if a manufacturing concern is using its own product for extracting another product does vat apply to them

Respected sir,
i am having a query regarding the sale to franchaisee, the details are as follows.
Rs.
1. sale 100000
less: vat @ 4% / 104 4000
Net sales 96000

7% comm on net sale 6720
service tax on comm 831
reimbursement 80000
octroi 2000
total deduction 89551

net recievable 6449
(i.e. net sales -
total deductions)

further clarifing that the above amount we are recieving per month from franchaisee.
with the above information i want to know that
1. is it service tax is chargable on 7% commission & if it is yes than under what service head.
2. is i have to deduct tds on Rs. 80000/- monthly reimbursement.

Respected sir,
i am having a query regarding the sale to franchaisee, the details are as follows.
Rs.
1. sale 100000
less: vat @ 4% / 104 4000
Net sales 96000

7% comm on net sale 6720
service tax on comm 831
reimbursement 80000
octroi 2000
total deduction 89551

net recievable 6449
(i.e. net sales -
total deductions)

further clarifing that the above amount we are recieving per month from franchaisee.
with the above information i want to know that
1. is it service tax is chargable on 7% commission & if it is yes than under what service head.
2. is i have to deduct tds on Rs. 80000/- monthly reimbursement.

WHETHER A UNIT ORIGINALLY FORMED AS EOU IN F.Y.2003-2004 CAN AVAIL DEDUCTION UP TO F.Y.2009-2010 ?

If I have raised bill for electroplating to a customer in which I have not specifically charged VAT but charged service tax & VAT on the net amount, is it correct to deduct tax at soucre?

Hi All,

Kindly provide suggestion for the following situations for deducting professional tax:

1. An employee works till October 2007 during the FY-2007-08. Employee left the company without any intimation.
Therefore, the company terminated the employee from their payroll, only in December 07. (Salary not processed during the period of leave)
For the purpose of computation of gross salary for professional tax,whether the salary for October and November 2007 is to be considered?

2. If the employee is in leave for the period October 2007 to January 2007 (Salary not processed during these period), whether professional tax is to be deducted?

3. Employee received salary for the period October to december 2007. He is in leave for the period january 2008 to March 2008. When will be the professional tax deducted for the half yearly period October 2007 to March 2008?

Thanks and Regards

V.S.Sugan
(E-Mail: v_s_sugan@yahoo.com)

India Have 28 States & 7 Union Territores, I want to know that what is the Procedure of each State for Way Bill (Road Permit Challan) Requirement. Suppose any Company Registered in Haryana VAT ACT. So as per Haryana VAT ACT 2003, if Company received Material from Outside Haryana and material cost is more than 25000/- than VAT-D-3(ST-38-Inward)Road Permit Challan required. Same case appllicable if Company material send to Outside the Distt. & State and Material value is more than 25000/- than VAT-D3 (ST-38 Outward) Form required. Without VAT-D3 Challan the company can not movement of goods as per conditions. So What is the form/challan required in other states & UT for movement of goods from one state to another state.

XYZ PVT. LTD. HAS ENTERED INTO AN LEASE AGREEMENT WITH ABC.LEASE PERIOD 60MONTHS(2lacs*60).EVEN IF THE LESSEE WANTS TO TERMINATE IN BETWEEN CO HAS TO PAY RENT FOR BAL LEASE PERIOD. AFTER 12 MONTHS XYZ LTD WISHES TO TERMINATE THE AGREEMNT.THUS WAS BINDING TO PAY THE LEASE RENT FOR BAL PERIOD OF 48 MONTHS(2lacs * 48).AFTER NEGOTIATING THE LESSOR AGREED TO TERMINATE THE AGREEMENT WITHOUT CHARGING ANY PENAL RENT FOR BAL LEASE PERIOD PROVIDED THE CO. WILL NOT BE COMPENSATED FOR THE FURNITURE WORK DONE(60 lacs) AND THE DEPOSIT(5lacs) WILL NOT BE REFUNDED.
QUERRY:-
1.UNDER WHICH PROV OF THE IT ACT THE ASSET CAN BE DELETED FROM THE BLOCK?THERE ARE OTHER ASSETS IN THE BLOCK.
2.IS THE TRANSACTION LIABLE FOR TDS?IF YES, A) What should be the amount?(penal rent or book value + depoit)B) Under which section 194I or 194C?

Hi,Plz tell me abt the BEST coaching institutes for Final (New course) subjects. And which are the best Books apart from ICAI material for preparation.