1. Excise duty before the registration is it allowed to take cenvat credit ?

2.can you please provide me the excel formats
of RG 1, RG 23part1 & part II

3. if the company is having the enough cenvat credit is it necessary to maintain a PLA?

4. Excise duty on the spare parts purchased for the maintenance of machinery, is it eligible for cenvat credit under input or in capital goods?

Yours

Under the Income Tax Act Individuals can compute their taxes either on cash basis or on accrual basis.

Still why is it that many people get into the process of computation of accrued interest on their NSC certificates held and take that into account while computing their yearly taxes?

They take accrued interest on NSC under the head - Income from other sources and show the same as deduction u/s 80C.

Is not it simpler to only show the interest earned during the year of maturity of NSC as income from
other sources in the year of maturity of NSC?

i am interested in joining the big 4. i am interested in audits. i have written my CA final exam in May 08. Now i am in search of industry training.i have also finished by CS.
I have cleared all my exams in first attempt.

I heard that they do not take students for industry training until you have a reference in that MNC.

Please reply to vidhyagovan@yahoo.com

1. Can we take the Cenvat credit on service tax paid for freight outward ?

2.What is the documentation procedure for availing Service tax credit?

3. Can we set off against the service tax payment if we have a positive balance in Excise duty and Customs duty credit.?

4. Can we claim the service tax paid on the house keeping contract to maintain the factory premises as clean?

5. Service taxes paid before the registeration is it eligbile for Cenvat credit ?

i want to know the exact procedure through mca 21 or filling with Roc. Documents involved in it

Dear Friends,

Please clarify the following

1. While reversing the ITC, is it necessary to exclude the Capital Goods ITC portion?

2.e.filing of monthly returns - who is eligible ? is it based on the volume of tax payments to the department

3. For eg Good purchased within the state for the purpose of manufacturing @12.5 % tax rate and goods will be sold to interstate @4 % against C form. Please explain me how to reverse the ITC ?

4. For the Sales of EOU /SEZ /Merchant Exporter , is it necessary to reverse the ITC and claim the refund from the department? or instead of claiming that shall we do the non reversal is it permissible.

5. If the manufacturer is an EOU can they claim the ITC for their inputs ? What is the procedure to do that?

Yours

Dear Friends,

Please clarify the following

1. While reversing the ITC, is it necessary to exclude the Captial Goods ITC portion?

2.e.filing of monthly returns - who is eligible ? is it based on the volume of tax payments to the department

3. For eg Good purchased within the state for the purpose of manufacturing @12.5 % tax rate and goods will be sold to interstate @4 % against C form. Please explain me how to reverse the ITC ?

4. For the Sales of EOU /SEZ /Merchant Exporter , is it necessary to reverse the ITC and claim the refund from the department? or instead of claiming that shall we do the non reversal is it permissale.

5. If the manufacturer is an EOU can they claim the ITC for their inputs ? What is the procedure to do that?

Yours

THERE IS Majore difference in Opening Balance between Party & Company Ledger for the F.Y.2007-08 Like :-

In Party Account :- Our Balance is DR. 47,000/- Somthing

In Company Account :- Party Balance is CR. 4,00,000/- Something.

The Problem is we submitted our Income tax return for the A.Y.07-08 [F.Y.06-07]

Now what should We do for matching the Balance

THERE IS Majore difference in Opening Balance between Party & Company Ledger for the F.Y.2007-08 Like :-

In Party Account :- Our Balance is DR. 47,000/- Somthing

In Company Account :- Party Balance is CR. 4,00,000/- Something.

The Problem is we submitted our Income tax return for the A.Y.07-08 [F.Y.06-07]

Now what should We do for matching the Balance

I have a query regarding application of section 50B i.e. Slump Sale. Where an asset transferred, is one on which cenvat credit has been availed by the transferor in the year preceding the year of transfer what will the treatment of credit that would have been available otherwise had the asset not been transferred u/s 50B in the hands of the transferor Co or can it be availed by the transferee Co. As it has been provided that the unabsorbed losses and unabsorbed depreciation can not be carried forward by the transferee co. and only the transferor Co. can carry forward the same.
Now I want to know whether the Capital Asset on which Cenvat has been claimed or can be claimed is a depreciable asset for this section.
If yes, then what will be treatment of Cenvat Credit which can be availed, (i) if the asset is transferred u/s in the year of purchase, (ii) asset is transferred in the second or subsequent years.
Also as per Cenvat Credit rules, 2004 the cenvat on capital asset can be availed only if the asset is in possession of the person. Whether the possession here means the possession throughout the year or a case in which person held the asset at any time during the year will also be considered for the same.
Please reply urgently.
Thanks in advance