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).
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