Fixed asset
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
27 June 2012
A PRIVATE LIMITED COMPANY HAS PURCHASED A FIXED ASSET FROM A PERSON, WHICH WAS HIS PERSONAL ASSET. CAN THE COMPANY SHOW IT AS FIXED ASSET.
IS THERE ANY CIRCULAR OR NOTIFICATION, WHICH STATES THAT IF VAT OR CST IS NOT PAID ON PURCHASE OF FIXED ASSET, THE PURCHASER OF FIXED ASSET CANNOT SHOW IT AS FIXED ASSET.
PLEASE GIVE ME AN EXPERT OPINION
IS THERE ANY CIRCULAR OR NOTIFICATION, WHICH STATES THAT IF VAT OR CST IS NOT PAID ON PURCHASE OF FIXED ASSET, THE PURCHASER OF FIXED ASSET CANNOT SHOW IT AS FIXED ASSET.
PLEASE GIVE ME AN EXPERT OPINION
27 June 2012
No there is no such circular under Companies Act.
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