13 May 2008
Dear all Thr s a doubt on Finance act application onto Ca-PCC xamz nov.08. I hv my PCC xamz in nov08. now th question s which finance act would b applicable to me----- finance act-07,,or Finance act--08. As per ICAI guidelines,anything that comes before 6 mnths of xamz is applicable for the relevant xamz and th finance act 2008 s as such applicable frm april onwards,,,that falls into said criteria of 6 mnths. but it got its assent frm president on 10th may,08 which s outside th criteria of notifications applicable that comes before 6 mnths. now I am confused that weather to Nov. 2008 xamz finance act 07 or finance act 08 be applicable??/???/?
I am told about th Finance act 07 being applicable as Finance Act 08 got itz assent in May 08 so it is not applicable to us but to may n nov 09 xamz..
But I need an answer from xperts. So Plz. kindly respond n help me out of this stupid well.
CAclubindia
