Shilpa Rani
12 January 2009 at 16:14
If anyone who is jobless and living with money from his parents...will he also need to file taxes...i mean the person without income for the whole year coz of health reasons he did not work...does he need to pay income tax for that year..
sudalaimuthu,
11 January 2009 at 13:46
hi friends,
Plz clarify that if i am procuring materials for construction of wind mill for generation of power for running of machinery in the manufacturing of goods for sale, wheather i can take ITC(Input Tax Credit Claim) under Tamil Nadu VAT Act.
and what is the position in this regard in the other states Acts.
rajesh
04 January 2009 at 15:36
I got works contract for supply and errection. I purcraised invoice in favour of contractee as transit sale ,the contractee issued c form to me and i also got e-1 also .the contractee deduct tds @ 4% from supply portion .I claimed refund from sale tax deptt . the officer says it is not a sale in transit. The contractee gave smae goods to me which i errected . In this situqation who should pay tax of state . and is this not a transit sale?
vishwanath
03 January 2009 at 00:22
Dear sir,
In karnataka quarterly C forms have to be filed by the end of next quarter. notice have been served for failure to file c form for the year 2007-08. i think orders will be passed by next week confirming levy.
My query is can the c forms be filed before appelate authority. under the earlier sales tax regime i used to file the same before appellate authority who inturn accepted it as there were no due dates for filing c forms earlier and were filed at the time of Assessment.
but now as the its mandatory in law to file quarterly c forms by the end of succeeding quarter, can the appellate authority accept the forms against the provisions of the statue. if not wat is the remedy
Ram Kishan
02 January 2009 at 22:02
DEAR SIR,
IS IT NECESSARY THAT ARE-1 SHOULD BE ENDORSE BY CUSTOM OFFICE FOR EXPORT WITHOUT PAYMENT OF DUTY OR ANY OTHER SIMPLE PROCEDURE IN WHICH ARE-1 ENDORSEMENT IS NOT REQUIRED PL. TELL ME.
THANKS
RAM KISHAN
Ram Kishan
28 December 2008 at 22:06
How we should removed material with duty or without duty for job work. Please tell me the procedure for job work. What is the best way to remove material for job work.
Thanks
Devi Prasad Ruia
28 December 2008 at 21:38
Facts:The Company (C) has entered into a notarized Agreement in Deember 2006 landlord (L) for construction of a building on his land in 70 : 40 ratio. The Broad terms are as follows:
1. Ground floor as commercial and Area of 5 existing shops will be deducted from landlords share on ground floor.
2. 1st floors to 3h floor as residential flats (more than 12 units)
3. The construction of the building is being done by company by engaging daily construction workers
4. The Company will buy 1000 sq ft from Landlord @ Rs. 400- per sq. ft. and has already paid Rs. 4lacs in advance to the landlord .
5. Landlord has executed Registered power of attorney in favour of one of the Director of the Company for execution of sale deed in favour of Purchaser’s of Company’s alocation
6. The total Super structure is complete
7. So far Company has not entered into any agreement for sale and intends to use booking form for booking of flat and after full payment to execute final Sale deed in favour of would be purchaser.
Queries
LANDLORD’S Allocation
1. Whether any Service tax is payable against the landlord allocation
2. under which section
3. Rate of ST
4. Quantum of ST
5. Date of Payment of Such ST
DEVELOPER’S Allocation
1. Whether any Service tax is payable against the Company’s allocation & Purchase of 1000 sq ft. by Company from Landlords Allocation
2. under which section
3. Rate of ST
4. Quantum of ST
5. Date of Payment of Such ST
Ram Kishan
28 December 2008 at 12:33
As per service tax act service tax to be deducted on 25% value of Goods Transport Agency bill and can take credit after deposit the service tax amount if make transfer sale. My question is can we utilised cenvat credit to pay service tax amount on Goods Transport Agency?
thanks
ramkishan
S. Krishnamoorthy
16 December 2008 at 20:49
My company has been the service provider for a MNC Bank. The bank deducted the TDS on our bills at the normal rate of 2+%. This year they have been deducting the TDS at enhanced rate of 12+%. Consequently, the TDS on receipts and the advance tax paid by us will be more than the tax liability. This necessitates huge refund by the IT department. Can we approach the ITDept to permit the deduction of TDS at a lesser rate so that in the remaining months the TDS amount would be less and would also reduce the refund liability by the IT dept. If yes, what is the procedure? To whom to approach? Is there any format or form prescribed for the purpose? I shall be grateful for a reply.
S. Krishnamoorthy
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input tax restriction / Works Contract or not
dear Sir,
one of my clients under karnataka Vat Act are running a lead processing industry where scrap battery is subject to processing and a semi finished product ie lead is got which is sold.
1) My query is i have been claiming input tax credit on scrap batteries @12.5% which is paid by me on purchase. wheras the lead processed is taxed at 4% and thereby i claim refund every month of 8.5%. my question i am doing anything wrong or is there any part of input Tax which i have to restrict or not to be claimed in such cases.
2) My another query is if the said industry undertakes Job work ie, raw materials/scrap battery is supplied by another industry in Tamilnadu and our clients process the same and supply the processed lead (out of the raw materials supplied) back to them. I know it does not amount to sale. but my question is does it amount to works contract.
The requirements of processing other than raw materials are 1) Labour 2) Electricity 3) Chemicals 4)Fuel(charcoal, firewood etc).
Since raw materials is supplied by another industry and as we know labour does not attract sales tax. and further treating fuel and chemicals as consumables. can i remain without paying taxes stating the work as pure labour work/job work
OR does the chemicals and fuel used are deemed to be transfer of property in goods, therefore should i pay taxes, treating it as works contract.
However the chemicals are used to vary the quality of lead ie by adding certain quanties of chemicals, the quality of lead differs ( pure/ average etc)
Note: Only raw material is supplied by Another industry. Fuel and chemicals are to be purchased by us locally.
3) my third query is am i eligible to claim input tax credit (ITC) on fuel and chemicals if the above (query No 2) is a pure labour work.
waiting for your reply sirs,
vishwanath