Commercial shop entry

shop purchase is a fixed assest or investment?
purchase for investment purpose, may be given on rent until sale on good price.

g.s.t. paid on shop purchase accounting entry.

development charges, regiestration charges, accounting entry.

please reply
Replies (2)
Quick Summary
This discussion explores whether a commercial shop purchase should be classified as a fixed asset or an investment. It delves into the accounting treatment, particularly concerning GST paid on purchase, development charges, and registration fees. The consensus leans towards classifying it as a fixed asset, with considerations for rental income if held for investment purposes until a favourable sale price is achieved.

Why dont you study class 11 and 12 once again
Fixed assets....

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