Without vat on fixed asset, is it treated as a fixed asset?
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
09 April 2013
Dear Sir/Mam,
Our Company Software Development Export Company, Vat and Service Tax Not Applicable. We have purchased FIXED ASSET without VAT, It shall be Treated as Fixed Asset.
Regards,
Venkat
Our Company Software Development Export Company, Vat and Service Tax Not Applicable. We have purchased FIXED ASSET without VAT, It shall be Treated as Fixed Asset.
Regards,
Venkat
09 April 2013
To treat it as fixed asset nature and purpose of investment is important due to the non applicability of taxes we can't say it as fixed asset. So you can treat the purchases of assets as fixed asset.
OM SAI SRI SAI JAI JAI SAI
OM SAI SRI SAI JAI JAI SAI
Message likes :
1 times
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
- 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 .
- Liable to deduct tds and 44ADA
- Payment to foreign customer
- Is Interest applicable for payment made through credit ledger vide DRC03 for FY 2020-21 & 2021-22
- Subscription paid to foreign customer
- Non issue of e way bill
- ECO SUPPLY REPORTIONG IN GSTR-1
- Internship/Academic shown in Salary Pay Slip of a Doctor
- TDS PROCEDURE ON SALE OF IMMOVABLE PROPERTY BY NRI
- Refund of 20%pre-deposit paid for stay application
- ASISSE return under the provisions of the Collection of Statistics Act, 2008 (7 of 2009)
- 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
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
