Fixed assets
This query is : Resolved
20 July 2015
Dear all,
I purchased Plant & Machinery for RS 50 crores on instalment basis i.e 10crores for 5 instalment . Subsequently while paying last instalment the vendor wavied off Rs 10 Lakhs.
My query is whether shall I decrease Plant & Machinery value for Rs 10Lakhs in my books of accounts for subsequent changes.
will it deffer if it is not an instalment basis?
I purchased Plant & Machinery for RS 50 crores on instalment basis i.e 10crores for 5 instalment . Subsequently while paying last instalment the vendor wavied off Rs 10 Lakhs.
My query is whether shall I decrease Plant & Machinery value for Rs 10Lakhs in my books of accounts for subsequent changes.
will it deffer if it is not an instalment basis?
20 July 2015
Yes reduce the machinery value. It will not differ.
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
- Wrong payment entry made
- Input on premium employees group insurance
- Compensation received from electricity transmission company for installation of High tension line
- PF Withdrawal Reporting in ITR
- DIR 12 for appointment and resignation
- Place of Supply for immovable property
- Regarding Chartered Accountant
- Income of Infant and Minor
- Section or Rule of income Tax for Tds deposit deadlines
- Resort GST Registration
- CG Account Scheme
- GST on intellectual property rights of foreign entity used in india
- Registration of Transporters under GST
- Debtors and Creditors How to make
- Query Regarding Articleship Eligibility Based on Current Work Experience
- E invoice generation using offline tool
- Salary JV Entry
- Coparcener loan to HUF
- Delayed payment of GST on RCM basis renting of property
- Recovery of gst
Trending Online Classes
CAclubindia
