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.
Naveen Fintech Pvt Ltd
Kolkata
CA Inter
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Gupta Sachdeva & Co. Chartered Accountants
New Delhi
CA Final
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CAclubindia
