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One of VP of the co. purchased Laptop from Tokyo during his visit . Now co. has agreed to reimburse him for the same and agreed to include Laptop in Company assets. Is there any service tax/vat or other statutory implication of above if we reimburse the amount to employee. Pls guide.
My opinion as follows:
As per above transaction Laptop,purchased from Tokyo , Need to check the Invoice , and Import duty Paid while entered in India , there will no affect of Local Vat and Service Tax hence it was import purchased.
As per company Policy, if Lap top ownership is of company , the same can be account for in Company's fixed Asset after payment to employees.
hope it is clear
Ashwin Jobanputra

it will have no effect of local taxes. just take care that additional depriciation can not be claimed by the company on that laptop.
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