I have purchased a lifetime license of a particular software at a one-time payment of $170 from a Malaysian website. Can I record this purchase as an expense so that we do not need to pay GST under the reverse charge mechanism?
Menu
Recording overseas purchases as expense
Replies (2)
It seems like purchase of Intangible asset. hence would require it to be capitalized
It should be capitalised as it is an intangible asset
Recent Threads
- GSTr 9 24-25
- Change HSN
- TDS ISSUE ( DIFFERENT SECTION )
- Company strike off with loan waiver accounting iss
- Board resolution for authorization for GST
- Invoice related audit
- Gst input credit related
- Updated ITR as missed the dead line
- Change if place of business l
- Purchase from unregistered dealer garments busines
Related Threads
CAclubindia
