Mr.X consultant for foreign based firm. receives Rs.90000 every quarter.What are the consequences of TDS ?

This is Ajith Kumar ( Head - Purchase ) from SPEL Semiconductor Ltd., Chennai.
We are a 100% EOU working under EHTP scheme registered with the Designated Officer, Software Technology Park of India (STPI), Chennai. We have the membership of Export Promotion Council also.

We are in need of expert advise with regard to reimbursement of excise duty paid on Fuels procured from Depots of Domestic Oil Company.

In this connection, please refer to the Policy Circular No.37 ( RE-2005)/2004-2009 dt. 5th Dec'05 issued by the DGFT .

As per the above mentioned circular , fuels procured from the depots of domestic oil companies on payment of excise duty by EOU/EHTP/STP/BTP will be eligible for reimbursement in the form of terminal excise duty in addition to drawback rates notified by DGFT from time to time provided the recipient unit does not avail CENVAT credit / rebate on such goods.

We would like to inform that we have been procuring High Speed Diesel Oil (HSD) from the depot of Indian Oil Company , Korukkupet, Chennai, on payment of applicable excise duty for the past few years. We have already filed some refund claim with JDGFT, Chennai, for terminal excise duty paid by us based on the above mentioned circular since we are not availing any CENVAT credit / rebate on HSD.

Unfortunately our refund claims were rejected by the JDGFT , Chennai office stating that we are a 100% EOU and advised us to approach Development Commissioner, MEPZ, Chennai. In this connection, please note that we already filed refund claim with Development Commissioner, MEPZ, Chennai , and they also rejected our refund claims highlighting that our unit is not coming under the jurisdiction of Development Commissioner, MEPZ, Chennai, as our registration is with the Designated Officer , Software technology Park of India (STPI) , Chennai.

STPI also made it very clear that they are coming under Ministry of IT and they do not give any refund.

We filed our refund claim with excise department, DC-MEPZ-SEZ- Chennai and JDGFT , Chennai and every body rejected our claim.

At this juncture, we would like to know who is the competent authority to sanction this refund claim and to whom we should file our refund claim for the terminal excise duty paid at the time of procurement of HSD Oil.

R Ajith Kumar ( Head - Purchase)
SPEL Semiconductor Ltd,
5, CMDA Indl. Estate,
MM Nagar ( Near Chennai)
Tamilnadu - 603 209
Tel : 044- 47405 411
Cell : 99400 49181
e-mail: ajith@spel.com
web: www.spel.com

HI,
THIS IS AGAIN SREEKANTH.CAN I GET ANY AMENDMENTS ABOUT PE2 GROUP1 CONDUCTING IN MAY 08 .PLZ, ABOUT HOW MANY ACC STANDARDS& THEIR AMENDMENTS ,ANY CHANGES IN COMP LAW/BUSSINESS LAW OR COMPANY AUDIT. PLZ TELL ME SO THAT IM GRATEFUL 2 U.

hi sir hemant t dewani one of my friends has passed cpt in august 2007 n he has also got pass certificate but he has failed 10+2 in march 2007 can he register for pcc after passing 10+2 in march 2008 or he should write cpt again pls answer sir

Dear sirs

Our client is a works contractor. For completing the works they uses the material purchased from outside as well as those supplied by the contractee.

For availing exemption under notification No.1/2006 ST Dt. 01.03.06 is it necessary to include the value of material supplied by the contractee ( as free of cost ) in the bill raised by the contractor.

Is there any disqualification in availing the exemption under this notification because of the use of material supplied by the contractee.

We are a partnership Firm, We are providing Services of Cable T.V Net work, In purchase / pocurement of services, we pay to M S O (Multi System Operator not a Broad Caster ) we are purchase services from them and sell it to retails customers through wire/cable, In this situation whether we have to deduct tax for Bills of MSO who merealy give us signals through Cable/wire and charging Monthly subscription (say 200 per point) Please let us know whether we need to deduct tax and in which categories?

Whether Vat & CST will be included in Sales Turnover for the purpose of Audit u/s 44 AB (i.e Exemption Limit of 4000000)

My article ship training have started from dt. 20.12.2006. when by Final Attampt Due..

Please Help me

Now service tax has to be paid on Rent.
I want to know whether TDS has to be deducted on rent plus service tax or excluding service tax?

The Company is currently raising capital from Institutional Investors and has incurred, or is likely to incur various expenses such as,
- Payment made to an intermediary as commission
- Expenses incurred towards increasing authorized capital
- Stamp duty for agreements and share certificates
- Consultancy fees paid for carrying out due diligences on behalf of the investors
- Legal fees for drafting documents

We need to know the accounting treatment for the above expenses.

1. Should these expenses be charged off in the current year itself.
2. Are we allowed to carry them over as Differed Revenue Exp and charge off over say, 5 or 10 years?
3. Is the entire spend allowed as deduction in a single financial year, or even for Tax, one is only allowed a partial deduction? We would also like to know whether our treatment in Books of Accounts impact our tax claim?