Capitalisation
This query is : Open
16 March 2012
i have purchased additional 10 ups costing me Rs 20000 ( Rs 2000 per piece x 10 ).
whether it should be capitalised or expensed of ????
whether it should be capitalised or expensed of ????
Querist : Anonymous
Querist :
Anonymous
(Querist)
16 March 2012
dear sir
if the transporter bill didnt contain the information who is to pay service tax & no more data on service tax ,can he still be liable(let the receiver is a co)
if the transporter bill didnt contain the information who is to pay service tax & no more data on service tax ,can he still be liable(let the receiver is a co)
16 March 2012
There is a clear demarcation between assets & expenses.
If you are in UPS business -expenses
Otherwise-capitalize
For the second case , if service recipient pays service tax under Service head "transfer of goods by road", that amount can be taken as cenvat"
If service tax due on transportation of a consignment has been paid or is payable by a person liable to pay service tax, service tax should not be charged for the same amount from any other person, to avoid double taxation(circular 79/9/2004-st).
If you are in UPS business -expenses
Otherwise-capitalize
For the second case , if service recipient pays service tax under Service head "transfer of goods by road", that amount can be taken as cenvat"
If service tax due on transportation of a consignment has been paid or is payable by a person liable to pay service tax, service tax should not be charged for the same amount from any other person, to avoid double taxation(circular 79/9/2004-st).
Message likes :
1 times
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Itr 1 processing
- Off Market debit and credit transaction
- Reporting Income under Section 44ADA
- Showing Gift from relative in ITR for this year
- ITR 1: Details for showing Exempt Income
- ITR returnFY25-26
- Share accounting-->fifo - capital gain - period as per fifo?
- Short Term Capital gain on shares bought and sold after 2018 onwards
- ITR selection for salaries and capital gain less than L
- INCOME TAX ON REDEVELOPEMENT OF FLAT
- Gst invoice numbering and delivery challan numbering
- Sales amount in Gstr1
- E Commerce GSTR1 & 3B how to file
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
- Form10BD was uploaded successfully without any Error but after 24 hours, Form10BE are not available
- Annexure B utility for GST Refund
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Tds on GST in connection with sale to public company
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
