Dear All
Iam accounting a propritery manufacturing company (SSI)the firm purchase raw material & sale finish goods.The diff in sale & purchase tax is paid as vat.

the firm has purchase a machinery can the propriter take setoff on vat paid on machinery.

The Firm purchase oil for machinery if i account oil as direct expenses can the vat paid on oil be clamed.

the firm purchase rawmaterial from Interstate can the CST paid on purchase adjusted against vat payable.

Regards

please tell me what's the date of payment under VAT act if we are paying monthly and quarterly through DVAT20 challan. and what is the penalty if tax not paid on time.
and also provide the full information of debit and credit note under the same act with accounting treatment.

when the result of CA PCC will likely to be announced by ICAI??

don't speculate pls.....

Please advise us on the following:

There are two Public Limited Companies viz. Company A and Company B.
Mr.X is a Director of both these Companies and holding 50% of
shareholding in Company B.

To make Company B, a subsidiary of Company A, Company A want to purchase
the majority of shares held by Common Director in Company B at the price
arrived by Statutory Auditor.

The above transaction is within the limit prescribed by Sec.372A of
Companies Act and Company A passed unanimous resolution at its Board
Meeting.

Whether approval under Sec.297 or any other section of Companies Act is
required.

can any one provide me any section or case law(s) for establishing the fact that "passing of a resolution does not create any legal obligation on the company"

which losses are covered under section 72 as business speculation losses??

IF TDS IS DEDUCTED ON BEHALF OF GOVERMENT THEN THERE IS A PROVISION THAT IT SHOULD BE DEPOSITED ON THE SAME DAY WITHOUT ANY CHALLAN FORM. ( WHAT IS THE SIGNIFICANCE OF THE WORD WITHOUT ANY CHALLAN FORM .)

SECONDLY WHAT IS COVERED IN GOVT. UNDER THIS CASE.( WHETHER A SOCIETY 100% FUNDED BY GOVT. WILL BE TREATED AS GOVT.)

what will be consequences if any director of the copmapny be absent form the three or more than three consequtive board meeting.................?

When we are filling up Form 32 of a pvt. Ltd. Company with ROC for appointment of a Director it asks for the category of Director i.e.whether Promotor, Independent or Professional. Please guide us about these category explaining which category to be selected and when.

Can anyone tell me the minimum period for which industrial training can be pursued and the formalities to be complied with the institute regarding the same?

Thanks