Suhas Deshmukh
21 August 2013 at 11:07

Excise duty liability

Dear Experts

Our company is engaged in manufacturing of auto parts. In the FY 2012-13 we have exported goods worth Rs 50 lakhs to UK based firm under UT1 Bond (Without payment of duty). After some time span our company realized that UK based firm becomes bankrupt and the dues recoverable from them became doubtful.
Our management has decided to make provision for bad and doubtful debts in Balance sheet for FY 2012-13.
My question is that should we need to provide for excise duty payable on the export sale becomes doubtful? If yes, what will be nature of liability? contingent or non-contingent

Please help ASAP


ashok

DEAR,
I FILED RETURN FOR AY 2012-13 ON 10/07/2012 ON LINE, CPC ISSUED INTIMATION U/S 143(1) AND ISSUED MY REFUND ON 23/11/2012.

YESTERDAY I RECD A NOTICE U/S/143(2)FROM MY ITO KALYAN AND ASKED ME TO SEE HIM ON 2/9/2013 AND AS PER THIS ---HE WOULD LIKE SOME FURTHER INFORMATION.[NO DETAILS IS GIVEN IN THIS NOTICE].

SIR,
WHAT I HAVE TO DO NOW,WHAT DOCUMENTS I HAVE TO CARRY WITH ME, MY MAIN INCOME WAS SALARY AND BANK INTEREST.
PL ADVICE ME
THANKS
ASHOK


SADDAM

WHAT JOURNAL ENTRY SHOULD BE PASSED FOR GOODS RECEIVED AS FREE SAMPLE AND WHAT IF SAME IS SOLD FOR CASH


kritika
21 August 2013 at 10:56

Inventory

what entry to be passed for goods used for office purpose and not sold



Anonymous
21 August 2013 at 10:52

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Hi,

Power of attorney valid for below situtaion?

Is it possible to continue as an agent after Principal become met accident & lost Voice ( bedridden) etc.

Note:
This power of attorney exceuted between Brother & maried sister

Thanks & Regards
K.Madhusudhanan


rohit
21 August 2013 at 10:51

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WHAT IS THE MEANING OF
IN CONTEMPLATION OF DEATH OF PAYER OR DONOR UNDER 56{2}?

ALSO EXPLAIN TAXABILTY OF IMMOVABLE PROPERTY GIVEN AS GIFT?


Anil Ahuja
21 August 2013 at 10:51

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I have joined articles on February 25,2013. On 16 July,2013, i applied for termination. I Have posted form no. 109 signed by the principal.Even after 30 days i didn't got any response from the ICAI. regarding my termination of my articleship. Should i wait for some more time sir?



Anonymous
21 August 2013 at 10:35

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Jai Hind


NAGESH DEVIDAS HEGDE
21 August 2013 at 10:18

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My clienh has a fully furnished Hotel.This hotel is given on lease to a third party.Lease rent received shall be taxed under which heading? Please reply.


Maya Devi Bhat
21 August 2013 at 10:05

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Hi,

I had intitially registered for IPCC/ATC-Both groups in 2009, and could not clear any gropus as yet. Now that its 4years I am confused as to should I go for revalidation or conversion under direct entry.Could anyone suggest me as to which is good and about the fees and procedure?

Regards,
Maya






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