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Statutory implication on selvage value of assets w/off

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23 April 2022 If assets are reached to its selvage value and no longer available physically so the same is w/off in books . What are the implication in such cases with regards statutory laws alike gst/service tax and TDS /TCS and income tax.

does this implication is applicable if the assets not reached to selvage values and physically not available and need to w/off in books.
Experts please advice.

23 April 2022 In both the cases write off the assets from the books, it's allowed under income tax law and GST, TDS/TCS not applicable.



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