We are purchaseing one machine on duty of payment ( Capital
Goods) in the staring of the month financial year 2009-10
at the time of purchase of machine we are not registered
with the excise department. But my company registred with
the excise department end of the same financial year
What can we are taken cenvat credit on capital goods in the
year 100% of 50% pls. given the comments or explain me all
excise exparts.
- 3 Answers
- 4748 Views
- I also Faced
- E-Mail Answers
Answers were Sorted based on User's Feedback
Conditon-1.
If excisable invoice make your company name so 50% cenvat
taken during the financial year and 50% cenvat taken next
financial year because your company registerd in excise
department.
Condition-II.
If your company not registerd and excisable invoice not
makeing your company name so not taken cenvat any condition.
| Is This Answer Correct ? | 2 Yes | 0 No |
Answer / jayaseelan
It is immaterial that you got registered with excise
department or not, but as per Cenvat Credit Rules 2004, 50%
eligibile for current fiscal, another 50% eligible for
subsequent fiscal.
| Is This Answer Correct ? | 2 Yes | 0 No |
what is TDS and which apply on and its what is diffrent rates on diffrent items.
If, we rentout our fixed asset. is this transaction appliocable to service tax
is hospital is not liable to pay tax on income is hospital is not bound to file sales tax, cst return, is hospital not liable to pay service tax on the room charges they take,
Should WCT deduct on Invoice where VAT charged but service tax not charged as service tax is not applicable to concern vendor (vendor gross income under 10Lacs)?
A person buys and sells a number of vehicles in a tax year and makes a significant amount of profit in the process. Will such profit be taxable as capital gain?
what is er1
How we calculate TDS on Salary, They are taken net salary either Gross salary
If any bill amount is inclusive of service Tax? How to calculate?
12 Answers Mountain Edge, Savitri Engineering,
verification of licence comes under professional or contract in TDS
I AM A/C'S MANAGER IN CONSTRUCTION CO.WE TAKE TRANSIT MIXTURE ON RENT BASE FROM OUTSIDER.THE SUPPLIER CHARGE VAT ON THAT MACHINERY @ 15%,IS IT TRUE? IF YES PL.SAY ME WHICH SECTION APPLY UNDER THIS LAW OR NOTIFICATION OR CIRCULER FROM COMMERCIAL TAX DEPATMENT.
Dear Experts, I need your help in deriving a formula for calculating three taxes with a combination of cumulative and inclusive tax. Here are the examples with expected result. Please let me know the formula on how to get the given result. Example1: Total Product Value (V) = 1000 (with inclusive of all 3 taxes and below mentioned cumulative combinations) Tax1 rate is 10% and Tax1 is inclusive. Tax2 rate is 10% with Tax2 is inclusive and cumulative of Tax1 Tax3 rate is 10% with Tax3 is inclusive and there is no cumulative of Tax1, Tax2 Expected Results are: Tax1=76.34 Tax2=83.97 Tax3=76.34 Let me know formula to derive above values? Example2: Total Product Value (V) = 1000 (with inclusive of all 3 taxes and below mentioned cumulative combinations) Tax1 rate is 10% and Tax1 is inclusive. Tax2 rate is 10% with Tax2 is inclusive and cumulative of Tax1 Tax3 rate is 10% with Tax3 is inclusive and cumulative of Tax2 Expected Results are: Tax1=75.70 Tax2=83.27 Tax3=84.03 Please let me know formula to derive above values? Thanks in advance.
What is the %age of T.A.,D.A.,H.R.A.,BASIC
Audit 
