Fact : Assesse has been providing Clearing & Forwarding Agent Services to a Manufacturing company and earning commission on total sale month wise and at the rate mutually agreed upon. Assesse is also entitle for the incentives if certain condition satisfied ( surplus sale then agreed upon) as per one of the clauses of the agreement.

Query : Whether assesse is liable to pay service tax on the amount received other than commission amount mutually agreed upon i.e.incentives. Kindly quote the relevant judgement if any you have.

If an assessee forgot to account asset purchased in the books and return than can he account it in the next year or not?

We manufacturing Tractors for agriculture purpose as well as supplying the Tractor Parts to our customers from our Spare Parts Division situated in the same premises on one registration no. in Central Excise Department from 1st June-06 under cover the notification No. 14/2008-C.E.(N.T.), dated 1.03.08. Tractor is exempted for the payment of Excise duty and the “Parts, components and assemblies of any automobiles “are liable to pay the duty.

For the fulfillment of purpose of supplying the ‘Spare Parts of Tractor’ to the customers, we procure the material from the supplier’s in our “Spare Parts Division” those who are supplying the material to our Tractor Manufacturing Plant also and sale those parts to customer after availing the Excise duty credit paid on them through our Dealers and Stockiest after discharging the Excise duty on the basis of MRP declared under cove the above said notification and The Standards of Weight & Measures (Packaged commodity )Rules, 1977.

Most of all suppliers are discharging the Excise duty on their Transaction Value and declaring the same time on the Invoice “ Exclusively for Industrial use as raw material “ and some of them are on the MRP.

Some times we procure the material from the suppliers those who are not registered with Central Excise Department or may be they are availing the SSI exemption, means ( they not charge the duty while supplying to us).

My Query is –
1.Can we clear the parts purchased (without availing the duty credit) without charging the Excise duty to our customers? or,
2.Being deemed manufacturer ultimately we have to discharge the duty or not.
3.In case of suppliers who are discharging the duty at their end on the basis of MRP on their own, can we break the MRP label and fix our MRP?.
4.Those who are discharging the duty on transaction value at their end, are they doing the right practice or what should they do ?.
5.Is the Tractor Accessories are exempted for the payment of excise duty as per the above mentioned notification?.

OR

What is the right procedure, we can follow ?

Dear All, Experienced

Pls. Clarify, it would be great help to us.

Regards
Sanjay Sharma

WHAT FORM F MEANS & IT IS WRITTEN ON THE PURCHASE BILL IF PURCHASE IS ON CONSIGNMENT.

How can we master the final course?

till date 31/03/2007 my company has specified name and from 01/04/2007 it merge with its another group co. .. now we are receiving many tds certificates for Accounting year 2007-08 in our old name .. can we get claim or what should be solutiono...all customer has already informed about change but still few are making mistakes..

Dear Sir,

Depreciation as per books is Rs1.40lacs and as per Income Tax Laws is Rs1.50lacs.

On RS 10,000/- (ie 1.50-1.40) DTL is created @33.66% am i right in doing so?
Shall i create DTA in respect of the same

Method followed for Depriciation in book is WDV

Regards,
Pratik

Hi,

our is partnership firm and we are paying rent of Rs. 200000 to individual
please tell me how much % we need to deduct tax
thanq

Regards,
praveen

Dear sir,
i just want to know that can i carry forward Serive tax liabilities like that service tax cenvet credit.
example
i have first month 100/- liabilities of serive tax in that month i have 90/- cenvet credit
in next month i have 90/-liabilities of serive tax in that month i have 100/- cenvet credit
in that situation can i 10/- service tax liablilites of first month use of second month of excess cenvet credit ..........

please reply soon........
Vikram Bharuka

Will there be any problem if there are clerical errors for example wrong cheque no and wrong month in TDS certificate issued to landlord in respect of TDS deducted on rent.