Depreciation on capital asset

A company have sold capital asset in the month of may.

I want to know one thing for the purpose of calculation of profit on sale of capital asset WDV will be taken of income tax or as per company law.

and what about liability of GST??
Replies (4)
Quick Summary
This discussion clarifies how to calculate profit on the sale of a capital asset. It addresses whether to use the Written Down Value (WDV) from Income Tax or Company Law for the calculation. Additionally, it explores the Goods and Services Tax (GST) implications, considering factors like the type of capital asset, input GST claims, and potential violations of Section 22 of the Cost Accountants Act.

As per Income tax act.            

For GST liability please inform what type of Capital Asset?.
Gst liability arises if there is a violation of SEC 22 of cost act.
What is nature of business carried out by the company?

Was Input GST claimed against capital asset ?

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