CA Prasanna Krishnan V's Expert Profile

Queries Replied : 121

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s.lohani says : what do you make of this notice sir
http://www.icai.org/icairoot/publications/complimentary/cajournal_aug02/p198-202.pdf

s.lohani says : what do you make of this notice sir
http://www.icai.org/icairoot/publications/complimentary/cajournal_aug02/p198-202.pdf

shruti says : pl help on service tax applicability
Our Company only selling Ocean freight to the shpr. for eg. ocean frt for a 20' cntr to kuwait is USD 850. This Co. adds his profit margin of USd 100 and sells to the shpr. Shpr picks up line's cntr and loads on vsl. Here Invoicing includes - Ocean Frt Terminal Handling Charges incl. Service tax [THC] Documentation Charges incl Service tax [DOC] The above THC and Doc charges are wat is charged by the line. we just collect from the shpr and pay to the line. This THC and DOC charges are open in the market in the sense that everybdy knows the THC amount charged by the port, same charged by the line and DOC charged by the line. No profit element added in this. They even dont show the word 'Service tax' in the Invoice. My question is - 1) under wat a/c head this company wl fall to be liable for service tax??? 2nd Question is, profit earned by the co. is only on freight quoted to the shpr, so is it liable for service tax? 3rd Question is, is the invoicing correct??? 4th Question is, does the co. have to pay service tax to the govt, wat it collects from the shpr on THC and DOC charges??? 5th Question is, is it mandatory for the co. to obtain service tax no?? Wat shd be the turnover to obtain service tax no? pl revert on top priority basis as co, has still not paid any service tax to the govt nor claimed any no.

ANUJ GARG says : VAT INPUT CREDIT ON PURCHASE OF TRADE MARK
1. We are manufacturer of Ice-Cream with Brand Name “Cream-Bell”. 2. The Business Trade Mark is registered with “UNIVERSAL DAIRY PRODUCTS PVT. LTD.” (UDPPL); 3. UDPPL has a Factory at Agra (Uttar Pradesh) and registered office at Delhi. 4. We have another company namely DEVYANI FOOD INDUSTRIES PVT. LTD. (DFIPL); 5. DFIPL is also doing Ice Cream Business with Brand Name “Cream Bell”. 6. DFIPL has a Factory at Baddi (Himachal Pradesh), Sales Depot in Agra (UP) and registered office at Delhi. 7. We have shut down our Agra Factory of UDPPL; 8. Now our business is running from Baddi Factory; 9. We wish to Sell trade Mark from UDPPL to DFIPL on or before 31.3.07. So, please give your opinion with example on the followings: 1. If we sale Trade Mark to DFIPL, will it attract Sales Tax / Vat? 2. Should we make sale from UP or Delhi? 3. In case Sales Tax / Vat is payable then UDPPL will like to sale Trade Mark in Delhi to DFIPL Delhi and DFIPL will set off vat input tax (paid on purchase of Trade Mark) with vat output tax against sale of ice cream in Delhi? Can we do this?

manish says : smart resume
sir i m practising ca since 4 years now interested in jobs let me know how i can show experience becoz in service sector they dont like practising ca i hve co-0perative bank of which i can show exp. kindly assist.