I have purchased a lifetime license of a particular software at a one-time payment of $170 from a Malaysian website. Can I record this purchase as an expense so that we do not need to pay GST under the reverse charge mechanism?
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Recording overseas purchases as expense
Replies (2)
Quick Summary
It seems like purchase of Intangible asset. hence would require it to be capitalized
It should be capitalised as it is an intangible asset
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