In CIF import purchases ; when risk
& reward transfer to buyer.
Pl.Guide
That is when you sign documents of goods delivered. The risk and rewards will become yours.
What ever document you sign to release the goods from authority. Cause standard mentions, depreciation starts from the date you open the sealed cover. That is, when you physically take ownership of the goods.
Vardhaman Group of India
Pimpri Chinchwad
CA Inter
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SMJ global advisors pvt ltd
New Delhi
B.Com
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Aggarwal Sarawagi and Co
New Delhi
CA
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T R SOOD & CO
New Delhi
CA Inter
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Shyam Joshi & Associates
Pune
B.Com
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CAclubindia
