what is value added tax , how it is calculated , please explain with a short example

Hi to all

one of my client dealing in printing business of corrugated boxes, for the last few year he print plain corrugated boxes now he print the name also the their client, and now i heard an amendment that on the printing names and any matter on the corrugated boxes is under the excise net. on the plain corrugated boxes there is no excise and also SSI exemption is also available on the First 1.5 crore turnover. please clerifty that whether the assessee is liable to pay the excise on the printed corrugated boxes with starting the turnover or he can get the exemption of SSI upto rs. 1.5 crore.

from 1st april, 2008, cst rate will be 2%or 3%.

if i sale inter state goods, so what cst rate will be applicable on 01.04.2008?

Hi,
I want to know that if i have Cenvat credit in books in respect of Service Tax(12%) and Excise duty(16%) but there in no balance in EDU cess a/c (2%+1%) as credit.

now if i have Educatiuon Cess liability on sale/services, can i set off this with my above credit(Service Tax/Excise duty)

In case of 100%EOU if they are selling material in DTA, they have to pay costom duty(BCD) on such sale, can they set off this with their Cenvat credit?

pl reply

Dear all
This time our company (proprietorship firm & SSI unit) made turnover of Rs.148 lakhs in this 30 Lakhs Items are With Material Sales & remaining is the Labor Job work (party send their material and we return back the same after machining).

I wants to take excise registration looking to 2008-09 year business
confirmation from our customers. And we wants to apply for registration during Apr'08.

Now I have certain material which is remain with us and is going to dispatch in Apr.'08 after inspection of the material. This material I will sold to cusotmer with charging tax.

Now my question is if I got excise registration during May'08. then what
about the material which I sold before excise registration, weather I have to collect Excise amount from those customers OR excise will applicable after the date of Registration Certificate.

Regards

Tarun T Patel

We want to produce Dense Bituminous Macadam(DBM) that consists of mix of Stone Chips, Bitumen. It is used for road work. Bitumen is supplied by the client(Govt client) on chargeable basis and stone chips is either produced by us or procured. If DBM attracts Excise Duty ?

If a manufacturing co sells goods
does other Buyer need to deduct TDS includiong Excise duty and Other Taxes ?
I mean IN service Industry we Deduct TDS including service tax so do we need to deduct TDS Same Way ?

what is the meaning of Excise duty?why Excise duty is charged?& which % is charged on which type of goods?

An SSI unit wants not to avail full exemption upto Rs 150 lakhs under Notification no. 8/2003 and instead pay normal rate of duty with Cenvat credit benefit.

Is it required to excercise its option or is this provision now redundant? Pls advise.Thanks.

hello
WISH ALL OF U A VERY VERY
HAPPY HOLI

A Public ltd company is putting up a plant to manufacturing News print and writing printing paper.
The company has started the construction of building & installation of machinery for the purpose from may 2007.
The building has been constructed and the installation of the Machinery is likely to be completed by June/July 2008 only.
The company has availed Cenvat on the stenth of the Invoices of the Machinery purchased.

Query
can we avail 100% cenvat on machinery installing during 2007-08 for clearence of our production during 2008-09 or we can take benfit of 50% in 2008-09 and balance in the remaining period

We would also request to clarify of our entiltlment to avail cenvat credit during 2008-09 to the extent 50% or 100%

THANKS