Disposal of asset by beneficial ownership
I have 2 companies:-
Company A – Non-Registered Person (Legal ownership of the Asset)
Company B – Registered Person (Beneficial Ownership which the asset park under this company)
Which Company should issue the invoice if asset is going to dispose?
As if Company A to issue the invoice, my account of Company B will record the disposal without GST while the asset is park under Company B.
Company A cannot issue Tax Invoice nor charged GSt.
Only Company A can sell the asset as legal ownership.
Answered on January 5, 2017. 2017-01-05 09:59:51