Dear Experts,

I have a query related to Cenvat Credit on gift vouchers.

There are 4 category of persons in a transaction.

A-Bank
B-Agent of Bank
C-Vendor
D-End Customer (Also customer of Bank)

D being loyal customer of A, gets certain points / vouchers which can be redeemed with C for purchase of goods or availing a service.

A has appointed B as agent to look after all such transactions and has a Principal -Agent relationship.

B has entered into agreement with C, so that C bills B for any voucher redeemed by D. In turn, B bills A and seeks reimbursement for the same.

Other Points:
1. No where under the bill, A's name is mentioned.
2. B does not have any margin in reimbursement. It raises a separate bill for its fees.
Issue:
1. Whether Cenvat can be availed in such case where buyer is end customer, but payment is made by Bank (A).

2. Suppose, in any transaction, Vat is also levied if the end customer purchases goods, can input tax credit be availed.

If yes, by whom and under what provisions.

What will be the scenario, if the agreement is Principal-Principal basis?

Suppose we have taken a loan of Rs. 100Cr for Capex Purpose @ 10% .

That loan could be used to the extent of Rs.75 Crs only. Rs. 25 Crs is being invested in Mutual Fund and we got a return of 15%. Then what is the Interest amount needs to be capitalised

a.) Int Cost Rs.100 Crs *10%= 10.00 Crs
Less:Income on Invt
Rs.25 Crs*15%= 3.75 Crs
Net Borrowing Cost to be = 6.25 Crs
Capitalised

b.) Int Cost on Rs. 75 Crs = 7.5 Crs.

Had it would be suppose income on investment exceeds Rs.10.00 Crs (Total Int on Borrowings) then whether this income (Net of Interest) on investment needs to be deducted from cost of Fixed Assets.

Dear All,


In our SHERI(socity) we celebrate every fastivals and we also sale verious sweets on different fastivals... and the contribution is collected from the every resident of our sheri(socity) and the sale procedings are maintained in the funds of the sheri. Where all transaction are in cash.
and now we are deciding to form a legal firm . So plz guide about what kind of formation we should follow, a TRUST or an AOP or a BOI or a SOCITY..and also the procedure for the formation of the same

Sir/Madam,
I would like to know how is G. NATESAN & Co for Articleship.

Dear Sir,

For one of our client(proprietor), i have filed Form 3CB,3CD & Income tax return on 7/10/13. In Form 3CB i have taken audit report date as 7/10/13 instead of 30/9/13.
Would it be a problem? Will any penalty be attracted?

i want to take transfer from articleship during my 1st year of articleship in same city but my boss is not ready to sign the form. what to do?

I have downloaded TDS return (rpu version 3.7 and fvu 4.0) filing software from site tin-nsdl.com and now i am facing a probleum that while feeding the data for form 26Q sec 194I is not refeclecting there for feeding
what to do now please suggest.

I heard that there is no need to file the TDS nil return (both 24Q & 26 Q for q.e Sept'13..Is it true?? please clarify..

should tds be deducted by an indian co for receiving professional service from a foreign co? The service is rendered outside india. if tds deductible, thn under what section?

Hi Sir,

Can you please send me the format of Board Resolution to change the name and address of the company.

Thanks.