Aditya Maheshwari's Expert Profile

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I am a Chartered Accountant in practice in Mumbai in the field of Direct Taxation, Audit, Company Law Matters and LLPs.

My motto in life is "Prepare for the worst and expect the best"

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CA Aditya Maheshwari

B. Com., A. C. A., DISA (ICAI)

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Abhishek Agarwal says : Sir, Please help on this query
There is an US company (X) with a big brand like Adidas which gets its products manufactured in India from many licensed manufacturers (Y1, Y2) for itself. This company (X) is introducing its products in India now and for that they will appoint one Master Distributor (Z) in India. Z is not a sister concern of X, Y1 or Y2 in any manner. Z is an independent Indian Company. Z will sell products of X in India by various retail formats. Z will pay to X 20% over and above the purchase price paid by X to Y1/Y2 after the sales are effected in India. US Co. (X) wants to purchase goods from (Y1, Y2) for India as well and wants these goods to be sent directly to Z for further sale as Y1, Y2 and Z are all in India. X will raise a Purchase Order to Y1/Y2 of USD 1000 to make goods. After the goods are manufactured Y1/Y2 will send the goods to Z and X will pay USD 1000 to Y1/Y2. Z will receive these goods on behalf of X in India from Y1/Y2 and will sell these goods in India at USD 1500. As per agreement, Z will remit USD 1200 to X now (USD 1000 plus 20%). Remaining USD 300 is Z’s share. Y1/Y2 will prepare the sale invoice in the name of X and X will prepare the sale invoice in the name of Z. All prices are at arm’s length.Y1/Y2 manufacture goods for other companies and brands also. Z sells products of X only. Questions: 1. Will the sales made by Y1/Y2 qualify as export sales from India? 2. Will the purchase by Z from X be considered as imports into India? 3. Is it possible that Y1/Y2 get export benefits but purchases by Z do not come under imports? 4. What will be the tax implications on Y1/Y2 and Z?

Yogesh Sonar says : about 80G & 12 AA exemption
Hello sir I have information about 80G & 12AA Exemption to as Indivdual & also who is NGO registered under 80G & 12AA.

asim kanrar says : TCS on scrap
if a trader(iron & steel) sale scrap to another trader it is necessary to collect tcs on such sale? when the trader(iron & steel) purchae scrap from the manufacturer the manufacturer collect tcs on such scrap. Plz reply.

Aarav jain says : articleship
sir.......i cleard ipcc 1st grp...i want to ask u is how many leaves are allowed in aricleship period (in 3 yrs) as per ICAI. and leave taken for ipcc 2nd grp exam will b counted in those leave period...pls reply