Arun Biyani's Expert Profile

Queries Replied : 307

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Kanhaiya says : Excise and Service Tax under Loan and Licensing
Following is the briefing of the transaction:- 1. ABC product is under loan licence agreement between M/s XYZ and our Client. 2. The said products approval is also on the name of M/s. XYZ which clearly states that M/s XYZ will manufactured at the premises of our client Under loan licence no ____ 3. ABC product consist of 4 ingredients out of which two are supplied by party and two were manufactured by us. We assemble these Four products as ABC and doing supply to M/s. XYZ 4. Goods are getting dispatched to party from our client Factory. Whether We have to raise three bills one with excise of our own manufactured and 2nd under trading for outsourced items and 3rd of labour under service tax. or what may be treatment

Kishlay Pandey says : Query on reporting procedure
Dear Sir, I wish to know the reporting procedure to be followed in transfer of shares of an Indian Company by an NRI to a non resident acquirer in an open offer.

karan says : help me out sir please
Is service tax is applicable on training session provided by the company to college students, but a collective fee is paid by the company. Is service tax is applicable on the invoice generate by the company to college? Read more at: http://www.caclubindia.com/experts/modify_message.asp?entry_id=574917

CA Manish Jain says : Required job
i try all these but did not get right response till then

CA Amit Rajput says : Please give your comment
****Welcome to all experts to join in discussion **** I have a case about a an Investment (private limited )company which maintaining books of account on mercantile basis. But company records income on receipt basis from April to Feb and in the month of march a consolidate receivable from April to Feb is recorded and for month of march on receivable basis. my question is that is this practice of following cash basis accounting for 11 month and in March remaining receivable on consolidate basis i.e.(receivable less received) and for only month of march on pure receivable basis is Correct ??? Means following cash basis accounting for 11 months and Accrual basis accounting in month of march is correct or it will be treated as hybrid system. Is there any clarification from ICAI or Department for following accrual basis accounting through out the year? Pls join in discussion