Aditya Maheshwari's Expert Profile

Queries Replied : 9425

I am a Chartered Accountant in practice in Mumbai in the field of Direct Taxation, Audit, Company Law Matters and LLPs.

My motto in life is "Prepare for the worst and expect the best"

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CA Aditya Maheshwari

B. Com., A. C. A., DISA (ICAI)

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binalshah says : regarding availment of cenavt credit
Respected Sir, I am CA Binal Sheth from Surat. Case: Whether cenvat credit can be availed of CVD, etc paid on machinery imported under EPCG and cleared from 1st company in BADDI to another company in DAMAN after full payment of saved custom duty, CVD, etc on surrender of EPCG license.? Further details, Ø The company in Baddi has imported the machinery two years before and now it wants to transfer the same to another company in DAMAN. So whether sub rule (5) of rule (3) of cenvat credit rules, 2004 would apply to other company in Daman? Ø The 1st company in Baddi has obtained registration under excise recently whereas it has imported the machine 2 years before so can it now prepare excisable invoice under rule 9 and if so, what about excise component in the invoice? Ø Also since the company has imported the machine earlier can the company endorse the bill of entry now? Ø The 1st company in Baddi has not availed any cenvat credit on said capital goods on purchase of said machinery, so can it pass on the cenvat credit to Purchaser Company in Daman? If so on what grounds..? I hope that the above details would help you to provide me opinion on the given case. I kindly request your honour to throw some light in this regard so as to enable me to further enrich my knowledge. Waiting for your response. Thanking You WITH WARM REGARDS, FROM CA BINAL SHETH SNK & CO. Chartered Accountants

binalshah says : regarding availment of cenavt credit
Respected Sir, I am CA Binal Sheth from Surat. Case: Whether cenvat credit can be availed of CVD, etc paid on machinery imported under EPCG and cleared from 1st company in BADDI to another company in DAMAN after full payment of saved custom duty, CVD, etc on surrender of EPCG license.? Further details, Ø The company in Baddi has imported the machinery two years before and now it wants to transfer the same to another company in DAMAN. So whether sub rule (5) of rule (3) of cenvat credit rules, 2004 would apply to other company in Daman? Ø The 1st company in Baddi has obtained registration under excise recently whereas it has imported the machine 2 years before so can it now prepare excisable invoice under rule 9 and if so, what about excise component in the invoice? Ø Also since the company has imported the machine earlier can the company endorse the bill of entry now? Ø The 1st company in Baddi has not availed any cenvat credit on said capital goods on purchase of said machinery, so can it pass on the cenvat credit to Purchaser Company in Daman? If so on what grounds..? I hope that the above details would help you to provide me opinion on the given case. I kindly request your honour to throw some light in this regard so as to enable me to further enrich my knowledge. Waiting for your response. Thanking You WITH WARM REGARDS, FROM CA BINAL SHETH SNK & CO. Chartered Accountants

seenivasa varathan says : TDS on payment of commission to Non residents abro
Dear Sirs, What is the impact of this circular? Circular No. 7/2009 [F. No. 500/135/2007-FTD-I], dated 22-10-2009 Please give your advice Regards Seenivasa varathan

Radheshyam Bhutada says : Email Id
Pls not my mail ID: carmbhutada@gmail.com send audit report u/s 33 & 34. Regd, CA Radhesham Bhutada

deepak Kumar yadav says : accounting treatment of bad debts and reseve for d
sir, i want to know the accounting treatment of provison for bad debts and bad debts and when required to writoff bad debts during the year and what is the entry for the same plse explain by passing jornal entry