TAB S8 ULTRA 12/256 LTE
Komal Kumari (47 Points)
11 October 2022
What will be Accounting treatment & proper head for TAB Purchase??
2 Replies
prasad Nilugal
( GST Practitioner & Accounts )
(14868 Points)
Replied 11 October 2022
If Invoice is in the name of Business pass following entry
TAB ( Ultra ) A/c Dr
Input CGST A/c Dr
Input SGST A/c Dr
To Trade Creditors A/c Cr
( Purchase of new TAB for Business purpose)
TAB (Ultra) will be under head Non Current Assets/ Fixed assets, Balance sheet.
TAB ( Ultra ) A/c Dr
Input CGST A/c Dr
Input SGST A/c Dr
To Trade Creditors A/c Cr
( Purchase of new TAB for Business purpose)
TAB (Ultra) will be under head Non Current Assets/ Fixed assets, Balance sheet.
veerendar singh
(tax consultant)
(3306 Points)
Replied 13 October 2022
Throw it into capital account if its personal
else record it as business asset and take depreciation @ 15.
else record it as business asset and take depreciation @ 15.
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