This form is an Asset Purchase Agreement. The seller agrees to sell to the buyer certain assets which are listed in the agreement. The form also provides that the buyer will not be responsible for any unfilled orders from the customers of the seller.
Fixed Asset Purchase With Gst Entry In Orange
Category:
State:
Multi-State
County:
Orange
Control #:
US-00419
Format:
Word;
Rich Text
Instant download
Description
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FAQ
Yes, businesses can claim Input Tax Credit (ITC) on fixed assets if they are used solely for business purposes. Proper documentation, such as a valid tax invoice, must be maintained, and the asset should be capitalized in the books of accounts. ITC cannot be claimed if the asset is used for personal purposes.
📌 1️⃣ Sale of Immovable Fixed Assets (Land & Buildings) ✅ Sale of an under-construction building → GST @18% applies (Treated as a supply of services).