Rupesh Jain's Expert Profile

Queries Replied : 10183

My self Rupesh Jain, Doing practice in income tax, vat and service tax .

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Nikhil Jain says : VAT Reversal -In Case of Excess billing
I have received a PO on 24-03-2013 for 100 Tons of Steel at Rs.40 per Ton and Vat at 5% thereon. However at the time of raising Invoice (27-03-2013) I have done Billing at the rate of Rs.42/ton .The Customer has debited me for Rs.2/per ton and Vat thereon . I have raised a Credit note for the above on 31-12-2014. Q.1- Is Vat reversal available for the above . Q.2-What is the time period for reversal of Vat -In Case of Excess Billing. Q.3-Relevant Section and Case Law for the same . Kindly help.

Sai says : Regarding Form C
We have made an Interstate Purchase against C Form in May 2014 and that was not filed in May and within the 6 months period. Now our supplier is asking for C Form . We have entered Interstate Purchase for May 2014 and if we enter the CST @ 2% when we file VAT Form 100 for Dec 2014, is there a possibility of Generation of C Form keeping Invoice details as mentioned in may 2014 and the date of Generation as April 2015?

rohan nilesh gandhi says : partnership dissolution
what is the procedure for dissolution of partnership firm

Meet Thakkar says : CAPITAL GAIN ISSUE
MY RELATIVE HAS PAID 1CR TOWARDS A PROPERTY PURCHASE IN 2011 TOTAL PURCHASE VALVE IS 4.5CR WHICH IS TO BE PAID LATER . HE HAS RECEIVED A LETTER OF ALLOTMENT FOR THE PROPERTY...NOW IN 2013-14 HE HAS SOLD A FLAT AMOUNTING TO 2.5 CR AND WANTS TO KNOW WHETHER IF HE CAN PAY THE BALANCE OF 4.5CR -1 CR = 3.5CR FROM THIS SALE PROCEEDS OF 2.5 CR FLAT AND CLAIM EXEMPTION U/S 54/54F...PLEASE HELP AND COMMENT ..ALSO TRY TO SITE SOME CASE LAWS OR CIRCULARS IF POSSIBLE