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
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