Answer Posted / manisha shaw

the current excise duty is 8.24%
bed 8%
e.s 2%
h.s 1%

I have some queries about Service Tax, I am working in a Insurance Broking Company. 1) We have raised one bill on 25.04.09 for the services provided by us in the month Mar, 09 Now We received the chq on May, 09 followed in the Month of June,09. When the service tax is actually payable in the month of received of Service tax amount or in the month of services actually provided by us (Mar09) 2) Can we take 100% credit of Service Tax Input paid to those who provided services to us. Suppose Service Tax payable is Rs. 100/- and Service tax charged by the other firms/company Rs. 80/-. The question is That can we deduct Rs. 80/- (already paid). Now Net ST payable would be Rs. 20/- or other percent of service tax input is available 3) What is the rate of interest for Service tax if not paid on time. Pls help me out asap

1801

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WHAT IS THE MAIN OBJECTIVE TO ISSUE THE WAYBILL TO THE SUPPLIER ? WHAT IS THE TAX LIABILITY ARISES ? WHO HAS THE OBLIGATION TO PAY THE TAX ?

2194

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what is works contract tax? if a contractor made a bill as repairs to machinary 00000000/- service tax 12.36% on 40% on basic value Vat 5% on 60% of the basic value of the bill amount how can i deduct works contract tax? please suggest me?

1732

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I want to know how to calculate VAT / WCT Liability under composition scheme and regular scheme at Karnataka

1816

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In the Balance sheet of a company you see the following details, Liabilities: Provision for tax - AY 2008-09 RS 200000 AY 2009-10 RS 300000 AY 2010-11 RS 200000 Assets: Advance Tax- AY 2008-09 RS 150000 AY 2009-10 RS 300000 AY 2010-11 RS 200000 On 15-03-2011, the assessment order for AY2008-09 was received and the final tax liability was stated to be RS 250000. Pass the journal entry for the closing of the relevant accounts in the books for the AY 2008-09.

1440

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I AM INTO AN EXPORT COMPANY MANUFACTURING GARMENTS. I AM PURCHASING AN INTERSTSTE ITEM AND PROVIDED FORM H NOT C. COULD I BE ABLE TO GET ANY EXEMPTION FROM TAXATION AND WHEATHER I HAVE TO CLOSE MY SALES TAX ACCOUNT FOR PROVIDING FORM H, AND IF AGAIN I COULD BE GET ANY EXEMPTION FROM FORM C ISSUING FOR THE SAME COMMODITY AND SAME SUPPLIER.

1558

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what Is the ITc Claimed. how to utilized the ITC.

1585

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Can we pay advance salary to a single employee in cash of an amount exceeding 10,000?

1041

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how to calculate tax for the income earners

1637

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Define assessment year.

733

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At present what is the rate of excise duty on sale of Weigh Bridge Machinery to out of state from Karnataka.

1975

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Please guide in Taxation. I want to know the CHALLAN NO, FREQUENCY OF TAX DEPOSIT,FILING FORM NO, FREQUENCY OF FILING OF ALL TYPES OF TAX(DIRECT & INDIRECT)

2027

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can penalty be imposed under sec 96 of vat act west bengalfor goods destroyed or damaged

1914

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if the reparing & machinery maintanance for one party the whole year payment paid rs.75000/- crossed than tds is deducted from amount

1460

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We need to know is their any govt notification for VAT & Service both applicable for one item or single invoices

1742

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