Dear experts,
We have running the business activity in Trading and also provide the Interiors & Decorators Service. Further, we have received the various input services like clearing & forwarding agent, transporter by road, telephone, courier, chartered accountant, insurance, banking etc. and paid the service tax thereon. Please give me advise, How can take the cenvat credit on input service, in that case books of accounts are not separate maintain for Taxable Service or Non Taxbale Service (i.e. Trading Activity). Whether credit is eligible in that case 20% or 100%

Doubts in VAT returns – we are submitting VAT 200 every next month 15th day, for July 31 we raised 5 invoice but one is approved in time (August before 15th ) reaming invoice are approved after the submission of VAT 200 monthly returns – How can I show that balance invoice in VAT returns? (Should I submit revised VAT returns for July or shall I take that balance 4 invoice in this month VAT Returns August month. (Our sales are completely exempted sales so we are not paying sales tax) Please suggest.

In the payment of Insurence First Premium made on 28.03.2008 by cheque which is realised on that date.

But the Insurence cover & Policy issued on and from 30.04.2008.

If we taken into account, the premium for deduction u/s.80C for Asst.Year 2008-09 or 2009-10.

pls, clarify.

Sir

We have not deducted TDS in 2007-08 for one of party. Now we deduct the TDS and deposit the same with interest.

Please suggest whether we should revised our earlier returns of previous return or put the amount of TDS in current year /Quarter return.

Regards
Yogesh

I would like to understand how Rounding off is to be done for Education Cess.

My understanding is that All Excise duties as well as cess amounts should be rounded off to the nearest rupee.

Suppose there is an excise invoice for items whose Assessable Value is 7320.

14% Excise duty = 1024.80 (1025 when rounded off).

Should i calculate Education Cess of 2% on 1024.80 (1024.80*2/100 = 20.496, rounded off to 20) or should i calculate Education Cess of 2% on Rounded off Excise duty of 1025 (1025*2/100 = 20.50, rounded off to 21).

I am confused what is the correct education cess that should appear in the invoice. Should it be the one calculated on the unrounded off excise duty or should it be the the one calculated on the rounded off excise duty?

What is the point of view of law regarding this? Can anyone provide any reference?

I could not locate any reference as to how the cess should be computed. If anyone can point me in the correct direction, it would be great.

Thanks in Advance.

Best regards / Vijay

What is the guideline for issuing Preference Shares in Private Limited Company (Limited by Shares) and in Limited Company (Limited by shares) as soon as possible.

It is urgent


Thanks & Regards,
Mukesh Agarwal

During the last we have deducted tds from a party and not paid to the dept.by mistake.We have already filled tds returns for other amounts what we have deducted other than one party. Now the party asking for TDs Certificate.

Please suggest me solution

hai,

i am working as project secretary in a private firm and getting 8000 per month.

i attempted for cpt exam in june 08 and got through that

now i have to join in articles where i will get low pay. can anyone suggest me how to solve this means can there be reduction in number of months doing articleship(at least for pcc) after that i will leave the job.

Another thing is while doing CA can we do any other course like MBA, ICWA because i heard that we should not do any other degree with this.

any please let me know

thank you

Hi,

I know that if we have not deposited TDS in time, the same will not be allowed as a deductible expense. However, I have information which says that if TDS is deposited before filing of the return, the expense will be allowed. Wanted to know any document/ section/link etc. which clarifies the same.

A Company obtained a loan of USD 500k from one of its group of companies in UK in contravention of the notification Notification No.FEMA 3 /2000-RB dated 3rd May 2000. The Company approached RBI to condone this. Would u pls help me in knowing the max penalty/fine,the company will face in this matter.

THIS WAS URGENT FOR ME