One of my client is establishing a plant for processing of mineral. The plant will start commercial production only after 01st of July 2017. Currently they are procuring and installing Capital Goods. As per my knowledge there is no excise duty on processing of minerals.

My query is whether to take credit of excise duty and CST paid as CENVAT and Input Credit of CST and carry forward the same into GST so that the assessee can take credit of CENVAT and CST into GST? Will it be possible to take credit of CENVAT and CST in GST? Let me tell you that the machines shall be purchased from out of state of Rajasthan.

A consumer imports in India a Camera from an e commerce web site which is based in USA. The website in USA has arrangement with an Indian Company to act as a facilitator for clearing these goods from Custom, collect payment on behalf of the website and remit it to their bank in USA. Will VAT be charged if any ? If yes on whom consumer or facilitator or US website?

I Want to know about service tax charged on invoices if I have registered ST-2, but My Service provider business last year & Current year, not excess 8 Lakhs. In this situation, I have raised invoices without service tax.

Pls tell me above invoices raised without service tax is correct or not.

hello Experts,

Can the below mentioned treatment in Balance Sheet is sound for any Proprietorship Business (No tax audit):

Liabilities:

Opening Capital 20,00,000
Add: Current Year profit: 4,00,000
Less: Loss on Sale of Part Business: (3,00,000)
Less: Loss on Sale of Fixed Assets : (20,000)
Less: Drawings : (10,00,000)
__________ 10,80,000

Loss on Sale of Part Business : Assessee has sold his major loss making unit.
Loss of sale of FA : Assessee has also sold some of its depreciable assets at a loss (i.e below its wdv)

Now i need your advice on this, can we show these losses in balance sheet like this ?
As if we treat these losses to be in P & L, the same should ultimately affect the capital, with a Current year net loss.

Thanks & Regards,

My articleship has completed in 2011. Cleared IPCC in Nov.,2016 attempt.
In between years I was at home. I will continue studies for CA final. At the same time I want to get good practical experience, knowledge & income.
me
Please guide me how do I explain this big time gap in my CV & how do I select good Job.

I Sold Goods to unregisterd Dealer And I Have a ITC .

Shall i adjust my ITC against vat payable to unregisterd Dealer ??
Reply as early as possible

Respected Sir,
I am applying for pan for private limited company.My question is what will be status in coloumn 10 of Form No.49A
Whether it is Artificial Juridicial Person or Company

Dilip Phatak

hi my name is prakash jha I passed my ipcc both group in Nov 2016,it is mandatory to register in final course right along with my articleship........ some one pls help me I can't understand what to do know....

Hello Expert, In last attempt i.e. Nov 16 I scored 65 marks in advanced accounting IPCC Group II thereby securing exemption. But this attempt I am not going to appear for rest of 2 papers , so my question​is that would exemption be claimed in next 2 attempt​or else I have to appear for 2 exams. Please do needful.

due to finance problem seller sold property on less than FMV. Property SALE Value Rs. 20 Lacs but stamp value Rs. 80 Lacs and stamp duty paid on Rs. 80 Lacs by purchaser. Sales deed Rs. 20 lacs. my question is any liability on Purchaser regarding any Taxes.