Bhaskaran Chackrapani Warrier's Expert Profile

Queries Replied : 22307

Graduate of Kerala University.

Fellow member of ICAI.

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ak mangal says : ST on what amount?
I have to submit a quotation for a big cooling tower system on LSTK basis. The tender documents term it as 'indivisible contract' but price is to be quoted separately for Materials (Supplies) and Services (erection cost). My question: Is ST lapplicable on total lump sum cost of work or just on the cost of services (i.e., erection price). Please advise urgently. Thanks in advance.

Anindita Bhattacharya says : Procedure Cancellation of Service Tax Registration
Hi Mr. Chackrapani, This is with reference to your response to the query (13 Feb 2013) regarding cancellation of service tax registration. I followed your instructions and logged in to the ACES website, after creating username and password. But when I click on REG, I don't see any "Surrender" option. I see only 3 options - Fill Non Assessee, Fill ST-1 and Change Password. Also, the other links on the top bar along with REG, i.e. SDR, PRA, REF, HELP, RET and REP are all deactivated and cannot be clicked. Is there something I have done wrong or has the website or the cancellation process changed since you last resolved the query? Would really appreciate your response, I am trying to surrender my father's service tax registration, and he is unwell to do it himself. Thanks very much, Anindita

HARENDRA SINGH says : Service tax
Dear Sir, One my client is engaging in travel agency. He purchase air tickets from IATA travel agent including service tax and sales after to his client adding of his service charge. how to calculate service tax. Example:- Puchase Invoice is Air fare Rs. 5000/- Less Discount 500/- Add TDS 50/- Add Service tax on discount62/- Net Payable is 4,612/- -------------------------------------- Sales Invoice is Air fare Rs. 5000/- Add Service charges 200/- Add service tax 25/- net amount 5225/- How to compute service tax 62-25=37 Credit

Krishna Sudha says : Firm and partners - BEL for Service Tax
Dear Sir Professional service provided in the same premises by two or more individuals under the same firm name and these individuals are having their own separate client files and billings,would the service tax basic exemption limit of Rs.10,00,000 be applicable separately to all the individuals and firm Eg: A firm having 3 partners GTI Firm - Rs.10,00,000 Partner 1 - GTI - Rs.10,00,000 Partner 2 - GTI - Rs.10,00,000 Partner 3 - GTI - Rs.10,00,000 Can the BEL limit be enjoyed by each individually? Like above mentioned there is a clear demarcation in the client files and billings system. Kindly enlighten me on the same

praveen mishra says : Income tax
sir my company is incorporated as 01.01.2013 and and i opted financial year 1.1.2013-31.03.2014...was it compulsory for to finalized our books at 31.03.2013