utilise credit on CST . Please provide me the details of section and and example(CaseLaw)


Thanks in advance

CA Tejashwini

MR.A HAS BEEN APPOINTED AS ADDITIONAL DIRECTOR ON THE BOARD OF ABC LTD ON 12TH SEPT 2008. MR. A HAS FILED HIS CONSENT TO ACT AS A DIRECTOR, IF APPOINTED, ONLY WITH THE COMPANY. WHETHER HE IS ALSO REQUIRED TO FILE HIS CONSENT WITH THE ROC?

hi,
i had joined a ca firm at 22 feb 2006. i have been taken transfer from said firm at 22 june 2008 with total leave 156.

as per institute latter,my total EXCESS LEAVE till 22 june 2008 is 41.

therafter i have joined a company at 1 july 2008 as industrial training.

please suggest me that when my training get complete. am i eligible for industrial training as minimum number of period for IT is 9 months?

We are importer of Computer Hardwares. We pay following duties of cutoms on value of the imports.

Counter vailing duty
Additional duty of custom
Duty handling fee
Education cess
S.tax 12.00 %
Education cess 2.00%
Higher education cess 1.00%

We sell these products in India after charging VAT on the same. We also provide services in connection to installation of these components to the client and charge separately for that alongwith Service tax.

We want to know that Can we claim the benefit of any of the above custom duties paid against the service tax and if yes, under which head?

We have also come to know that we can pass on the benefit to claim the CVD to the customer if we raise the CENVATable invoice. This invoice can be raised only if we are registered under Central Excise Act as ‘First Stage Dealer’. Please let us know the procedure of registration and implications of the registration. What all are the records that we need to maintain if we register as First Stage dealer? What are the other related rules for ‘First Stage Dealers’? and what other benefits/disadvantages are there? What all returns are required to be filed after registration?

Can my customer claim CVD back in cash or he can take only set-off against the excise duty/service tax? Do we need to disclose the original import invoice to our customers? If he customer is in SEZ who does not have any duty liability, can he claim the CVD back in cash?

Is there any other way, such as at the time of importing we can directly endorse the invoice in the name of customer and he can claim CVD back?

If the Hardware Components purchased by the customer is capitalized by the customer, then what is the accounting treatment he should do? Can he claim depreciation benefit on the whole amount of capital purchase? And claim duty ?

Does he have to claim duty in phases over 2 years (i.e. 1st year 50% and rest in 2nd year?)

Is there any other harm in claiming duty back, such as if we do not claim the benefit of credit, we get depreciation deduction under income tax @ 33.99% of depreciation amount?

Is there any duty of custom that we/our customer can claim back? What is the rationale behind giving back this credit by the government?


Please answer this as soon as possible.... It is very very urgent.

Hi Expers...

Suppose X has incurred expenditure on behalf of Y and made a payment to Z in respect of expenditure indcurred.

Then expenditure is reimbursed by Y to X.

Now problem is that who will deduct tax at source.

a) Whether X is liable to make TDS from payment to be made to Z

or

b)whether Y will make TDS from payment to be made to X....

Who has to comply with TDS provisions...

Thanks