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??
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Depreciation on capital asset
Replies (4)
Quick Summary
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 ?
Was Input GST claimed against capital asset ?
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