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Whether Demo Bike is to be shown as stock or fixed? And if shown as fixed assets whether we claim GST input
Replies (6)
What is Your business...?
Royal Enfield bullet showroom
Will be shown as stock and itc of gst will be available whether it is capital asset or input
Company asked to keep the demo bike for two and half years. So whether it will not be treated as fixed assets
No issue stock can also be kept for longer unless it is of perishable nature
@ Amit
is it so that you keeping demo bike on behalf of Company or you paid for it ?
Are you going to return bike after 30 months ?
If you paid for it then who will bear wear and tear for 2.5 years ?
How is disposal terms for bike after 2.5 years
Depending upon terms of distributor You may keep as FA and claim depreciation on it.
is it so that you keeping demo bike on behalf of Company or you paid for it ?
Are you going to return bike after 30 months ?
If you paid for it then who will bear wear and tear for 2.5 years ?
How is disposal terms for bike after 2.5 years
Depending upon terms of distributor You may keep as FA and claim depreciation on it.
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