Dear Friends,

My Client is a Software Seller, they buy and sell softwares to colleges and institutions, now their suppliers started charging service tax as well as vat?
how should we charge our customers,

Method 1

Price = XXX
Service tax @12.36%
on XXXX = YYY
Vat on (XXX+YYY) = ZZZ
Bill Amount(XXX+YYY+ZZZ)= $$$

or Method 2

Price = XXX
Service tax @12.36%
on XXXX = YYY
Vat on (XXX) = ZZZ
Bill Amount(XXX+YYY+ZZZ)= $$$

or Method 3

Price = XXX
Vat @ 4%on (XXX) = YYY
Service Tax @12.36%on(XXX) = ZZZ
Bill Amount(XXX+YYY+ZZZ) = $$$

or Method 3

Price = XXX
Vat @ 4%on (XXX) = YYY
Service Tax @12.36%
on(XXX+YYY) = ZZZ
Bill Amount(XXX+YYY+ZZZ)= $$$


Please Help Me in This Case Many Suppliers Charges in Different Methods Method is been observed in many suppliers Invoices Which is Correct Method For Calculation

A COMPANY HAS HEAD OFFICE IN DELHI AND BRANCH AT NOIDA. IT PURCHASES SOME VIDEO CONFERENCING ITEMS FROM DELHI AND STOCK TRANSFER AGAINST FORM F TO NOIDA BRANCH. AGAIN THE SAME MATERIALS WERE RETURN BACK TO DELHI FROM NOIDA. WHAT ARE THE ACCOUNTING TREATMENT? CAN IT REVERSED THE SALE AGAINST F FORM VIA CREDIT NOTE.
OR
AGAIN THE SALE AGAINST F FORM FROM NOIDA TO DELHI CAN BE DONE?
SECONDLY
CAN WE DO THE STOCK TRANSFER WITH CHARGING FULL TAX ( WITHOUT F FORM)OR AGAINST C FORM?

I HAVE A DOUBT BECAUSE IF IT IS ENTERED AS SALE AGAINST F FORM AT DELHI AND FOR REVERSAL AGAIN WE BOOKED THE SALE AGAINST F FORM AT NOIDA BOOK IT WILL HIT THE TURNOVER.

PLEASE ANSWER THE QUERY.

What are the accounting requirement for an NGO to get registratation U/S-80G of I.T.Act?

i am a practicing chartered accountant from mangalore. i would like to do some course in IT. but dont know the exact differences between CISA and ISA.
also please suggest which is better and why

can co-operatives societies like "souharda"as they are called who are mainly engaged in providing credit facilities to its members can claim sec 80P under the income tax act from A.Y.2007-08.( as far as a plain reading of the act goes it looks like we cant . but i have come across a lawyers elaborate explaination saying it can be claimed)

hello, in the income tax act in terms of person there is a mention of "Local Authorities" . does it mean only municipal corporations or does it include other institutions?

hello, in the income tax act in terms of person there is a mention of "Local Authorities" . does it mean only municipal corporations or does it include other institutions?

hello, in the income tax act in terms of person there is a mention of "Local Authorities" . does it mean only municipal corporations or does it include other institutions?

one of the conditions of sec 10B is repartriation of sale proceeds to india in 6 months. but in case of a indian subsidiary(software developers) who transfers all the software developed to its foreign parent company who in turn sells it to outsiders, there wont be any repartriation of sale proceeds. in this case will sec 10B apply here.
the subsidiary company gets money from parent company towards expenditure
secondly is it correct to book income by applying transfer price methods

HI VINIT,

BUT MY QUESTION WAS SINCE THE PROFESSIONAL IS RENDERIN PROFESSIONAL SERVICES BUT THE WORK WHICH I GAVE WAS ON CONTRACT JOB.
THEN IF IT WILL NOT 194J BECAUSE AMOUNT GIVEN TO HIM MIGHT BE FALL UNDER PROFESSIONAL SERVICES RENDERED


SIMA