Bhaskaran Chackrapani Warrier's Expert Profile

Queries Replied : 22307

Graduate of Kerala University.

Fellow member of ICAI.

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Kunal says : Company Incorporation
Sir, if a foreign national is subscribing to AOA & MOA of an Indian company (executing abroad). The subscribers pages must be Notarised + Legalised?

Prabha Vasist says : VAT & Service Tax
Proprietary firm registered under KVAT in Bangalore as a dealer for 5% & 13.5%, currently having an annual turnover of Rs.20 lacs p.a., submitting monthly returns based on the sales done, has now bagged an Work Order of 19 lacs to be executed in 3-4 months time at Pondicherry. This W.O. is issued as per Works contrat of POondicherry on the basis of 70% of the value at 4%VAT & balance 30% subject to Service Tax. The local KVAT involved in the purchases would be only Rs.15K. The rest of the purchases would be made at Pondicherry itself, to avoid transporation cost. Now, the query is how do we bill to the customer, as the KVAT applicable is 5% here in karnataka? The bill has to be raised as per the completion of the work, which may run to 5-6 bills as per the phase of work. Should we raise each bill based on 70% value subject to KVAT & the amount so charged remitted to VAT Authority, though no/ liitle local purchases are made? Service Tax will not be charged as the Proprietor firm has an exemption upto 15 lacs. Please clarify urgently.

Jaipal Singh says : Urgent please
Good evening Sir, Please give your valuable coments on the below linked query its urgent plesae http://caclubindia.com/experts/liable-for-service-tax-reg--456510.asp Thanks in advance regards, Jaipal

Sudha says : regarding CA course
Respected Sir, i've attempted twice for pcc exam but due to my continous ill health i couldn't clear the exams and had to terminate my articleship.......d ques is will it matter during placement d no. of attempts i have appeared or no. years i took to complete my articleship.& d city i'm serving

pawan says : sir, can u help me?
a pvt. Ltd. co. having 2 director shareholders. both contributed Rs. 50000 to equity capital each and lended unsecured loan to the co. Rs. 2 lakhs each. accumulated losses are about Rs. 5 lakhs. co. not in position to pay off both. on winding up of co. the loss of both shareholders in their individual capacity can be claimed as loss for calculating IT? under what section will it be for loss of share capital and loss of unsecured loan lended to co.? further, if company write off the unsecured loans, will it be treated as income for the company? if yes is this income can be set off against accumulated losses?