CA R SEETHARAMAN's Expert Profile

Queries Replied : 42506

I am a retired Executive Director/Finance of a Navratna PSU.

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Ram chandran says : Service tax
Seetharaman Sir, Wether Serive tax applicable on Sale of Movie to the TV Channel.? Thank you

Saurabh Saini says : TDS ON WCT
Sir, IF x ltd. issue an invoice to Y ltd of Rs.210000 for work contract. Material value 100000 work contract value 100000 Total 200000 VAT 10000 Invoice amount 210000 So sir my question is that, is tds is deducted on 100000(only work contract amount) or 200000 or 210000 by contractee? and can tds deducted by contractee be adjusted against output vat by contractor? Sir, I am so confused please help me.

dinesh kumar saini says :
what this will not cover as metered cab service exemption

gopal sharma says : Excise
Sir, We can not eligible to take credit due to currently we are not covered in Excise so , and we want to take a rebate or any exemption on purchase of CNC machinery, Because our supplier is covered in Excise and they pass Excise duty to us but we are not eligible to take a credit for the same so how we can adjust the purchase and sales transaction,The machinery base Price is more than 20,00,000/- and ++ excise so cost price is very high and we can't take a credit for the same so this is one type of cost on our head therefore i would like to requesting you that how we can purchase the same and let me know that there are any scheme for SSI Industries to purchase the Machinery without payment of Excise or any rebate etc. Kindly do the needful & oblige.

Harsh dedhia says : depreciation under cos act 2013
dear sir, how to calculate depreciation if the under WDV Method if asset is purchased after 01.04.14 for e.g. 29/08/14 the following treatment is correct or not?? mobile purchased on 12.01.15, therefore no. of days upto 31.03.15 is 79 & life of an asset as per companies act 2013 is 5 years so total life in days = 5years * 12 months * 365 days=21900 depreciation per day = cost of an asset i.e.17900/21900=0.82 per day * 79 days = Rs. 65 company is following WDV method