Assets Transfer

Murugesh (Querist) 07 July 2008 This query is : Resolved

We have two project in India in different places ( One in Gujarat another in Kochin ).
And now we want to transfer the office assets ( like Computer, Furniture etc ) to Kochin project from Gujarat and the book value of the Assets almost '0'.

Please tell us that what are the documentation need for this transfer, any Tax / Legal implication is there or not?

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Guest (Expert) 07 July 2008
You can simply state on you rletter head containing the TAN of Gujarat the list of items being transported to Cochin.

It must make a declaration that the goods are for office use and not for sale. Give the reason for shipping the goods and give the Kcohin branckhes VAT if required.

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