Example:
Suppose i had booked an export invoice for $100 and get the remittance in $ only.In the year i get a remittance of $92 (Short is received due to deduction of bank charges by the foreign remitter bank) against the above export invoice. Now if i want to take the foriegn exchange fluctuation than what is the base price? Whether i have to take foreign exchange fluctuation on $100 or only on amount i had received ie $92.

Please excplain with the reason.

my friend started new compnay, in that company paid Rs.300000 (p.a.) salary

Basic ?
hra ?
CCA ?
Conveyance?
spl allowance?
medical allowance ?

per month (send salary structure- best for employer & employee benefit.
In CTC how much percent (%) deducted on emplyee salary, and how much PT deducted
please suggest me urgent sir.

If in scrutiny,the stock declared by the assessee in the balance sheet is more than stock declared by the assessee in the stock statement submitted to the bank against cc account,what is it`s implication and what will be in case vice-versa.

I submitted my PcC form to ICAI branch of Ahmedabad(the WRO HQ is in Mumbai) on 19 march, 2008 after my articleship begun on 18 March,2008. 1 month is about to pass, but I have not received my PcC registration paers stating my Reg. No, my id, ETC.

I had attached the required draft and the required documents. But when I email to the WRO@ICAI.ORG; they aren’t replying…. If I am not registered by april , I wont be able to give exams in Nov’09.
I am really worried.

Cost Accoutancy

What is the proper technique of studying Cost accountancy in PCC? A senior told me that Cost Acc. Is complicated coz. “we have to take assumptions here and there in every numericals: the question maker will have made an assumption in mind and the student will have to be lucky to able to make the same assumption as the question-setter”.

The teacher in our coaching class has been teaching us only numericals. I recall, during our school days, we used to be first taught the foundation, the theory and then the practical.

What’s the proper and optimum technique?

Sir,
Today a CA(as well as a teacher) told his students in his class ; “that in today’s environment that students like us doing B.Com And CA shall take a package of meager 25k Rs/month.Passers who wish to get package like 5lakh(and above) per annum has to furnish some other professional degree like CS,LLb,M.Com etc”

I didn’t get what he meant. But to students like me, who has to manage B.Com as well as CA, this has set my heartbeat breaking records. What other professional degree is needed to get a good job that a CA(isn’t CA degree enough to get a CA’s job)? A B.Tech might need such qualifications if he wanted to get a accountant’s job?but why in the case of CAs?

I recall reading a statement by the ICAI prez recently that “No CA in this country are unemployed or underemployed”. But why did the person make such a remark? What is the truth……

Hi,

I have the following query:
GOI vide notification ref:

http://www.cbec.gov.in/customs/cs-act/notifications/notfns-2k7/cs102-2k7.htm

has announced refund of Additional duty of customs, on meeting certain conditions. Now, i am an importer-trader. I import goods which are liable for Addl duty of customs @ 4%. Should i add this as part of my inventory cost? Or should i treat it as a receivable?
(Please refer the above link for the full text of the notification)
My Doubt i cannot treat this as a receivable, as there is no certainty. I am eligible to file for a refund only on satisfying the given conditions.

If i load this with my inventory, Will I not be eligible to claim REFUND because of Principles of Unjust enrichment? (Sec.27 of Customs Act).

Please guide.

Thanks / Vijay

Hi,

I have the following query:
GOI vide notification ref: http://www.cbec.gov.in/customs/cs-act/notifications/notfns-2k7/cs102-2k7.htm

has announced refund of Additional duty of customs, on meeting certain conditions. Now, i am an importer-trader. I import goods which are liable for Addl duty of customs @ 4%. Should i add this as part of my inventory cost? Or should i treat it as a receivable?
(Please refer the above link for the full text of the notification)
My Doubt i cannot treat this as a receivable, as there is no certainty. I am eligible to file for a refund only on satisfying the given conditions.

Please guide.

Thanks / Vijay

Hi all, I'd like to know the following. A senior Citizen for for the assessment year 2006-2007 had a refund of 18000 Rupees. He filed return of income within due date i.e 31st July 2006

Now It is April 2008 and he still has not refund. I want to know

(a) Whether Refunds are automatic? I mean Just file return of Income and if there is refund the Dept will give automatically

(b) Should any extra form be filed. A senior told me that form 30 should be filed. But in my office I dont remember filing it

(c) Can we file it now? I mean is there a time limit or something

(d) If we file it now, are there extra documents we should attach?



Thanks for your help

One of our clients get basic raw material from it's customers....they further process the material by galvanising it...hence they get covered under Business Auxillary service...

Now this client has come to know from his fellow job workers in the market that they are paying service tax of 12.36% only on 30% of the billed amount that is they are availing abatement of 70%...Please remember there is no seperate billing, there is only a single invoice raised showing how many pieces galvanised....Their contention is that since alimunium is used in galvanasing the service tax is not payable on such use of alimunium....

Hence i would like to know from you if there is such a provision in the act which can be availed....I am unable to find any such provision and believe that 12.36% is payable on the entire invoice raised.