Dear All
Iam accounting a propritery manufacturing company (SSI)the firm purchase raw material & sale finish goods.The diff in sale & purchase tax is paid as vat.

the firm has purchase a machinery can the propriter take setoff on vat paid on machinery.

The Firm purchase oil for machinery if i account oil as direct expenses can the vat paid on oil be clamed.

the firm purchase rawmaterial from Interstate can the CST paid on purchase adjusted against vat payable.

Regards

Dear All
Iam accounting a propritery manufacturing company (SSI)the firm purchase raw material & sale finish goods.The diff in sale & purchase tax is paid as vat.

the firm has purchase a machinery can the propriter take setoff on vat paid on machinery.

The Firm purchase oil for machinery if i account oil as direct expenses can the vat paid on oil be clamed.

the firm purchase rawmaterial from Interstate can the CST paid on purchase adjusted against vat payable.

Regards

please tell me what's the date of payment under VAT act if we are paying monthly and quarterly through DVAT20 challan. and what is the penalty if tax not paid on time.
and also provide the full information of debit and credit note under the same act with accounting treatment.

when the result of CA PCC will likely to be announced by ICAI??

don't speculate pls.....

are the members mentioned above liable for service tax and TDS

Sir,for what purpose form 3CD and 3CB are used,are there any other forms other than this.Explain the difference.

PLEASE TELL ME WHAT IS PROFESSIONAL TAX SLAB FOR THE FINANCIAL YEAR 2009-10 FOR MAHARASHTRA?

Please advise us on the following:

There are two Public Limited Companies viz. Company A and Company B.
Mr.X is a Director of both these Companies and holding 50% of
shareholding in Company B.

To make Company B, a subsidiary of Company A, Company A want to purchase
the majority of shares held by Common Director in Company B at the price
arrived by Statutory Auditor.

The above transaction is within the limit prescribed by Sec.372A of
Companies Act and Company A passed unanimous resolution at its Board
Meeting.

Whether approval under Sec.297 or any other section of Companies Act is
required.

can any one provide me any section or case law(s) for establishing the fact that "passing of a resolution does not create any legal obligation on the company"

which losses are covered under section 72 as business speculation losses??