Dear Sir,

Whether stand by equipment which is ready to use but not in use can be capitalized under Ind AS 16 or not.

dear sir/madam, More of the small retail business are have exempted goods like Rice, ayta and other food items, then how they can opt for composition?

please explain the taxation regarding in the hand of partnership firm and proprietorship firm like capital gain etc.

Whether in all the cases Municipal tax is calculated on Municipal Value?
Is there any situation where it is calculated on Annual Value?

I LIVE IN GROUP HOUSING SOCIETY. AS MY SOCIETY CHARGE ME FOR MONTHLY MAINTENANCE RS. 1200/- ( INCLUSIVE OF WATER BILL, STREET ELECTRICITY BILL, SECURITY BILL, PARK & ROAD MAINTENANCE. ETC.). AND ITS TOTAL RECEIPTS IS MORE THEN 20 LAKH IN AN YEAR. IS MY SOCIETY COMES UNDER GST ACT. (UNDER 18% SLAB). IF YES THEN WHAT IS THE SOLUTION FOR THAT, IF MEMBERS ARE NOT WILLING TO PAY TAX.

Is there any requirement of writing a note in notes to financial statements with respect to Revaluation of assets in the years subsequent to revaluation ? If Yes, what is the note to be written ?

which person is liable to get his books of accounts audited?

As per provisio to 140(3) of the transitional provisions, only a trader is eligible to opt for this scheme.
In case of a 2 wheeler dealer say Honda motor vehicle dealer, he is also a service provider as he does servicing of vehicles. Can he opt for the scheme as he doesnt have excise invoice for spares, and claim full credit in case of vehicles where he has excise invoices.

As per provisio to 140(3) of the transitional provisions, only a trader is eligible to opt for this scheme.
In case of a 2 wheeler dealer say Honda motor vehicle dealer, he is also a service provider as he does servicing of vehicles. Can he opt for the scheme as he doesnt have excise invoice for spares, and claim full credit in case of vehicles where he has excise invoices.

As per provisio to 140(3) a trader can claim the credit at the rate of 40%/60% of the CGST paid on the stock lying on the appointed day subject to that it was not unconditionally exempt under Excise.
A trader who deals in various goods of which few were exempt under excise and few were taxable.
Now can the trader opt for the 40%/60% scheme in respect of goods which were not exempt under excise or does the rule means all the goods which the trader deals should satisfy the condition of not being unconditionally exempt.