Can anybody explain? what's consumeble items?
- 3 Answers
- 5217 Views
- I also Faced
- E-Mail Answers
Answers were Sorted based on User's Feedback
Consumables items are those items, things, material etc.
which are used to as component or as row materials for
final product.
| Is This Answer Correct ? | 1 Yes | 0 No |
Answer / abhivirthi tax and industrial
In Hotel we prepare coffee. For preparation of coffee we use milk, sugar and coffee powder. But we cannot directly mix all these items. We will have to heat the milk then add Instant Coffee Powder and sugar. For heating the milk we use firewood or charcoal or electricity. For preparation of coffee the firewood or charcoal or electricity used is called consumable. The materials will not be transferred to the client on account of sale but without consuming firewood or charcoal the hot coffee could not be prepared.
For Cold Coffee, the Coffee must be placed in the Freezer and the Freezer or Refrigerator consumes Electricity and the Electricity is called consumable in Cold Coffee.
Reply from:
ABHIVIRTHI Tax and Industrial Consultancy
R.R.JAGADEESAN
VAT Practitioner and Industrial Consultant
H-63, Palaami Enclave
New Natham Road,
Madurai-625014
Cell: 9994990599,
| Is This Answer Correct ? | 1 Yes | 0 No |
Answer / rohan
Consumable items means which are not covered in warranty.
For Eg. In mob there is no warranty for Battery,Head phone
this items covered under CONSUMABLE ITEMS
| Is This Answer Correct ? | 0 Yes | 1 No |
What is WCT? On Which it is calculated?
on which product vat 14.5% applicable in maharashtra
1 Answers Everlast Composites, Tyvek,
whether TDS is deducted on internet charges(leased line) and which section does it belong to and if it is applicable then what is the maximum exemption limit?
We are a UK company selling electronic s/w licenses to customer in India. We have a PAN Number. Why is TDS being deducted on a product? Why is TDS calculated on the invoice value - surely it is supposed to be on Income and not Turnover? What is the correct TDS % deduction?
what is the ct-1 sale? if ct-1 bond is misplaced what is the procedure for applying for new bond.
what is the latest percentage of work contract service Tax with Edu cess
Ganesh & Gopal joined a firm drawing salary of Rs 25000 per month.After serving 3 yrs ,they started business of their own in partnership,contributing Rs200000(expected life 10 yrs,bought spare parts worth Rs 33000 from Kundu on credit.Office supplies were purchased for cash.Initially they were very busy in conducting their business operations but by the end of the 1st year,31/12/2005 they were disappointed when they found their bank balances.Following is the summary of their bank statement. Receipts: Share Capital Rs 250000 Collections from Customers 412000 Payments: Equipment 200000 Salaries of Assistants 88000 Rent advance for 2 yrs 96000 On-year ins. Policy on equipment 12000 Office stationery 27000 Payment to Kundu 29000 Withdrawals of Ganesh 90000 Withdrawals of Gopal 90000 Closing balance c/d 30000 ----------- Total : 6,62,000 Still amount receivable from customers for services to them amounted to Rs 30,000 & closing balance of office stationery is Rs2000,spare parts Rs2600 were utilised by the end of the year .Prepare trial balance with the available information and show total. Also what is the net profit.
sir, please suggest me. If in case work contract, wct not deduct by principal contractor then what is the consequence ? I mean please clear me if the principal contractor not deduct wct then is the contractor (sub) liable to pay wct ?
in L & T they asked me about service tax question in which situation when we take service from others & we paid billing amount yet we cant take credit service tax but we paid service tax on behalf of others party.
ie it possible to charge WHT and VAT on one trancaction? if yes,kindly explain the dynamics/working of both taxes
what diff. between Account ,Commerce and Finance?
CAN TWO VECHILE PASS TO RAJASTAN FROM NASIK ON ON ROAD PERMIT
Audit 
