1.Two public ltd companies were formed. 2.The date of certificate of incorporation are 24-01-2008 & 08-05-2008 respectively.
3.The certificate of commencement of business has not been taken till today.
4.Subscribers to MOA & AOA are 6 individuals and 1 is listed public ltd company (say A Ltd). A Ltd subscribed for 49,994 shares out of 50,000 shares and rest of the individuals subscribed for 1 share each.
5.Till today neither from A Ltd nor from 6 individuals, money on account of share capital is received by these companies.
6.Further, while finalizing the annual accounts of A ltd, the above companies were not shown/disclosed as subsidiaries and there accounts were also not incorporated in the annual report eventhough there were no transactions/activites done since commencement certificate is not obtained.

So following queries are raised-

1.Does A Ltd really becomes the holding company eventhough it has not purchased share capital of these companies.
2.Now A Ltd does not want to be the subscribers to MOA & AOA simply because they do not want these companies to be its subsidiaries. So now what is the remedy?
3.Although share capital is not received, can A Ltd transfer the shares in others name & get rid of the status of holding company (if at all it becomes holding company)
4.What is the consequences, for not showing these two companies as subsidiaries in the annual report of A Ltd as on 31-03-09.
5.What are the compliances to be made for these two companies from the date of incorporation with respect to accounts, audit, AGM, board meeting etc.
6.Today also, they have not received share capital so then what accounts to be finalized and how to take AGM and what needs to be put up in AGM.
7.Further no commencement certificate is obtained. Can it receive share capital now.

Thanks in advance

I want to clarify the facts of the following case.
A is a dealers in Tamilnadu - seller
B is a manufactures in Delhi - seller
c is a dealer in Mumbai - purchaser
A take order from C and purchase machines from B. Machines are delivered directely to C i.e to MUMBAI. LR taken to mumbai.
machines not come to tamilnadu.
In this situation its E1 sales or not.
if its E1 sales which forms are to be issued and by whom.
if its not E1 sales what is the tax rate.

1) Can goverment add the word "persons" or "company" in the recent amedment u/s 56 with retrospective effect ?

2) how to determine the fair market value of share in case of PVT LTD Company ?

3) can bonus shares issued by the pvt ltd company to be considered in computing fair market value of the shares ?

I have a proprietorship wherein I represent several foreign companies. My duties include canvassing their technologies and products in India and giving them a feedback of the opportunities in the Indian market.
All orders are placed by various Indian clients directly on these foreign companies and also all payments are made directly by these Indian clients directly to the foreign companies. These foreign companies do not have anyoffice in India.
After the foreign company executes the order and receives the payment from the Indian client, we raise an invoice on the foreign company for commission which is a percentage of the order value executed by the foreign company. We do not collect any Service Tax separately in the invoice.
The payment is received by us in convertible foreign currency through our bank.
We do not provide any technical service to the Indian clients nor any after sales service.
Are we liable to pay Service Tax?
Thankyou

We are in water industry and mainly into distribution of packaged drinking water, my query is can we take setoff on fuel as we are using our vehicles for business. Without fuel we can do our business, and it is main ingredient of our business. What is the VAT percent on fuel in Maharashtra (MUMBAI), as we reside in mumbai.

Fact :

Company filed the Form 25C sometime in the year 2006.

Company did not verify the SRN Status of the form filed. Now, ROC sent e-mail message indicating the SRN Status - 'Pending for approval under regulation 17(6)'.

What should the company do now ?

Whether the company should physically file any clarificatory letter or

What is the mode of communicating to ROC (whether Form 62 applies in this case)?

Thanks for the response from the concerned.

Dear friends,
we have deducted TDS for a foreign company and remitted the same to the department.
But the problem is, we are unable to enter the details of PAN of the foreign company as it does not possess the same. Form 26Q is not accepting the other details without PAN and not validating. The option of "Applied for" also not possible.

If any one has solution for this, pls reply.

Pls tell me what provisions or AS has covered the effect of withdrawl of guidance note on pre operative expenses or pre construction period which was withdrawl in august 2008.

thanks

dear sir,
when r result in june 2009 exam.

A manufacturing unit is supplying excisable goods to SEZ unit. It is paying service tax on goods transportation to SEZ.

My query:-
Is company liable to pay service tax on GTA to SEZ units?
If yes, can company claim refund of such payment as SEZ supplies is treated as equal to Export?