Answer / pooja

GOODS AND SERVICE TAX

What is goods and services tax (GST)
GST is a broad-based consumption tax levied on the import
of goods, as well as nearly all supplies of goods and
services in ABROAD. The only exemptions are for the sales
and leases of residential properties and most financial
services. Export of goods and international services are
zero-rated. In some countries, GST is known as the Value
Added Tax (VAT).

How does GST work
GST is a self-assessed tax. Businesses must come forward
to register for GST when their turnover exceeds $1mil per
year. After registration, businesses must charge and
account for GST at the prevailing rate. This is known as
output tax. GST registered businesses can also claim the
GST incurred on their goods and services purchased assuming
certain conditions are met. This is known as input tax.

what is the treatment of minimum alternate tax, and it's calculation procedure

5 Answers   HCL,

---

what is fbt@ ,sd @

0 Answers  

---

Central Railway i.e. Central Govt. takes material through works Contract in Maharashtra State.The contractor purchases material from other states say M.P. or U.P. state. Due to inter state purchase of material the contractor is asking for C form. Whether Central Railway is eligible to get C form? Whether we will able to get C Form from Sales Tax Dept. so as to hand over to contractor ?

1 Answers  

---

We are Work Contractor. Presently we are under going a infrastructure Project of common wealth Games in Delhi. I want to know that how much wct will be chargeable on this project work???? we are generally using material like, aggregate, coarse sand, bricks, rmc, cement and our labour.

1 Answers  

---

We have purchased staples Item & vendor charged freight in his invoice.should we deduct TDS on freight charges by vendor?

1 Answers  

---

---

is vat applicable on services as well? please describe the services under vat?   

1 Answers  

---

is there easy guide for the latest India tax & accounting information for 2010?

0 Answers   Hewitt,

---

What are the Different heads of income tax act 1961? tax rate on companies according to current budget?

6 Answers   OPI Global,

---

what is the date of payment of tds of last month (March)& date of filing of last qtr.

5 Answers   HP,

---

what is costing ? how aclculate mcv? mpv? muv?mqv? with example?

1 Answers  

---

CERTAIN LIST OF EXPENSES ARE MENTIONED IN SECTION 35D regarding amortisation of such expenses........not included in the list are expenses like administrative expenses,consultancy fees etc...if these expenses are of revenue nature then well and good enough, problem taken care of.If it is not of revenue nature nor is it included in the list, how do u treat such expenses. Do u capitalise them by way of fixed assets or sunk costs or what do u do? any case laws that talk about expenses not mentioned in the section?

0 Answers   Ernst Young,

---

what is reverse charges in service tax

1 Answers  

---