EOU is availing CST Refund. So, when CST is paid on purchase of an asset, should the Unit, capitalise the amount paid towards CST or should they treat it as an expense? Pl. Reply
Thanks in advance:)
Menu
CST
Replies (3)
As per AS2 when such refund of taxes is permitted cost of asset does not include such taxes
if cost include the CST paid which is refundable. then we have to exclude it. show CST refundable in current assets till refund is not received.
I totally agree with sivaram and shashi, FA should be shown at net value after excluding the refund to be claimed on CST...or else ur FA would be overstated...
Recent Topics :
- Understanding where manual effort goes in audit wo
- Scanned purchase bills to Tally XML with GST check
- TDS applicability of foreign remittance to Oracle
- GSTR 9 LATE FEE
- Best Online Mock Test Series for CA Inter January
- COST OF IMPROVEMENT
- Pillows and Mattresses
- GST Applicability for Reg. / Un-Reg. Indian custom
- Amended GST Act & Rules
- FAST DS 2026 MAIL QUERY
Related Topics :
CAclubindia
