A manufacturing company buys some input item which is subject to VAT. A part of this input is used by the company in manufacturing a product which is not subject to VAT but to earlier Sales Tax. The company makes other products which are subject to VAT.

Now please provide your professional views on the manner in which the company shall compute the VAT credits that should be reversed for the product that is not under VAT. The company cannot do this on the basis of input/output ratio because that is complex and unascertainable.


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A manufacturing company buys some input item which is subject to VAT. A part of this input is used by the company in manufacturing a product which is not subject to VAT but to earlier Sales Tax. The company makes other products which are subject to VAT.

Now please provide your professional views on the manner in which the company shall compute the VAT credits that should be reversed for the product that is not under VAT. The company cannot do this on the basis of input/output ratio because that is complex and unascertainable.

One of my client planning to start a private limited company. It is a group of 10 people. so now l am facing problem as there are 10 promoters but in Form 1A there is space for 7 promoters only so what should i do now.

I am a LLB degree holder & persuing my Ca final to be appearing in Nov 2008. Can I apply for sanath & if yes do I need to intimate to ICAI

Can a C.A & L.L.b degree holder apply for
both COP (for C.A) & sanath (for L.L.B).

Thank you

Kindly provide me details of the folowing case (sec 12A/12AA) Sanjeevamma Hanumanthe Gowda Charitable Trust v. Director of Income-tax (Exemptions) (2006) 285 ITR 327 (Karn)

Trust Deed of a Public and Charitable trust did not describe as to what will happen to the assets remaining at the time of its dissolution.
Can registration u/s. 12A / 12AA be disallowed on this ground?
The income-tax authorities, allege that lack of such clause shows that the trust or its objectives of public and charity are ingenuine.
Further, can such claused be inserted by a General Body Resolution.
Please suggest

i am doing PCC. can any one suggest me that, whether we require to any other course along with ca. does it matters when u finish ur CA. if yes which course will be better with CA.

Regrds
Veda.

Private Comapny is not maintaining records of plant and machinery. Company is selling a machinery and dont know the original value of the machinery. So we can take depriciation proportionate. For example: Gross block of machinery as on 01.04.2007 is Rs.8241558/- and deletion during the year is Rs.539400/- and depriciation upto 01.04.2007 is Rs.7110896/- and Net Block as on 01.04.2007 is Rs.1130662/- How to take proportionate depriciation on this given value. Please reply soon

hi
how should we vouch & verify customs duty?
someone pls guide me.

hello friends..
i am doing audit of co.who has not reversed the credit availed on purchase of goods when these r returned
so now as an auditor what should i do?
bcoz all types of vat returns has already been filed by co.
n what will b the solution now
as an auditor,whether i should make it correct or
what to do?