Tax implication on sell of plant & machinery
This query is : Resolved
13 July 2012
Our is a newly incorporated company. Before its incorporation, one of the group company has imported plant & machinery which are supposed to be transferred to our company after its existence. All the taxes on such import were paid by the group company.Now we are in the process to transfer the same.
Please guide us with the best accounting treatment for this so that the new company gets the benefit of the custom duty paid by one of the group company.
Please guide us with the best accounting treatment for this so that the new company gets the benefit of the custom duty paid by one of the group company.
13 July 2012
IF u avail the EPCG licence and advamce licence & fulfill the E.O. AS PER PRESCRIBED BY DEPARTMENT NORMS AND GUIDELINES DOESNOT THE MATTER FOR ANY PENALTY Otherwise u can endorsed in shipping of group company.
regards,
regards,
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
- Refund Annexure-B
- Liable to deduct tds and 44ADA
- Sale of Equity shares for Purchase of Residential Property
- Nomination of Bank for refund in itr 2
- Section 56(2) of the Income tax Act 1961 , Gift to relative .
- ECO SUPPLY REPORTIONG IN GSTR-1
- Is Interest applicable for payment made through credit ledger vide DRC03 for FY 2020-21 & 2021-22
- CCFS 2026 Schemed
- Subscription paid to foreign customer
- Two seprate Invoice needed
- E Commerce GSTR1 & 3B how to file
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
- Form10BD was uploaded successfully without any Error but after 24 hours, Form10BE are not available
- Annexure B utility for GST Refund
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Tds on GST in connection with sale to public company
- Restoration of certificate of practice
- Regarding change in correspondence address in SSP portal
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
