My client being a Pvt Ltd Co.engaged in Manufacturing of Metal based Products i.e.Copper/Nickel Ferro Alloys Billets.Total Turnover is Rs.229.39 Lacs during the F.Y.2012-13.

Now query is whether Maintenance of Cost Accounting Records has prescribed by the Central Government for the said Industry & Product as per section 209(1)(d) of the Companies Act.this is required for CARO Reporting in Auditors Report.

Please reply earliest.

hello experts, i want to make an e1 sale. in this transaction the manufacturer is in mumbai, i will be the trader in coimbatore and my buyer is in hyderabad. i have the flwg clarification :
1) in the invoice issued by manufacturer do i mentioned myself as buyer and hyderabad party as consignee?
2) what documents will the supplier (mumbai) send with the trucks?
3) is there any way in which my price of purchase (from mumbai party) will not be known to my buyer (hyderabad party?

your advise will be highly appreciated and also i am looking for a consultant for this matter.

rgds / sujay shroff

A pvt. ltd. company sells goods to another company and charged Rs 40000 as frieght. However it actually pays Rs 10000 to transportation comp.
while paying service tax they calculate the tax on 40000. On enquiry they told that they considered themself as a service provider that is why they are paying tax on 40000 not 10000. Are they correct? or they should pay tax on 10000 as reverse charge

Is reverse charge applicable in Work contract services if the service receiver is LLP ???

Please solve my query regarding capital gain & exemption:
Q. In F.Y 2011-12, Long term capital gain is calculated as follows:
Long term capital gain on Gold : 10,00,000
Long term capital gain on House A : 20,00,000
Total 30,00,000
House B is purchased for Rs. 30 lacs
Less : Exemption u/s 54 (For House A) : 20,00,000
Less : Exemption u/s 54F (For Gold) : 10,00,000
Net Long term capital gain Nil
Now in F.Y 2012-13 House B is sold for Rs. 54,00,000 and House C is purchased for Rs. 90,00,000/-
Please tell me the tax treatment and whether exemption u/s 54/54F can be claimed for House C

Hi,

we are exporter and have charged courier in every shipment; now have to paid service tax or any liabilities on that.

please confirm

I have a urgent query. the issue is that the asseesee is a franchisee and is providing commercial coachin of computer software and hardware.Now the fees are not collected by the franchisee. The fees are deposited in the bank account of franchisor who retains 20% of the fees collected and then transfers 80% of fees to the franchisee's account. and this ratio is as per the franchise agreement

Hence, the franchisee has paid service tax on 80% of the amount recived by it. and the franchisor has paid service tax on its 20%. But the problem is that service tax dept is demanding tax on 20% also.

Kindly help me with this issue.

VAT of Last year i.e Oct 2011-March 2012 is paid in the current year i.e April 2012 so can we claim the expense in the Current year i.e F.Y 2012-13 ???

The Company is exempted from cost audit but is required to file compliance report under the cost accounting record rules 2011.

The Company secretary of the company is also a member of the institute of cost accountants. Can he sign the compliance report?

Whether he being the company secretary hinders the signing of compliance report as a cost accountant under whole time employment of the company?

Pls reply

Hi,
I am trying to fill the annexure J1 of one of my clients who is a proprietor co. However when i try to validate the same it throws an error of invalid number in the line number 8 of the annexure saying that the same is invalid. However when i check the TIN number it is correct. Can any one suggest me what to do in the same case.