SUBJECT

Sales tax assessment

MINUTES OF THE AOR USHA INTERNATIONAL LTD - BANGALORE - APR 2012 DISCUSSION / DECISION RESPONSIBILITY completed upto 2008-09 for VAT and CST
As per the business term with VRL if the payments are released before 15th of each month against their previous month bills, UIL can avail 2% CD & if the months bill is above 2lakhs in such case CD would be 5%. However, the location has not avail the CD since Aug 2011 due to delay in checking & receiving of transporter bills from Warehouse. & coupled with funds problem. SAH/AI has to closely followup for bills from warehouse & funds from HO

TARGET DATE

Vijaya Das/SAH

Transport Payment

REVIEW OF CRITICAL GL ACCOUNT HEADS BY RAH (As On 31.12.2011)

SHOP DEBTORS - OTHERS & The account head reflects a debit balance. The list includes price SUNDRY SHOP ADJ(GL Code difference between smart shop and SAP. Same has been reconciled and sent to HO to pass necessary entries 126020/160100)
STOCK -RAW MATERIAL / GLSPARESGL Code(120070) An amount of Rs. 140648 is appearing in this account due to uploading USI cannibalized Home Appliances spare during last financial year An amount of Rs. 44439 is apprearing as credit balance in this account. This is due to pending disposal of FANS An amount of Rs. 5.57 lakhs is appearing & lying for recovery for more than 1 year. AI to furnish list of customers/institutions to respective PIC's for their recovery plan. SAH/AI to ensure no further tender deposit would be released to concerned product department without recovery of the said old over dues or only with the prior approval of CEO. The llist of Rs. 10.13 lakhs includes membership of Rs. 10 lakhs paid to Bangalore Club during 2003. There was no apportioning of expenses after 2007. It is to be noted that the location has lost the membership at Bangalore Club and this amount is also not recoverable. Understand from SAH there is no legal case is going with club as it is Enterance Fee and not refundable deposit. HO to advice. There is no legal case exist in thise case as per HO record

BR - ONE TIME CUST(GL Code-125050)

Vijaya Das/SAH

30.04.2012

DEPOSIT TENDER(GL Code 162110)

Nagaraj MR

30.04.2012

DEPOSIT OTHERS (GL Code 162190)

PHYSICAL STOCK VERIFICATION CLEARING A/c (GL Code-181240)

An amount of Rs. 20671 is appearing in this account due to stock variation in warehouse. HO to advice on this Against an amount of Rs. 11.99 lakhs Rs. 4.75 lakhs pertain to 2008-09 assessment year. The location has preferred an appeal which has come on board and to be speeded up.The balance of Rs 7.23 lakhs was transferred by HO from JEW that pertaining to 2001-02 assessment year. The location accounts has no complete details on these appeals as it was handled by JEW directly. AI to take up with KVSSPC Sharma. Since this amount pertain to JEW this amount may be transfered to HEI from location Sales tax and appeal (GL CODE 167010) book.

Vijaya Das

General BR IGM
IGM BR pending for collection is amounting to Rs.15.16 lakhs. Out of which 13.22 lakhs belongs to Shree Enterprises(Code 45200) due to cheque dishonor