any fixed assets pur. on credit basis after a time no payment to creditors....tb kya accounting entry pass hogi aur uski taxability pr kya impact aayega....plz tell me
First of all you have to reverse ITC if earlier availed. If apka intention creditor ko pay krne ka nhi hai then aap usko write off karna hoga and ush written off value pe income tax arise hoga
CAclubindia
