DEAR SIR,
I AM WORKING IN A PSU IN KOLKATA HAVING FACTORIES IN KOLKATA, KANPUR AND MUMBAI. NOW WE HAVE APPLIED FOR ISD REGISTRATION IN KOLKATA. IN THE MEANTIME WE HAVE INCURRED SERVICE TAX LIABILITY ON SECURITY SERVICES AND OTHERS IN KANPUR AND MUMBAI WHICH WE WANT TO APPLY FOR KOLKATA EXCISE ZONE. NOW THOUGH KANPUR AMD MUMBAI HAVE EXCISE REGISTRATION WE HAVE NOT APPLIED FOR ISD. NOW THE QUESTION IS CAN WE AVAIL SUCH ST INPUT CREDIT OF KANPUR AND MUMBAI AND OTHER SALES DEPOT ALL OVER INDIA IN KOLKATA. AS A BIFR COMPANY WE WANT TO SAVE ON CAH OUTFLOW FOR ED PAID. WOULD YOUR ANSWER BE DIFFERENT IN CASE OF SUCH BIFR COMPANIES

Ours is a Pvt. Ltd Co. We are working on one Govt project along with other two cos. As a part of contract we run call centre also. the bills of telephone and internet, elect.for the same are in our company name and shared by all of three. We are raising debit notes on other two parties for reimbursement of bills.

Please guide whether service tax is applicable on this transaction.

CASE
Mr.A B& C booked an Apartment for Rs.35 lacs in 3 names A,B &C in Sept.’2005. Initially they paid booking amount of Rs. 5 lacs . Then they took a bank home loan and paid Rs.20 lacs to the builder in Sept.’2009. On completion of the apartment, in June’14 , they paid balance Rs.10 lacs to the builder . In the complete transaction, they paid a total of Rs.35 lacs to the builder plus interest of Rs.8 lacs to the bank. But they did not take possession instead they sold the apartment to another customer for Rs.48 lacs. The customer paid transfer fees directly to the builder and got the apartment transferred in his name.

In the above case I assume that
1. they will be liable to capital gain on account of transfer of rights.

I want to know:
1. whether it’s a short term capital gain or long term capital gain?
(can we consider the date of booking as date of acquisition of rights?)
2. how to calculate the indexation of interest on loan considering it as the cost of acquisition
(hope we can do that….)
3. and how shall be the tax liability be distributed among a,b,c
Please advice……..

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Hii everyone.. I was wondering that whether is it necessary to study from study material issued by ICAI like textbooks, practice manuals, etc. or is it enough to study from reference books by good authors? Actually I do not find ICAI's books interesting to study and many concepts are not illustrated well in it. I always need a full-fledged book in which many examples are given. I was just thinking that whether is it really helpful to study with ICAI's books?

https://www.caclubindia.com/mobile/forum/prep-for-nov-14-305157.asp

There is a question in my Indirect Tax book on Partial Reverse Charge. Service provider has to pay 25% & Service receiver to pay 75%. The question reads that service provider received 25lacs. For calculating Service tax they reverse calculate to value of service to 22.25lacs. ie (25*100/112.36) but if 25lac was amount received the calculation for value of service should be 25*100/103.09 as service provider has to pay only 25% of ST. Is my working & understanding correct for this question?