18 November 2009
If Asset is purchased by a manufaturing Unit and is used in the Office and not for production, then can VAT Credit be availed on that?
Eg. X, a manufacturing unit, purchased Furniture and is put to use in the office. Then VAT paid to be capitalised or input credit can be availed?
18 November 2009
thank you Sirs. pl. answer me this also if an asset is put to use on 6th May 2009. Then shall we take 6th May 2009 into consideration for calculating depreciation under Companies Act or from 7th May do we calculate depreciation. Thanks in advance:)
CAclubindia
