Manner of payment of tax: Appellants applied Cenvat credit score availed on services tax paid on output assistance: Permissible, hence, no question of demanding payment in dollars or asking for interest.
It is actually documented that the organization experienced Formerly declared significant dividend payments to its shareholders since Pundir thought that it absolutely was risky to go away extra funds to the corporation. Equally the corporate won't worth its staff, the organization prefers seek the services of men and women in large time, and firing them in low seasons.
Out of doors Catering: Canteen Support: Cenvat credit rating: Appellant would be eligible with the CENVAT credit on the assistance tax paid out matter to the issue that there is no recovery of the price of the food items from the workers and if any cost is recovered, the assessee must reverse the credit taken proportionately.
e. hard cash borrowings is higher than its possess dollars. At the end of Dec 2001, it can be forecast to possess a debt fantastic of INR3.5 million; (b) During this present placement, the business would not have the option to meet its guarantee to lending officer of All-India Financial institution &...
Cenvat Credit: Mistaken availment: Remain: Appellants took Cenvat credit score of inputs & capital products imported by L&T who manufactured caverns for the appellants to benefit from for storage & warehousing services: No nexus of inputs/money items with furnishing output support of storage & warehousing: Prima facie case in favor with the appellants not identified.
As a whole, the projections reveal that Kota Fibres constrained is accomplishing perfectly in controlling their fiscal property. Having said that, the company is facing some worries in the region of liquidity management. This implies that Except if urgent measures are undertaken the corporation might not be in a position to pay for its bills in time and efficiently remodel its property into money should they count on the 2001 projections.
Equally, the business`s personal debt-to fairness ratio, provides A further avenue by which the corporation can Increase its money readily available. The 2001 financial projections absolutely tackle this spot and may Subsequently be applied. You can find will need for the organization rethink prior to they embrace the 2001 projection as a technique for making gains.
Cargo Handling Services : The functions undertaken from the appellants will not come beneath the purview of cargo handling provider as entire function is finished in a very mining region and they are not engaged in managing of any cargo.
Cenvat credit score: Input company credit visit this website taken on GTA company for outward transportation outside of the area of removal: Charm authorized.
Note the highlighted sections on Show seven With all the yellow indicating the new level acquiring amount as well as altered Direct Labor as well as other Manufacturing prices indicated with blue. Fears crop up when thinking about stock from the months of July and August exactly where both equally of these months will see Guna Fibres stocked outside of item for the duration of their peak-marketing time.
Cargo Managing Support: When the products are now being moved from a person port to another port, it truly is transportation of the products which transportation just isn't incidental to managing with the freight: Not a cargo dealing with services.
Cenvat credit rating: Bill demonstrating deal with at Pune which isn't registered premises: Solutions made use of at Nagpur Business office which is registered: Incorrect deal with mentioned from the invoice may well confirm to get a curable defect: Issue remanded for verification.
.. desk, the bottom profit is found when It is really calculated Together with the LIFO process, and exact is the case Together with the cash flow tax. So It really is suggested that the organization switches from FIFO to LIFO....
Kota Fibres has actually been in operation for more than 40 years, which suggests that the corporation is financially rewarding to remain this very long in enterprise. Kota`s complications are mostly attributed to its fast development and apparent steps are important to minimize working prices together with other charges and restore the company to its lucrative route.