Dear Forum Members,
Please answer my following queries
Q-1 How to value finished goods stolen from the factory(because such stolen is treated as deemed removal and remission under Rule 21 is not availbale)?
Q-2 A company providing taxable services is registered under ST Law ......Now the company has become liable to pay ST as per reverse charge mechanismn under Rule No. 2(1)(d) of Service tax Rules , 1994. My question is that should the company apply for ammending the registration?
1. No remission of duty in case of theft, theft is not an 'unavoidable accident' and if owner has not taken proper care, he is liable to pay duty.
2. No need to amend the registration, he can pay the duty on reverse charge mathod on available ST registration.
| Originally posted by : Arun Kumar Singh | ||
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1. No remission of duty in case of theft, theft is not an 'unavoidable accident' and if owner has not taken proper care, he is liable to pay duty. |
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Which valuation rule will be used for the purpose of working out the Assessable value ....pls expl briefly.
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