Tax paid on Residential Property
This query is : Resolved
Quick Summary
13 January 2020
If a buyer purchase a Residential Property and paid GST. The GST Paid on Property be added back to Property Value or not and shows in Balance Sheet of buyer or the GST Paid will be show in Profit & Loss Account.
Please Answer
Please Answer
13 January 2020
Add GST to properly value.
13 January 2020
Gst on property same need to be capitalised with cost of property.
14 January 2020
GST paid is the cost of the property
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