Stock transfer to fixed asset
This query is : Resolved
07 June 2012
We authorized dealer of car. We purchase a demo car and treated as a purchase and also show in VAT return as a purchase in Jun-2010. Now we want to capitalize this car to Fixed Asset but now confusion is that which account should be credited to transfer to FA. should i credit ledger of purchase to decrease the purchase.
What is the affect in Vat return by doing this. Please give the proper guidance.
What is the affect in Vat return by doing this. Please give the proper guidance.
07 June 2012
yes as you dont have any other option. Accordingly revise the Vat return or show the impact of such entry in current vat return
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
- Is this income indian or foreign income?
- REGARDING GST ON COMMERICIAL PROPERTY
- 15ca /15cb whose income tax login? remitter or nri seller's login?
- GST on export of services and Input Credit
- RCM applicability on Rent Paid by Registered Person to Unregistered Landlord for Residental Building
- TDS U/S. 194NF
- ITC temporary reversal and reclaim
- Regarding Documentation & Compliances for Opening of Unit of Pvt Ltd.
- Applicable TDS rate for sale of property in Nov 2024
- Can we claim ITC of Feb-2024 in the month of November-2024 which was not claimed by oversight
- LAST YEAR 2022-23 ITC IN NEXT YEAR 2023-24 REPORITNG IN GSTR-9
- MIS MATCH OF INVOICE NUMBER
- IGST Credit-Show cause notice issued-confusion
- Issue of gst e invoice
- 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
- Regarding einvoice taken on nil rated sales
- Strategical investment in Public listed company
Trending Online Classes
CAclubindia
