Personal asset to business capital

Rajesh PB (80 Points)

09 November 2017  

I have a proprietorship business deal with silver jewellery. I have 10kg of silver in my personal assets valued 20000 per kg.

I want to introduce these silver in my business .

Current market value is 40000 per kg.

  • Should i pay capital gain soon after introduced in the business ? Or only after a sale made ?
  • Need to make a purchase entry in my business profile ? Hence need to pay GST in rcm? (Dated before november 2017)
  • Can you tell me which entry to be made in tally for the ans ☺️

Thank you 💐