Definition of business assets
Dimple Patel (8 Points)
10 November 2018
Is stock included in the "business assets" in schedule 1 of GST act. ?
2 Replies
Manjur Khanushiya
(239 Points)
Replied 10 November 2018
I think Business assets means Fixed Assets not current as per schedule 1 and stock is current asset so it is not included in this schedule
Pankaj Rawat
(GST Practitioner)
(55052 Points)
Replied 10 November 2018
No Stock is under Cuurent Asset & not included in Business Asset .
Business Asset means Fixed Asset
Business Asset means Fixed Asset
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