MANOJ
15 February 2017 at 10:53
Dear Sir
Please guide me as to whether vat credit is available on tractor & truck.The use is for business & not as passenger motar car.
This is because no vat credit is generally available on purchase on motar car.
Please quote any case law ,notification etc,
Thanks
Prasanna Simha
10 February 2017 at 19:04
Hi All,
One of my client has used a place for rent to shoot a serial for a channel. Rent is paid along with service tax from my client. Channel has reimbursed only the rent part. Since, my client has bonafide paid the service tax, has claimed input on those rent expenses. Now, the department is of view that:
01. My client cannot claim input on rent paid by him.
02. All reimbursement of expenses incurred on behalf of channel, later reimbursed by channel are to offered for service tax.
03. Even special / promotional episodes are also treated as income, where my client has made a expenditure on behalf of channel and later got reimbursed.
Whether the point of view of department is correct? Can this be litigated? All these expenses are prior to March 2015.
Bhagwan das
11 March 2016 at 01:11
In 2014 June andhar & Telangana separated
And we open our branch in andhra and Ho at Telangana and we transfer stocks from Telangana to branch in Andhra And sales done in Andhra and we paid output tax and input tax is 0 now Telangana commercial tax officer restricted stock transfer and put
Tax labity on stocks transfer .what his obligation is thst we are taking input in Telangana where we purchase locally and sending stock transfer to other state and paying VAT their so Telangana govt loseing VAT. Pl advice us any act to clearly on this.
CA Ronak Jain
14 February 2016 at 12:09
Please Help, I had applied for the trust and the trust is registered as Religious Trust Due to Religious Trust we are unable to get 80G exemption Certificate . We carried out charitable activities during the last three to four years. 80G exemption was rejected on the basis on some objects of Trust deed . After this rejection we communicate with Alibag Charity Commissioner and given application for remove religious object. The Assistant Charity Commissioner Raigad Region, Alibag Passed the order and accepted the changes. As per me IT Officer (Exemption) should consider the changes and accept the trust as charitable. But the officer told to terminate(cancel) the trust and form a new trust. My doubt is new trust will have same trust name and even pan number will be same. I think trust should be amended rather than cancelling and forming new trust. Please help me by any section or case law to proof
Sachin Gole
30 January 2016 at 22:18
Respected experts,
My car was stolen in May 2015, the insurance claim was settled after 8 months of mental torture and harrasment.
My car was 14 months old when it was stolen, I had renewed the policy after 12 months and the idv was 80% of initial ex showroom price.
I had done some partial payment of my car loan hence idv was more than my loan outstanding amount with the bank.
The insurance company had a weird requirement of receving loan closure documents before the claim could be settled which bank was not comfortable with.
I had no choice but to close the loan by arranging for the loan outstanding amount and then finally received the whole of claim settlement amount in my account.
Could you please help me understand if this claim settlement amount of idv would be taxable as per IT laws.
Logically the idv of a car can never be more than the depreciation value of the car. but wanted some expert suggestions on this matter.
Please feel free to reach me on sachin0103@gmail.com in case you need additional details pertaining to this.
Appreciate your guidance on this issue.
Regards,
Sachin Gole.
Sundaresan
21 January 2016 at 10:06
Dear Sir,
We have engaged the contractor who is a non resident to west Bengal state vat tax act.
The contractor mainly does civil, plumbing, interior, electrical supply, laying & installation works at the property owned by us towards renovation.
In this regard we are deducting
works contract tax as per the applicable section of the WB vat act.
In this scenario,whether the purchase tax will be applicable , if so this will be liable in the hands of the contractor or to the person(company) who is owning the asset .
surajit manna
15 November 2015 at 15:25
Dear Sir,
we are filling ER - 3, so Can we are liable to file the return ER - 7 ? pls mention the notification also .
Regards
Surajit Manna
Nookala Subrahmanyam
06 October 2015 at 09:28
Recently EA 2000 audit was conducted, the audit officer has pointed out that one of the entry of excess credit taken in April 2014 amount, and asked us to reverse the cenvat we have done the reversal in Sept 2015. In review meeting Commissioner (Audit) advising the audit officer to demand of penalty under 15(1) of CE rules and interest. This rule is not retrospectively amended, how could they demand u/r 15(1).
Further we have been maintained the balance of amount in our cenvat account. It is very clear that the cenvat availed but not utilized. Hence, there was no question of interest. Experts please comment on this.
Please comment on this
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Under sale of goods by distributor - cautions needed
Sir,
My friend is a distributor for a MNC Company products, wherein certain discount to the tune of 40 % needed to be given to some customers regularly thereby creating an Under sale situation.
And the company would provide additional stocks to the tune of discounted amount at zero value. This is creating a VAT calculation problems.
Kindly advise what precautions needs to be taken to continue to be in this business.
regards.