14 June 2011
OUR CLIENT HAS PURCHASED A SOFTWARE ON WHICH MAHARASHTRA SALES TAX AND SERVICE TAX IS CHARGED PLS TEELL THE TAX IMPLICATIONS OF THE ABOVE PURCHASE OF SOFTWARE
14 June 2011
In your case you have to capitalise the purchse amount of software as per AS 26.If you do not avail any input credit for sales tax and service tax, then you need to capitalise the software for the full amount including taxes.
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