MJ Krishnamurthy's Expert Profile

Queries Replied : 1703

About me

I am a retired Assistant Commisioner of Commercial Taxes of Karnataka. I retired in 1998 at the age of 58.During this service I tried to go in detail about sales tax laws. Immeadiately after retirement some companies wanted to retain me as their consultant. That is how my touch with the subject of VAT laws continued.The website of CAclub india is giving a good opportunity to share my knowledge with others. I am an exserviceman from IAF. So, Iam a little different from other taxmen. We should do some service to the community that has offered us so much, That is my purpose.....Bye.

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Rajesh Kotkar says : Work Contract Tax
Dear All, We had sent the material for Job Work on 57F(4) from Goa to Mumbai for plating purpose, we have received the material along with the bills from the party where they have charged 12.5% CST on full value since he has added 90% of his material to the components and 10% his labour involve on it. My queries are : 1.Whether above billing what he has done is correct. 2.Whether he can charge 2% CST on full value and we can issue "C" Form for such transaction. 3.Whether he has to show labour charges separately and Material cost separately and on material cost he has to charge 2% CST for which we can issue him "C" Form. 4.Whether Work Contract Tax are applicable for interstate sale or not. 5.Whether TDS as per Income Tax Rules has to be deducted on entire bill or on labour charges only. Regards. Rajesh K BCOM,CS,Inter ICWA Goa

GERALD QUADRAS says : vat ON FLAT 2006 TO 2010
Dear Sir, I have one question on VAT applicable between 2006 and 2010 of 5%. Suppose one has booked a flat and entered into an agreement when it was 95% complete. VAT will be applicable for 5% or for the entire 100% of the contract value

Jatin Kunverji says : VAT on Apartments
MJK Sir, We are very much thankful to you for giving such a correct & valuable guidance. With your never say die spirit in terms of assistance, we are able to take on the builders legally as well. If appropriate, pls do let us know about outcome of your talks with Commissioner Commercial Taxes. Sir I also value, your candidness in terms of sharing the telephone #, in such a protective & professional world. I had also spoken to Mr Jayendra & we will be sharing our experiences on this with you. ....Regds

Jayendra Jadhav says : VAT on Apartments
Yes Jatin, Sure. I am sharing my number too, 09642375222. Please do involve me. Also MVAT articles are coming in everyday newspaper, now my mindset here is that government and Builders are playing a GAME here. Sales TAX department has given some helpline numbers to resolve queries and there are 3 methods of calculating the MVAT. I have the annexure 14T 2012 with me. You can send me the email id and even MJK sir can share me the email id , i will share with you this Annexure. Now if called the help lines and asked is the MVAT is suppose to be paid by the buyer then their reply is NO, it is suppose to be builder, Second question I asked then why is builder sending letter to buyer for MVAT payment, their answer is that is not our lookout. In that case i had to ask the other question, suppose buyer has to pay TAX how much it should be then their reply is , on what basis you builder calculates, but it should not be more that 2.5-3%. ............................. On the other hand read the article in TOI on 2nd Sep on page 4, The Bombay Chartered Accountants Society has given two examples to show how VAT is calculated and in both the example the MVAT calculation for Buyer is coming less than 1%. ......................... After all this conversations i have arrived at the point that this is a GAME between builder and Givernment. GOV. want to get the MVAT but through builder and Builder is forcing us to pay since our possessions are delayed. And if we go to GOV. to resolve this, they are showing us back to Builder. So this is politics. *************** Anyway so if actually this need to resolve yes the buyers have to come together. I am trying to search for such forums, one forum called "FORAM" is there but that is backed by builers, it is funded by builders so i dont want to join them. There should be some forum which is builder neutral. I will let you know if i come accross such forum.************ Meanwhile my fight with Builder is on, based on the reasoning from MJK sir i have written to the builder, i have not received any reply from him yet. MJK sir, can i have you email id please so that i can share what i wrote. Hope i am not asking for too much here sir, apologies if i do. Thank you in advance. My email id is "Jayendra.Jadhav@gmail.com"

MJ Krishnamurthy says : VAT on Apartments
Mr Jatin, I don't know the Mubai or your area telephone code. However my mob # is 9482222280. You may contact me any time. Secondly, I am trying to contact Commissioner Commercial Taxes at Mumbai,so that they may make a public anouncement as ahelp for flat buyers....MJK