CA. Hari Kishan 's Expert Profile

Queries Replied : 743

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Darshan C Jain says : COT Return
Sir, dealer being Reg USec 15 of KAR Vat being a Bakery operator, and do sales of Bread & Bun(20K) and other Sweetmeats (30K)Self Manufactured, and also do sales(50K) of confectionery purchased (50K) from URD, Soft Drinks(5K) and other several Items(10K) Taxed on MRP. how to file return, how to calculate tax payble, please advise deeming the fig shown in Bracket the Turnovers of Items mentioned before it.

Darshan C Jain says : KVAT order Under Sec 39(1) & (2)
sir, My Client is Reg: Under Sec 15 (COT), Shoe and Slipper Dealer, having turnover Not exceeding Rs 20 lac PA, Recently VAT Officer i.e.. CTO visited and inspected Stocks and Asked us to file a Trading Account(TA) as on date of Inspection, the Same was prepared by our accountant and filed, Further the closing Stock as per TA was 635000, and Physical Stock were Worth Rs 840000, ther Officer Proposes that v have made URD Purchase and should have paid the Input Tax On Purchase Made from URD, hence by suppressing the purchases have made offense Punishable, further v r asked to Pay Tax At Rate of 14.5% on stock in excess found and penalty in addition, but we have recorded all sale n Pur n have never skipped any entry. the profits may very on every such sale and on many purchase made under Discount Schemes from suppliers hence the Profits margin was not confirmed to arrive at correct closing stocks. and if the stock were found less the officer would propose suppression of sale Notice. any way tax payers shall be penalized on trap Account. Please state what to appeal. what are the substantial Question of Law.

Prithviraj says :
Sir, while registering I have drafted a DD with full amount i.e. without separating orientation and ITT fees. i have sent the form todat i.e. 28/2/13. on the form it is not mentioned that I have to draft 3 separate DD. Will they accept.?

Gurumurthy.B says : VAT Input credit
Can we avail VAT input for insterstate purchase without c form.

Mudit says : Gift Tax on Cash
Hi, I have a query on gift tax on cash. Is cash received as gift from family members is taxable? If yes, what is the exempted amount and who all are covered as family. Please respond. Thanks Regards, Mudit