looking for somebody to opine on how does new GST regime impact the freight / logistics companies.

Dear All,

Would like to know whether Fabrication will attract ST? or VAT or CST ?
Office at mumbai and customer in other state.

Regards

In reverse charge machanism -: As you aware that reverse charges is applicable on ocean freight w.e.f. 01-06-2016. My query is that, our overseas agent has issued us debit note against ocean freight charges in USD.
But somewhat the USD amount is charged by Agent is more than the quotation. So, we've issued them debit note and get credit note against our debit note. Now my query is that, Shall we pay service tax on
reverse charges on the original debit note issued by agent OR shall we adjust service tax against debit note issued by us to agent.

For Example-
Debit note issued by Agent
Ocean Freight USD 4500@68 ₹ 3,06,000.00
------------------------------------------------------------------------------
Payable to Agent ₹ 3,06,000.00
------------------------------------------------------------------------------

Service tax on reverse charge
S.Tax @ 4.2% 12,852.00
Ed. Cess @ .15% 459.00
Sr. Ed. Cess @ .15% 459.00
-----------------------------------------------------------------------------
Service tax payable 13,770.00
-----------------------------------------------------------------------------

Debit note issued by us to agent against above debit note
(or you can say credit note issued by agent agent ag. Debit note of USD 4500)
Ocean Freight USD 1000@68 68000

So now, shall we pay whole amount of service tax i.e. Rs. 13770/- or pay after claiming cenvat credit on debit note issued by us to agent.

Hello All,

The Govt introduced Equalization levy on Advertizement Service received from Foreign Resident. Since Foreign entity does not allow you to deduct any amount from the service charge or mention it in the contract that all local taxes and fee shall be born by the service receiver.

So the receiver needs to deposit 6% equalisation levy from his own pocket. The foreign entity issues the receipt/bill for the amount it receives.

The problems are: -

1)How to treat it in the books of account?

2) Since we are not deducting said levy from the service charge, will it be allowed as an expense under IT Act?

3) How should it be calculated i.e. straightly applying 6% on said service charge or applying the concept of grossing up? (although there is a problem with grossing up concept which is, the amount mentioned in the bill/receipt.)

If a listed Company get a works contract from government than that will be exempt.but if company provide some works to more than one sub contractors. Is this Situation will be cover under MEN Entry no 29(h) and Exempt from service tax?
if Yes Pls Give the Reference of some case law which are applicable in same situation.....

For salary purpose How we bifurcate different heads and deduction mandatory as per income tax. please suggest me .

I have Completed Migration Process From VAT to GST.......

Now Query is what should i do in case of Service Tax , I have to follow Same procedure in Service Tax or I don't have to Migrate Second Time ?

Dear All,

Already have a business as Sole Proprietorship and would like to add new service in my business so can i do that and if i can do that then wether there is any procedure for doing the same like filing any form or paying prescribed fees or something ?
and i would also like to know wether sole proprietorship can be formed today or it is replaced by one person company?

Regards

Dear All,

My Client has lost his Acknowledgement no. due to which I cant download or trace the forms or challans paid.
kindly let me know how to get the ACK No. or download the same forms in some other way.

Regards

it is Compulsory to Go through procedure of Migration , if Assesse is Registered with any of the Earlier Laws , Even if Assesse is not having Turnover of 10/20 Lakhs ( Filling Nil Returns in Earlier Law ) ?