Sale of old machines
This query is : Resolved
Vipin Kumar Sharma
(Querist)
22 November 2012
DEAR SIR
WE ARE PVT LTD CO. & WE ARE GOING TO SALE OLD MACHINES WHICH WE PURCHASED IN 1980, SO WHAT WILL BE THE METHODE OF SELLING THESE MACHINES, SHOULD WE SALE THESE MACHINE AS A SCRAP OR AS A OLD MACHINES,
1 IF WE SALE IT AS A OLD MACHINE HOW WE WILL SHOW IT IN OUR BALANCE SHEET, BECAUSE WE HAVE'NT PURCHASE BILL OF THESE MACHINES
AND WE DONT KNOW THE PURCHASE COST ALSO
2 SO HOW WE CALCULATE WDV & PROFFIT ON THIS MACHINES
3 WHAT WILL BE THE EXCISE TREAT MENT WHEN WE RAISED THE BILLS
THANKS & REGARDS
SO PLEASE GUIDE ME URGENTLY
PLEASE TREAT IT URGENT
THANKS & REGARDS
WE ARE PVT LTD CO. & WE ARE GOING TO SALE OLD MACHINES WHICH WE PURCHASED IN 1980, SO WHAT WILL BE THE METHODE OF SELLING THESE MACHINES, SHOULD WE SALE THESE MACHINE AS A SCRAP OR AS A OLD MACHINES,
1 IF WE SALE IT AS A OLD MACHINE HOW WE WILL SHOW IT IN OUR BALANCE SHEET, BECAUSE WE HAVE'NT PURCHASE BILL OF THESE MACHINES
AND WE DONT KNOW THE PURCHASE COST ALSO
2 SO HOW WE CALCULATE WDV & PROFFIT ON THIS MACHINES
3 WHAT WILL BE THE EXCISE TREAT MENT WHEN WE RAISED THE BILLS
THANKS & REGARDS
SO PLEASE GUIDE ME URGENTLY
PLEASE TREAT IT URGENT
THANKS & REGARDS
22 November 2012
HI
Sale as a scrap since it already absolete n no Excise will be payable.
Thanks//Vaibhav
Sale as a scrap since it already absolete n no Excise will be payable.
Thanks//Vaibhav
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