Shruti Agrawal

Applicability Of IND AS In India

Finance - Shruti Agrawal 1. Voluntary Adoption: Companies may voluntary adopt Ind AS for financial statements for accounting period beginning on or after 1st April 2015 with the comparatives for the periods ending 31st March 2015 or thereafter. If any company adopts the Ind AS then it will be required to follow i.e. there is no option […]...

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Valuation Under Works Contract Service

Finance - Primary Condition for classifying the service under works contract is that the contract shall involve transfer of property in goods in executing such contract which should be leviable to tax as sale of goods. The contract is for the purpose of carrying out construction, erection, commissioning, installation, completion, fitting out, impro...

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Gist Of Cenvat Credit On Construction Service

Finance - The Cenvat Credit Rules 2004 provides for availment of credit of excise duty paid on inputs and capital goods and service tax paid on input services. But a real estate developer/builder opts benefit of Notification No. 26/2012-ST dated 20.06.2012 then builder/developer can avail credit of excise duty paid on capital goods and service tax ...

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All you want to know about ITR 2A

Finance - For the financial year 2014-15 i.e. assessment year 2015-16, income tax department has issued a new Form ITR 2A. The reason for this form is that ITR 1 is very basic form in which very limited details are required to be furnished and only a limited salaried taxpayer are allowed to furnish this form. Due to its limitation Taxpayers has to ...

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Service Tax on Construction Service

Finance - Services provided by the Builders/ Developers is not taxable prior 01st July 2010. It is taxable from 1st July 2010 onwards as per CBEC circular No. 108/02/2009-ST. Service tax is applicable on under construction property at the time of bookings/agreements made before the construction completes. Is the Flats/Apartments / Villas is given t...

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Recent Posts in "Shruti Agrawal"

Applicability Of IND AS In India

Shruti Agrawal 1. Voluntary Adoption: Companies may voluntary adopt Ind AS for financial statements for accounting period beginning on or after 1st April 2015 with the comparatives for the periods ending 31st March 2015 or thereafter. If any company adopts the Ind AS then it will be required to follow i.e. there is no option […]...

Read More
Posted Under: Service Tax |

Valuation Under Works Contract Service

Primary Condition for classifying the service under works contract is that the contract shall involve transfer of property in goods in executing such contract which should be leviable to tax as sale of goods. The contract is for the purpose of carrying out construction, erection, commissioning, installation, completion, fitting out, impro...

Read More
Posted Under: Service Tax |

Gist Of Cenvat Credit On Construction Service

The Cenvat Credit Rules 2004 provides for availment of credit of excise duty paid on inputs and capital goods and service tax paid on input services. But a real estate developer/builder opts benefit of Notification No. 26/2012-ST dated 20.06.2012 then builder/developer can avail credit of excise duty paid on capital goods and service tax ...

Read More
Posted Under: Service Tax |

All you want to know about ITR 2A

For the financial year 2014-15 i.e. assessment year 2015-16, income tax department has issued a new Form ITR 2A. The reason for this form is that ITR 1 is very basic form in which very limited details are required to be furnished and only a limited salaried taxpayer are allowed to furnish this form. Due to its limitation Taxpayers has to ...

Read More

Service Tax on Construction Service

Services provided by the Builders/ Developers is not taxable prior 01st July 2010. It is taxable from 1st July 2010 onwards as per CBEC circular No. 108/02/2009-ST. Service tax is applicable on under construction property at the time of bookings/agreements made before the construction completes. Is the Flats/Apartments / Villas is given t...

Read More
Posted Under: Service Tax |

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