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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.
From India , Delhi
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
Regards,
Ashwin Jobanputra

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