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..
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Manual Rectification through AO
- IT Return filed defective u/s 139 (9)
- Defective Return - Tds on advance
- Fixed Deposit Claim Relinquishment by the Nominee
- TCS ON SOFTWARE SALES
- Income Type for interest from government bonds
- TDS RATE ON RENT PAID TO NRI
- Not a CA , can we prepare balance sheet
- Tax treatment of debt mutual funds
- SHARE TRANSFER PRIVATE LIMITED COMPANY
- Issue of gst e invoice
- Gstr 9 2023-24
- Interchangeable words in accounts
- Adjusted profit/Loss in the case of LLP and Pvt. Ltd.company
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
- 133(6) DIN INVALID format error - ->WHERE TO REPLY 133(6) notice?
- Query for dubts
- GST RCM not shown in GSTR-3B
- Bill from Dispatched from issue.
Trending Online Classes
-
Landmark Judgments: Important Provisions of the EPF & ESI Act interpreted by the Honorable Supreme Court of India
Mr.Balamurugan Ranganathan15 November 2024
CAclubindia
