sale of old car
This query is : Resolved
17 July 2011
dear sir,
i working in paper manfacturing company.we have one old car for staff welfare.we want sold that now.that car will showing in the fixed assect in balance sheet.
query:
1.we want to sell means we want to dill it in our campany bill.
2.we want to bill it means how much % vat will collect from they.
3.or.old car sale means vat not applecable rules are ther.
4.we sold the car less than car value in fixed assect. how we make a journal entry.
i working in paper manfacturing company.we have one old car for staff welfare.we want sold that now.that car will showing in the fixed assect in balance sheet.
query:
1.we want to sell means we want to dill it in our campany bill.
2.we want to bill it means how much % vat will collect from they.
3.or.old car sale means vat not applecable rules are ther.
4.we sold the car less than car value in fixed assect. how we make a journal entry.
17 July 2011
No VAT chargeable on it and for the entry is:
Cash A/c Dr
P&L A/c Dr. (Difference i.e. loss)
To Car
Cash A/c Dr
P&L A/c Dr. (Difference i.e. loss)
To Car
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
- Treatment of Pension ?annuity returns on PMVY
- TAN for Partnership
- Last year TDS Claim
- AY 26-27 ITR-4 FILING U/S 44-ADA
- Plot of land. Cost of Acquisition
- Long Term Service award taxability in hands of company
- Soyabean hsn code and gst rate
- CA IPCC Registeration in 2012, Is my registration Active or Expired
- Free lancer income
- LTCG for Assmt year 26-27
- Gst invoice numbering and delivery challan numbering
- Standard Deduction claim for EPFO Pension and ICICI Prudential Life Annuity
- Small dealers gst returns filing
- Sales amount in Gstr1
- CG after sale of flat
- E Commerce GSTR1 & 3B how to file
- Nomination of Bank for refund in itr 2
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
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
