CA Sanat Pyne's Expert Profile

Queries Replied : 2506

About me

I am Founder Partner of S PYNE & ASSOCIATES (CA firm) and is one of the most esteemed members (Fellow) of the coveted Institute, “The Institute of Chartered Accountants of India”. I am B.Com (H) & M.Com. from the Calcutta University. I am also a certificate holder of the following certificate Course .

• Concurrent Audit of Banks.

• Forensic Accounting and Fraud Detection(FAFD)

• Public Finance & Government Accounting

• MSME &START-UP

I am having 23 years of experience in the field of Financial Accounting, Auditing, Taxation, Forensic Audit ,MSME & STARTUP,Finance, Business acquisition and Corporate Compliance.

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SENTHIL MUDALIAR says : TED & DEEMED EXPORT DRAWBACK - DGFT
This question is with respect to, “when Advance Authorisation holders buy goods against ARO from domestics supplier TED & Deemed Exports Drawback shall be available “ I have following question. 1) Which steps to be followed by domestic supplier in terms of excise duty paid on Raw material to get Deemed Exports Drawback? 1a) Do domestic supplier needs to get certificate from his supplier stating “they have not taken cenvat credit on Input which were used to manufacture the finished products that they have supplied to them”? 1b) if yes, isn’t it lose of excise duty credit (cenvat credit) available to his supplier? How his supplier gets back? 2) If Advance Authorisation wants to claim Deemed Export Drawback, should he need to provide declaration from Domestic Supplier stating cenvat credit for input used for manufacture of material supplied were not taken? 2a) If yes, Don’t Advance Authorisation holders get the Deemed Export drawback for the excise duty paid on Raw material (Finished products for domestics supplier) purchased from domestics supplier? 3) Which steps to be followed by domestic supplier in terms of excise duty PAID on finished products { Raw material for Advance authorisation (AA)} to get TED refund? 3a) Do AA needs to give declaration in Annexure II saying he won’t take cenvat credit? 3b) if yes, isn’t lose to AA? How he gets back? 4) Do AA get benefits of excise duty if he buys from Domestic supplier? 5) Do AA get TED refund? REGARDS, SENTHIL

Ankur says : Please guide me..
Hello Sanat, Description of my case: -In ITR1 I mistakenly put TDS in Advance tax due to which instead of refund, demand of Rs9000 is generated against me by CPC u/s 139. -For this I filed rectification but again due to unawareness i didn't upload xml file and thus they pick the old file and thus regenerated a demand of same amount against me by sending a rectification letter u/s 154. - Somebody told me that now i don't have any way to resolve this and have to pay the demand amount. Can you please help me on this?? Ankur

Ankur says : Please guide me..

Akshar says : Internal Audit
Dear sir, I am a comopany secretary i want to start internal audit of one software company please guide me in this regards. steps and procedures

ketan Thacker says : cma report
sir i wanna prepare cma report for one of shipping agency so can u please send me any format at my email id ketanthacker@outlook.com thank u sir ........