Import of old machinery
This query is : Resolved
07 June 2010
Our company is registered as public limited company. We want to import old machinery from USA at nil valuation. 1) is it possible?
2) We will get funding from Singpore of cost incurred for import. We do not want to show as assets in our books. Is it possbile to claim reimbursement?
2) We will get funding from Singpore of cost incurred for import. We do not want to show as assets in our books. Is it possbile to claim reimbursement?
07 June 2010
Than Transfer pricing will apply in India.. Its not at all possible to transfer at Nil amount... You have to show atleast current MV...
07 June 2010
Hey it will be reffered later on... Not right now. Just transfer the machinery at normal cost... For better clarification contact your CA..
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